The hospitality staffing market is expected to strengthen its hold on the global market at an average CAGR of 6.9% between 2022 and 2032. The market is valued at USD 971.3 Billion in 2022 and is likely to reach USD 1886.6 Billion by 2032. Previously, the market was thriving at a slightly higher CAGR of 6.5% (2015 to 2021), ensuring a market size of USD 963.4 Billion in 2021.
Growing population along with new travels locations opening through are pushing the hospitality sector and government to invest more capital into the hotels, parks, monuments, and accommodation facilities, using the latest advanced technology.
| Attributes | Details |
|---|---|
| Hospitality Staffing Market CAGR (2022 to 2032) | 6.9% |
| Hospitality Staffing Market Value (2022) | USD 971.3 Billion |
| Hospitality Staffing Market Value (2032) | USD 1886.6 Billion |
As the covid-19 has hit the travel and hospitality business, damaging the market layers through lockdowns and travel restrictions introduced by governments, hospitality has gone through a rough phase. New countries opening up new tourist attraction spots are attracting new tourists and fuelling the hospital staffing market.
A global study on the Hospitality staffing market explains that the market has started recovering from the adverse damage done by the spread of coronavirus. The driving growth of the hospitality staffing market is attributed to the recovering hotel industry, new tourist spots opening up, high discounts on tourist packages along with technologically advanced platforms that make it easy for the end-users to access travel locations, hotels, and transportation. These factors lead up to the adoption of staffing solutions as the number of hotels and accommodation keep on increasing.
The increasing demand for new easy processes and human care with the increasing hotels and sanitization needs are pushing the sales of hospitality staffing solutions. The hospitality sectors demand competent and professional staff that adds value to the hospitality services while enrolling in time-to-time training programs to increase the understanding of the work culture. The hotels open new components like parks, play areas, etc., which consume more manpower. The hospitality staffing solutions help the hospitality units to run recruitment programs that take care of the professionalism and training of the staff.
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Rising tourist activities in new countries followed by the new tourist places opening up with accommodation discounts and high capital investments are gaining the traction for the hospitality staffing market.
The government and its initiative have put forward the agenda of making the travel and hospitality industry survive and then get it back on track. In doing so, the government has invested a big amount of capital in the hospitality industry, making it possible for the sector to maintain staff.
As soon as the restriction and lockdown had been lifted, the hospitality centers started hiring new employees. Therefore the use of hospitality staffing solutions comes into the place, making it easier for management to hire new staff and make the business running. Restaurants have made it hard to hire employees as there is a decline in the inflow of customers as they order food online.
The major restrictions that hold the hospitality staffing market backwards are the use of third-party services along with the incompetency of the management that fails to hire the right set of staff that helps the business is growing exponentially.
This involves the roles and responsibilities attached to different positions that one needs to acquire. Though hospital staffing solutions help these hiring operations, the need for better operating skills is always required.
The hospitality staffing market analysis explains that the market is categorized by work position, work, and end user. These categories are further divided into small segments that expand their channels in multiple market spaces. These segments perform differently in multiple markets as they have a stronghold in multiple regions.
The work position category is segmented into Manager, Specialist, Attendant, Chef, Auditor, and Receptionist, while the work type category is divided into Event Caterers, Janitors, Parking Attendants, Banquet and Restaurant Servers. The last category as the end-user industry is segmented into Food and Beverages, Travel and Tourism, and Lodging.
By work position type, the manager segment is the largest segment and will hold the biggest sector of the market in the forecast period. The analysis shows that the manager segment is set to thrive at a CAGR of 4.3% in the forecast period, while previously, the segment was thriving at a slightly lower CAGR of 3.3%.
Hospitality staffing market analysis explains that the factors behind the growth of this segment are the lack of leadership vacuum, rising management issues, and new project-based companies setting up in the FMCG and travel industry. These factors flourish the demand for the hospitality staffing market along with the rise of this very segment.
The competitive landscape of hospitality staffing is dynamic in nature and allows new competitors to thrive in the market and increase competitiveness.
The companies in the market are a part of mergers and collaborations that result in increased distribution channels and market spaces. These companies focus on updating the solutions and making the platform more position-oriented.
Recent Developments in the Hospitality Staffing Market
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The hospitality staffing market is set to grow at a CAGR of 6.9% through 2032.
Hospitality staffing market is set to flourish at a USD by 2032.
Breast Biopsy is the leading segment in the Hospitality staffing market by usage, thriving at a CAGR of 3.5%.
Hospitality staffing market was growing at a CAGR of 6.5% through 2032, reached the value of USD 1886.6 Billion.
| Estimated Size, 2024 | USD 263.9 billion |
|---|---|
| Projected Size, 2034 | USD 358.1 billion |
| Value-based CAGR (2024 to 2034) | 3.1% |
| Market Value (2023) | USD 8.7 billion |
|---|---|
| Market Projected Value (2033) | USD 13.6 billion |
| Market CAGR (2023 to 2033) | 4.5% |
| Estimated Market Value (2023) | USD 513.3 million |
|---|---|
| Projected Market Value (2033) | USD 752.6 million |
| Value-based CAGR (2023 to 2033) | 3.9% |
| Market Value (2022) | USD 971.3 Billion |
|---|---|
| Market Value (2032) | USD 1886.6 Billion |
| Market CAGR (2022 to 2032) | 6.9% |
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Hospitality Staffing Market
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