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As per newly released data by Future Market Insights (FMI), the Micro Hotel Market is estimated at US$ 84 Billion in 2022 and is projected to reach US$ 150.43 Billion by 2032, at a CAGR of 6% from 2022 to 2032.
Attribute | Details |
---|---|
Micro Hotel Market Estimated Size (2022) | US$ 84 Billion |
Micro Hotel Market Projected Size (2032) | US$ 150.43 Billion |
Micro Hotel Market Value-based CAGR (2022 to 2032) | 6% |
Micro Hotel Market Top Players Share in 2021. | 2% - 5% |
KEY Points covered in Micro Hotel report
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Micro Hotel is a type of lodging establishment that uses high-end furnisher and facilities in a room that is only half the size of a regular hotel room. In High - sanity urban locations, these compact but fully functioning rooms offer a cheap option for pleasure and business travelers on a tight budget. Micro hotels are absolutely practical rooms that are a lower priced alternative for a budget- aware entertainment and commercial enterprise guests in excessive density city areas. Micro and Boutique hotels are the same and they are small hotels with about 10-100 rooms. Micro hotels are inexpensive. They can occasionally be purchased for as little as half the cost of a typical hotel room. A deal so good is difficult to pass up.
Micro hotels are an illustration of minimalist living, a style that places an emphasis on making the most of little spaces. Compact rooms are huge in design when they are used wisely. Since travel preferences have changed, the mini-hotel is expected to be becoming more and more popular. In order to maintain a balanced existence, many travelers, especially younger people, focus on taking several quick journeys as opposed to one lengthy holiday. The appeal of the fad extends far beyond simply millennials; budget leisure tourists, hikers, and corporate travelers are all frequently seen using it.
Hotel room rates in the USA have been rapidly rising. On the other hand, there has been a noteworthy demand for affordable housing solutions. As a result, the upscale hotel industry in the USA has shifted. Today, there is a significant and growing demand for hotels that provide the accommodations of a high-end hotel in a small package.
Worldwide, the number of solo travelers is steadily increasing. These visitors are looking for a low-cost hotel with modern comforts. This micro-hotel generally provides free wireless internet, welcome drinks, dining areas, communal baths, laundry facilities, a game room, an entertainment room, and a library. Many such amenities entice countless solo travelers; thus, the demand for micro hotels is ramping up nationally and internationally.
The European micro hotel market is expected to grow at an 8.60% CAGR, reaching $15.2 million in revenue by 2028. The rise will be fueled by an increase in the number of micro hotels in the United Kingdom, the Netherlands, and Germany.
United Kingdom | United Kingdom Micro Hotel Market Witnessing Growing Number of Tourists A growing number of tourists looking for low-cost accommodations are expected to drive the United Kingdom micro hotel market. The global expansion of the travel and tourism industry and the preference for a cost-effective living while traveling drive the demand for micro hotels among travelers. The rise in unrest caused by terrorism and domestic problems in countries has posed a challenge to the growth of the United Kingdom micro hotel market. The United Kingdom micro hotel market presents a lucrative business opportunity to capitalize on the continued growth of capsule hotels and portray the future market potential for the major players. Furthermore, travelers' awareness of capsule hotels is growing, which is expected to generate lucrative opportunities for the expansion of the capsule hotel market share in the coming year. |
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Germany | Germany Tapping the Untapped Micro Hotel Market The introduction of micro hotels into an untapped market is likely to provide opportunities for the micro-hotel industry to grow in terms of value sales during the forecast period. According to the leading manufacturers, another major factor driving the micro-hotel market growth is the availability of micro hotels at a lower price than other lavish and typical hotels, lodges, and other types of accommodation. Furthermore, these hotels provide hourly accommodations and are conveniently located near airports and train stations, allowing travelers to unwind before or after their trip. This contributes to the expansion of the micro-hotel market. |
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Japan | Why is Japan a popular Micro Hotel destination? The Pod hotel concept originated in Japan in the 1970s and has evolved and emerged as one of the most recent progressive trends in hotel development and design. Fast forward to today, and we see that the pod hotel concept has evolved to meet the growing needs of mid-scale and millennial travel markets, with the introduction of micro hotels escalating the adoption of micro hotels in Japan. Global hospitality services define a micro-hotel, describe how room characteristics differ across brands, and identify the markets where these pod-like accommodations are taking root, surging the Japan micro hotels market. |
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Korea | Korean Micro Hotel Market is a Significant Growth Driver The growth of the micro hotels market share in Korea is driven by infrastructure improvements and a growing number of customers choosing to stay in capsule hotels. Asia Pacific is well-known for its vibrant culture and allure. The Korean micro hotels market has the highest proportion of high-income households traveling abroad. This is due to the rapidly expanding economy in Korea boosting the micro hotels market trends in Korea and new job opportunities, both of which have increased household income. Increased unrest in countries due to terrorism and domestic issues has posed a challenge to the growth of the micro hotels market in Korea. |
The Pod hotel idea that originated in Japan in the 1970s has developed and emerged as one of the contemporary progressive traits in resort improvement and design. Pod-sized lodging changed into, to begin with, supposed for short-live business guests who required a personal area with the fundamental area with fundamental amenities. Fast ahead to nowadays and we see that the pod hotel concept has developed to satisfy the growing needs of the mid-scale and millennial journey markets with the advent of the micro hotels
Global hospitality services define what a micro hotel is, describe how room characteristics differ across brands, and identify the markets in which these pod-like accommodations are taking root. They usually serve people looking for a cheap one-night stay and are situated near key Transportation hubs in big metropolitan cities. For example; First Capsule Hotel opened in OSAKA IN 1979.
In the USA, hotel room rates have been growing quickly. On the other side, there has been a noticeable demand for affordable housing options. The entire hotel industry in the USA has changed as a result. There is sizable and expanding demand today for hotels that offer the amenities of a high-end hotel in a small package. It’s important to note that a micro-hotel has compact guest rooms with unique layouts and meticulous finishing. These are famous micro hotels in the USA, ARLO HOTELS, JANE HOTEL (New York City), CITIZEN M (Amsterdam and elsewhere)
MOXY HOTELS; Moxy is a fun, budget-friendly, and chic hotel chain that offers guests everything they need and nothing they don’t. Moxy defines the expectation and a traditional hotels stay, starting with check-in at the bar and expanding to more than 60 immersive hotels spanning North America, Europe, and the Pacific. Moxy has created with millennials everything they need and nothing that don’t. It is premium in all respects except price, and its affordable does not mean that comfort or style has been compromised. Examples; Moxy Hotels in Milan, Hoxton Hotel in PARIS, and elsewhere.
Online booking channels lead the booking channel segmentation
With the huge availability of the net and the web presence of top corporations running inside the marketplace, the reserving channels have especially shifted towards the web mode of booking. This upward is attributed because of the ever-increasing ease of the usage of the web channel and the huge wide variety of excursion alternatives one gets from those platforms. Hassle-loose revel in and the consolation of reserving at your comfort also are the riding elements in this case. The online booking channels are anticipated to preserve taking pictures the fundamental marketplace promotion and stay the maximum preferred.
The Hotel industry has a number of Micro Hotels in urban cities. Most travelers referred to Capsule Hotels and Then Rolling Hotels. Capsule Hotel also known as a Pod Hotel, is a kind of Hotel created in Japan that has numerous tiny capsule rooms, each measuring a little larger than a bed. For travelers without a need for or without the means to pay for the larger, more expensive rooms offered by more traditional hotels, capsule hotels offer affordable, basic overnight accommodation.
Packaged Traveler is the most prominent category
With several tour operators offering more than one service along with an all-inclusive package, the Packaged Traveler type has the majority share of the package tour segment. Vacation packages in the marketplace are available for different tourist locations, activity levels, and price points, making them a very commonplace feature among the micro hotel's consumers. This, together with their various choices, provides tourist hotels an advantage over the massive amounts of people who use the same providers, saving them the trouble and expense of settling on the support of a separate supplier for each service.
The key players are maintaining a competitive edge in the market by offering all-inclusive packages and saving tourists from the hassle of going through different channels for their tours. Government initiatives and investments are boosting the market and have also helped the firms improve their service offerings.
For Instance:
Attribute | Details |
---|---|
Forecast Period | 2022 to 2032 |
Historical Data Available for | 2017 to 2021 |
Market Analysis | US$ Billion for Value |
Key Regions Covered | North America, Europe, East Asia, South Asia, Oceania & the Middle East, and Africa(MEA). |
Key Countries Covered | USA, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, Russia, Benelux, South Africa, Northern Africa, GCC Countries, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Australia & New Zealand. |
Key Segments Covered | Location Type, Booking Channel, Tourist Type, Tour Type, Consumer Orientation, Age Group, and Region |
Key Companies Profiled |
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Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Drivers, Restraints, Opportunities and Threats Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
Customization & Pricing | Available upon Request |
The micro-hotel market is currently valued at US$ 84 Billion in 2022.
The micro tourism market is currently forecasted to grow at a rate of 6 % CAGR during the forecast period.
Micro hotels are an example of minimalist living, a trend that focuses on utilizing smaller areas proficiently. They provide rooms with smart designs by making use of the space efficiently.
Leading players operating in the micro-hotel are Nine Hours, Container Hotels, Tubohotel, The Pod Hotel, Rolling Huts Micro Hotels, Koyasan Guest House, and Yotel Hotels.
1. Executive Summary | Micro Hotel Market 1.1. Global Market Outlook 1.1.1. Who Is Travelling? 1.1.2. How Much Do They Spend? 1.1.3. Direct Contribution of Tourism To GDP 1.1.4. Direct Contribution of Tourism To Employment 1.2. Tourism Evolution Analysis 1.3. FMI Analysis and Recommendations 2. Market Introduction 2.1. Total Spending (US$ Million) and Forecast (2022 to 2032) 2.2. Number of (Million) and Forecast (2022 to 2032) 2.3. Total Spending Y-o-Y Growth Projections (2022 to 2032) 2.4. Number of Y-o-Y Growth Projections 3. Global Market Dynamics 3.1. Market Drivers, Challenges & Opportunities 3.1.1. Flexible, affordable, stylish, and smart rooms boost the growth of Micro Hotels. 3.1.2. Micro Hotels could attract multiple segments with their stylish urban vibe, especially business and leisure travelers. 3.1.3. The use of technology is growing in hotels 3.1.4. Hotel advertising campaigns should have a strong video focus in 2022. 3.1.5. Determine your Hotels objectives. 4. Market Background 4.1. Top 10 Market Companies 4.2. Macro-Economic Factors 4.2.1. Global GDP Growth Outlook 4.2.2. Global Industry Value Added 4.2.3. Global Consumer Spending Outlook 4.2.4. Global Direct contribution of Hotels to GDP 4.2.5. Global Visitor Exports and International Tourist Arrivals 4.2.6. Capital Investment in Hotel 4.2.7. Top Hotel Spending Countries 4.3. Forecast Factors - Relevance & Impact 5. Categorizing of Global Market 2021 5.1. Introduction/ Key Findings 5.2. Current Market Analysis by Hotel Type (% of Demand) 5.2.1. Capsule Hotels 5.2.2. Rolling Hotels 5.2.3. Snooze box 5.2.4. Others 5.3. Current Market Analysis by Booking Channel (% of Demand) 5.3.1. Phone Booking 5.3.2. Online Booking 5.3.3. In-Person Booking 5.4. Current Market Analysis By Tourist Type (% of Demand) 5.4.1. Domestic 5.4.2. International 5.5. Current Market Analysis By Tour Type (% of Demand) 5.5.1. Independent Traveller 5.5.2. Tour Group 5.5.3. Package Traveller 5.6. Current Market Analysis By Consumer Orientation (% of Demand) 5.6.1. Men 5.6.2. Women 5.7. Current Market Analysis By Age Group (% of Demand) 5.7.1. 15-25 Years 5.7.2. 26-35 Years 5.7.3. 36-45 Years 5.7.4. 46-55 Years 5.7.5. 66-75 Years 5.8. Current Market Analysis By Region (% of Demand) 5.8.1. North America 5.8.2. Latin America 5.8.3. Europe 5.8.4. East Asia 5.8.5. South Asia 5.8.6. Oceania 5.8.7. Middle East and Africa(MEA) 5.9. Key Findings, By Each Category 6. Categorizing of North America Market 2021 6.1. Introduction/ Key Findings 6.2. Current Market Analysis by Hotel Type (% of Demand) 6.2.1. Capsule Hotels 6.2.2. Rolling Hotels 6.2.3. Snooze Box 6.2.4. Others 6.3. Current Market Analysis By Booking Channel (% of Demand) 6.3.1. Phone Booking 6.3.2. Online Booking 6.3.3. In-Person Booking 6.4. Current Market Analysis By Tourist Type (% of Demand) 6.4.1. Domestic 6.4.2. International 6.5. Current Market Analysis By Tour Type (% of Demand) 6.5.1. Independent Traveler 6.5.2. Tour Group 6.5.3. Package Traveler 6.6. Current Market Analysis By Consumer Orientation (% of Demand) 6.6.1. Men 6.6.2. Women 6.7. Current Market Analysis By Age Group (% of Demand) 6.7.1. 15-25 Years 6.7.2. 26-35 Years 6.7.3. 36-45 Years 6.7.4. 46-55 Years 6.7.5. 66-75 Years 6.8. Current Market Analysis By Country (% of Demand) 6.8.1. USA 6.8.2. Canada 6.9. Key Findings, By Each Category 7. Categorizing of Latin America Market 2021 7.1. Introduction/ Key Findings 7.2. Current Market Analysis by Hotel Type (% of Demand) 7.2.1. Capsule Hotels 7.2.2. Rolling Hotels 7.2.3. Snooze Box 7.2.4. Others 7.3. Current Market Analysis By Booking Channel (% of Demand) 7.3.1. Phone Booking 7.3.2. Online Booking 7.3.3. In-Person Booking 7.4. Current Market Analysis By Tourist Type (% of Demand) 7.4.1. Domestic 7.4.2. International 7.5. Current Market Analysis By Tour Type (% of Demand) 7.5.1. Independent Traveler 7.5.2. Tour Group 7.5.3. Package Traveler 7.6. Current Market Analysis By Consumer Orientation (% of Demand) 7.6.1. Men 7.6.2. Women 7.7. Current Market Analysis By Age Group (% of Demand) 7.7.1. 15-25 Years 7.7.2. 26-35 Years 7.7.3. 36-45 Years 7.7.4. 46-55 Years 7.7.5. 66-75 Years 7.8. Current Market Analysis By Country (% of Demand) 7.8.1. Brazil 7.8.2. Mexico 7.8.3. Argentina 7.8.4. Colombia 7.8.5. Rest of LA 7.9. Key Findings, By Each Category 8. Categorizing of Europe Market 2021 8.1. Introduction/ Key Findings 8.2. Current Market Analysis by Hotel Type (% of Demand) 8.2.1. Capsule Hotels 8.2.2. Rolling Hotels 8.2.3. Snooze box 8.2.4. Others 8.3. Current Market Analysis By Booking Channel (% of Demand) 8.3.1. Phone Booking 8.3.2. Online Booking 8.3.3. In-Person Booking 8.4. Current Market Analysis By Tourist Type (% of Demand) 8.4.1. Domestic 8.4.2. International 8.5. Current Market Analysis By Tour Type (% of Demand) 8.5.1. Independent Traveler 8.5.2. Tour Group 8.5.3. Package Traveler 8.6. Current Market Analysis By Consumer Orientation (% of Demand) 8.6.1. Men 8.6.2. Women 8.7. Current Market Analysis By Age Group (% of Demand) 8.7.1. 15-25 Years 8.7.2. 26-35 Years 8.7.3. 36-45 Years 8.7.4. 46-55 Years 8.7.5. 66-75 Years 8.8. Current Market Analysis By Country (% of Demand) 8.8.1. Germany 8.8.2. Russia 8.8.3. France 8.8.4. Italy 8.8.5. United Kingdom 8.8.6. Rest of Europe 8.9. Key Findings, By Each Category 9. Categorizing of East Asia Market 2021 9.1. Introduction/ Key Findings 9.2. Current Market Analysis by Hotel Type (% of Demand) 9.2.1. Capsule Hotels 9.2.2. Rolling Hotels 9.2.3. Snooze box 9.2.4. Others 9.3. Current Market Analysis By Booking Channel (% of Demand) 9.3.1. Phone Booking 9.3.2. Online Booking 9.3.3. In-Person Booking 9.4. Current Market Analysis By Tourist Type (% of Demand) 9.4.1. Domestic 9.4.2. International 9.5. Current Market Analysis By Tour Type (% of Demand) 9.5.1. Independent Traveler 9.5.2. Tour Group 9.5.3. Package Traveler 9.6. Current Market Analysis By Consumer Orientation (% of Demand) 9.6.1. Men 9.6.2. Women 9.7. Current Market Analysis By Age Group (% of Demand) 9.7.1. 15-25 Years 9.7.2. 26-35 Years 9.7.3. 36-45 Years 9.7.4. 46-55 Years 9.7.5. 66-75 Years 9.8. Current Market Analysis By Country (% of Demand) 9.8.1. China 9.8.2. Japan 9.8.3. South Korea 9.9. Key Findings, By Each Category 10. Categorizing of South Asia Market 2021 10.1. Introduction/ Key Findings 10.2. Current Market Analysis by Hotel Type (% of Demand) 10.2.1. Capsule Hotels 10.2.2. Rolling Hotels 10.2.3. Snooze box 10.2.4. Others 10.3. Current Market Analysis By Booking Channel (% of Demand) 10.3.1. Phone Booking 10.3.2. Online Booking 10.3.3. In-Person Booking 10.4. Current Market Analysis By Tourist Type (% of Demand) 10.4.1. Domestic 10.4.2. International 10.5. Current Market Analysis By Tour Type (% of Demand) 10.5.1. Independent Traveler 10.5.2. Tour Group 10.5.3. Package Traveler 10.6. Current Market Analysis By Consumer Orientation (% of Demand) 10.6.1. Men 10.6.2. Women 10.7. Current Market Analysis By Age Group (% of Demand) 10.7.1. 15-25 Years 10.7.2. 26-35 Years 10.7.3. 36-45 Years 10.7.4. 46-55 Years 10.7.5. 66-75 Years 10.8. Current Market Analysis By Country (% of Demand) 10.8.1. India 10.8.2. Malaysia 10.8.3. Indonesia 10.8.4. Thailand 10.8.5. Philippines 10.8.6. Cambodia 10.8.7. Vietnam 10.8.8. Rest of SA 10.9. Key Findings, By Each Category 11. Categorizing of Oceania Market 2021 11.1. Introduction/ Key Findings 11.2. Current Market Analysis by Hotel Type (% of Demand) 11.2.1. Capsule Hotels 11.2.2. Rolling Hotels 11.2.3. Snooze Box 11.2.4. Others 11.3. Current Market Analysis By Booking Channel (% of Demand) 11.3.1. Phone Booking 11.3.2. Online Booking 11.3.3. In-Person Booking 11.4. Current Market Analysis By Tourist Type (% of Demand) 11.4.1. Domestic 11.4.2. International 11.5. Current Market Analysis By Tour Type (% of Demand) 11.5.1. Independent Traveler 11.5.2. Tour Group 11.5.3. Package Traveler 11.6. Current Market Analysis By Consumer Orientation (% of Demand) 11.6.1. Men 11.6.2. Women 11.7. Current Market Analysis By Age Group (% of Demand) 11.7.1. 15-25 Years 11.7.2. 26-35 Years 11.7.3. 36-45 Years 11.7.4. 46-55 Years 11.7.5. 66-75 Years 11.8. Current Market Analysis By Country (% of Demand) 11.8.1. Australia 11.8.2. New Zealand 11.9. Key Findings, By Each Category 12. Categorizing of Middle East and Africa Market 2021 12.1. Introduction/ Key Findings 12.2. Current Market Analysis By Revenue Source (% of Demand) 12.2.1. Capsule box 12.2.2. Rolling Hotels 12.2.3. Snooze box 12.2.4. Others 12.3. Current Market Analysis By Booking Channel (% of Demand) 12.3.1. Phone Booking 12.3.2. Online Booking 12.3.3. In-Person Booking 12.4. Current Market Analysis By Tourist Type (% of Demand) 12.4.1. Domestic 12.4.2. International 12.5. Current Market Analysis By Tour Type (% of Demand) 12.5.1. Independent Traveler 12.5.2. Tour Group 12.5.3. Package Traveler 12.6. Current Market Analysis By Consumer Orientation (% of Demand) 12.6.1. Men 12.6.2. Women 12.7. Current Market Analysis By Age Group (% of Demand) 12.7.1. 15-25 Years 12.7.2. 26-35 Years 12.7.3. 36-45 Years 12.7.4. 46-55 Years 12.7.5. 66-75 Years 12.8. Current Market Analysis By Country (% of Demand) 12.8.1. Turkey 12.8.2. South Africa 12.8.3. United Arab Emirates(UAE) 12.8.4. Egypt 12.8.5. Jordan 12.8.6. Rest of Middle East and Africa(MEA) 12.9. Key Findings, By Each Category 13. Competition Analysis 13.1. Competition Dashboard 13.2. Competition Benchmarking 13.3. Competition Deep Dive 13.3.1. Marriot International 13.3.1.1. Overview 13.3.1.2. Service Portfolio 13.3.1.3. Strategy Overview/campaigns 13.3.2. Hyatt Hotel Corporation 13.3.2.1. Overview 13.3.2.2. Service Portfolio 13.3.2.3. Strategy Overview/campaigns 13.3.3. Hilton Worldwide Holdings 13.3.3.1. Overview 13.3.3.2. Service Portfolio 13.3.3.3. Strategy Overview/campaigns 13.3.4. Lemon tree Hotels 13.3.4.1. Overview 13.3.4.2. Service Portfolio 13.3.4.3. Strategy Overview/campaigns 13.3.5. Radisson Hospitality 13.3.5.1. Overview 13.3.5.2. Service Portfolio 13.3.5.3. Strategy Overview/campaigns 13.3.6. Mgm resorts 13.3.6.1. Overview 13.3.6.2. Service Portfolio 13.3.6.3. Strategy Overview/campaigns 13.3.7. Indian Hotel Company 13.3.7.1. Overview 13.3.7.2. Service Portfolio 13.3.7.3. Strategy Overview/campaigns 13.3.8. Bharat Hotels limited 13.3.8.1. Overview 13.3.8.2. Service Portfolio 13.3.8.3. Strategy Overview/campaigns 13.3.9. The Leela palace 13.3.9.1. Overview 13.3.9.2. Service Portfolio 13.3.9.3. Strategy Overview/campaigns 13.3.10. Pan pacific 13.3.10.1. Overview 13.3.10.2. Service Portfolio 13.3.10.3. Strategy Overview/campaigns 13.3.11. Intercontinental Hotels 13.3.11.1. Overview 13.3.11.2. Service Portfolio 13.3.11.3. Strategy Overview/campaigns 13.3.12. Tc limited 13.3.12.1. Overview 13.3.12.2. Service Portfolio 13.3.12.3. Strategy Overview/campaigns 13.3.13. Choice Hotels 13.3.13.1. Overview 13.3.13.2. Service Portfolio 13.3.13.3. Strategy Overview/campaigns 13.3.14. Other Players (As Per Request) 13.3.14.1. Overview 13.3.14.2. Service Portfolio 13.3.14.3. Strategy Overview/campaigns 14. Social Media Sentimental Analysis 14.1. Social Media Platforms Preferred 14.1.1. Facebook 14.1.2. YouTube 14.1.3. Instagram 14.1.4. Twitter 14.1.5. LinkedIn 14.1.6. Pinterest 14.1.7. Google+ 14.1.8. Others 14.2. Consumer Perception for Destinations On Social Media Platforms-Positive and Negative Mentions 14.3. Trending #Hashtags 14.4. Social Media Platform Mentions (% of Total Mentions) 14.5. Trending Subject Titles 15. Assumptions and Acronyms Used 16. Research Methodology
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