Global hotel development numbers took a huge leap forward last year. By the end of 2024, there were nearly 16,000 new hotels in various stages of construction around the world. These numbers were primarily driven by growth in both the United States and China which accounted for a combined 64% of that cumulative development. That is a reported 2.1 million new rooms on the way.
This comes as no surprise since China has become one of the most popular tourist destinations around. The number of international tourists visiting China has increased dramatically over the past few years and is now in the tens of millions. Domestic travel has boomed even more with the reported totals in the billions in 2024. As such, increasing numbers of hotel developments, particularly in major centers such as Beijing, Shanghai, and Chongqing, only makes sense.
Additionally, the economy in the United States also has an incredibly strong tourism component. International travel to the US contributed approximately $155 billion USD to their economy in 2023. That increased in 2024 and quite naturally led to continued development of related infrastructure, such as hotels. How the Trump Administration impacts all of this remains to be seen as worldwide travelers are becoming increasingly wary of heading to the United States while he is in office.
Hotel development in Europe appears to be much slower than in other regions, accounting for only 10% of the 2024 numbers. Many of Europe's most popular destinations have been dealing with various problems associated with over tourism. These countries have enacted new laws in an attempt to mitigate these issues, some of which will dissuade tourists from going. Slower development of new hotels may be an offshoot of local attempts to control tourist numbers.