, /PRNewswire/ -- The is estimated to grow by from 2021 to 2026, according to Technavio. The market is estimated to grow at a during the forecast period. The growth of the market is driven by increasing affordability and rising disposable income. The income levels of consumers have increased significantly in developing countries such as . For instance, between 2016 and 2020, witnessed a 35.

5% growth in per capita income. This has directly influenced the individual's spending capability in . In addition, the increasing working women population has created a financial boost in the overall income of people, enabling consumers to spend on recreational activities. All these factors are fostering the growth of the hotel market in . Technavio has segmented the market based on type (chain hotels and independent hotels) and application (tourist accommodation and official business).

Some of the key vendors covered in the report include: – Technavio is a leading technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Technavio Research Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: Website: SOURCE Technavio