PUBLISHER: KBV Research | PRODUCT CODE: 1511429
PUBLISHER: KBV Research | PRODUCT CODE: 1511429
The Latin America, Middle East and Africa Capsule Hotel Market would witness market growth of 8.9% CAGR during the forecast period (2024-2031).
The Brazil market dominated the LAMEA Capsule Hotel Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $5,762.6 Thousands by 2031. The Argentina market is registering a CAGR of 9.5% during (2024 - 2031). Additionally, The UAE market would showcase a CAGR of 8.4% during (2024 - 2031).
Capsule hotels can serve as temporary housing solutions for displaced individuals or emergency responders in emergencies, natural disasters, or unexpected travel disruptions. They provide a safe and secure environment with basic amenities during challenging circumstances.
Moreover, capsule hotels offer overflow accommodations for attendees seeking proximity to event venues during major events, festivals, and conventions. They provide a convenient alternative to traditional hotels, which may be fully booked or expensive during peak periods.
The UAE attracts diverse international visitors with unique cultural backgrounds and preferences. Capsule hotels can blend modern amenities with local cultural experiences, providing guests with a distinctive stay that reflects trends and Emirati hospitality. According to the UAE Government, in 2022, the travel and tourism industry in the UAE contributed approximately AED 167 billion to the GDP, accounting for about 9% of the total economic output. In 2022, the total spending of international tourists amounted to AED 117.6 billion.
Based on Booking Mode, the market is segmented into Offline Booking and Online Booking. Based on Age Group, the market is segmented into Generation Y, Generation Z, and Generation X. Based on Traveler Type, the market is segmented into Solo and Group. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
List of Key Companies Profiled
LAMEA Capsule Hotel Market Report Segmentation
By Booking Mode
By Age Group
By Traveler Type
By Country