40 Least-Welcoming Countries in the World

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In this article, we shall discuss 40 least-welcoming countries in the world. To skip our detailed analysis of the global hospitality sector in 2023, go directly and see 10 Least-Welcoming Countries in the World.

The global hospitality industry is valued at $4.6 trillion as of 2023 and is expected to rise to $5.8 trillion by 2027, marking a CAGR of 5.5%.  According to a market report by CBRE, the rebound of global travel patterns are expected to normalize hotel market fundamentals to pre-pandemic levels in 2024.  The relaxation of travel restrictions in China and Japan, alongside a resurging Chinese economic outlook, is forecasted to return APAC region RevPAR (revenue per available room) to pre-pandemic levels in 2024. According to an analysis by Forbes, hotel wages have risen more than 19% from 2020 to 2023 even in some of the least-welcoming countries in the world, making the industry a more attractive first-choice prospect for college graduates looking to join the workforce. Market performance of the global hospitality sector has surpassed other competing industries like technology and retail with the gap increasing in the latter half of 2023. The post-pandemic demand for travel remains substantial which should drive continued growth in 2024, with RevPAR up more than 8.3% in 2023 from 2019 in the US. RevPAR exceeded GDP growth within the current economic cycle and overall, the hospitality industry looks poised for a strong year in 2024. Some of the largest players in the hospitality industry are Marriott International (NYSE:MAR), Hilton Worldwide Holdings Inc. (NYSE:HLT), and MGM Resorts International (NYSE:MGM).

According to Ernst and Young, this rampant growth within the hospitality sector is largely owing to the recovery of business travel globally as companies ramp up travel budgets. The frequency and popularity of trade shows and conferences post the pandemic points to the pent-up demand which persists across industries. Certain analysts cited the growth of the work-from-home segment in recent years as a cautionary note for the hotel industry in coming years; however, it has since become apparent that the growth in the work-from-home segment has been an essential proponent of the resurgence of the hospitality industry as employees are now building their travel plans around both business and leisure. "Bleisure travel", where business executives add a day or some budget extra time in their work trip for sightseeing or other kinds of leisure activity. Hence, these developments in the market points to increased revenue and continued recovery of the global hospitality sector in 2024 even in the least-welcoming countries in the world. You can read more on the resurgence of the travel industry in our article 12 Best Travel Stocks to Buy Right Now.