Hotels set for 25 years of growth
Growth within the world hotel industry will be as dramatic in the next 25 years as it has been in the last quarter-century, according to consultants at Horwath International.
The Horwath Worldwide Hotel Industry Study 1995, published this week, shows that tourist arrivals numbered 117 million in 1970 but by 1994 this had shot up to 528 million.
Jonathan Bodlender of Horwath says in the report that tourism is - or will shortly become - the world's largest and fastest growing commercial/industrial sector.
He argues that tourism not only offers countries material rewards but it also offers "healing" possibilities through helping to rehabilitate economies and securing stability. Examples are countries such as South Africa, Lebanon and Ireland.
The study also compares the performance of hotels across the world. In Europe, the impact of economic recession has yet to pass. The UK, perhaps because it had an earlier and deeper recession than its neighbours, is emerging more strongly.
Budget and mid-market hotels are expanding the most in Europe (except possibly in France, which pioneered the budget market and now has an oversupply). Other sectors of the European hotel industry will experience little overall growth, predicts the report.
The Horwath Worldwide Hotel Industry Study 1995 is available for £150. Tel: 0171 353 5380.
