The youth hostel market size has grown strongly in recent years. It will grow from $3.94 billion in 2023 to $4.26 billion in 2024 at a compound annual growth rate (CAGR) of 8%. The growth during the historic period can be attributed to the rising popularity of budget travel, the expansion of solo travel, the increased use of online booking platforms, the influence of travel influencers and social media, and the expansion and branding efforts of major hostel chains.
The youth hostel market size is expected to see strong growth in the next few years. It will grow to $5.82 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The growth projected for the forecast period can be attributed to increasing environmental awareness, rising demand for green hostels and eco-friendly practices, ongoing focus on hygiene and safety protocols in the post-pandemic era, a stronger emphasis on cultural immersion and community-based tourism, and the stabilization and growth of global economies enhancing travel budgets. Key trends during this period include the adoption of smart technologies such as keyless entry, customizable travel packages, and personalized services, the inclusion of dedicated workspaces and high-speed internet to accommodate digital nomads, the creation and development of vibrant communal areas, and the use of social media platforms for marketing and customer engagement.
The increasing popularity of experiential tourism is expected to drive the growth of the youth hostel market moving forward. Experiential tourism emphasizes providing travelers with immersive, hands-on experiences that engage them in local culture, activities, and environments. This trend is fueled by a growing demand for authentic and personalized travel experiences, a desire for deeper cultural immersion, and the impact of social media in highlighting unique and engaging activities. Experiential tourism leverages youth hostels to offer immersive, budget-friendly lodging that enhances local cultural and adventure experiences for travelers. For example, the United Nations World Tourism Organization (UNWTO) reported in May 2023 that, in the first quarter of 2023, international arrivals reached 80% of pre-pandemic levels, with 235 million tourists traveling, more than double the number from the same period in 2022. Consequently, the rise in experiential tourism is fueling the growth of the youth hostel market.
Key companies in the youth hostel market are focusing on creating innovative solutions, such as eco-friendly accommodation options, integrated travel experiences, and themed hostels, to attract a diverse and youthful audience. Eco-friendly accommodations aim to minimize environmental impact through sustainable practices such as energy efficiency, waste reduction, and the use of renewable resources. For example, in January 2021, Leisure Hotels Group, an India-based hospitality management company, introduced The Hideaway Bedzzz, a new hybrid boutique hostel-hotel. This establishment offers budget-friendly lodging with vibrant decor, social areas such as a rooftop café and a games room, and various recreational activities. It aligns well with the youth hostel market’s focus on affordability and community by catering to young travelers with varied needs and enhancing local tourism, thereby filling a market gap and encouraging social interaction, which reflects the traditional appeal of youth hostels.
In May 2022, Room007, a hotel chain based in Spain, acquired Bluesock Hostels for an undisclosed sum. This acquisition allows Room007 to expand its hostel business by integrating Bluesock Hostels' properties, aiming to reach a target of 300 rooms and 4,000 beds by the end of 2023. Bluesock Hostels, also based in Spain, operates a range of hostels, including youth hostels.
Major companies operating in the youth hostel market are Arp-Hansen Hotel Group, Hostelworld Group plc, MEININGER Hotels Ltd., Safestay Hostels & Hotels, Urbany Hostels, Generator Hostels LTD., Hostel One, Wombat's City Hostel, Hostelling International, St Christopher's Inns Limited, Freehand Hotel Solutions Ltd, Urban Garden Hostel, The People, Green Tortoise Hostel, K's House Kyoto, Itaca Hostel, City Backpackers Ltd, Eastseven GmbH, Alter Hostel, The London Backpackers Ltd.
Europe was the largest region in the youth hostel market in 2023. The regions covered in the youth hostel market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the youth hostel market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
A youth hostel is a cost-effective lodging option aimed at young travelers, usually featuring shared dormitory-style rooms and communal facilities. Its main purpose is to offer affordable accommodation while promoting social interaction and cultural exchange among guests. Youth hostels frequently provide amenities such as common areas, kitchens, and organized activities to enrich the travel experience.
Youth hostels primarily offer multiple rooms, double rooms, and single rooms. A multiple room is a shared accommodation space designed to accommodate several people simultaneously, making it ideal for group travel and budget-friendly stays. Youth hostels serve men, women, and children, and are suited for both solo trips and group travel.
The youth hostel market research report is one of a series of new reports that provides youth hostel market statistics, including youth hostel industry global market size, regional shares, competitors with a youth hostel market share, detailed youth hostel market segments, market trends and opportunities, and any further data you may need to thrive in the youth hostel industry. This youth hostel market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The youth hostel market includes revenues earned by entities by providing services such as laundry services, accommodation, event hosting, guided tours, and tour and activity services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
Executive Summary
Youth Hostel Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on youth hostel market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase:
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
- Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
- Assess the Russia - Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis
- Report will be updated with the latest data and delivered to you along with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Description
Where is the largest and fastest growing market for youth hostel ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The youth hostel market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) By Type: Multiple Room; Double Room; Single Room2) By Consumer Orientation: Men; Women; Children
3) By Application: Independent Trip; Group Travel
Key Companies Mentioned: Arp-Hansen Hotel Group; Hostelworld Group plc; MEININGER Hotels Ltd.; Safestay Hostels & Hotels; Urbany Hostels
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned
The major companies profiled in this Youth Hostel market report include:- Arp-Hansen Hotel Group
- Hostelworld Group plc
- MEININGER Hotels Ltd.
- Safestay Hostels & Hotels
- Urbany Hostels
- Generator Hostels LTD.
- Hostel One
- Wombat's City Hostel
- Hostelling International
- St Christopher's Inns Limited
- Freehand Hotel Solutions Ltd
- Urban Garden Hostel
- The People
- Green Tortoise Hostel
- K's House Kyoto
- Itaca Hostel
- City Backpackers Ltd
- Eastseven GmbH
- Alter Hostel
- The London Backpackers Ltd
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 175 |
Published | November 2024 |
Forecast Period | 2024 - 2028 |
Estimated Market Value ( USD | $ 4.26 Billion |
Forecasted Market Value ( USD | $ 5.82 Billion |
Compound Annual Growth Rate | 8.2% |
Regions Covered | Global |
No. of Companies Mentioned | 21 |