The Hospitality Market in France is being driven by Shifting preference for local and authentic experiences in France
The Hospitality Market in France is expected to grow at a CAGR of 2.5% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 3.30 billion. The French hospitality market is witnessing a notable trend fueled by the widespread use of the internet and the growing influence of online testimonials. With travelers now able to conduct extensive research and make reservations online, the hospitality industry is increasingly reliant on digital platforms for customer engagement. This shift has led to a surge in online reviews and testimonials, which significantly impact potential visitors' decision-making processes. Prominent review sites such as TripAdvisor, Yelp, and social media channels have become essential tools for tourists to assess the quality of services offered by hotels, restaurants, and other hospitalities businesses. Consequently, maintaining a robust online reputation has become a priority for businesses, as positive feedback can significantly enhance their visibility and attract a larger clientele.
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The market is segmented based on segments_for_ai.nslist
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
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Market Scope |
|
Report Coverage |
Details |
Page number |
152 |
Base year |
2024 |
Historic period |
2019-2023 |
Forecast period |
2025-2029 |
Growth momentum & CAGR |
Accelerate at a CAGR of 2.5% |
Market growth 2025-2029 |
USD 3.30 billion |
Market structure |
Fragmented |
YoY growth 2024-2025(%) |
2.1 |
Key countries |
France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Find out which segment is leading the market by accessing the free PDF report
The French hospitality market encompasses various sectors including Hotels, Restaurants, and Bars, providing Accommodation for both residential and non-residential guests. With the rise of Tourism and Wellness Tourism, personalization through Artificial Intelligence becomes essential. Domestic and International Tourists seek Authentic Experiences and Cultural Engagement, influenced by Social Media. Data Analytics from Domestic Guest visits inform Food and Beverage offerings, Recreation, and Entertainment. Business and Leisure Travelers, including Millennials and Generation Z, prefer Experiential Travel. Chain Hotels and the Airline Industry collaborate, integrating Robots and Automated Systems for enhanced guest experiences. Bleisure Travel, combining Business and Leisure, is also on the rise.
The global hospitality market encompasses businesses involved in the operation of hotels, resorts, and cruise lines, as well as travel agencies, tour operators, and associated services. According to Technavio, the market size is determined by the consolidated revenue generated by companies in the sectors of casinos and gaming, hotels, resorts and cruise lines, leisure facilities, and restaurants. The expansion of the global hospitality industry will be fueled by the burgeoning travel and tourism sector. Annually, vast numbers of tourists from developing and advanced economies traverse the world, driving market growth.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
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