Market Size of Hospitality Industry in Austria
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 4.00 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Austria Hospitality Market Analysis
The tourism industry in Austria is dynamic and is recording more vacation trips (almost 80%) than business trips. The country is been attracting almost double the number of foreign tourists and is generating more tourism-based revenue. 6.5% of share it produced to the country's GDP in 2018. The growing number of tourism is boosting the hotel and accommodation sector in the region. Demand for hotel accommodation segment has increased by almost 10% between 2013-2018, rising from 86 million available room to almost 95 million. Austria's tourism and hotel industries remained left affected by the seasonality and are registering growth numbers year on year. International travelers are dominating the demand and are typically accounting for around three-quarters of a whole hotel business. Chain hotels account for 14% of the total hotel properties currently operating in Austria.
