The growth in global tourism and rise in affluent leisure coupled with increasing business travels across the globe are behind the growth of luxury hotel market. Further, growing number of international events is also envisioned to raise interest towards luxury hotels.
Current leader is North America followed by Europe and then comes Asia-Pacific.
The country with the highest growth rate is Saudi Arabia especially with the boost from Jeddah, followed by Thailand.
We will witness the rise of Latin America towards 2025 while the highest growth rate will still be generated from Saudi Arabia.
Luxury Hotel sector is expected to reach USD 25 billion by 2025.
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