August 3, 2012 – With the financial crisis having no light at the end of the tunnel, many industries are suffering. However, one industry bucking this trend is the hostel accommodation industry. New research has been released by the world’s number one hostel website for booking, Hostelworld.com. Research shows that 94% of people that are traveling on vacation this summer would take into consideration staying at a hostel accommodation. More than 80% of the people surveyed in the research also said the most trusted booking site for hostels was Hostelworld.com.
The study was taken worldwide and questioned more than 5,000 from 141 countries. It found that the majority of accommodations for travelers today are based on rates. Of the people who were questioned, close to 90% said they would not be prepared to pay in excess of $100 per night for their accommodations. The majority, 54%, said they would be willing to lower their accommodation budget in order to enjoy the holiday of their choice.
Because of the financial crisis and the lack of disposable income, the hostel industry is booming globally. Both the hostel owners are earning money and vacationers are able to stay longer and spend more money on other parts of their vacation. The survey showed that over 50% of travelers were planning to extend their vacation.