(MoneyNewsWire.Net, December 18, 2018 ) The global non-residential accommodation services market, one of the segments of hospitality industry. During the historic period it grew at a compound annual growth rate (CAGR) of around 7%. This was mainly due to the increased leisure travel and rise in disposable income.
For the forecasted period, the global non-residential accommodation services market size is expected to be over $1200 billion by 2021, growing at a CAGR of nearly 7.5%. The growth rate for forecasted period is higher when compared to the historic period. This is mainly attributed to rise in government initiative in tourism and growing popularity of social media w
here tourism advertisements are posted.
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Wellness travel is on the rise in the accommodation market. It includes classic yoga retreats and spa experiences, detox menu, mediation sessions, extreme fitness boot camps, agro-tourism and farm stays, hot springs and thermal bath trips, cycling vacations and more.
Students and Workers Non-Residential Accommodation primarily engaged in operating rooming and boarding houses and similar facilities, such as fraternity houses, sorority houses, off-campus dormitories, residential clubs, and workers' camps.
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