Global hostel market to reach $8.89 billion by 2027
A hostel is a type of low-cost, short-term shared convivial lodging in which guests can rent a bed, usually a bunk bed in a dormitory, as well as shared use of a lounge and, occasionally, a kitchen.
Hostels provide advantages such as lower expenses and the opportunity to meet people from all over the world, find travel partners, and share travel ideas.