The hospitality industry in numbers

Hospitality is one of the fastest-growing industries in the world and has been for years. In addition, the ability to help someone, meet their needs, and even go beyond or simply make them feel at home at all times is an important part of almost every business today. This means that even companies that are not in the industry are hiring hospitality employees to build beneficial relationships with their customers.

Before we dig in: young professionals who wish to make a career in the hospitality industry, Hospitality Academy is a great company that can help you get the hospitality accreditation you need and make your way into the industry! Hospitality Academy offers a large variety of courses, such as bachelor's, master's, and MBA programs, which you can join online or in-person, at their campuses from all over the world. This is the perfect opportunity to get the hospitality education you need and kick-start your career in this field.

Introduction

To give you an idea, a new job is created every 2.5 seconds in the hospitality industry, which is considerable! So you might think that it is easy to find a job in this sector but it is not. In fact, although the hospitality industry is the largest employer in the United States, in particular, the unemployment rate is higher than average and affects workers in this sector. Finally, the myth that there is no life in the hospitality industry must be dispelled. In fact, according to a recent study by the UCF, more than 51% of workers surveyed found that working in hospitality, tourism or catering provided adequate working hours for family life and time for themselves.

Statistics

Employment

• Tourism and hospitality, in general, is one of the top three employers in 32 US states.
• Even with high unemployment rates, there were 596,000 open jobs in hospitality in January 2019.
• Management positions within the industry are expected to increase by up to 35% by 2023.
• More than 173 million people are employed in the hotel and motel sector.
• 212 million people, in general, are employed in this industry worldwide.

Wages and working hours

• The average employee in this industry earns $13.76 per hour.
• Employees with management responsibilities earn more than $2 per hour more than non-management employees.
• The average employee in the Hospitality industry works part-time, just over 25 hours per week.
• 41% of hotel and restaurant employees work an average of 31 to 40 hours per week.

Economically

• The hospitality industry adds $3.4 trillion to the global economy each year.
• According to recent figures published by the WTTC, the hospitality sector will contribute USD 8.8 trillion to the global economy in 2018, or 10.4% of total global GDP.
• The travel industry is worth approximately $1.6 trillion globally and accounts for one-tenth of global GDP.

Socially

• 39% of hospitality employees have 2 or more dependent children.
• The industry has a low accident rate of 4 incidents per 100 workers in 2020.
• On average, 71% of workers in this sector are women and 27% are men. 

Record

• The global hotel market has over 4 million hotel rooms worldwide.
• In 2020, there will be more than 700,000 hotels and resorts in the world.
• The city with the most hotels is Beijing, China, with 4,169 hotels.
• The city with the most 5* hotels is London, with 75 hotels, followed closely by Dubai, with 61 hotels.
• The leading group in the world is the Wyndham Hotel Group with over 9157 properties.

These numbers demonstrate the clear importance of the hotel sector and hospitality professions in general. These are jobs with a real future and although demanding, they are jobs where the working conditions are good and where you will not lack anything.

If you want to work in the wonderful industry of hospitality and develop your career, find out how schools like Hospitality Academy can help you by offering the necessary education and accreditation to secure your dream in the world's most luxurious hotels and restaurants. For more information, you can contact admissions@pihospitalityacademy.com with your CV.