tourism sector market share

Report Description

Table of content, competitive landscape, methodology.

• Consumer Goods
• Travel & Luxury Travel
• Tourism Market Size, Share, Growth & Industry Trends [2032]

Tourism Market

Segments - by Travel Days (Within 7 Days, More Than 15 Days, and 7-15 Days), Travel Type (Business Spending and Leisure Spending), and Region (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2024–2032

Debadatta Patel

Fact-checked by:

Partha Paul

Tourism Market Outlook 2032

The global tourism market size was USD 12.4 Trillion in 2023 and is projected to reach USD 23.1 Trillion by 2032 , expanding at a CAGR of 5.4% during 2024–2032 . The market growth is attributed to the increasing standard of living and mobility. Increasing global mobility and disposable income are expected to boost the market. Tourism offers immense opportunities for economic growth and job creation as one of the world's largest economic sectors. It generates revenue, fosters cultural exchange, promotes peace, and helps preserve natural and cultural heritage.

Rising popularity of experiential tourism is projected to signify a shift in consumer preferences from traditional sightseeing to immersive experiences. Today's tourists seek authentic, personalized experiences that allow them to connect with local cultures, learn new skills, and gain a deeper understanding of their destinations. This trend is driving innovation in the tourism industry, with businesses developing unique offerings to cater to these evolving demands.

Impact of Artificial Intelligence (AI) in Tourism Market

Artificial Intelligence (AI) has a significant impact on tourism market. AI's role in enhancing customer service is particularly noteworthy, with chatbots and virtual assistants providing round-the-clock assistance, thereby improving response times and customer satisfaction. AI's ability to analyze vast amounts of data allows for the creation of highly personalized travel recommendations, enhancing customer engagement and fostering loyalty. AI-powered predictive analytics enable businesses to forecast demand accurately, optimize pricing strategies, and manage resources effectively on the operational side. Additionally, AI's role in automating routine tasks reduces operational costs and allows staff to focus on complex, value-adding activities.

Tourism Market Dynamics

Major drivers.

Surging globalization is expected to drive the market. Travel becomes easier and accessible as the world becomes interconnected. This trend is projected to boost the market, as it facilitates international travel and promotes cultural exchange. Rising government initiatives promoting tourism is projected to propel the market. Governments worldwide are estimated to invest in tourism infrastructure and marketing to attract international visitors. These initiatives are expected to boost the tourism market, as they enhance the accessibility and attractiveness of travel destinations.

Existing Restraints

Increasing environmental concerns are expected to pose a significant challenge to the market. The industry's impact on natural resources, pollution, and climate change is leading to growing scrutiny. This trend is projected to intensify, leading to stricter regulations and a decrease in tourist activities in certain regions. Growing security concerns are projected to act as a restraint on the market. Instances of terrorism, political instability, and natural disasters significantly deter tourists. This factor is likely to continue to influence the decisions of travelers, limiting the market.

Emerging Opportunities

­Increasing adoption of digital technology is projected to present a significant opportunity for the market. An increasing number of travelers are expected to use digital platforms for booking and planning their trips as technology advances. This trend is projected to open new avenues for market players, as they offer innovative and convenient digital solutions for travelers. High demand for wellness and medical tourism is expected to present potential for the market. Consumers are projected to seek travel experiences that promote wellness as health and wellness become important to them. This demand is likely to create opportunities for market players, as they develop and offer wellness-focused travel products and services.

Scope of the Tourism Market Report

The market report includes an assessment of the market trends, segments, and regional markets. Overview and dynamics are included in the report.

Regional Outlook

In terms of region , the global tourism market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Europe, specifically France held a major market share in 2023 due to its rich cultural heritage, world-renowned landmarks such as the Eiffel Tower and the Louvre, and its reputation as a global culinary capital. Additionally, France's well-developed infrastructure and strategic location in Europe, which allows for easy travel from neighboring countries, further bolstered its market share. The market in Asia Pacific, particularly China is projected to grow at a significant pace in the years to come owing to China's rich cultural history, diverse landscapes, and rapid urban development making it an increasingly attractive destination for international travelers. China's growing middle class is driving domestic tourism , contributing to its overall market share. The government of China’s initiatives to boost tourism, such as improving infrastructure and easing visa restrictions, are expected to enhance its appeal as a travel destination, thereby driving its market.

Tourism Market Segment Insights

Travel days segment analysis.

Based on travel days , the tourism market is divided into within 7 days, more than 15 days, and 7-15 days. The 7-15 days segment held the major share of the market in 2023 due to this duration offering an optimal balance between exploration and relaxation, enabling travelers to immerse themselves in the destination without feeling rushed. The rise of this segment is attributed to the increasing preference for comprehensive travel experiences that allow for a deeper understanding of the local culture and environment. The 7 days segment is expected to expand at a significant growth rate in the coming years owing to the growing demand for short, frequent getaways that provide a quick respite from daily routines. The convenience and affordability of these shorter trips and the increasing availability of weekend packages and city breaks, is expected to fuel the segment.

Travel Type Segment Analysis

On the basis of travel type , the global market is segregated into business spending and leisure spending. The business spending segment held largest market share in 2023 due to the necessity of face-to-face meetings and networking events in many industries. Despite the rise of digital communication tools, in-person interactions remain crucial in the business world, leading to a steady demand for business travel. The leisure spending segment is anticipated to grow at a substantial CAGR during the forecast period owing to the growing emphasis on work-life balance and the recognition of travel as a means of relaxation and rejuvenation. The increasing disposable income and the rising trend of experiential travel is projected to drive the segment in the coming years.

The tourism market has been segmented on the basis of

Travel Days

• Within 7 Days
• More Than 15 Days

Travel Type

• Business Spending
• Leisure Spending
• Asia Pacific
• North America
• Latin America
• Middle East & Africa

Key Players

• Austin Adventures, Inc.
• Butterfield & Robinson Inc.
• Cox & Kings Ltd.
• Discovery Nomads
• G Adventures
• Geographic Expeditions Inc.
• Intrepid Group, ltd.
• Mountain Travel Sobek
• Row Adventures

Key players competing in the global tourism market are Austin Adventures, Inc.; Butterfield & Robinson Inc.; Cox & Kings Ltd.; Discovery Nomads; G Adventures; Geographic Expeditions Inc.; Intrepid Group, ltd.; Mountain Travel Sobek; Row Adventures; and Tui Group. These companies use development strategies including mergers, acquisitions, partnerships, collaboration, and product launches to expand their consumer base worldwide.

In January 2021 , Geographic Expeditions Inc. , a key market player, initiated a three-country expedition across the Horn of Africa, encompassing less explored destinations such as Eritrea, Djibouti, and the self-proclaimed nation of Somaliland.

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Global Market Size of Travel and Tourism (2017-2021, $ Billion) Share Share on Twitter Share on LinkedIn Industry: Travel services Current: Market Sizing & Shares The market size of the travel and tourism sector globally reached a value of $631 billion in 2021 The travel and tourism market globally grew by 43% in 2021 as the sector witnessed a recovery in the demand Key travel destinations among travelers globally include Machu Picchu, Galapagos Islands, Cusco City, Dubai, Thailand, Vietnam, Hong Kong, France, Italy, Istanbul, and Easter Island !function(){"use strict";window.addEventListener("message",(function(e){if(void 0!==e.data["datawrapper-height"]){var t=document.querySelectorAll("iframe");for(var a in e.data["datawrapper-height"])for(var r=0;r Global Market Size of Travel and Tourism: Industry Overview

Travel and Tourism is one of the key sectors that play a pivotal role in any Country’s Economy and make a significant contribution to the country’s GDP. This growth in travel and tourism activities globally has led to the rise of travel intermediaries and forms an important part of selling travel products to customers.

The market size of the travel and tourism sector globally reached a value of $631 billion in 2021. In recent years, the rise in the number of online travel intermediaries was aided by the growth in the number of internet users along with the demand for convenience among travelers further supported the rise in the market for online travel Intermediaries.

The travel and tourism market globally grew by 43% in 2021 as the sector witnessed a recovery in the demand after easing the restrictions which were placed on account of the Outbreak of the pandemic COVID-19 and online travel intermediaries’ sharp rise in travel products as the consumers planned their travel activities after the gap of close to two years.

Meanwhile, the growth which the travel and tourism sector was going to see was reversed as the Outbreak of the COVID-19 pandemic completely devastated the industry in 2020. During the year 2020, the market value of travel and tourism globally saw a de-growth of a whopping 62%, and the sectors allied with the industry were severely impacted.

Key travel destinations among travelers globally include Machu Picchu, Galapagos Islands, Cusco City, Dubai, Thailand, Vietnam, Hong Kong, France, Italy, Istanbul, and Easter Island.

The travel and tourism market across global grew at a compound annual growth rate of negative 13% during the period 2017-2021. The global travel industry along with its allied sectors saw a slump in market value with the pandemic in 2020. Prior, to 2020, the industry was also witnessing slow growth due to low economic growth.

The major companies that have a strong presence in the travel and tourism global market include BCD Travel, Expedia , and Booking.com.

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Global Tourism - Market Size, Industry Analysis, Trends and Forecasts (2024-2029)

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Industry statistics and trends.

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Global Tourism

Industry Revenue

Total value and annual change from . Includes 5-year outlook.

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Trends and Insights

Market size is projected to over the next five years.

Market share concentration for the Global Tourism industry is , which means the top four companies generate of industry revenue.

The average concentration in the sector in Global is .

Products & Services Segmentation

Industry revenue broken down by key product and services lines.

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Table of Contents

About this industry, industry definition, what's included in this industry, industry code, related industries, domestic industries, competitors, complementors, international industries, performance, key takeaways, revenue highlights, employment highlights, business highlights, profit highlights, current performance.

What's driving current industry performance in the Global Tourism industry?

What's driving the Global Tourism industry outlook?

What influences volatility in the Global Tourism industry?

• Industry Volatility vs. Revenue Growth Matrix

What determines the industry life cycle stage in the Global Tourism industry?

• Industry Life Cycle Matrix

Products and Markets

Products and services.

• Products and Services Segmentation

How are the Global Tourism industry's products and services performing?

What are innovations in the Global Tourism industry's products and services?

Major Markets

• Major Market Segmentation

What influences demand in the Global Tourism industry?

International Trade

• Industry Concentration of Imports by Country
• Industry Concentration of Exports by Country
• Industry Trade Balance by Country

What are the import trends in the Global Tourism industry?

What are the export trends in the Global Tourism industry?

Geographic Breakdown

Business locations.

• Share of Total Industry Establishments by Region ( )

Data Tables

• Number of Establishments by Region ( )
• Share of Establishments vs. Population of Each Region

What regions are businesses in the Global Tourism industry located?

Competitive Forces

Concentration.

• Combined Market Share of the Four Largest Companies in This Industry ( )
• Share of Total Enterprises by Employment Size

What impacts market share in the Global Tourism industry?

Barriers to Entry

What challenges do potential entrants in the Global Tourism industry?

Substitutes

What are substitutes in the Global Tourism industry?

Buyer and Supplier Power

• Upstream Buyers and Downstream Suppliers in the Global Tourism industry

What power do buyers and suppliers have over the Global Tourism industry?

Market Share

Top companies by market share:

• Market share
• Profit Margin

Company Snapshots

Company details, summary, charts and analysis available for

Company Details

• Total revenue
• Total operating income
• Total employees
• Industry market share

Company Summary

• Description
• Brands and trading names
• Other industries

What's influencing the company's performance?

External Environment

External drivers.

What demographic and macroeconomic factors impact the Global Tourism industry?

Regulation and Policy

What regulations impact the Global Tourism industry?

What assistance is available to the Global Tourism industry?

Financial Benchmarks

Cost structure.

• Share of Economy vs. Investment Matrix
• Depreciation

What trends impact cost in the Global Tourism industry?

Financial Ratios

• 3-4 Industry Multiples (2018-2023)
• 15-20 Income Statement Line Items (2018-2023)
• 20-30 Balance Sheet Line Items (2018-2023)
• 7-10 Liquidity Ratios (2018-2023)
• 1-5 Coverage Ratios (2018-2023)
• 3-4 Leverage Ratios (2018-2023)
• 3-5 Operating Ratios (2018-2023)
• 5 Cash Flow and Debt Service Ratios (2018-2023)
• 1 Tax Structure Ratio (2018-2023)

Data tables

• IVA/Revenue ( )
• Imports/Demand ( )
• Exports/Revenue ( )
• Revenue per Employee ( )
• Wages/Revenue ( )
• Employees per Establishment ( )
• Average Wage ( )

Key Statistics

Industry data.

Including values and annual change:

• Revenue ( )
• Establishments ( )
• Enterprises ( )
• Employment ( )
• Exports ( )
• Imports ( )

Frequently Asked Questions

What is the market size of the global tourism industry.

The market size of the Global Tourism industry is measured at in .

How fast is the Global Tourism market projected to grow in the future?

Over the next five years, the Global Tourism market is expected to . See purchase options to view the full report and get access to IBISWorld's forecast for the Global Tourism from up to .

What factors are influencing the Global Tourism industry market trends?

Key drivers of the Global Tourism market include .

What are the main product lines for the Global Tourism market?

The Global Tourism market offers products and services including .

Which companies are the largest players in the Global Tourism industry?

Top companies in the Global Tourism industry, based on the revenue generated within the industry, includes .

How many people are employed in the Global Tourism industry?

The Global Tourism industry has employees in Global in .

How concentrated is the Global Tourism market in Global?

Market share concentration is for the Global Tourism industry, with the top four companies generating of market revenue in Global in . The level of competition is overall, but is highest among smaller industry players.

Methodology

Where does ibisworld source its data.

IBISWorld is a world-leading provider of business information, with reports on 5,000+ industries in Australia, New Zealand, North America, Europe and China. Our expert industry analysts start with official, verified and publicly available sources of data to build an accurate picture of each industry.

Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and IBISWorld's proprietary database of statistics and analysis to provide balanced, independent and accurate insights. 

IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools.

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Travel and Tourism Market

Travel and Tourism Market (Type: Leisure, Educational, Business, Sports, Medical Tourism, and Others; and Application: Domestic and International) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2023-2031

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Global Travel and Tourism Market Outlook 2031

• The global industry was valued at US$ 615.2 Bn in 2022
• It is estimated to grow at a CAGR of 5.3% from 2023 to 2031 and reach US$ 972.5 Bn by the end of 2031

Analysts’ Viewpoint on Market Scenario Growth in disposable income, affordable commutes, easy accessibility of remote locations, and emerging travel trends are major factors boosting the travel and tourism market growth during the forecast period. Rise in government investment in the tourism sector is also projected to drive demand for travel and tourism in the next few years. Surge in adoption of IoT is likely to offer lucrative opportunities to players in the global travel and tourism industry. However, political instability, natural disasters, and implementation of stringent immigration policies are estimated to limit the travel and tourism market progress in the near future.

Market Introduction

Travel and tourism refers to the movement of people from one place to another due to various reasons such as leisure, education, business, and sports. It can be domestic, overseas, short distance, or long distance. The tourism sector is witnessing immense growth opportunities around the globe owing to rise in discretionary income, governmental support, infrastructural development, and technical integration to facilitate easy commutes.

Online booking platforms, mobile apps , and travel websites are gaining traction among travelers. Rapid globalization has led to a more interconnected world through trade, social media networks, business, and culture. Thus, people are traveling within and out of their borders with ease. These scenarios and travel trends are expected to augment the travel and tourism market value in the next few years.

Social media platforms and online websites are being used widely to promote various tourist destinations and hospitality and leisure facilities. They are attracting travelers through influencer marketing , travel blogs, articles, and user-generated content. This, in turn, is projected to spur growth of the travel and tourism industry. Moreover, increase in investment in infrastructural development and emergence of new travel trends among millennials are boosting the travel and tourism market size.

Tourism is becoming one of the major sectors driving a country’s revenue. Thus, governments across the globe are promoting and investing heavily in the sector, which is leading to improvements in public transportation, tourist destinations, and accommodation facilities. According to the latest travel and tourism market trends, travel and tourism is gaining traction among the middle-class population due to surge in disposable income.

In 2019, an average household in the U.S. spent around US$ 2,100 on travel. Security and health concerns play a major role in the tourism sector. This average dropped to US$ 926 post the emergence of the COVID-19 pandemic in 2020. Thus, travelers prefer safe and secure destinations.

Rise in Government Investment in Travel and Tourism Sector

The tourism sector across the globe is growing at a rapid pace, especially after COVID-19 lockdowns were lifted. Major governments are focusing on promoting and enhancing tourist traffic. In India, the Ministry of Tourism, under the CSSS Scheme of ‘Incentive to Tour Operators for Enhancing Tourist Arrivals to India’ is extending financial incentives to foreign tour operators, approved by the government. These promotional activities are contributing to the market size of travel and tourism.

Accessibility to remote yet beautiful tourist places and increase in popularity of travel destinations through online platforms has resulted in the tourist industry emerging as one of the key sectors in many countries. According to the U.S. Department of Commerce, International arrivals to the U.S. grew from 19.2 million in 2020 to 22.1 million in 2021. Moreover, the U.S. government is focusing on attracting around 90 million international visitors who are expected to spend approximately US$ 279 Bn annually by 2027. Hence, rise in number of international visitors is estimated to fuel the travel and tourism market.

Surge in Disposable Income

Rise in digital transformation and growth in penetration of the internet are offering emerging opportunities in the travel and tourism market. Online resources provide convenience in booking flight tickets and hotels and searching for places to plan trips.

Increase in disposable income provides a sense of economic stability, in which people tend to spend on leisure activities such as travel. Families are more likely to plan vacations, leading to surge in demand for trips and tourism. The gross national disposable income in India reached US$ 3,182.4 Bn in the financial year 2021-2022, recording a growth of 17.4% compared to the previous year. In the U.S., personal income increased US$ 45.0 billion (0.2% at a monthly rate) in July 2023, according to the Bureau of Economic Analysis. Hence, rise in disposable income is projected to boost the travel and tourism market revenue during the forecast period.

Regional Outlook

According to the latest travel and tourism market forecast, Asia Pacific is anticipated to hold largest share from 2023 to 2031. Rise in disposable income and growth in government investment are fueling the market dynamics of the region. Geographical advantages, increase in number of international travelers, and presence of a well-established tourism sector are driving the travel and tourism market statistics in North America.

Analysis of Key Players

Most travel and tourism service providers are offering lucrative tour packages to attract more travelers. They are also investing heavily in promotional activities to increase their travel and tourism market share.

Accor, Adris Grupa d.d., Airbnb, Inc., Balkan Holidays Ltd., Carnival Corporation & plc, Crown Resorts Ltd., G Adventures, Hilton Worldwide Holdings Inc., TUI Group, Travel Leaders Group, LLC, Insight Vacations, and Frosch International Travel, Inc. are key players in the travel and tourism market.

Key Developments

• In August 2023 , G Adventures added two new National Geographic Family Journeys in Italy and Tanzania. The eight-day Tanzania Family Journey is expected to take families on game drives in the Serengeti throughout the tour and include a visit to a community tourism project.
• In July 2023 , TUI Group released a ChatGPT-powered chatbot on its U.K. app, the first of what is expected to be a wave of rollouts that incorporates generative AI into the company’s tech, to help consumers search through its own portfolio of products
• In February 2023 , Adris announced plans to invest US$ 511 Mn in its tourism arm Maistra until 2025 with an aim to boost its luxury segment

Travel and Tourism Market Snapshot

Frequently asked questions, how big was the travel and tourism market in 2022.

It was valued at US$ 615.2 Bn in 2022

What would be the CAGR of the travel and tourism industry during the forecast period?

It is estimated to be 5.3% from 2023 to 2031

How big will the travel and tourism business be in 2031?

It is projected to reach US$ 972.5 Bn by the end of 2031

What are the prominent factors driving demand for travel and tourism?

Rise in government investment in travel and tourism sector and surge in disposable income

Which region is likely to record the highest demand for travel and tourism?

Asia Pacific is anticipated to record the highest demand from 2023 to 2031

Who are the prominent travel and tourism service providers?

Accor, Adris Grupa d.d., Airbnb, Inc., Balkan Holidays Ltd., Carnival Corporation & plc, Crown Resorts Ltd., G Adventures, Hilton Worldwide Holdings Inc., TUI Group, Travel Leaders Group, LLC, Insight Vacations, and Frosch International Travel, Inc.

    1.1. Market Definition and Scope

    1.2. Market Segmentation

    1.3. Key Research Objectives

    1.4. Research Highlights

2. Assumptions

3. Research Methodology

4. Executive Summary

5. Market Overview

    5.1. Market Dynamics

        5.1.1. Drivers

        5.1.2. Restraints

        5.1.3. Opportunities

    5.2. Key Trends Analysis

        5.2.1. Demand Side Analysis

        5.2.2. Supply Side Analysis

    5.3. Key Market Indicators

        5.3.1. Overall Entertainment Market Overview

    5.4. Industry SWOT Analysis

    5.5. Porter’s Five Forces Analysis

    5.6. Value Chain Analysis

    5.7. Service Provider Analysis

    5.8. Global Travel and Tourism Market Analysis and Forecast, 2017 - 2031

        5.8.1. Market Value Projection (US$ Bn)

6. Global Travel and Tourism Market Analysis and Forecast, By Type

    6.1. Travel and Tourism Market (US$ Bn), By Type, 2017 - 2031

        6.1.1. Leisure

        6.1.2. Educational

        6.1.3. Business

        6.1.4. Sports

        6.1.5. Medical Tourism

        6.1.6. Others (Event Travel, Volunteer Travel, etc.)

    6.2. Incremental Opportunity, By Type

7. Global Travel and Tourism Market Analysis and Forecast, By Application

    7.1. Travel and Tourism Market (US$ Bn), By Application, 2017 - 2031

        7.1.1. Domestic

        7.1.2. International

    7.2. Incremental Opportunity, By Application

8. Global Travel and Tourism Market Analysis and Forecast, By Traveler Type

    8.1. Travel and Tourism Market (US$ Bn), By Traveler Type, 2017 - 2031

        8.1.1. Solo Traveler

        8.1.2. Couple Traveler

        8.1.3. Group Traveler

    8.2. Incremental Opportunity, By Traveler Type

9. Global Travel and Tourism Market Analysis and Forecast, By Travel Days

    9.1. Travel and Tourism Market (US$ Bn), By Travel Days, 2017 - 2031

        9.1.1. Less than 7 Days

        9.1.2. 8-15 Days

        9.1.3. 16-30 Days

        9.1.4. More than 30 Days

    9.2. Incremental Opportunity, By Travel Days

10. Global Travel and Tourism Market Analysis and Forecast, By Travel Mode

    10.1. Travel and Tourism Market (US$ Bn), By Travel Mode, 2017 - 2031

        10.1.1. Travel Packages

        10.1.2. Self-catered

    10.2. Incremental Opportunity, By Travel Mode

11. Global Travel and Tourism Market Analysis and Forecast, By Booking

    11.1. Travel and Tourism Market (US$ Bn), By Booking, 2017 - 2031

        11.1.1. Online

        11.1.2. Offline

    11.2. Incremental Opportunity, By Booking

12. Global Travel and Tourism Market Analysis and Forecast, by Region

    12.1. Travel and Tourism Market (US$ Bn), by Region, 2017 - 2031

        12.1.1. North America

        12.1.2. Europe

        12.1.3. Asia Pacific

        12.1.4. Middle East & Africa

        12.1.5. South America

    12.2. Incremental Opportunity, by Region

13. North America Travel and Tourism Market Analysis and Forecast

    13.1. Regional Snapshot

    13.2. Price Trend Analysis

        13.2.1. Weighted Average Selling Price (US$)

    13.3. Demographic Overview

    13.4. Key Brand Analysis

    13.5. Key Trends Analysis

        13.5.1. Demand Side Analysis

        13.5.2. Supply Side Analysis

    13.6. Consumer Buying Behavior Analysis

    13.7. Travel and Tourism Market (US$ Bn), By Type, 2017 - 2031

        13.7.1. Leisure

        13.7.2. Educational

        13.7.3. Business

        13.7.4. Sports

        13.7.5. Medical Tourism

        13.7.6. Others (Event Travel, Volunteer Travel, etc.)

    13.8. Travel and Tourism Market (US$ Bn), By Application, 2017 - 2031

        13.8.1. Domestic

        13.8.2. International

    13.9. Travel and Tourism Market (US$ Bn), By Traveler Type, 2017 - 2031

        13.9.1. Solo Traveler

        13.9.2. Couple Traveler

        13.9.3. Group Traveler

    13.10. Travel and Tourism Market (US$ Bn), By Travel Days, 2017 - 2031

        13.10.1. Less than 7 Days

        13.10.2. 8-15 Days

        13.10.3. 16-30 Days

        13.10.4. More than 30 Days

    13.11. Travel and Tourism Market (US$ Bn), By Travel Mode, 2017 - 2031

        13.11.1. Travel Packages

        13.11.2. Self-catered

    13.12. Travel and Tourism Market (US$ Bn), By Booking, 2017 - 2031

        13.12.1. Online

        13.12.2. Offline

    13.13. Travel and Tourism Market (US$ Bn) Forecast, By Country, 2017 - 2031

        13.13.1. U.S.

        13.13.2. Canada

        13.13.3. Rest of North America

    13.14. Incremental Opportunity Analysis

14. Europe Travel and Tourism Market Analysis and Forecast

    14.1. Regional Snapshot

    14.2. Price Trend Analysis

        14.2.1. Weighted Average Selling Price (US$)

    14.3. Demographic Overview

    14.4. Key Brand Analysis

    14.5. Key Trends Analysis

        14.5.1. Demand Side Analysis

        14.5.2. Supply Side Analysis

    14.6. Consumer Buying Behavior Analysis

    14.7. Travel and Tourism Market (US$ Bn), By Type, 2017 - 2031

        14.7.1. Leisure

        14.7.2. Educational

        14.7.3. Business

        14.7.4. Sports

        14.7.5. Medical Tourism

        14.7.6. Others (Event Travel, Volunteer Travel, etc.)

    14.8. Travel and Tourism Market (US$ Bn), By Application, 2017 - 2031

        14.8.1. Domestic

        14.8.2. International

    14.9. Travel and Tourism Market (US$ Bn), By Traveler Type, 2017 - 2031

        14.9.1. Solo Traveler

        14.9.2. Couple Traveler

        14.9.3. Group Traveler

    14.10. Travel and Tourism Market (US$ Bn), By Travel Days, 2017 - 2031

        14.10.1. Less than 7 Days

        14.10.2. 8-15 Days

        14.10.3. 16-30 Days

        14.10.4. More than 30 Days

    14.11. Travel and Tourism Market (US$ Bn), By Travel Mode, 2017 - 2031

        14.11.1. Travel Packages

        14.11.2. Self-catered

    14.12. Travel and Tourism Market (US$ Bn), By Booking, 2017 - 2031

        14.12.1. Online

        14.12.2. Offline

    14.13. Travel and Tourism Market (US$ Bn) Forecast, By Country, 2017 - 2031

        14.13.1. U.K.

        14.13.2. Germany

        14.13.3. France

        14.13.4. Rest of Europe

    14.14. Incremental Opportunity Analysis

15. Asia Pacific Travel and Tourism Market Analysis and Forecast

    15.1. Regional Snapshot

    15.2. Price Trend Analysis

        15.2.1. Weighted Average Selling Price (US$)

    15.3. Demographic Overview

    15.4. Key Brand Analysis

    15.5. Key Trends Analysis

        15.5.1. Demand Side Analysis

        15.5.2. Supply Side Analysis

    15.6. Consumer Buying Behavior Analysis

    15.7. Travel and Tourism Market (US$ Bn), By Type, 2017 - 2031

        15.7.1. Leisure

        15.7.2. Educational

        15.7.3. Business

        15.7.4. Sports

        15.7.5. Medical Tourism

        15.7.6. Others (Event Travel, Volunteer Travel, etc.)

    15.8. Travel and Tourism Market (US$ Bn), By Application, 2017 - 2031

        15.8.1. Domestic

        15.8.2. International

    15.9. Travel and Tourism Market (US$ Bn), By Traveler Type, 2017 - 2031

        15.9.1. Solo Traveler

        15.9.2. Couple Traveler

        15.9.3. Group Traveler

    15.10. Travel and Tourism Market (US$ Bn), By Travel Days, 2017 - 2031

        15.10.1. Less than 7 Days

        15.10.2. 8-15 Days

        15.10.3. 16-30 Days

        15.10.4. More than 30 Days

    15.11. Travel and Tourism Market (US$ Bn), By Travel Mode, 2017 - 2031

        15.11.1. Travel Packages

        15.11.2. Self-catered

    15.12. Travel and Tourism Market (US$ Bn), By Booking, 2017 - 2031

        15.12.1. Online

        15.12.2. Offline

    15.13. Travel and Tourism Market (US$ Bn) Forecast, By Country, 2017 - 2031

        15.13.1. China

        15.13.2. India

        15.13.3. Japan

        15.13.4. Rest of Asia Pacific

    15.14. Incremental Opportunity Analysis

16. Middle East & Africa Travel and Tourism Market Analysis and Forecast

    16.1. Regional Snapshot

    16.2. Price Trend Analysis

        16.2.1. Weighted Average Selling Price (US$)

    16.3. Demographic Overview

    16.4. Key Brand Analysis

    16.5. Key Trends Analysis

        16.5.1. Demand Side Analysis

        16.5.2. Supply Side Analysis

    16.6. Consumer Buying Behavior Analysis

    16.7. Travel and Tourism Market (US$ Bn), By Type, 2017 - 2031

        16.7.1. Leisure

        16.7.2. Educational

        16.7.3. Business

        16.7.4. Sports

        16.7.5. Medical Tourism

        16.7.6. Others (Event Travel, Volunteer Travel, etc.)

    16.8. Travel and Tourism Market (US$ Bn), By Application, 2017 - 2031

        16.8.1. Domestic

        16.8.2. International

    16.9. Travel and Tourism Market (US$ Bn), By Traveler Type, 2017 - 2031

        16.9.1. Solo Traveler

        16.9.2. Couple Traveler

        16.9.3. Group Traveler

    16.10. Travel and Tourism Market (US$ Bn), By Travel Days, 2017 - 2031

        16.10.1. Less than 7 Days

        16.10.2. 8-15 Days

        16.10.3. 16-30 Days

        16.10.4. More than 30 Days

    16.11. Travel and Tourism Market (US$ Bn), By Travel Mode, 2017 - 2031

        16.11.1. Travel Packages

        16.11.2. Self-catered

    16.12. Travel and Tourism Market (US$ Bn), By Booking, 2017 - 2031

        16.12.1. Online

        16.12.2. Offline

    16.13. Travel and Tourism Market (US$ Bn) Forecast, By Country, 2017 - 2031

        16.13.1. GCC

        16.13.2. South Africa

        16.13.3. Rest of Middle East & Africa

    16.14. Incremental Opportunity Analysis

17. South America Travel and Tourism Market Analysis and Forecast

    17.1. Regional Snapshot

    17.2. Price Trend Analysis

        17.2.1. Weighted Average Selling Price (US$)

    17.3. Demographic Overview

    17.4. Key Brand Analysis

    17.5. Key Trends Analysis

        17.5.1. Demand Side Analysis

        17.5.2. Supply Side Analysis

    17.6. Consumer Buying Behavior Analysis

    17.7. Travel and Tourism Market (US$ Bn), By Type, 2017 - 2031

        17.7.1. Leisure

        17.7.2. Educational

        17.7.3. Business

        17.7.4. Sports

        17.7.5. Medical Tourism

        17.7.6. Others (Event Travel, Volunteer Travel, etc.)

    17.8. Travel and Tourism Market (US$ Bn), By Application, 2017 - 2031

        17.8.1. Domestic

        17.8.2. International

    17.9. Travel and Tourism Market (US$ Bn), By Traveler Type, 2017 - 2031

        17.9.1. Solo Traveler

        17.9.2. Couple Traveler

        17.9.3. Group Traveler

    17.10. Travel and Tourism Market (US$ Bn), By Travel Days, 2017 - 2031

        17.10.1. Less than 7 Days

        17.10.2. 8-15 Days

        17.10.3. 16-30 Days

        17.10.4. More than 30 Days

    17.11. Travel and Tourism Market (US$ Bn), By Travel Mode, 2017 - 2031

        17.11.1. Travel Packages

        17.11.2. Self-catered

    17.12. Travel and Tourism Market (US$ Bn), By Booking, 2017 - 2031

        17.12.1. Online

        17.12.2. Offline

    17.13. Travel and Tourism Market (US$ Bn) Forecast, By Country, 2017 - 2031

        17.13.1. Brazil

        17.13.2. Rest of South America

    17.14. Incremental Opportunity Analysis

18. Competition Landscape

    18.1. Market Player - Competition Dashboard

    18.2. Market Revenue Share Analysis (%), (2022)

    18.3. Company Profiles (Details - Company Overview, Sales Area/Geographical Presence, Revenue, Strategy & Business Overview)

        18.3.1. Accor

            18.3.1.1. Company Overview

            18.3.1.2. Sales Area/Geographical Presence

            18.3.1.3. Revenue

            18.3.1.4. Strategy & Business Overview

        18.3.2. Adris Grupa d.d.

            18.3.2.1. Company Overview

            18.3.2.2. Sales Area/Geographical Presence

            18.3.2.3. Revenue

            18.3.2.4. Strategy & Business Overview

        18.3.3. Airbnb, Inc.

            18.3.3.1. Company Overview

            18.3.3.2. Sales Area/Geographical Presence

            18.3.3.3. Revenue

            18.3.3.4. Strategy & Business Overview

        18.3.4. Balkan Holidays Ltd.

            18.3.4.1. Company Overview

            18.3.4.2. Sales Area/Geographical Presence

            18.3.4.3. Revenue

            18.3.4.4. Strategy & Business Overview

        18.3.5. Carnival Corporation & plc

            18.3.5.1. Company Overview

            18.3.5.2. Sales Area/Geographical Presence

            18.3.5.3. Revenue

            18.3.5.4. Strategy & Business Overview

        18.3.6. Crown Resorts Ltd.

            18.3.6.1. Company Overview

            18.3.6.2. Sales Area/Geographical Presence

            18.3.6.3. Revenue

            18.3.6.4. Strategy & Business Overview

        18.3.7. G Adventures

            18.3.7.1. Company Overview

            18.3.7.2. Sales Area/Geographical Presence

            18.3.7.3. Revenue

            18.3.7.4. Strategy & Business Overview

        18.3.8. Hilton Worldwide Holdings Inc.

            18.3.8.1. Company Overview

            18.3.8.2. Sales Area/Geographical Presence

            18.3.8.3. Revenue

            18.3.8.4. Strategy & Business Overview

        18.3.9. TUI Group

            18.3.9.1. Company Overview

            18.3.9.2. Sales Area/Geographical Presence

            18.3.9.3. Revenue

            18.3.9.4. Strategy & Business Overview

        18.3.10. Travel Leaders Group, LLC

            18.3.10.1. Company Overview

            18.3.10.2. Sales Area/Geographical Presence

            18.3.10.3. Revenue

            18.3.10.4. Strategy & Business Overview

        18.3.11. Insight Vacations

            18.3.11.1. Company Overview

            18.3.11.2. Sales Area/Geographical Presence

            18.3.11.3. Revenue

            18.3.11.4. Strategy & Business Overview

        18.3.12. Frosch International Travel, Inc.

            18.3.12.1. Company Overview

            18.3.12.2. Sales Area/Geographical Presence

            18.3.12.3. Revenue

            18.3.12.4. Strategy & Business Overview

        18.3.13. Other Key Players

            18.3.13.1. Company Overview

            18.3.13.2. Sales Area/Geographical Presence

            18.3.13.3. Revenue

            18.3.13.4. Strategy & Business Overview

19. Go To Market Strategy

    19.1. Identification of Potential Market Spaces

    19.2. Understanding Procurement Process of Customers

    19.3. Preferred Sales & Marketing Strategy

    19.4. Prevailing Market Risks

List of Tables

Table 1: Global Travel and Tourism Market Value (US$ Bn) Projection By Type 2017-2031

Table 2: Global Travel and Tourism Market Value (US$ Bn) Projection By Application 2017-2031

Table 3: Global Travel and Tourism Market Value (US$ Bn) Projection By Traveler Type 2017-2031

Table 4: Global Travel and Tourism Market Value (US$ Bn) Projection By Travel Days 2017-2031

Table 5: Global Travel and Tourism Market Value (US$ Bn) Projection By Travel Mode 2017-2031

Table 6: Global Travel and Tourism Market Value (US$ Bn) Projection By Booking 2017-2031

Table 7: Global Travel and Tourism Market Value (US$ Bn) Projection By Region 2017-2031

Table 8: North America Travel and Tourism Market Value (US$ Bn) Projection By Type 2017-2031

Table 9: North America Travel and Tourism Market Value (US$ Bn) Projection By Application 2017-2031

Table 10: North America Travel and Tourism Market Value (US$ Bn) Projection By Traveler Type 2017-2031

Table 11: North America Travel and Tourism Market Value (US$ Bn) Projection By Travel Days 2017-2031

Table 12: North America Travel and Tourism Market Value (US$ Bn) Projection By Travel Mode 2017-2031

Table 13: North America Travel and Tourism Market Value (US$ Bn) Projection By Booking 2017-2031

Table 14: North America Travel and Tourism Market Value (US$ Bn) Projection By Country 2017-2031

Table 15: Europe Travel and Tourism Market Value (US$ Bn) Projection By Type 2017-2031

Table 16: Europe Travel and Tourism Market Value (US$ Bn) Projection By Application 2017-2031

Table 17: Europe Travel and Tourism Market Value (US$ Bn) Projection By Traveler Type 2017-2031

Table 18: Europe Travel and Tourism Market Value (US$ Bn) Projection By Travel Days 2017-2031

Table 19: Europe Travel and Tourism Market Value (US$ Bn) Projection By Travel Mode 2017-2031

Table 20: Europe Travel and Tourism Market Value (US$ Bn) Projection By Booking 2017-2031

Table 21: Europe Travel and Tourism Market Value (US$ Bn) Projection By Country 2017-2031

Table 22: Asia Pacific Travel and Tourism Market Value (US$ Bn) Projection By Type 2017-2031

Table 23: Asia Pacific Travel and Tourism Market Value (US$ Bn) Projection By Application 2017-2031

Table 24: Asia Pacific Travel and Tourism Market Value (US$ Bn) Projection By Traveler Type 2017-2031

Table 25: Asia Pacific Travel and Tourism Market Value (US$ Bn) Projection By Travel Days 2017-2031

Table 26: Asia Pacific Travel and Tourism Market Value (US$ Bn) Projection By Travel Mode 2017-2031

Table 27: Asia Pacific Travel and Tourism Market Value (US$ Bn) Projection By Booking 2017-2031

Table 28: Asia Pacific Travel and Tourism Market Value (US$ Bn) Projection By Country 2017-2031

Table 29: Middle East & Africa Travel and Tourism Market Value (US$ Bn) Projection By Type 2017-2031

Table 30: Middle East & Africa Travel and Tourism Market Value (US$ Bn) Projection By Application 2017-2031

Table 31: Middle East & Africa Travel and Tourism Market Value (US$ Bn) Projection By Traveler Type 2017-2031

Table 32: Middle East & Africa Travel and Tourism Market Value (US$ Bn) Projection By Travel Days 2017-2031

Table 33: Middle East & Africa Travel and Tourism Market Value (US$ Bn) Projection By Travel Mode 2017-2031

Table 34: Middle East & Africa Travel and Tourism Market Value (US$ Bn) Projection By Booking 2017-2031

Table 35: Middle East & Africa Travel and Tourism Market Value (US$ Bn) Projection By Country 2017-2031

Table 36: South America Travel and Tourism Market Value (US$ Bn) Projection By Type 2017-2031

Table 37: South America Travel and Tourism Market Value (US$ Bn) Projection By Application 2017-2031

Table 38: South America Travel and Tourism Market Value (US$ Bn) Projection By Traveler Type 2017-2031

Table 39: South America Travel and Tourism Market Value (US$ Bn) Projection By Travel Days 2017-2031

Table 40: South America Travel and Tourism Market Value (US$ Bn) Projection By Travel Mode 2017-2031

Table 41: South America Travel and Tourism Market Value (US$ Bn) Projection By Booking 2017-2031

Table 42: South America Travel and Tourism Market Value (US$ Bn) Projection By Country 2017-2031

List of Figures

Figure 1: Global Travel and Tourism Market Value (US$ Bn) Projection, By Type 2017-2031

Figure 2: Global Travel and Tourism Market, Incremental Opportunities (US$ Bn), Forecast, By Type 2023-2031

Figure 3: Global Travel and Tourism Market Value (US$ Bn) Projection, By Application 2017-2031

Figure 4: Global Travel and Tourism Market, Incremental Opportunities (US$ Bn), Forecast, By Application 2023-2031

Figure 5: Global Travel and Tourism Market Value (US$ Bn) Projection, By Traveler Type 2017-2031

Figure 6: Global Travel and Tourism Market, Incremental Opportunities (US$ Bn), Forecast, By Traveler Type 2023-2031

Figure 7: Global Travel and Tourism Market Value (US$ Bn) Projection, By Travel Days 2017-2031

Figure 8: Global Travel and Tourism Market, Incremental Opportunities (US$ Bn), Forecast, By Travel Days 2023-2031

Figure 9: Global Travel and Tourism Market Value (US$ Bn) Projection, By Travel Mode 2017-2031

Figure 10: Global Travel and Tourism Market, Incremental Opportunities (US$ Bn), Forecast, By Travel Mode 2023-2031

Figure 11: Global Travel and Tourism Market Value (US$ Bn) Projection, By Booking 2017-2031

Figure 12: Global Travel and Tourism Market, Incremental Opportunities (US$ Bn), Forecast, By Booking 2023-2031

Figure 13: Global Travel and Tourism Market Value (US$ Bn) Projection, By Region 2017-2031

Figure 14: Global Travel and Tourism Market, Incremental Opportunities (US$ Bn), Forecast, By Region 2023-2031

Figure 15: North America Travel and Tourism Market Value (US$ Bn) Projection, By Type 2017-2031

Figure 16: North America Travel and Tourism Market, Incremental Opportunities (US$ Bn), Forecast, By Type 2023-2031

Figure 17: North America Travel and Tourism Market Value (US$ Bn) Projection, By Application 2017-2031

Figure 18: North America Travel and Tourism Market, Incremental Opportunities (US$ Bn), Forecast, By Application 2023-2031

Figure 19: North America Travel and Tourism Market Value (US$ Bn) Projection, By Traveler Type 2017-2031

Figure 20: North America Travel and Tourism Market, Incremental Opportunities (US$ Bn), Forecast, By Traveler Type 2023-2031

Figure 21: North America Travel and Tourism Market Value (US$ Bn) Projection, By Travel Days 2017-2031

Figure 22: North America Travel and Tourism Market, Incremental Opportunities (US$ Bn), Forecast, By Travel Days 2023-2031

Figure 23: North America Travel and Tourism Market Value (US$ Bn) Projection, By Travel Mode 2017-2031

Figure 24: North America Travel and Tourism Market, Incremental Opportunities (US$ Bn), Forecast, By Travel Mode 2023-2031

Figure 25: North America Travel and Tourism Market Value (US$ Bn) Projection, By Booking 2017-2031

Figure 26: North America Travel and Tourism Market, Incremental Opportunities (US$ Bn), Forecast, By Booking 2023-2031

Figure 27: North America Travel and Tourism Market Value (US$ Bn) Projection, By Country 2017-2031

Figure 28: North America Travel and Tourism Market, Incremental Opportunities (US$ Bn), Forecast, By Country 2023-2031

Figure 29: Europe Travel and Tourism Market Value (US$ Bn) Projection, By Type 2017-2031

Figure 30: Europe Travel and Tourism Market, Incremental Opportunities (US$ Bn), Forecast, By Type 2023-2031

Figure 31: Europe Travel and Tourism Market Value (US$ Bn) Projection, By Application 2017-2031

Figure 32: Europe Travel and Tourism Market, Incremental Opportunities (US$ Bn), Forecast, By Application 2023-2031

Figure 33: Europe Travel and Tourism Market Value (US$ Bn) Projection, By Traveler Type 2017-2031

Figure 34: Europe Travel and Tourism Market, Incremental Opportunities (US$ Bn), Forecast, By Traveler Type 2023-2031

Figure 35: Europe Travel and Tourism Market Value (US$ Bn) Projection, By Travel Days 2017-2031

Figure 36: Europe Travel and Tourism Market, Incremental Opportunities (US$ Bn), Forecast, By Travel Days 2023-2031

Figure 37: Europe Travel and Tourism Market Value (US$ Bn) Projection, By Travel Mode 2017-2031

Figure 38: Europe Travel and Tourism Market, Incremental Opportunities (US$ Bn), Forecast, By Travel Mode 2023-2031

Figure 39: Europe Travel and Tourism Market Value (US$ Bn) Projection, By Booking 2017-2031

Figure 40: Europe Travel and Tourism Market, Incremental Opportunities (US$ Bn), Forecast, By Booking 2023-2031

Figure 41: Europe Travel and Tourism Market Value (US$ Bn) Projection, By Country 2017-2031

Figure 42: Europe Travel and Tourism Market, Incremental Opportunities (US$ Bn), Forecast, By Country 2023-2031

Figure 43: Asia Pacific Travel and Tourism Market Value (US$ Bn) Projection, By Type 2017-2031

Figure 44: Asia Pacific Travel and Tourism Market, Incremental Opportunities (US$ Bn), Forecast, By Type 2023-2031

Figure 45: Asia Pacific Travel and Tourism Market Value (US$ Bn) Projection, By Application 2017-2031

Figure 46: Asia Pacific Travel and Tourism Market, Incremental Opportunities (US$ Bn), Forecast, By Application 2023-2031

Figure 47: Asia Pacific Travel and Tourism Market Value (US$ Bn) Projection, By Traveler Type 2017-2031

Figure 48: Asia Pacific Travel and Tourism Market, Incremental Opportunities (US$ Bn), Forecast, By Traveler Type 2023-2031

Figure 49: Asia Pacific Travel and Tourism Market Value (US$ Bn) Projection, By Travel Days 2017-2031

Figure 50: Asia Pacific Travel and Tourism Market, Incremental Opportunities (US$ Bn), Forecast, By Travel Days 2023-2031

Figure 51: Asia Pacific Travel and Tourism Market Value (US$ Bn) Projection, By Travel Mode 2017-2031

Figure 52: Asia Pacific Travel and Tourism Market, Incremental Opportunities (US$ Bn), Forecast, By Travel Mode 2023-2031

Figure 53: Asia Pacific Travel and Tourism Market Value (US$ Bn) Projection, By Booking 2017-2031

Figure 54: Asia Pacific Travel and Tourism Market, Incremental Opportunities (US$ Bn), Forecast, By Booking 2023-2031

Figure 55: Asia Pacific Travel and Tourism Market Value (US$ Bn) Projection, By Country 2017-2031

Figure 56: Asia Pacific Travel and Tourism Market, Incremental Opportunities (US$ Bn), Forecast, By Country 2023-2031

Figure 57: Middle East & Africa Travel and Tourism Market Value (US$ Bn) Projection, By Type 2017-2031

Figure 58: Middle East & Africa Travel and Tourism Market, Incremental Opportunities (US$ Bn), Forecast, By Type 2023-2031

Figure 59: Middle East & Africa Travel and Tourism Market Value (US$ Bn) Projection, By Application 2017-2031

Figure 60: Middle East & Africa Travel and Tourism Market, Incremental Opportunities (US$ Bn), Forecast, By Application 2023-2031

Figure 61: Middle East & Africa Travel and Tourism Market Value (US$ Bn) Projection, By Traveler Type 2017-2031

Figure 62: Middle East & Africa Travel and Tourism Market, Incremental Opportunities (US$ Bn), Forecast, By Traveler Type 2023-2031

Figure 63: Middle East & Africa Travel and Tourism Market Value (US$ Bn) Projection, By Travel Days 2017-2031

Figure 64: Middle East & Africa Travel and Tourism Market, Incremental Opportunities (US$ Bn), Forecast, By Travel Days 2023-2031

Figure 65: Middle East & Africa Travel and Tourism Market Value (US$ Bn) Projection, By Travel Mode 2017-2031

Figure 66: Middle East & Africa Travel and Tourism Market, Incremental Opportunities (US$ Bn), Forecast, By Travel Mode 2023-2031

Figure 67: Middle East & Africa Travel and Tourism Market Value (US$ Bn) Projection, By Booking 2017-2031

Figure 68: Middle East & Africa Travel and Tourism Market, Incremental Opportunities (US$ Bn), Forecast, By Booking 2023-2031

Figure 69: Middle East & Africa Travel and Tourism Market Value (US$ Bn) Projection, By Country 2017-2031

Figure 70: Middle East & Africa Travel and Tourism Market, Incremental Opportunities (US$ Bn), Forecast, By Country 2023-2031

Figure 71: South America Travel and Tourism Market Value (US$ Bn) Projection, By Type 2017-2031

Figure 72: South America Travel and Tourism Market, Incremental Opportunities (US$ Bn), Forecast, By Type 2023-2031

Figure 73: South America Travel and Tourism Market Value (US$ Bn) Projection, By Application 2017-2031

Figure 74: South America Travel and Tourism Market, Incremental Opportunities (US$ Bn), Forecast, By Application 2023-2031

Figure 75: South America Travel and Tourism Market Value (US$ Bn) Projection, By Traveler Type 2017-2031

Figure 76: South America Travel and Tourism Market, Incremental Opportunities (US$ Bn), Forecast, By Traveler Type 2023-2031

Figure 77: South America Travel and Tourism Market Value (US$ Bn) Projection, By Travel Days 2017-2031

Figure 78: South America Travel and Tourism Market, Incremental Opportunities (US$ Bn), Forecast, By Travel Days 2023-2031

Figure 79: South America Travel and Tourism Market Value (US$ Bn) Projection, By Travel Mode 2017-2031

Figure 80: South America Travel and Tourism Market, Incremental Opportunities (US$ Bn), Forecast, By Travel Mode 2023-2031

Figure 81: South America Travel and Tourism Market Value (US$ Bn) Projection, By Booking 2017-2031

Figure 82: South America Travel and Tourism Market, Incremental Opportunities (US$ Bn), Forecast, By Booking 2023-2031

Figure 83: South America Travel and Tourism Market Value (US$ Bn) Projection, By Country 2017-2031

Figure 84: South America Travel and Tourism Market, Incremental Opportunities (US$ Bn), Forecast, By Country 2023-2031

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The UN Tourism Data Dashboard – provides statistics and insights on key indicators for inbound and outbound tourism at the global, regional and national levels. Data covers tourist arrivals, tourism share of exports and contribution to GDP, source markets, seasonality, and accommodation (data on number of rooms, guest, and nights). It also features a Tourism Recovery Tracker and a Policy tracker as part of UN Tourism´s COVID-19 response.

The UN Tourism World Tourism Barom eter monitors short-term tourism trends on a regular basis to provide global tourism stakeholders with up-to-date analysis on international tourism.

Impact assessment

It is early to assess the impact of the Russian Federation’s military offensive in Ukraine, though it represents a major downside risk for international tourism that could delay the sector’s already weak and uneven recovery .

Market Intelligence Reports

UN Tourism publishes a number of market intelligence reports every year, covering trends analysis, products, segments and markets. Information on the contents of these publications is provided here.

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Impact of COVID-19 on tourism

The COVID-19 pandemic has caused an unprecedented impact on tourism, with a sharp decline in international arrivals of 73% in 2020 and 71% in 2021. 

• Tourism Market
• Hospitality & Tourism

Tourism Market Size, Share, and Growth, Analysis Research Report – Segmented By Type (International Tourism and Domestic/Local Tourism), Purpose (Adventure Tourism, Business Travel, Conference or Seminar Travel, Family and Friend Visits and Others), and Region - Industry Forecast of 2024 to 2029.

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• Description

Tourism Market Size (2024 - 2029):

The Global  Tourism Market  was worth US$ 11.03 trillion in 2023 and is anticipated to reach a valuation of US$ 14.77 trillion by 2029 and it is predicted to register a CAGR of 5% during the forecast period 2024-2029.

Market Overview:

Worldwide tourism has performed well over the five-year period, and economies in emerging markets continue to stimulate expansion.   In addition, countries in Asia and South America have seen a strong expansion in per capita income, which has allowed consumers in these regions to travel abroad in escalating numbers. However, due to the worldwide spread of COVID-19 (coronavirus) in 2020, industry revenue is predicted to decline by 8.9%. The worldwide pandemic is supposed to have a huge effect on all tourism-related industries, as many countries suspend international travel and limit the number of domestic flights.

Tourism is defined as the fact that international visitors who cross borders travel mainly for business, conferences, government affairs, and for leisure, vacations or to visit local people, friends, and family. The main industries that benefit from tourism spending include national and international air transport, accommodation services, food services, beverages, car rental, and travel agencies.

Market Trends:

Government agencies and organizations such as the World Tourism Organization, and UNWTO, promote tourism to attract diverse tourists from around the world. These initiatives are leading to the expansion of the world tourism market. Adventure tourism is a new concept in the tourism market that drives the entire industry. Also, medical tourism is also a new concept that is gaining ground around the world. The significant difference in prices for medical procedures between different countries is driving the trend in the medical tourism sector. Another determining factor for the global tourism market is the surge in international sporting and recreational events.

Market Drivers:

The increase in per capita income stimulates the expansion of the global tourism market, which translates into a continuous expansion of international tourism. For the past five years, the tourism market in emerging economies, particularly countries in South America and Asia, has been the driving force behind the worldwide industry. Compared to ten years ago, the world tourism market has undergone many changes. Emerging economies now represent more market share than developed economies. In recent years, the adventure tourism industry has grown exponentially worldwide. Also, travelers are interested in visiting unknown destinations for fun. Besides, a significant increase in government initiatives in the form of public and private partnerships to promote tourism is driving the expansion of the worldwide adventure travel market. The comfort factor associated with the application and implementation of the e-tourism market has been an important factor for this market. Access to the complete travel package as well as strategic access to know all the relevant information related to the place has helped customers opt for electronic means to make their travel plans.

Market Restraints:

The risk of unpredictable weather conditions limits the expansion of the global tourism market.

Market Opportunities:

The development of new trends like adventure tourism, medical tourism, etc., are likely to promote the expansion in call of the global tourism market. Adventure tourism includes some activities such as rock climbing, hiking, caving, rafting, and others. Tourism is one of the sectors with the highest exponential expansion, among which adventure tourism is one of the fastest growing. According to a study of the travel market, Europe and America are the two main regions of this market. Furthermore, the introduction of artificial intelligence plays a vital role in the operation and exploitation of adventure tourism. The growing trend of social media is also estimated to offer a promising opportunity for this market expansion.

TOURISM MARKET REPORT COVERAGE:

Market Segmentation:

Tourism Market -  By Type:

• International Tourism
• Domestic/Local Tourism

Tourism Market -  By Purpose:

• Adventure Tourism
• Business Travel
• Conference or Seminar Travel
• Family and Friend Visits

Tourism service companies offer various products and services to their clients. Thus, the industry products included in the worldwide tourism industry are accommodation for travelers, travel organizations and reservations, air transport, other local transport such as car rental, food and drink establishments, recreation and entertainment, gasoline, and other activities. In addition, industrial activities considered in the worldwide tourism market include accommodation services for travelers, provision of hospitality services to international tourists, airline operation, motor vehicle leasing, travel agencies, and travel organization services.

Market Regional Analysis:

The  Tourism Market Report includes the segmentation of Regions:

• North America 
• Europe 
• Asia Pacific
• Latin America 
• Middle East & Africa 

Countries like the United States, Germany, and France are popular destinations for world tourism. But in recent years, other lesser-known countries in Asia and Africa have emerged as destinations of interest to international travellers. Therefore, tourism service providers are reorienting their services to take advantage of the economic benefits of this trend. Thailand was the most popular destination for medical tourism in 2019. The expansion of the market was due to Thailand's status as one of the most popular tourist destinations in Asia. The escalating number of private hospitals, improvements in health infrastructure in general, and cheaper treatment costs are responsible for the expansion of medical tourists arriving in Thailand. Thailand has more than 450 private hospitals and that number is likely to grow exponentially.

Medical tourism generates substantial income in developing economies, helping them to further develop their health activities. This has resulted in escalated participation and promotion of medical tourism by government authorities. For example, in Thailand, the government is targeting potential new markets such as China, Laos, Myanmar, Cambodia, and Vietnam to benefit from the growing wealth and growing call for professional healthcare services in these countries. In February 2018, the government announced the prerequisites for the issuance of smart visas for professionals or entrepreneurs interested in investing in new businesses, which will help international medical tourism providers expand their business in Thailand with incentives such as granting a visa period of 4 years.

Impact of COVID-19 on the Tourism Market:

The novel coronavirus, which is one of its types of humanitarian disasters, has affected people and businesses around the world, triggering a worldwide economic crisis. In this sense, the tourism sector is no exception.  COVID-19 has given almost a death blow to the tourism industry around the world. The strict lockdown conditions and shutdown of transport modes have resulted in declining revenue in this industry. However, with the relaxation of lockdown conditions, the business is supposed to resume in 2021.

Market Key Players:

The Tourism Market has a low level of concentration as there are large numbers of international and local players in the tourism market. The market for global tourism is highly fragmented.

• Aban Offshore Ltd.
• Accor Group
• Balkan Holidays Ltd.
• Fred Harvey Company
• G Adventures

Market Recent Developments:

Mumbai-based Gem Tours & Travel has declared a coronavirus vaccination tour package for High Network Individual consumers who wish to travel to the United States for the shooting.

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Frequently Asked Questions

1. What is the Tourism Market growth rate during the projection period? +

The Global Tourism Market is expected to grow with a CAGR of 5% between 2024-2029.

2. What can be the total Tourism Market value? +

The Global Tourism Market size is expected to reach a revised size of US$ 14.77 trillion by 2029.

3. Name any three Tourism Market key players? +

Accor Group, Crown Ltd., and Balkan Holidays Ltd. are the three tourism market key players.

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Global Tourism Market 2024–2033

Tourism market size, trends and insights by travel purpose (leisure tourism, business tourism, medical tourism, cultural & heritage tourism, others), by travel type (solo, group), by geographic (domestic tourism, international tourism), by mode of booking (ota platform, direct booking), by age group (below 30 years, 30 to 41 years, 42 to 49 years, 50 years & above), and by region - global industry overview, statistical data, competitive analysis, share, outlook, and forecast 2024–2033.

Report Code: CMI37676

Published Date: January 2024

Pages: 320+

Category: Hospitality & Tourism

• Product Description

Table of Contents

• Methodology
• Key Players

Report Snapshot

Source: CMI

Major Players

• Expedia Group Inc.
• Booking Holdings Inc.
• Airbnb Inc.
• com Group Limited
• com International Ltd.

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Reports Description

As per the current market research conducted by the CMI Team, the global Tourism Market is expected to record a CAGR of 3.7% from 2023 to 2032. In 2023, the market size is projected to reach a valuation of USD 8,879.2 Billion . By 2032, the valuation is anticipated to reach USD 12,313.5 Billion .

The tourism market encompasses the global industry facilitating travel for leisure, business, and other purposes. It includes a diverse range of services, from transportation and accommodation to attractions, tour operations, and travel agencies.

Key players such as Expedia, Airbnb, and hotel chains influence the market, while trends like sustainable travel, digital transformation, and local experiences shape its trajectory. The market is sensitive to economic conditions, geopolitical events, and health crises.

As a dynamic sector, it continuously evolves, driven by consumer preferences, technological advancements, and environmental considerations, playing a vital role in global economies and cultural exchange.

Tourism Market – Significant Growth Factors

The Tourism Market presents significant growth opportunities due to several factors:

• Digital Transformation : The integration of advanced technologies, including online booking platforms, mobile apps, and virtual experiences, enhances the overall traveler experience, streamlining and personalizing the booking and travel process.
• Rising Middle-Class Travelers : The growth of the middle class, particularly in emerging markets, fuels increased tourism demand as more people can afford domestic and international travel, boosting the overall market.
• Sustainable and Experiential Tourism : The shift towards sustainable and experiential travel experiences reflects changing consumer preferences, with travelers seeking authentic, eco-friendly, and culturally immersive destinations and activities.
• Globalization and Connectivity : Improved transportation infrastructure and increased connectivity via airlines and digital platforms contribute to the globalization of tourism, making diverse destinations more accessible to a wider audience.
• Health and Wellness Tourism : The growing focus on health and wellness presents an opportunity for the tourism market. Travelers seek destinations and experiences that promote well-being, including spa retreats, wellness resorts, and nature-centric activities.
• Culinary and Food Tourism : Culinary and food tourism offers an opportunity for the tourism sector to capitalize on the rising interest in gastronomy. Travelers increasingly prioritize destinations known for unique culinary experiences, local cuisines, and food-related events, contributing to the growth of this niche market segment.

Tourism Market – Mergers and Acquisitions

The Tourism Market has seen several mergers and acquisitions in recent years, with companies seeking to expand their market presence and leverage synergies to improve their product offerings and profitability. Some notable examples of mergers and acquisitions in the Tourism Market include:

• In 2023, Lindblad Expeditions partnered with FOOD & WINE magazine for an immersive eight-day journey along the Columbia and Snake Rivers in the Pacific Northwest. The expedition focused on exploring the area’s rich historical, agricultural, and natural features, offering guests a unique experience to savor local cuisine and wines.
• In 2022, Intrepid Travel introduced its latest adventure tour packages in the U.S., integrating outdoor athletic activities like cycling and walking with curated itineraries emphasizing sightseeing and cuisine. The new offerings cater to travelers seeking an active and immersive experience, blending adventure with cultural exploration.

These mergers and acquisitions have helped companies expand their product offerings, improve their market presence, and capitalize on growth opportunities in the Tourism Market. The trend is expected to continue as companies seek to gain a competitive edge in the market.

COMPARATIVE ANALYSIS OF THE RELATED MARKET

Tourism Market – Significant Threats

The Tourism Market faces several significant threats that could impact its growth and profitability in the future. Some of these threats include:

• Pandemics and Health Crises : Global health crises, such as pandemics, pose a significant threat to the tourism market, leading to travel restrictions, lockdowns, and a decline in consumer confidence, adversely impacting the entire industry.
• Geopolitical Instability : Political unrest, conflicts, and geopolitical tensions can disrupt travel plans and deter tourists from visiting certain regions, affecting the overall stability and attractiveness of those destinations.
• Natural Disasters : Natural disasters, including hurricanes, earthquakes, and tsunamis, pose a threat to tourism-dependent areas, causing infrastructure damage, disruptions to services, and a decline in visitor numbers.
• Terrorism and Security Concerns : Security threats and terrorist activities can lead to increased safety concerns among travelers, resulting in decreased tourism in affected regions due to fear of potential risks.
• Environmental Degradation and Climate Change : Environmental issues, such as climate change and ecological degradation, pose threats to tourism. Destinations impacted by extreme weather events, loss of biodiversity, or environmental deterioration may experience a decline in visitor numbers and attractiveness.

Report Scope

Category-Wise Insights

By Travel Purpose

• Leisure Tourism: Leisure tourism involves travel for relaxation and recreation. Trends include a rise in experiential travel, eco-friendly options, a preference for unique destinations, and a growing focus on health and wellness, reflecting a shift towards authentic and sustainable travel experiences.
• Business Tourism: Business tourism focuses on travel for conferences, meetings, and events. Trends encompass virtual and hybrid events, technological integration for seamless planning, an emphasis on sustainable business practices, and the adoption of flexible meeting formats in response to changing work environments.
• Medical Tourism: Medical tourism involves travel for healthcare services. Trends include the globalization of healthcare, increased emphasis on wellness tourism, the integration of telemedicine for remote consultations, and the growing popularity of preventive and elective medical procedures among international travelers.
• Cultural & Heritage Tourism: Cultural and heritage tourism centers around exploring historical sites and experiencing local traditions. Trends include immersive cultural experiences, heritage conservation efforts, digital platforms offering virtual heritage tours, and a focus on responsible tourism to protect cultural and historical assets.
• Others: The “others” category encompasses diverse travel purposes. Trends may include adventure tourism’s rise, nature-based and wildlife tourism, as well as niche markets like food and wine tourism. Emerging trends reflect evolving traveler interests, such as dark tourism and voluntourism, adding depth and variety to the tourism market.

By Travel Type

• Solo Travel: Solo travel involves individuals exploring destinations independently. Trends include a rise in solo female travel, a focus on self-discovery and personal growth, and technology-driven tools for solo travelers, promoting safety and facilitating seamless experiences for those venturing alone.
• Group Travel: Group travel involves organized trips with multiple participants. Trends encompass the growth of group tours catering to specific interests, such as adventure or culinary experiences, the rise of multigenerational group travel, and increased use of technology for group coordination and communication during trips.

Global Tourism Market 2023–2032 (By Billion)

By Geographic

• Domestic Tourism: Domestic tourism involves travel within one’s own country. Trends include a surge in domestic travel post-pandemic, a preference for local and rural destinations, and increased interest in outdoor and nature-based activities, reflecting a desire for familiarity and exploration of nearby attractions.
• International Tourism: International tourism involves travel between countries. Trends include the rebound of international travel post-pandemic, a focus on sustainable and responsible tourism, the rise of experiential and cultural exploration, and advancements in technology facilitating seamless cross-border travel experiences.

By Mode of Booking

• OTA Platform: Online Travel Agency (OTA) platforms facilitate travel bookings through digital platforms. Trends include the dominance of major OTAs, personalized recommendations, and the integration of artificial intelligence for tailored travel experiences, providing users with a comprehensive and convenient one-stop solution for their travel needs.
• Direct Booking: Direct booking involves travelers making reservations directly with hotels, airlines, or other service providers without intermediaries. Trends include loyalty programs, exclusive discounts, and personalized marketing strategies, empowering businesses to build direct relationships with customers and enhance the overall booking experience.

By Age Group

• Below 30 Years: Travelers below 30 seek adventurous, budget-friendly experiences. Trends include social media influence, sustainable travel choices, and a preference for experiential over materialistic travel, shaping a dynamic and socially conscious segment in the tourism market.
• 30 to 41 Years: The 30 to 41 age group comprises professionals seeking a balance between work and travel. Trends include leisure travel, digital nomadism, and a preference for customized and personalized travel experiences, reflecting a blend of work, leisure, and exploration.
• 42 to 49 Years: Travelers aged 42 to 49 typically prioritize family-oriented and culturally rich experiences. Trends include multigenerational travel, educational trips for families, and a focus on slow travel, encouraging a deeper immersion into local cultures and heritage.
• 50 Years & Above: Travelers aged 50 and above often pursue leisurely and comfort-focused travel. Trends include luxury travel experiences, wellness and health-focused retreats, and an increasing interest in educational and volunteer-based tourism, reflecting a diverse and discerning segment in the market.

Global Tourism Market 2023–2032 (By Travel Type)

Tourism Market – Regional Analysis

The Tourism Market is segmented into various regions, including North America, Europe, Asia-Pacific, and LAMEA. Here is a brief overview of each region:

• North America : North America sees a rise in experiential travel, with an emphasis on outdoor adventures and sustainable tourism. The region embraces technology for contactless travel experiences and explores wellness tourism, reflecting a growing interest in health-conscious travel choices.
• Europe : Europe emphasizes cultural and historical exploration, promoting heritage tourism and preservation efforts. Sustainable travel gains traction, with eco-friendly accommodations and responsible tourism practices. Virtual reality and augmented reality technologies enhance the visitor experience at historical sites.
• Asia-Pacific : Asia-Pacific experiences a surge in domestic tourism, with a focus on local and regional exploration. The region embraces technological innovations like AI-driven travel apps and smart tourism initiatives. Wellness and medical tourism have gained popularity, attracting international visitors seeking holistic health experiences.
• LAMEA (Latin America, Middle East, and Africa) : LAMEA showcases a rise in adventure and nature-based tourism, leveraging the region’s diverse landscapes. Cultural festivals and events attract travelers, while luxury travel experiences gain momentum. The region emphasizes sustainable tourism, with eco-lodges and conservation projects enhancing tourism offerings.

Global Tourism Market 2023–2032 (By Mode of Booking)

Competitive Landscape – Tourism Market

The Tourism Market is highly competitive, with a large number of manufacturers and retailers operating globally. Some of the key players in the market include:

• Marriott International Inc.
• Hilton Worldwide Holdings Inc.
• InterContinental Hotels Group PLC
• The Priceline Group Inc.
• Delta Air Lines Inc.
• American Express Global Business Travel (GBT)
• Wyndham Hotels & Resorts Inc.
• Hyatt Hotels Corporation

These companies operate in the market through various strategies such as product innovation, mergers and acquisitions, and partnerships.

New entrants like Hopper and KAYAK leverage cutting-edge technologies, AI, and machine learning for innovative travel solutions, disrupting the market with personalized services. Dominant players include Booking Holdings, Expedia Group, and Airbnb, leading with extensive global networks and user-friendly platforms.

Airbnb’s unique home-sharing model challenges traditional accommodations, while Booking Holdings and Expedia dominate online travel agencies with diverse offerings. Continuous innovation, strategic acquisitions, and emphasis on user experience position these key players as market leaders, influencing industry trends and shaping the evolving landscape of the highly competitive tourism market.

  The Tourism Market is segmented as follows:

• Leisure Tourism
• Business Tourism
• Medical Tourism
• Cultural & Heritage Tourism
• Domestic Tourism
• International Tourism
• OTA Platform
• Direct Booking
• Below 30 years
• 30 to 41 Years
• 42 to 49 Years
• 50 Years & Above

Regional Coverage:

• Rest of North America
• Netherlands
• Rest of Europe
• New Zealand
• South Korea
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• South Africa
• Rest of the Middle East & Africa
• Rest of Latin America
• 1.1 Report Description and Scope
• 1.2 Research scope
• 1.3.1 Market Research Type
• 1.3.2 Market Research Methodology
• 2.1 Global Tourism Market, (2024 – 2033) (USD Billion)
• 2.2 Global Tourism Market: snapshot
• 3.1 Tourism Market: Market Dynamics
• 3.2.1 Digital Transformation
• 3.2.2 Rising Middle-Class Travelers
• 3.2.3 Sustainable and Experiential Tourism
• 3.2.4 Globalization and Connectivity
• 3.2.5 Health and Wellness Tourism
• 3.2.6 Culinary and Food Tourism.
• 3.3 Market Restraints
• 3.4 Market Opportunities
• 3.5 Market Challenges
• 3.6 Porter’s Five Forces Analysis
• 3.7.1 Market Attractiveness Analysis By Travel Purpose
• 3.7.2 Market Attractiveness Analysis By Travel Type
• 3.7.3 Market Attractiveness Analysis By Geographic
• 3.7.4 Market Attractiveness Analysis By Mode of Booking
• 3.7.5 Market Attractiveness Analysis By Age Group
• 4.1.1 Global Tourism Market: Company Market Share, 2022
• 4.2.1 Acquisitions & mergers
• 4.2.2 New Product launches
• 4.2.3 Agreements, partnerships, collaboration, and joint ventures
• 4.2.4 Research and development and Regional expansion
• 4.3 Price trend analysis
• 5.1.1 Global Tourism Market Share, By Travel Purpose, 2022 and – 2033
• 5.2.1 Global Tourism Market by Leisure Tourism, 2024 – 2033 (USD Billion)
• 5.3.1 Global Tourism Market by Business Tourism, 2024 – 2033 (USD Billion)
• 5.4.1 Global Tourism Market by Medical Tourism, 2024 – 2033 (USD Billion)
• 5.5.1 Global Tourism Market by Cultural & Heritage Tourism, 2024 – 2033 (USD Billion)
• 5.6.1 Global Tourism Market by Others, 2024 – 2033 (USD Billion)
• 6.1.1 Global Tourism Market Share, By Travel Type, 2022 and – 2033
• 6.2.1 Global Tourism Market by Solo, 2024 – 2033 (USD Billion)
• 6.3.1 Global Tourism Market by Group, 2024 – 2033 (USD Billion)
• 7.1.1 Global Tourism Market Share, By Geographic, 2022 and – 2033
• 7.2.1 Global Tourism Market by Domestic Tourism, 2024 – 2033 (USD Billion)
• 7.3.1 Global Tourism Market by International Tourism, 2024 – 2033 (USD Billion)
• 8.1.1 Global Tourism Market Share, By Mode of Booking, 2022 and – 2033
• 8.2.1 Global Tourism Market by OTA Platform, 2024 – 2033 (USD Billion)
• 8.3.1 Global Tourism Market by Direct Booking, 2024 – 2033 (USD Billion)
• 9.1.1 Global Tourism Market Share, By Age Group, 2022 and – 2033
• 9.2.1 Global Tourism Market by Below 30 Years, 2024 – 2033 (USD Billion)
• 9.3.1 Global Tourism Market by 30 to 41 Years, 2024 – 2033 (USD Billion)
• 9.4.1 Global Tourism Market by 42 to 49 Years, 2024 – 2033 (USD Billion)
• 9.5.1 Global Tourism Market by 50 Years & Above, 2024 – 2033 (USD Billion)
• 10.1 Global Tourism’s Market Regional Overview
• 10.2 Global Tourism’s Market Share, by Region, 2022 & – 2033 (USD Billion)
• 10.3.1.1 North America Tourism’s Market, by Country, 2024 – 2033 (USD Billion)
• 10.4.1 North America Tourism’s Market, by Travel Purpose, 2024 – 2033 (USD Billion)
• 10.5.1 North America Tourism’s Market, by Travel Type, 2024 – 2033 (USD Billion)
• 10.6.1 North America Tourism’s Market, by Geographic, 2024 – 2033 (USD Billion)
• 10.7.1 North America Tourism’s Market, by Mode of Booking, 2024 – 2033 (USD Billion)
• 10.8.1 North America Tourism’s Market, by Age Group, 2024 – 2033 (USD Billion)
• 10.9.1.1 Europe Tourism’s Market, by Country, 2024 – 2033 (USD Billion)
• 10.10.1 Europe Tourism’s Market, by Travel Purpose, 2024 – 2033 (USD Billion)
• 10.11.1 Europe Tourism’s Market, by Travel Type, 2024 – 2033 (USD Billion)
• 10.12.1 Europe Tourism’s Market, by Geographic, 2024 – 2033 (USD Billion)
• 10.13.1 Europe Tourism’s Market, by Mode of Booking, 2024 – 2033 (USD Billion)
• 10.14.1 Europe Tourism’s Market, by Age Group, 2024 – 2033 (USD Billion)
• 10.15.1.1 Asia Pacific Tourism’s Market, by Country, 2024 – 2033 (USD Billion)
• 10.16.1 Asia Pacific Tourism’s Market, by Travel Purpose, 2024 – 2033 (USD Billion)
• 10.17.1 Asia Pacific Tourism’s Market, by Travel Type, 2024 – 2033 (USD Billion)
• 10.18.1 Asia Pacific Tourism’s Market, by Geographic, 2024 – 2033 (USD Billion)
• 10.19.1 Asia Pacific Tourism’s Market, by Mode of Booking, 2024 – 2033 (USD Billion)
• 10.20.1 Asia Pacific Tourism’s Market, by Age Group, 2024 – 2033 (USD Billion)
• 10.21.1.1 Latin America Tourism’s Market, by Country, 2024 – 2033 (USD Billion)
• 10.22.1 Latin America Tourism’s Market, by Travel Purpose, 2024 – 2033 (USD Billion)
• 10.23.1 Latin America Tourism’s Market, by Travel Type, 2024 – 2033 (USD Billion)
• 10.24.1 Latin America Tourism’s Market, by Geographic, 2024 – 2033 (USD Billion)
• 10.25.1 Latin America Tourism’s Market, by Mode of Booking, 2024 – 2033 (USD Billion)
• 10.26.1 Latin America Tourism’s Market, by Age Group, 2024 – 2033 (USD Billion)
• 10.27.1.1 The Middle-East and Africa Tourism’s Market, by Country, 2024 – 2033 (USD Billion)
• 10.28.1 The Middle-East and Africa Tourism’s Market, by Travel Purpose, 2024 – 2033 (USD Billion)
• 10.29.1 The Middle-East and Africa Tourism’s Market, by Travel Type, 2024 – 2033 (USD Billion)
• 10.30.1 The Middle-East and Africa Tourism’s Market, by Geographic, 2024 – 2033 (USD Billion)
• 10.31.1 The Middle-East and Africa Tourism’s Market, by Mode of Booking, 2024 – 2033 (USD Billion)
• 10.32.1 The Middle-East and Africa Tourism’s Market, by Age Group, 2024 – 2033 (USD Billion)
• 11.1.1 Overview
• 11.1.2 Financials
• 11.1.3 Product Portfolio
• 11.1.4 Business Strategy
• 11.1.5 Recent Developments
• 11.2.1 Overview
• 11.2.2 Financials
• 11.2.3 Product Portfolio
• 11.2.4 Business Strategy
• 11.2.5 Recent Developments
• 11.3.1 Overview
• 11.3.2 Financials
• 11.3.3 Product Portfolio
• 11.3.4 Business Strategy
• 11.3.5 Recent Developments
• 11.4.1 Overview
• 11.4.2 Financials
• 11.4.3 Product Portfolio
• 11.4.4 Business Strategy
• 11.4.5 Recent Developments
• 11.5.1 Overview
• 11.5.2 Financials
• 11.5.3 Product Portfolio
• 11.5.4 Business Strategy
• 11.5.5 Recent Developments
• 11.6.1 Overview
• 11.6.2 Financials
• 11.6.3 Product Portfolio
• 11.6.4 Business Strategy
• 11.6.5 Recent Developments
• 11.7.1 Overview
• 11.7.2 Financials
• 11.7.3 Product Portfolio
• 11.7.4 Business Strategy
• 11.7.5 Recent Developments
• 11.8.1 Overview
• 11.8.2 Financials
• 11.8.3 Product Portfolio
• 11.8.4 Business Strategy
• 11.8.5 Recent Developments
• 11.9.1 Overview
• 11.9.2 Financials
• 11.9.3 Product Portfolio
• 11.9.4 Business Strategy
• 11.9.5 Recent Developments
• 11.10.1 Overview
• 11.10.2 Financials
• 11.10.3 Product Portfolio
• 11.10.4 Business Strategy
• 11.10.5 Recent Developments
• 11.11.1 Overview
• 11.11.2 Financials
• 11.11.3 Product Portfolio
• 11.11.4 Business Strategy
• 11.11.5 Recent Developments
• 11.12.1 Overview
• 11.12.2 Financials
• 11.12.3 Product Portfolio
• 11.12.4 Business Strategy
• 11.12.5 Recent Developments
• 11.13.1 Overview
• 11.13.2 Financials
• 11.13.3 Product Portfolio
• 11.13.4 Business Strategy
• 11.13.5 Recent Developments
• 11.14.1 Overview
• 11.14.2 Financials
• 11.14.3 Product Portfolio
• 11.14.4 Business Strategy
• 11.14.5 Recent Developments
• 11.15.1 Overview
• 11.15.2 Financials
• 11.15.3 Product Portfolio
• 11.15.4 Business Strategy
• 11.15.5 Recent Developments
• 11.16.1 Overview
• 11.16.2 Financials
• 11.16.3 Product Portfolio
• 11.16.4 Business Strategy
• 11.16.5 Recent Developments

List Of Figures

Figures No 1 to 35

List Of Tables

Tables No 1 to 127

Report Methodology

In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:

Preliminary Data Mining

On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.

Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.

Statistical Model

Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.

Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.

Some of the variables taken into account for forecasting are as follows:

• Industry drivers and constraints, as well as their current and projected impact

• The raw material case, as well as supply-versus-price trends

• Current volume and projected volume growth through 2032

We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.

Primary Validation

This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them. Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.

Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.

All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:

• Market leaders

• Suppliers of raw materials

The following are the primary research objectives:

• To ensure the accuracy and acceptability of our data.

• Gaining an understanding of the current market and future projections.

Data Collection Matrix

Market Analysis Matrix

Prominent Player

1 . Which are the driving factors of the Tourism Market?

The key factors driving the Market are Digital Transformation, Rising Middle-Class Travelers, Sustainable and Experiential Tourism, Globalization and Connectivity, Health and Wellness Tourism And Culinary and Food Tourism.

2 . Which type led the Tourism market?

The “Leisure Tourism” category dominated the market in 2022.

3 . Who are the key players in the Tourism market?

The key players in the market are Expedia Group Inc., Booking Holdings Inc., Airbnb Inc., Trip.com Group Limited, Ctrip.com International Ltd., Marriott International Inc., Accor S.A., Hilton Worldwide Holdings Inc., InterContinental Hotels Group PLC, The Priceline Group Inc., Delta Air Lines Inc., American Express Global Business Travel (GBT), TUI Group, Wyndham Hotels & Resorts Inc., Hyatt Hotels Corporation, Others.

4 . Which region held the largest market share in the Tourism market?

“North America” had the largest share in the Tourism Market.

5 . What is the growth rate of the Tourism market?

The global market is projected to grow at a CAGR of 3.7% during the forecast period, 2023-2032.

6 . How much is the Tourism market?

The Tourism Market size was valued at USD 8,879.2 Billion in 2023.

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Travel Market by Sector, Type, and Geography - Forecast and Analysis 2023-2027

• Published: Oct 2023
• SKU: IRTNTR71431

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Travel Market Forecast 2023-2027 

The Global Travel Market size is forecast to increase by USD 3,392.95 billion   at a CAGR of 14.18% between 2022 and 2027. The Global Travel Market is experiencing significant growth driven by various factors. The rising preference for experiential travel among consumers, coupled with the expansion of the medical tourism sector, is contributing to market expansion. Additionally, government initiatives promoting tourism are fostering increased travel activities worldwide. These trends collectively underscore the dynamic landscape of the global travel industry, presenting lucrative opportunities for stakeholders across the value chain. This market research and growth report includes an in-depth analysis of market drivers, trends, and challenges during the forecast period. 

What will be the size of the Market During the Forecast Period?

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The market is experiencing robust growth, propelled by various factors. The rise in experiential travel and the flourishing medical tourism industry, supported by government tourism promotion efforts, are driving international tourist footfall. Additionally, the widespread availability of online travel agencies has revolutionized travel booking, while increasing disposable income among travelers fuels demand across transportation, hotel, and travel activity sectors. This convergence of factors underscores the dynamic expansion of the global travel and tourism industry.

Market segmentation

In the transportation segment of the market, various entities contribute to facilitating travel experiences for individuals worldwide. Airlines, tour operators, and travel agencies play integral roles in offering transportation services to both domestic and international destinations. With the advent of online booking platforms, travelers can conveniently plan and book their journeys using smartphones and other digital devices. This accessibility has fueled the growth of low-cost airlines, making leisure and business travel more affordable and accessible. The transportation segment not only caters to domestic travel needs but also supports international economic development by facilitating tourism and business travel between countries. Overall, the transportation sector remains a vital component of the market, providing essential services and contributing to global connectivity and economic growth.

The transportation segment  is estimated to witness significant growth during the forecast period. With the improvement in the global economy, there has been simultaneous growth in the airline travel industries of many countries worldwide. Increased revenue and associated taxes are generated as a result of increased passenger traffic, which, in turn, contribute to economic development.

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The transportation segment   was the largest segment and was valued at  USD 2,191.96 billion  in 2017 .  With the introduction of travel packages such as tourism packages, tourists can opt for preferred destinations and resorts after comparing their prices and offerings. In order to provide tourists with special tourist services, some tourism enterprises cooperate with resorts and privately operated helicopters.

Market Dynamics and Customer Landscape

The market is witnessing dynamic growth, fueled by international economic development and the rising trend of experiential travel. The burgeoning medical tourism industry, supported by government tourism promotion efforts, attracts a significant international tourist footfall. Online travel agencies play a pivotal role in facilitating travel arrangements, catering to the disposable income of travelers. With a focus on transportation, hotels, and diverse travel activities, the industry thrives on the seamless integration of airlines, tour operators, and travel agencies. Enabled by online booking platforms and the widespread use of smartphones, travelers enjoy diverse leisure experiences, both domestically and internationally. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Market Driver

The growing popularity of experiential travel is driving growth in the travel market. More significant and authentic experiences are increasingly sought by modern travelers that allow them to connect with local cultures, traditions, and communities. Experiential travel offers a deeper understanding of a destination's way of life and its people. Younger people prioritize experiences over material possessions, and creating memories and stories to share is something they prefer. 

Moreover, travelers are increasingly seeking off-the-beaten-path experiences to avoid the negative impacts of over-tourism. Experience travel enables travelers to make a choice about the journeys they take according to their preferences and interests. Activities like hiking , wildlife safaris, and volunteering can provide immersive and impactful experiences. Such factors are expected to drive the growth of the arket during the forecast period.

Significant Market Trends

The increasing international tourist footfall is a key trend in the travel market. In recent years, the number of inbound tourists in the world is growing rapidly, consequently driving the number of tourists and fueling the demand for travel activities. The rising number of travelers to both the international and national markets , pleasure, and sports trips is a major element in the increase in footfall of tourists. 

Moreover, as the number of international travelers grows, so does the demand for travel activities , particularly through online travel service platforms . In addition to corporate travel, there is growing demand in the tourism sector as a result of increased government initiatives aimed at promoting tourism. The growth in the number of international tourist arrivals fuels the growth in demand for travel activities and is expected to drive the growth of the global travel market during the forecast period.

Major Market Challenge

The threat of growing terrorism is a major challenge faced by the travel market. There has been a rise in terrorist activities globally, mainly since 2016. The main motive of terrorism is to create panic among people, which leads to a change in their behavior. Industry such as hotels and travel are directly affected by these terrorist attacks.

However, terrorism further leads to the rise in border clearance issues with delays and tighter inspections, making travel tiresome. In addition, the increasing demand for increased safety around oil and gas pipelines as well as the electricity transmission lines is leading to higher costs. Therefore, the increase in terrorist activities is likely to hamper the growth of the global travel market during the forecast period.

Market Customer Landscape

The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global Travel Market Customer Landscape

Who are the Major Travel Market Companies?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

American Express Global Business Travel GBT -  The company offers travel solutions such as end-to-end solutions for business travelers, including booking, expense management, and travel policy compliance.

The market analysis and report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:

• Balkan Holidays Ltd.
• BCD Travel Services BV
• Booking Holdings Inc.
• Carlson Inc.
• Corporate Travel Management Ltd.
• Expedia Group Inc.
• Fareportal Inc.
• Flight Centre Travel Group Ltd.
• JPMorgan Chase and Co.
• MakeMyTrip Ltd.
• PT Global Digital Niaga
• PT Traveloka Indonesia

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Key Regions

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APAC  is estimated to contribute 39% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The rapid economic growth in many APAC countries, such as China, India, and Japan, has led to an expanding middle class with increased disposable income. As people's financial capabilities improve, they have more resources to spend on leisure activities, including travel.

Moreover, urbanization is on the rise in the APAC region, leading to the development of more cities and metropolitan areas. As a result, business trips, conferences, and cultural exchanges can be facilitated. Initiatives such as simplification of visa procedures, the development of tourism infrastructure, and promotion efforts are also part of this. The APAC region has become a significant market for cruise tourism, with various cruise lines offering itineraries that explore coastal cities and islands. Such factors are expected to drive the growth of the global travel market during the forecast period.

Market Analyst Overview

The market encompasses various sectors, including the booming medical tourism industry, which attracts travelers seeking healthcare services abroad. Governments promote tourism through various initiatives, and online travel agencies facilitate booking with the disposable income of travelers. Airlines, tour operators, and travel agencies cater to diverse needs, with online booking options and the presence of low-cost carriers. The prevalence of smartphones has transformed the landscape, enabling convenient access to travel websites and information. Responsible and sustainable tourism practices are encouraged, and supported by technologies like augmented reality, virtual reality, and artificial intelligence. Domestically and regionally, transportation services utilize large airports, road, and rail networks, enhancing connectivity and facilitating sustainable tourism practices.

The global travel and tourism industry is significantly influenced by tourism promotion by governments, aiming to boost both domestic travel and regional travel . The emergence of low-cost airlines has made travel more accessible, aligning with responsible tourism practices and ethical and sustainable tourist practices promoted by various stakeholders. Enhanced maritime mobility complements land-based travel , while efficient communication systems ensure connectivity. Governments worldwide are increasingly focusing on sustainable tourism initiatives, encouraging responsible travel behavior and preserving natural resources. As travelers prioritize eco-friendly options, the industry adapts, offering sustainable alternatives. In this dynamic landscape, collaboration between governments , industry players, and travelers fosters a more sustainable and responsible approach to global travel.

• Segment Overview

The travel market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. 

• Transportation
• Travel activities
• Rest of Europe
• Saudi Arabia
• South Africa
• Rest of the Middle East & Africa

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What are the Key Data Covered in this Market Research and Growth Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting    between 2023 and 2027
• Precise estimation of the market in focus on the parent market
• Accurate predictions about upcoming market growth and trends and changes in consumer behavior
• Growth of the market across APAC, Europe, North America, South America, and the Middle East and Africa
• A thorough analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive market growth analysis of factors that will challenge the market trends and analysis of market companies

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Frequently Asked Questions?

How big is the travel market market , what is the travel market market growth, which segment accounted for the largest travel market market share , who are the key players in the travel market market , what are the factors driving the travel market market .

• Growing popularity of experiential travel
• Increasing international tourist footfall

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Travel and Tourism Market by Type (Leisure, Educational, Business, Sports, Medical Tourism, Others), Deployment Model (Domestic, International) and Region, Global trends and forecast from 2024 to 2030

• Published on: Jan 2024
• From: USD $3499.00
• Number Of Pages: 136
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Table of Content

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• Description
• Segmentation Analysis
• Market Dynamics
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Key Question Answered

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REPORT OUTLOOK

Scope of the report, travel and tourism market overview.

The global Travel and Tourism market is anticipated to grow from USD 658.26 Billion in 2023 to USD 1057.57 Billion by 2030, at a CAGR of 7 % during the forecast period.

The movement of people for business, pleasure, recreation, or other reasons is at the center of the dynamic and diverse travel and tourism industry. It is a sizable economic sector with a wide range of participants, such as hotels, airlines, tour operators, travel agencies, and different types of attractions. Fundamentally, the market is propelled by the yearning for novel experiences, leisure, cultural exchange, and exploration. Globalization, technology improvements, and shifting consumer tastes have all had a big impact on the travel and tourism industry recently. The way people plan, book, and enjoy their travels has changed dramatically as a result of the accessibility of online booking, the emergence of low-cost airlines, and the increasing use of smartphones.

In addition, the travel and tourism industry is extremely vulnerable to outside influences like the state of the economy, developments in world politics, and crises in public health. For instance, the COVID-19 pandemic significantly altered international travel trends, posing previously unheard-of difficulties for the sector. Notwithstanding these obstacles, the market has proven resilient and adaptive, with players looking for fresh approaches and fixes to deal with the shifting terrain. In addition to producing income and job opportunities, it also enriches people’s lives by exposing them to a variety of cultures, environments, and viewpoints. The travel and tourism industry is a dynamic force that shapes and reflects the ever-evolving goals and aspirations of a globalized society as the world continues to change.

Travel and Tourism Market Segmentation Analysis

The global Travel and Tourism market is divided into three segments type, application and region. By Type Leisure, Educational, Business, Sports, Medical Tourism, Others. Leisure holds the largest market share. The most popular kind of tourism is probably leisure travel, which is done for fun. It includes trips, holidays, and vacations where people go to unwind and have fun. Activities like entertainment, cultural exploration, and sightseeing are frequently a part of this kind of travel.

The focus of educational tourism is on travel experiences that advance knowledge and human growth. This could include study abroad options, historical tours, language immersion programs, and trips to museums and educational institutions. Traveling for work-related reasons is referred to as business tourism, sometimes known as corporate or business travel. This entails going to trade exhibitions, conferences, meetings, and other business gatherings. On a global level, business tourism is essential for promoting networking and cooperation. Travel pertaining to sporting events, competitions, and activities is the main focus of sports tourism. Traveling to major sporting events, to cheer on their favorite teams or athletes, or for leisure activities like skiing vacations, golf outings, or other sports-related excursions is a common activity for sports fans. Traveling to other locations for medical treatment is known as medical tourism.

By application it is divided as Domestic, International. Domestic hold the largest market share Travel that occurs inside one’s own nation’s borders is referred to as domestic tourism. It covers travel for pleasure, business, or any other reason as long as the visitor remains in their nation of origin. A nation’s economic development is greatly aided by domestic tourism, which funds regional establishments, landmarks, and infrastructure.

Traveling across international borders to visit a country other than one’s own is known as international tourism. This category of tourism includes travel for leisure, business, sports, education, and medical reasons, among other reasons. International travel promotes cross-national economic cooperation, global understanding, and cultural exchange. It frequently entails a more intricate set of logistics, such as meeting passport and visa requirements, exchanging currencies, and adhering to international travel laws. For those involved in the travel and tourism sector, knowing the difference between domestic and international tourism is essential because it affects policy considerations, infrastructure development, and marketing strategies. The travel and tourism industry’s overall growth and sustainability are largely dependent on these two segments.

Travel and Tourism Market Dynamics

A strong and growing economy often leads to increased disposable income, which, in turn, boosts consumer spending on travel and tourism.

Increased employment rates, growing wages, and general economic prosperity are usually the results of a robust economy. Better financial stability leads to more disposable income for individuals and households to spend on leisure activities like travel and tourism. Increased consumer confidence is a result of economic growth. People are more likely to plan leisure trips and other non-essential spending, like vacations, when they feel confident about their financial future. A more affluent class of consumers tends to emerge when economies prosper. These people probably have the money to enjoy opulent travel experiences, such as upscale lodging, exquisite dining, and private tours. A rise in business activity frequently coincides with economic growth.

Governments and private companies may decide to invest in tourist-related infrastructure, like hotels, attractions, and airports, as the economy grows. Thus, more tourists are drawn in and the entire tourism experience is improved. Jobs in a variety of industries are frequently created as a result of economic growth. In addition to giving workers more disposable income, this also gives them more free time, which increases their interest in travel and tourism. The housing market can benefit from economic growth, which raises homeowners’ equity and property values. Homeowners may feel wealthier as a result, which encourages them to spend money on tourism and travel. The way the stock market performs has an impact on people’s wealth and investment holdings.

Political unrest, terrorism, and security concerns in certain regions can discourage travel and tourism.

Events such as political turmoil or terrorist attacks may cause prospective tourists to worry about their safety. Travelers give priority to places they believe to be safe, and any danger to their personal safety may discourage them from going to a particular area. In reaction to security threats, governments and international organizations issue warnings and advisories about travel. Travelers’ and tour operators’ decisions may be influenced by these advisories, which could result in fewer tourists visiting the impacted areas. Events involving terrorism or political turmoil are frequently covered in great detail by the media. Even after the immediate threat has passed, negative news can influence public perceptions and leave a lasting impression of a place as unsafe, discouraging travelers. A general crisis of confidence in a destination’s capacity to provide a safe and enjoyable travel experience can result from security concerns.

Airports, lodging facilities, and transit networks are examples of infrastructure related to tourism that can be negatively impacted by political upheaval and terrorism. This disruption may result in logistical difficulties and reduce the convenience of travel for visitors. Businesses in the area that depend on the travel industry may suffer grave economic repercussions if tourism declines as a result of security concerns. Enterprises like lodging facilities, dining establishments, travel agencies, and memento shops might face a substantial decline in profits. Foreign investors may become discouraged from supporting tourism-related projects and businesses in the affected region if security concerns persist. The growth of the regional tourism sector may be hampered by this lack of investment.

Opportunities

With increasing awareness of environmental issues, there is a rising demand for sustainable and eco-friendly travel options.

The need for sustainable and environmentally friendly travel options has significantly increased as a result of growing public awareness of environmental issues. In addition to looking for life-changing experiences, travelers nowadays are also becoming more aware of their environmental impact. The travel and tourism industry’s dynamics have changed due to the increased awareness of environmental issues, and this has created substantial opportunities for companies that place a high priority on sustainability. One of the main facets of sustainable travel is the promotion of environmentally friendly lodging. Travelers who care about the environment are drawn more and more to hotels and resorts that implement green practices like water conservation, waste reduction, and energy-efficient systems. The legitimacy of such establishments can be improved by partnerships with environmental organizations and certifications such as LEED (Leadership in Energy and Environmental Design).

Another important area of focus for sustainable travel is transportation. Businesses that promote carbon offset programs and provide eco-friendly transportation options, like electric or hybrid cars, are well-liked by environmentally conscious travelers. Furthermore, the popularity of electric bikes, scooters, and walking tours promotes a low-impact and more sustainable way to explore new places. In order to travel sustainably, responsible tourism practices must be promoted. Companies and local communities can work together to guarantee that the benefits of tourism are shared fairly and that natural and cultural resources are preserved. Sustainable tourism development is aided by programs that teach tourists about responsible travel habits, such as minimizing waste and honoring local customs. Leave No Trace guidelines can help adventure tourism, a market that frequently draws eco-aware tourists, adopt sustainable practices.

Travel and Tourism Market Trends

A major digital transformation has been taking place in the travel and tourism sector. Consumer trip planning, research, and booking is still greatly influenced by mobile apps, travel websites, and online travel agencies.

Instead of just doing traditional sightseeing, more and more travelers are looking for genuine, one-of-a-kind experiences. Experience travel has become more popular as a result, with people searching for trips that let them fully immerse themselves in the customs, food, and way of life of the destination.

The effects of travel on the environment and society are becoming more widely recognized. Consequently, there’s a growing need for ethical and sustainable tourist practices.

The travel and tourism sector is using technology more and more, including augmented reality, virtual reality, and artificial intelligence. From contactless check-ins and digital payment methods to virtual tours and AI-powered travel suggestions, these technologies improve the whole travel experience.

The COVID-19 pandemic has had a major impact on how people travel. Concerns for one’s health and safety are now paramount when traveling. This includes more latitude in booking and cancellation policies, touchless technology, and strict hygiene protocols in lodgings.

Travel preferences have shifted in favor of domestic and regional travel as a result of the pandemic. Discovering locations nearer to their homes allows travelers to avoid the uncertainty that comes with travel restrictions to other countries and seek familiarity.

The competitive landscape of the Travel and Tourism market was dynamic, with several prominent companies competing to provide innovative and advanced Travel and Tourism solutions.

• Expedia Group
• Booking Holdings
• Marriott International
• Hilton Worldwide Holdings
• TripAdvisor
• Ctrip (now Trip.com Group)
• American Express Global Business Travel
• Delta Air Lines
• Southwest Airlines
• The Walt Disney Company
• InterContinental Hotels Group (IHG)
• AccorHotels
• Hyatt Hotels Corporation
• Carnival Corporation & plc
• Emirates Group
• United Airlines Holdings
• Royal Caribbean Group

Recent Developments:

December 22, 2023: Uber wass thrilled to announce an exclusive collaboration with the Indian Coast Guard, solidifying our position as its preferred mobility partner for official travel and daily commute. This partnership aims to revolutionize maritime mobility by providing efficient, dependable, and secure transportation services for Indian Coast Guard officers, staff, and their families nationwide. The Indian Coast Guard is seamlessly integrating Uber’s ride-sharing technology through Uber for Business. This integration aims to effortlessly incorporate Uber’s innovative solutions into the daily operations of the Indian Coast Guard, underscoring its commitment to adopting modern technologies for transformative change and enhancing the overall travel experience for its personnel.

December 05, 2023 :

We all know that New York is the city that never sleeps — so what does it do instead? We dug into Lyft’s data to find the ten spots where Lyft riders are most likely to stay past 3 a.m.  It turns out people can be tempted to push their bedtime for: live entertainment (four of the top ten spots host events — including the top spot on our list), late-night eats and drinks, and a good outdoor space. But the number-one temptress of late-night revelry? You guessed it: dancing. So if you’re a night owl, consider this your guide to what’s hot when it’s late in New York City.

North America accounted for the largest market in the Travel and Tourism market. It accounted for 36% of the worldwide market value. An important part of the North American economy is contributed by the travel and tourism sector, which is a vibrant and dynamic sector. This industry, which offers a wide range of services like lodging, travel, and attractions, makes a significant contribution to GDP, employment, and foreign exchange profits. The region appeals to both domestic and foreign tourists because of its diverse geography, rich cultural heritage, and modern technological advancements. The developed infrastructure and connectivity in North America are major factors contributing to the growth of the travel and tourism industry in the continent. The smooth transportation of tourists between various locations is facilitated by the existence of large airports, effective road and rail networks, and sophisticated communication systems.

The three main competitors in the North American travel and tourism market are the United States, Canada, and Mexico, each of which has its own special attractions and experiences. With its recognizable landmarks, energetic cities, and varied natural wonders, the United States draws millions of tourists each year. Mexico’s rich history, stunning beaches, and lively customs make it a popular travel destination, while Canada’s scenic landscapes, outdoor pursuits, and cultural festivals add to its appeal.

The travel and tourism industry in North America has experienced changes in consumer preferences and technological advancements in recent years. Travelers now plan and enjoy their trips in a completely new way thanks to the growth of social media, smartphone applications, and online travel platforms. The shift to digital has given businesses new ways to interact with consumers, personalize services, and optimize marketing strategies. But the industry also has to contend with unanticipated events like pandemics and natural disasters, shifting economic conditions, and environmental concerns. For the tourism industry in North America to remain viable over the long run, sustainable tourism practices and responsible management are becoming more and more crucial. Businesses, governments, and other interested parties are collaborating to find a balance between environmental preservation and economic expansion.

Target Audience for Travel and Tourism Market

• Corporate professionals
• Business executives
• Conference and event attendees
• Outdoor enthusiasts
• Hikers and trekkers
• Adventure sports enthusiasts
• History buffs
• Art and culture enthusiasts
• Archaeology lovers
• High-income individuals
• Luxury vacationers
• VIP travelers

Import & Export Data for Travel and Tourism Market

Exactitude consultancy provides import and export data for the recent years. It also offers insights on production and consumption volume of the product. Understanding the import and export data is pivotal for any player in the Travel and Tourism market. This knowledge equips businesses with strategic advantages, such as:

• Identifying emerging markets with untapped potential.
• Adapting supply chain strategies to optimize cost-efficiency and market responsiveness.
• Navigating competition by assessing major players’ trade dynamics.

Trade volume trends : our report dissects import and export data spanning the last five years to reveal crucial trends and growth patterns within the global Travel and Tourism market. This data-driven exploration empowers readers with a deep understanding of the market’s trajectory.

Market players: gain insights into the leading players driving the Travel and Tourism trade. From established giants to emerging contenders, our analysis highlights the key contributors to the import and export landscape.

Geographical dynamics: delve into the geographical distribution of trade activities. Uncover which regions dominate exports and which ones hold the reins on imports, painting a comprehensive picture of the industry’s global footprint.

Product breakdown : by segmenting data based on Travel and Tourism types –– we provide a granular view of trade preferences and shifts, enabling businesses to align strategies with the evolving technological landscape.

Import and export data is crucial in reports as it offers insights into global market trends, identifies emerging opportunities, and informs supply chain management. By analyzing trade flows, businesses can make informed decisions, manage risks, and tailor strategies to changing demand. This data aids government in policy formulation and trade negotiations, while investors use it to assess market potential. Moreover, import and export data contributes to economic indicators, influences product innovation, and promotes transparency in international trade, making it an essential component for comprehensive and informed analyses.

Segments Covered in the Travel and Tourism Market Report

Travel and Tourism Market by Type Value (USD Billion)

• Educational
• Medical Tourism

Travel and Tourism Market by Application Value (USD Billion)

• International

Travel and Tourism Market by Region Value (USD Billion)

• North America
• Asia Pacific
• South America
• Middle East and Africa
• What is the expected growth rate of the Travel and Tourism market over the next 7 years?
• Who are the major players in the Travel and Tourism market and what is their market share?
• What are the end-user industries driving market demand and what is their outlook?
• What are the opportunities for growth in emerging markets such as Asia-Pacific, the middle east, and Africa?
• How is the economic environment affecting the Travel and Tourism market, including factors such as interest rates, inflation, and exchange rates?
• What is the expected impact of government policies and regulations on the Travel and Tourism market?
• What is the current and forecasted size and growth rate of the global Travel and Tourism market?
• What are the key drivers of growth in the Travel and Tourism market?
• Who are the major players in the market and what is their market share?
• What are the distribution channels and supply chain dynamics in the Travel and Tourism market?
• What are the technological advancements and innovations in the Travel and Tourism market and their impact on product development and growth?
• What are the regulatory considerations and their impact on the market?
• What are the challenges faced by players in the Travel and Tourism market and how are they addressing these challenges?
• What are the opportunities for growth and expansion in the Travel and Tourism market?
• What are the product offerings and specifications of leading players in the market?
• MARKET DEFINITION
• MARKET SEGMENTATION
• RESEARCH TIMELINES
• ASSUMPTIONS AND LIMITATIONS
• SECONDARY RESEARCH
• PRIMARY RESEARCH
• SUBJECT-MATTER EXPERTS’ ADVICE
• FINAL REVIEW
• BOTTOM-UP APPROACH
• TOP-DOWN APPROACH
• RESEARCH FLOW
• DATA SOURCES
• EXECUTIVE SUMMARY
• MARKET DRIVERS
• MARKET RESTRAINTS
• MARKET OPPORTUNITIES
• IMPACT OF COVID-19 ON TRAVEL AND TOURISM MARKET
• THREAT FROM NEW ENTRANTS
• THREAT FROM SUBSTITUTES
• BARGAINING POWER OF SUPPLIERS
• BARGAINING POWER OF CUSTOMERS
• DEGREE OF COMPETITION
• INDUSTRY VALUE CHAIN ANALYSIS
• EDUCATIONAL
• MEDICAL TOURISM
• INTERNATIONAL
• REST OF SOUTH AMERICA
• REST OF EUROPE
• SOUTH KOREA
• SOUTH-EAST ASIA
• REST OF ASIA PACIFIC
• SAUDI ARABIA
• SOUTH AFRICA
• REST OF MIDDLE EAST AND AFRICA
• COMPANY PROFILES*

(BUSINESS OVERVIEW, COMPANY SNAPSHOT, PRODUCT OFFERED, RECENT DEVELOPMENTS)

• EXPEDIA GROUP
• BOOKING HOLDINGS
• MARRIOTT INTERNATIONAL
• HILTON WORLDWIDE HOLDINGS
• TRIPADVISOR
• CTRIP (NOW TRIP.COM GROUP)
• AMERICAN EXPRESS GLOBAL BUSINESS TRAVEL
• DELTA AIR LINES
• SOUTHWEST AIRLINES
• THE WALT DISNEY COMPANY
• INTERCONTINENTAL HOTELS GROUP (IHG)
• ACCORHOTELS
• HYATT HOTELS CORPORATION
• CARNIVAL CORPORATION & PLC
• EMIRATES GROUP
• UNITED AIRLINES HOLDINGS
• ROYAL CARIBBEAN GROUP
• LYFT                    *THE COMPANY LIST IS INDICATIVE

LIST OF TABLES

TABLE 1                GLOBAL TRAVEL AND TOURISM MARKET BY TYPE (USD BILLION) 2020-2030

TABLE 2                GLOBAL TRAVEL AND TOURISM MARKET BY APPLICATION (USD BILLION) 2020-2030

TABLE 3                GLOBAL TRAVEL AND TOURISM MARKET BY REGION (USD BILLION) 2020-2030

TABLE 4                NORTH AMERICA TRAVEL AND TOURISM MARKET BY COUNTRY (USD BILLION) 2020-2030

TABLE 5                NORTH AMERICA TRAVEL AND TOURISM MARKET BY TYPE (USD BILLION) 2020-2030

TABLE 6                NORTH AMERICA TRAVEL AND TOURISM MARKET BY APPLICATION (USD BILLION) 2020-2030

TABLE 7                US TRAVEL AND TOURISM MARKET BY TYPE (USD BILLION) 2020-2030

TABLE 8                US TRAVEL AND TOURISM MARKET BY APPLICATION (USD BILLION) 2020-2030

TABLE 9                CANADA TRAVEL AND TOURISM MARKET BY TYPE (USD BILLION) 2020-2030

TABLE 10              CANADA TRAVEL AND TOURISM MARKET BY APPLICATION (USD BILLION) 2020-2030

TABLE 11              MEXICO TRAVEL AND TOURISM MARKET BY TYPE (USD BILLION) 2020-2030

TABLE 12              MEXICO TRAVEL AND TOURISM MARKET BY APPLICATION (USD BILLION) 2020-2030

TABLE 13              SOUTH AMERICA TRAVEL AND TOURISM MARKET BY COUNTRY (USD BILLION) 2020-2030

TABLE 14              SOUTH AMERICA TRAVEL AND TOURISM MARKET BY TYPE (USD BILLION) 2020-2030

TABLE 15              SOUTH AMERICA TRAVEL AND TOURISM MARKET BY APPLICATION (USD BILLION) 2020-2030

TABLE 16              BRAZIL TRAVEL AND TOURISM MARKET BY TYPE (USD BILLION) 2020-2030

TABLE 17              BRAZIL TRAVEL AND TOURISM MARKET BY APPLICATION (USD BILLION) 2020-2030

TABLE 18              ARGENTINA TRAVEL AND TOURISM MARKET BY TYPE (USD BILLION) 2020-2030

TABLE 19              ARGENTINA TRAVEL AND TOURISM MARKET BY APPLICATION (USD BILLION) 2020-2030

TABLE 20              COLOMBIA TRAVEL AND TOURISM MARKET BY TYPE (USD BILLION) 2020-2030

TABLE 21              COLOMBIA TRAVEL AND TOURISM MARKET BY APPLICATION (USD BILLION) 2020-2030

TABLE 22              REST OF SOUTH AMERICA TRAVEL AND TOURISM MARKET BY TYPE (USD BILLION) 2020-2030

TABLE 23              REST OF SOUTH AMERICA TRAVEL AND TOURISM MARKET BY APPLICATION (USD BILLION) 2020-2030

TABLE 24              ASIA-PACIFIC TRAVEL AND TOURISM MARKET BY COUNTRY (USD BILLION) 2020-2030

TABLE 25              ASIA-PACIFIC TRAVEL AND TOURISM MARKET BY TYPE (USD BILLION) 2020-2030

TABLE 26              ASIA-PACIFIC TRAVEL AND TOURISM MARKET BY APPLICATION (USD BILLION) 2020-2030

TABLE 27              INDIA TRAVEL AND TOURISM MARKET BY TYPE (USD BILLION) 2020-2030

TABLE 28              INDIA TRAVEL AND TOURISM MARKET BY APPLICATION (USD BILLION) 2020-2030

TABLE 29              CHINA TRAVEL AND TOURISM MARKET BY TYPE (USD BILLION) 2020-2030

TABLE 30              CHINA TRAVEL AND TOURISM MARKET BY APPLICATION (USD BILLION) 2020-2030

TABLE 31              JAPAN TRAVEL AND TOURISM MARKET BY TYPE (USD BILLION) 2020-2030

TABLE 32              JAPAN TRAVEL AND TOURISM MARKET BY APPLICATION (USD BILLION) 2020-2030

TABLE 33              SOUTH KOREA TRAVEL AND TOURISM MARKET BY TYPE (USD BILLION) 2020-2030

TABLE 34              SOUTH KOREA TRAVEL AND TOURISM MARKET BY APPLICATION (USD BILLION) 2020-2030

TABLE 35              AUSTRALIA TRAVEL AND TOURISM MARKET BY TYPE (USD BILLION) 2020-2030

TABLE 36              AUSTRALIA TRAVEL AND TOURISM MARKET BY APPLICATION (USD BILLION) 2020-2030

TABLE 37              SOUTH-EAST ASIA TRAVEL AND TOURISM MARKET BY TYPE (USD BILLION) 2020-2030

TABLE 38              SOUTH-EAST ASIA TRAVEL AND TOURISM MARKET BY APPLICATION (USD BILLION) 2020-2030

TABLE 39              REST OF ASIA PACIFIC TRAVEL AND TOURISM MARKET BY TYPE (USD BILLION) 2020-2030

TABLE 40              REST OF ASIA PACIFIC TRAVEL AND TOURISM MARKET BY APPLICATION (USD BILLION) 2020-2030

TABLE 41              EUROPE TRAVEL AND TOURISM MARKET BY COUNTRY (USD BILLION) 2020-2030

TABLE 42              EUROPE TRAVEL AND TOURISM MARKET BY TYPE (USD BILLION) 2020-2030

TABLE 43              EUROPE TRAVEL AND TOURISM MARKET BY APPLICATION (USD BILLION) 2020-2030

TABLE 44              GERMANY TRAVEL AND TOURISM MARKET BY TYPE (USD BILLION) 2020-2030

TABLE 45              GERMANY TRAVEL AND TOURISM MARKET BY APPLICATION (USD BILLION) 2020-2030

TABLE 46              UK TRAVEL AND TOURISM MARKET BY TYPE (USD BILLION) 2020-2030

TABLE 47              UK TRAVEL AND TOURISM MARKET BY APPLICATION (USD BILLION) 2020-2030

TABLE 48              FRANCE TRAVEL AND TOURISM MARKET BY TYPE (USD BILLION) 2020-2030

TABLE 49              FRANCE TRAVEL AND TOURISM MARKET BY APPLICATION (USD BILLION) 2020-2030

TABLE 50              ITALY TRAVEL AND TOURISM MARKET BY TYPE (USD BILLION) 2020-2030

TABLE 51              ITALY TRAVEL AND TOURISM MARKET BY APPLICATION (USD BILLION) 2020-2030

TABLE 52              SPAIN TRAVEL AND TOURISM MARKET BY TYPE (USD BILLION) 2020-2030

TABLE 53              SPAIN TRAVEL AND TOURISM MARKET BY APPLICATION (USD BILLION) 2020-2030

TABLE 54              RUSSIA TRAVEL AND TOURISM MARKET BY TYPE (USD BILLION) 2020-2030

TABLE 55              RUSSIA TRAVEL AND TOURISM MARKET BY APPLICATION (USD BILLION) 2020-2030

TABLE 56              REST OF EUROPE TRAVEL AND TOURISM MARKET BY TYPE (USD BILLION) 2020-2030

TABLE 57              REST OF EUROPE TRAVEL AND TOURISM MARKET BY APPLICATION (USD BILLION) 2020-2030

TABLE 58              MIDDLE EAST AND AFRICA TRAVEL AND TOURISM MARKET BY COUNTRY (USD BILLION) 2020-2030

TABLE 59              MIDDLE EAST AND AFRICA TRAVEL AND TOURISM MARKET BY TYPE (USD BILLION) 2020-2030

TABLE 60              MIDDLE EAST AND AFRICA TRAVEL AND TOURISM MARKET BY APPLICATION (USD BILLION) 2020-2030

TABLE 61              UAE TRAVEL AND TOURISM MARKET BY TYPE (USD BILLION) 2020-2030

TABLE 62              UAE TRAVEL AND TOURISM MARKET BY APPLICATION (USD BILLION) 2020-2030

TABLE 63              SAUDI ARABIA TRAVEL AND TOURISM MARKET BY TYPE (USD BILLION) 2020-2030

TABLE 64              SAUDI ARABIA TRAVEL AND TOURISM MARKET BY APPLICATION (USD BILLION) 2020-2030

TABLE 65              SOUTH AFRICA TRAVEL AND TOURISM MARKET BY TYPE (USD BILLION) 2020-2030

TABLE 66              SOUTH AFRICA TRAVEL AND TOURISM MARKET BY APPLICATION (USD BILLION) 2020-2030

TABLE 67              REST OF MIDDLE EAST AND AFRICA TRAVEL AND TOURISM MARKET BY TYPE (USD BILLION) 2020-2030

TABLE 68              REST OF MIDDLE EAST AND AFRICA TRAVEL AND TOURISM MARKET BY APPLICATION (USD BILLION) 2020-2030

LIST OF FIGURES

FIGURE 1              MARKET DYNAMICS

FIGURE 2              MARKET SEGMENTATION

FIGURE 3              REPORT TIMELINES: YEARS CONSIDERED

FIGURE 4              DATA TRIANGULATION

FIGURE 5              BOTTOM-UP APPROACH

FIGURE 6              TOP-DOWN APPROACH

FIGURE 7              RESEARCH FLOW

FIGURE 8              GLOBAL TRAVEL AND TOURISM MARKET BY TYPE (USD BILLION) 2020-2030

FIGURE 9              GLOBAL TRAVEL AND TOURISM MARKET BY APPLICATION (USD BILLION) 2020-2030

FIGURE 11           GLOBAL TRAVEL AND TOURISM MARKET BY REGION (USD BILLION) 2020-2030

FIGURE 12           PORTER’S FIVE FORCES MODEL

FIGURE 13           GLOBAL TRAVEL AND TOURISM MARKET BY TYPE (USD BILLION) 2021

FIGURE 14           GLOBAL TRAVEL AND TOURISM MARKET BY APPLICATION (USD BILLION) 2021

FIGURE 16           GLOBAL TRAVEL AND TOURISM MARKET BY REGION (USD BILLION) 2021

FIGURE 17           MARKET SHARE ANALYSIS

FIGURE 18           EXPEDIA GROUP: COMPANY SNAPSHOT

FIGURE 19           BOOKING HOLDINGS: COMPANY SNAPSHOT

FIGURE 20           AIRBNB: COMPANY SNAPSHOT

FIGURE 21           MARRIOTT INTERNATIONAL: COMPANY SNAPSHOT

FIGURE 22           HILTON WORLDWIDE HOLDINGS: COMPANY SNAPSHOT

FIGURE 23           TRIPADVISOR: COMPANY SNAPSHOT

FIGURE 24           CTRIP (NOW TRIP.COM GROUP): COMPANY SNAPSHOT

FIGURE 25           AMERICAN EXPRESS GLOBAL BUSINESS TRAVEL: COMPANY SNAPSHOT

FIGURE 26           DELTA AIR LINES: COMPANY SNAPSHOT

FIGURE 27           SOUTHWEST AIRLINES: COMPANY SNAPSHOT

FIGURE 28           THE WALT DISNEY COMPANY: COMPANY SNAPSHOT

FIGURE 29           INTERCONTINENTAL HOTELS GROUP (IHG): COMPANY SNAPSHOT

FIGURE 30           ACCORHOTELS: COMPANY SNAPSHOT

FIGURE 31           HYATT HOTELS CORPORATION: COMPANY SNAPSHOT

FIGURE 32           CARNIVAL CORPORATION & PLC: COMPANY SNAPSHOT

FIGURE 33           EMIRATES GROUP: COMPANY SNAPSHOT

FIGURE 34           UNITED AIRLINES HOLDINGS: COMPANY SNAPSHOT

FIGURE 35           ROYAL CARIBBEAN GROUP: COMPANY SNAPSHOT

FIGURE 36           UBER: COMPANY SNAPSHOT

FIGURE 37           LYFT: COMPANY SNAPSHOT

North America accounted for the largest market in the Travel and Tourism market. North America accounted for 36 % market share of the global market value.

Expedia Group, Booking Holdings, Airbnb, Marriott International, Hilton Worldwide Holdings, TripAdvisor, Ctrip, American Express Global Business Travel, Delta Air Lines, Southwest Airlines

The travel and tourism sector is using technology more and more, including augmented reality, virtual reality, and artificial intelligence. From contactless check-ins and digital payment methods to virtual tours and AI-powered travel suggestions, these technologies improve the whole travel experience. The COVID-19 pandemic has had a major impact on how people travel. Concerns for one’s health and safety are now paramount when traveling. This includes more latitude in booking and cancellation policies, touchless technology, and strict hygiene protocols in lodgings.

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Tourism Market

Tourism Market Size By Travel Days (Within 7 Days, More Than 15 Days, and 7-15 Days), By Travel Type (Business Spending and Leisure Spending), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2022 to 2030

• Report ID: TBI-13245
• Published Date: Jan, 2023
• Category: Consumer Goods
• Format: PDF

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• Table of Content
• Market Segmentation

Methodology

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The global tourism market is expected to reach USD 16.9 Trillion by 2030, at a CAGR of 5.4% during the forecast period 2022 to 2030. Asia Pacific is expected to grow the fastest during the forecast period. 

Market Overview:

Travel may be short-distance, long-distance, domestic, or international. The travel demand is expected to increase significantly over the next few years due to various factors, particularly after the relaxation of travel limitations connected to COVID-19. The different aspects of the broader service sector that meet the wants and needs of people who travel from one part of the world to another are included in the travel business. Sustainable travel, which is predicted to be the future of travel, is projected to have a growing impact on the expansion of the travel and tourist industry. The improvement in accessibility to several isolated but stunning sites as well as the development in disposable income, are the main factors driving the travel and tourism business. The travel and tourist industry has benefited from the robust growth of the general infrastructure and transportation systems. Unique once-in-a-lifetime experiences are becoming more and more popular among millennial tourists. Ecological trips are growing in popularity in this setting. As a result, the global travel and tourism market is expanding faster than before. To diversify their revenue streams, businesses in the travel and tourism industry must provide cutting-edge and distinctive travel experiences, such as immersive tours.

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Recent Development

• Hilton Worldwide Holdings Inc. made intentions to increase its presence in the Caribbean and Latin America public in August 2022. By the end of 2022, the business anticipates opening its 200th hotel in the area. The company also inked 15 new development partnerships. It announced intentions to open 15 further hotels in the second half of 2022, increasing the total number of projects in its pipeline to 105, totalling almost 15,750 rooms.
• On Unguja, the largest island in Zanzibar, RIU debuted the Riu Jambo, its second hotel, in June 2022. With a total of 461 rooms, it is a 4-star, 24-hour all-inclusive hotel.

Market Dynamics:

Increasing Government Initiatives - Emerging countries benefit greatly from health tourism's financial output, which enables them to improve their healthcare infrastructure. Public authorities have responded by increasing their participation in travel and tourist websites in favour of healthcare services. For instance, the Thai government released the criteria for issuing smart visas to professionals or business owners seeking to start new ventures in February 2018. This announcement may help international health tourism service providers expand their operations in Thailand.

Restraints:

Rise in Cost- However, one of the main reasons that would impede market growth and further complicate the expansion of the tourism market over the forecast period is the rise in the cost of research and development activities. The development of the cultural tourist business will be further hampered by the strict rules put in place by the authorities in response to the impact of COVID-19.

Opportunities:

Promotions by the government - To draw in a variety of travellers from all over the world, governments and organisations like the World Tourism Organization (UNWTO) are promoting tourism. The global tourism market is expanding as a result of these measures. The emerging notion of adventure tourism is driving the whole tourism market. Furthermore, a recent development in the global tourism industry is medical tourism . The notable price differences between medical procedures in various nations drive the global trend of medical tourism. International sporting events also drive the global tourism business. Sports events like the FIFA World Cup 2014, the London Olympics 2012, and the ICC World Cup 2011 attract travellers.

Challenges:

Several Risks Associated - When a person is travelling to another country, there are several risks associated with it, such as; contracting disease, robbery, legal issues etc. Furthermore, there are several language barriers which also challenge the market’s growth over the forecast period.

Regional segmentation analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. Asia Pacific emerged as the largest market for the global tourism market, with a 40% share of the market revenue in 2022.

Asia Pacific currently dominates tourism with a 40% market revenue share in 2022. China and India are the two most powerful nations in the region. The developing BRICS nations are a focus for international tourism and travel companies. In China, the travel and tourism sector is expanding. Tourism industry participants worldwide should benefit financially from inbound and outbound tourism to growing Asia-Pacific nations. Thailand, Japan, Singapore, Vietnam, Indonesia, Malaysia, the Philippines, and South Korea are the most popular travel destinations. After the pandemic's peak, there has been a persistent trend toward ecotourism, emphasising conservation, adventure travel, and health and wellness tours.

Europe is expected to witness the fastest growth during the forecast period. To increase tourism, important government agencies in the area are working with specialised tourism businesses and other government agencies. This is a significant factor influencing the European travel and tourism industry globally.

Europe Region Tourism Market Share in 2022 - 33%

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Travel Days Analysis:

The travel days segment is divided into within 7 days, more than 15 days, and 7-15 days. The within 7 days segment dominated the market, with a market share of around 40% in 2022. The travel days are usually 7 days. As people have their professional responsibilities so they cant expand their travelling days to more than 7, which adds impetus to the segment’s growth.

Travel Type Analysis:

The travel type segment is divided into business spending and leisure spending. Over the forecast period, the business spending segment is expected to grow at the fastest CAGR of 5.9%. Most of the businesses offer travelling facilities to their employees, adding impetus to the segment’s growth.

List of Key Market Players:

• Austin Adventures, Inc.
• Butterfield & Robinson Inc.
• G Adventures
• Geographic Expeditions Inc.
• Intrepid Group, ltd.
• Mountain Travel Sobek
• Discovery Nomads
• Row Adventures
• Cox & Kings Ltd.

Report Description: 

Frequesntly Asked Questions

What is the market size of the global tourism market.

As per The Brainy Insights, the size of the tourism market was valued at USD 11.1 Trillion in 2022 to USD 16.9 Trillion by 2030.

What is the market growth rate of the global tourism market?

The global tourism market is growing at a CAGR of 5.4% during the forecast period 2022-2030.

Which region dominates the global tourism market?

Asia Pacific currently emerged as the largest market for Tourism.

Who are the key players in the global tourism market?

Key players in the Tourism market are Austin Adventures, Inc., Butterfield & Robinson Inc., G Adventures, Geographic Expeditions Inc., Intrepid Group, ltd., Mountain Travel Sobek, Discovery Nomads, Row Adventures, Tui Group, and Cox & Kings Ltd.

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• Report can be prepared for any specific country/region/segment
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1. Introduction     1.1. Objectives of the Study     1.2. Market Definition     1.3. Research Scope     1.4. Currency     1.5. Key Target Audience 2. Research Methodology and Assumptions 3. Executive Summary 4. Premium Insights     4.1. Porter’s Five Forces Analysis     4.2. Value Chain Analysis     4.3. Top Investment Pockets           4.3.1. Market Attractiveness Analysis By Travel Days           4.3.2. Market Attractiveness Analysis By Travel Type           4.3.3. Market Attractiveness Analysis By Region     4.4. Industry Trends 5. Market Dynamics     5.1. Market Evaluation     5.2. Drivers           5.2.1. Increasing Government Initiatives     5.3. Restraints           5.3.1. Rise in Cost     5.4. Opportunities           5.4.1. Promotions by government     5.5. Challenges           5.5.1. Several Risks Associated 6. Global Tourism Market Analysis and Forecast, By Travel Days     6.1. Segment Overview     6.2. Within 7 Days     6.3. More Than 15 Days     6.4. 7-15 Days 7. Global Tourism Market Analysis and Forecast, By Travel Type     7.1. Segment Overview     7.2. Business Spending     7.3. Leisure Spending 8. Global Tourism Market Analysis and Forecast, By Regional Analysis     8.1. Segment Overview     8.2. North America           8.2.1. U.S.           8.2.2. Canada           8.2.3. Mexico     8.3. Europe           8.3.1. Germany           8.3.2. France           8.3.3. U.K.           8.3.4. Italy           8.3.5. Spain     8.4. Asia-Pacific           8.4.1. Japan           8.4.2. China           8.4.3. India     8.5. South America           8.5.1. Brazil     8.6. Middle East and Africa           8.6.1. UAE           8.6.2. South Africa 9. Global Tourism Market-Competitive Landscape     9.1. Overview     9.2. Market Share of Key Players in Global Tourism Market           9.2.1. Global Company Market Share           9.2.2. North America Company Market Share           9.2.3. Europe Company Market Share           9.2.4. APAC Company Market Share     9.3. Competitive Situations and Trends           9.3.1. Travel Days Launches and Developments           9.3.2. Partnerships, Collaborations, and Agreements           9.3.3. Mergers & Acquisitions           9.3.4. Expansions 10. Company Profiles     10.1. Austin Adventures, Inc.           10.1.1. Business Overview           10.1.2. Company Snapshot           10.1.3. Company Market Share Analysis           10.1.4. Company Travel Days Portfolio           10.1.5. Recent Developments           10.1.6. SWOT Analysis     10.2. Butterfield & Robinson Inc           10.2.1. Business Overview           10.2.2. Company Snapshot           10.2.3. Company Market Share Analysis           10.2.4. Company Travel Days Portfolio           10.2.5. Recent Developments           10.2.6. SWOT Analysis     10.3. G Adventures           10.3.1. Business Overview           10.3.2. Company Snapshot           10.3.3. Company Market Share Analysis           10.3.4. Company Travel Days Portfolio           10.3.5. Recent Developments           10.3.6. SWOT Analysis     10.4. Geographic Expeditions Inc.           10.4.1. Business Overview           10.4.2. Company Snapshot           10.4.3. Company Market Share Analysis           10.4.4. Company Travel Days Portfolio           10.4.5. Recent Developments           10.4.6. SWOT Analysis     10.5. Intrepid Group, ltd.           10.5.1. Business Overview           10.5.2. Company Snapshot           10.5.3. Company Market Share Analysis           10.5.4. Company Travel Days Portfolio           10.5.5. Recent Developments           10.5.6. SWOT Analysis     10.6. Mountain Travel Sobek           10.6.1. Business Overview           10.6.2. Company Snapshot           10.6.3. Company Market Share Analysis           10.6.4. Company Travel Days Portfolio           10.6.5. Recent Developments           10.6.6. SWOT Analysis     10.7. Discovery Nomads           10.7.1. Business Overview           10.7.2. Company Snapshot           10.7.3. Company Market Share Analysis           10.7.4. Company Travel Days Portfolio           10.7.5. Recent Developments           10.7.6. SWOT Analysis     10.8. Row Adventures           10.8.1. Business Overview           10.8.2. Company Snapshot           10.8.3. Company Market Share Analysis           10.8.4. Company Travel Days Portfolio           10.8.5. Recent Developments           10.8.6. SWOT Analysis     10.9. Tui Group           10.9.1. Business Overview           10.9.2. Company Snapshot           10.9.3. Company Market Share Analysis           10.9.4. Company Travel Days Portfolio           10.9.5. Recent Developments           10.9.6. SWOT Analysis     10.10. Cox & Kings Ltd.           10.10.1. Business Overview           10.10.2. Company Snapshot           10.10.3. Company Market Share Analysis           10.10.4. Company Travel Days Portfolio           10.10.5. Recent Developments           10.10.6. SWOT Analysis

List of Table

1. Global Tourism Market, By Travel Days, 2019-2030 (USD Trillion)

2. Global Within 7 Days, Tourism Market, By Region, 2019-2030 (USD Trillion) 

3. Global More Than 15 Days, Tourism Market, By Region, 2019-2030 (USD Trillion)

4. Global 7-15 Days, Tourism Market, By Region, 2019-2030 (USD Trillion)

5. Global Tourism Market, By Travel Type, 2019-2030 (USD Trillion)

6. Global Business Spending, Tourism Market, By Region, 2019-2030 (USD Trillion)

7. Global Leisure Spending, Tourism Market, By Region, 2019-2030 (USD Trillion)

8. North America Tourism Market, By Travel Days, 2019-2030 (USD Trillion)

9. North America Tourism Market, By Travel Type, 2019-2030 (USD Trillion)

10. U.S. Tourism Market, By Travel Days, 2019-2030 (USD Trillion)

11. U.S. Tourism Market, By Travel Type, 2019-2030 (USD Trillion)

12. Canada Tourism Market, By Travel Days, 2019-2030 (USD Trillion)

13. Canada Tourism Market, By Travel Type, 2019-2030 (USD Trillion)

14. Mexico Tourism Market, By Travel Days, 2019-2030 (USD Trillion)

15. Mexico Tourism Market, By Travel Type, 2019-2030 (USD Trillion)

16. Europe Tourism Market, By Travel Days, 2019-2030 (USD Trillion)

17. Europe Tourism Market, By Travel Type, 2019-2030 (USD Trillion)

18. Germany Tourism Market, By Travel Days, 2019-2030 (USD Trillion)

19. Germany Tourism Market, By Travel Type, 2019-2030 (USD Trillion)

20. France Tourism Market, By Travel Days, 2019-2030 (USD Trillion)

21. France Tourism Market, By Travel Type, 2019-2030 (USD Trillion)

22. U.K. Tourism Market, By Travel Days, 2019-2030 (USD Trillion)

23. U.K. Tourism Market, By Travel Type, 2019-2030 (USD Trillion)

24. Italy Tourism Market, By Travel Days, 2019-2030 (USD Trillion)

25. Italy Tourism Market, By Travel Type, 2019-2030 (USD Trillion)

26. Spain Tourism Market, By Travel Days, 2019-2030 (USD Trillion)

27. Spain Tourism Market, By Travel Type, 2019-2030 (USD Trillion)

28. Asia Pacific Tourism Market, By Travel Days, 2019-2030 (USD Trillion)

29. Asia Pacific Tourism Market, By Travel Type, 2019-2030 (USD Trillion)

30. Japan Tourism Market, By Travel Days, 2019-2030 (USD Trillion)

31. Japan Tourism Market, By Travel Type, 2019-2030 (USD Trillion)

32. China Tourism Market, By Travel Days, 2019-2030 (USD Trillion)

33. China Tourism Market, By Travel Type, 2019-2030 (USD Trillion)

34. India Tourism Market, By Travel Days, 2019-2030 (USD Trillion)

35. India Tourism Market, By Travel Type, 2019-2030 (USD Trillion)

36. South America Tourism Market, By Travel Days, 2019-2030 (USD Trillion)

37. South America Tourism Market, By Travel Type, 2019-2030 (USD Trillion)

38. Brazil Tourism Market, By Travel Days, 2019-2030 (USD Trillion)

39. Brazil Tourism Market, By Travel Type, 2019-2030 (USD Trillion)

40. Middle East and Africa Tourism Market, By Travel Days, 2019-2030 (USD Trillion)

41. Middle East and Africa Tourism Market, By Travel Type, 2019-2030 (USD Trillion)

42. UAE Tourism Market, By Travel Days, 2019-2030 (USD Trillion)

43. UAE Tourism Market, By Travel Type, 2019-2030 (USD Trillion)

44. South Africa Tourism Market, By Travel Days, 2019-2030 (USD Trillion)

45. South Africa Tourism Market, By Travel Type, 2019-2030 (USD Trillion)

List of Figures  

1. Global Tourism Market Segmentation

2. Global Tourism Market: Research Methodology

3. Market Size Estimation Methodology: Bottom-Up Approach

4. Market Size Estimation Methodology: Top-Down Approach

5. Data Triangulation

6. Porter’s Five Forces Analysis 

7. Value Chain Analysis 

8. Global Tourism Market Attractiveness Analysis By Travel Days

9. Global Tourism Market Attractiveness Analysis By Travel Type

10. Global Tourism Market Attractiveness Analysis By Region

11. Global Tourism Market: Dynamics

12. Global Tourism Market Share By Travel Days (2022 & 2030)

13. Global Tourism Market Share By Travel Type (2022 & 2030)

14. Global Tourism Market Share By Regions (2022 & 2030)

15. Global Tourism Market Share By Company (2021)

This study forecasts global, regional, and country revenue from 2019 to 2030. Brainy Insights has segmented the global tourism market based on the below-mentioned segments:

Global Tourism Market by Travel Days: 

• Within 7 Days
• More Than 15 Days

Global Tourism Market by Travel Type:

• Business Spending
• Leisure Spending

Global Tourism Market by Region:

• South Africa

Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision. 

Our research reports feature both; quantitative and qualitative aspects for any market. Qualitative information for any market research process are fundamental because they reveal the customer needs and wants, usage and consumption for any product/service related to a specific industry. This in turn aids the marketers/investors in knowing certain perceptions of the customers. Qualitative research can enlighten about the different product concepts and designs along with unique service offering that in turn, helps define marketing problems and generate opportunities. On the other hand, quantitative research engages with the data collection process through interviews, e-mail interactions, surveys and pilot studies. Quantitative aspects for the market research are useful to validate the hypotheses generated during qualitative research method, explore empirical patterns in the data with the help of statistical tools, and finally make the market estimations.

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Our research methodology encompasses an idyllic combination of primary and secondary initiatives. Key phases involved in this process are listed below:

MARKET RESEARCH PROCESS

Data Procurement:

The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.

The data procurement stage involves in data gathering and collecting through various data sources.

This stage involves in extensive research. These data sources includes:

Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:

• The organizational databases such as D&B Hoovers, and Bloomberg that helps us to identify the competitive scenario of the key market players/organizations along with the financial information.
• Industry/Market databases such as Statista, and Factiva provides market/industry insights and deduce certain formulations. 
• We also have contractual agreements with various reputed data providers and third party vendors who provide information which are not limited to:
• Import & Export Data
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• Usage rates of a particular product/service on certain demographics mainly focusing on the unmet prerequisites

Primary Research: The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. Primary research mainly involves in telephonic interviews, E-mail interactions and face-to-face interviews with the raw material providers, manufacturers/producers, distributors, & independent consultants. The interviews that we conduct provides valuable data on market size and industry growth trends prevailing in the market. Our organization also conducts surveys with the various industry experts in order to gain overall insights of the industry/market. For instance, in healthcare industry we conduct surveys with the pharmacists, doctors, surgeons and nurses in order to gain insights and key information of a medical product/device/equipment which the customers are going to usage. Surveys are conducted in the form of questionnaire designed by our own analyst team. Surveys plays an important role in primary research because surveys helps us to identify the key target audiences of the market. Additionally, surveys helps to identify the key target audience engaged with the market. Our survey team conducts the survey by targeting the key audience, thus gaining insights from them. Based on the perspectives of the customers, this information is utilized to formulate market strategies. Moreover, market surveys helps us to understand the current competitive situation of the industry. To be precise, our survey process typically involve with the 360 analysis of the market. This analytical process begins by identifying the prospective customers for a product or service related to the market/industry to obtain data on how a product/service could fit into customers’ lives.

Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.

The supply side for a domain specific market is analysed by:

• Estimating and projecting penetration rates through analysing product attributes, availability of internal and external substitutes, followed by pricing analysis of the product.
• Experiential assessment of year-on-year sales of the product by conducting interviews.

The demand side for the market is estimated through:

• Evaluating the penetration level and usage rates of the product.
• Referring to the historical data to determine the growth rate and evaluate the industry trends

In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.

Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:

• Applying demographic along with psychographic segmentation for market evaluation
• Determining the Micro and Macro-economic indicators for each region 
• Examining the industry indicators prevailing in the market. 

Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:

• Data Screening: Data screening is the process of scrutinising data/information collected from primary research for errors and amending those collected data before data integration method. The screening involves in examining raw data, identifying errors and dealing with missing data. The purpose of the data screening is to ensure data is correctly entered or not. The Brainy Insights employs objective and systematic data screening grades involving repeated cycles of quality checks, screening and suspect analysis.
• Data Integration: Integrating multiple data streams is necessary to produce research studies that provide in-depth picture to the clients. These data streams come from multiple research studies and our in house database. After screening of the data, our analysts conduct creative integration of data sets, optimizing connections between integrated surveys and syndicated data sources. There are mainly 2 research approaches that we follow in order to integrate our data; top down approach and bottom up approach.

Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.

This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.

Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.

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• CXOs and VPs of leading companies’ specific to sector
• Purchasing managers, technical personnel, end-users
• Key opinion leaders such as investment bankers, and industry consultants

Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.

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Tourism & Hospitality

India ranks 6th according to wttc in terms of travel & tourism total contribution to gdp in 2022  .

Sector Expert Manas Prakash

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• TOURISM & HOSPITALITY

Industry Scenario

Investible projects, major investors.

• Infrastructure Map
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Latest In Tourism & Hospitality

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Quick links, unlock the marvels of incredible india, powerhouse of tourism and hospitality.

Tourism and Hospitality, as one of India's largest service industries, plays an extraordinary role in driving the nation's growth and prosperity. 

The Tourism and Hospitality sector is an integral part of the Make in India initiative, serving as a vital economic catalyst that fuels job creation and rapid development. 

It acts as a stimulant for the growth of multi-use infrastructure, including world-class hotels, resorts, exquisite restaurants, efficient transportation networks (aviation, roads, shipping, and railways), and state-of-the-art healthcare facilities. 

India proudly boasts a tapestry of geographical diversity, encompassing awe-inspiring world heritage sites and niche tourism offerings such as captivating cruise tourism, exhilarating adventure tourism, renowned medical tourism, and mesmerizing eco-tourism. These unique offerings have resulted in an exponential increase in tourist arrivals, opening up vast employment opportunities. 

The recently announced 2023 Union Budget has firmly placed tourism as a key sector in the spotlight. The Ministry of Tourism, in its mission mode, is dedicated to promoting the industry through active participation from all States, the convergence of Government Programs, and the establishment of impactful Public-Private Partnerships. This visionary approach will facilitate comprehensive development in at least 50 selected destinations through a challenge mode process. 

Recognizing the importance of diversity and gender empowerment, the tourism industry stands as a leading employer of women. The government proactively collaborates with industry stakeholders to create a conducive work environment that fosters equal opportunities and celebrates the contributions of female employees. 

The Ministry of Tourism has also designated the Year 2023 as the 'Visit India' year, an invitation to the world to witness the splendor and magnificence that our nation has to offer. 

Embracing a progressive outlook, India welcomes 100% Foreign Direct Investment (FDI) in the tourism industry under the automatic route.  

Additionally, 100% FDI is permitted for tourism construction projects, including the development of exquisite hotels, resorts, and unparalleled recreational facilities. 

For comprehensive details, please refer to the FDI Policy, which highlights the investment opportunities and guidelines in the tourism sector. 

India's tourism industry stands as a beacon of boundless possibilities, with its rich heritage, cultural tapestry, and captivating destinations. We invite you to embark on an extraordinary journey of investment and partnership, where your vision aligns with the immense potential India holds

Foreign Tourist Arrivals (Jan-Dec 2023)

Domestic Tourist Visits to all States/UTs (2022)

Annual Growth Rate of FTAs in India (2022)

Foreign exchange earnings (FEE) from tourism (Jan-Dec 2023)

Share of India in International Tourism Receipts (ITRs) in World

6th in terms of Travel & Tourism total contribution to GDP, WTTC (2021)

2nd in terms of Travel & Tourism Employment, WTTC (2021)

54 th  on the World Economic Forum Travel & Tourism Development Index (2022)

• FOREIGN INVESTMENT
• INDUSTRY TRENDS
• POLICIES & SCHEMES

Government of India envisions $56 Bn forex, creating around 140 Mn jobs in tourism by 2030 through inclusive growth and  particularly focusing on cruise tourism, ecotourism and adventure tourism.   

The Indian Tourism sector ranks among the fastest-growing economic sectors in the country. The industry significantly impacts employment and drives regional development, while also creating a multiplier effect on the performance of related industries.

By 2028, India's tourism and hospitality industry is projected to generate revenue of over $59 Bn. Additionally, Foreign Tourist Arrivals (FTAs) are anticipated to reach 30.5 Mn by 2028.

In light of India's G20 Presidency and the India@75 Azadi ka Amrit Mahotsav celebrations, the Ministry of Tourism has designated 2023 as the 'Visit India Year' to promote inbound travel.

The Honorable Prime Minister has envisioned a mission mode approach to develop tourism during Amrit Kaal, with a strategic roadmap for the next 25 years. The objective is to position India as the foremost travel destination globally by the time we celebrate India@100 in 2047, creating unparalleled appeal for visitors from around the world. 

Ministry of Tourism is planning to organize a Global Tourism Investors Summit along with Central Ministries and State/UT Governments to showcase opportunities for investment and trade. The event will allow global investors to explore Indian Tourism products and services.

Union Budget 2023 Highlights:

• 50 tourist destinations will be selected through challenge mode to be developed as a whole package for domestic and international tourism
• Sector-specific skilling and entrepreneurship development to be dovetailed to achieve the objectives of the ‘Dekho Apna Desh’ initiative
• Tourism infrastructure and amenities to be facilitated in border villages through the Vibrant Villages Programme
• Unity Malls to be set up in State Capitals or prominent tourist centres

GROWTH DRIVERS

Infrastructure development.

More than half of the Ministry of Tourism’s budget is channelised for funding the development of destinations, circuits, mega projects as well as rural tourism infrastructure projects.

Hotels & Accommodation

Revenue is projected at $7.66 Bn in 2023. CAGR of 8.29% between 2023-27. 61.3 Mn potential customers by 2027

Adventure Tourism

India has 70% of the Himalayas, a 7,000+ Km of coastline, ranks 10th in total area under forest cover, and is one of the three countries in the world with both hot and cold deserts.

Medical tourism

Medical tourism and wellness retreats attract 21% of international travelers, leveraging world-class healthcare facilities and traditional healing practices.

Cruise Tourism

Cruise passenger traffic expected to increase from 0.4 Mn to 4 Mn by 2032. Increase in economic potential from $110 Mn to $5.5 Bn.

Eco-Tourism

Expected to grow at 15.7% between 2019-27 & reach $4.55 Bn. India offers unique destinations, exploration of wildlife, and pristine undisturbed natural areas.

Meetings, Incentives, Conferences, and Exhibitions

The Indian MICE market has less than 1% share currently, but with initiatives such as ‘Meet in India’, National Advisory Council for Mice, India Mice Board, MICE Tourism is projected to double in next 5 years.

Entrepreneurial Opportunities

The tourism sector has 1,300+ DPIIT recognized startups.

Industrial Land Bank Portal

Gis - based map displaying available infrastructure for setting up business operations in the state., investment opportunities in tourism & hospitality.

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Frequently Asked Questions

The Ministry of Tourism is set to host the First Global Tourism Investors Summit in 2023 in collaboration with Central Ministries and State/UT Governments. 

This mega event aims to highlight investment and trade opportunities while providing a platform for international investors to discover India's diverse tourism products and services.  

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Recognising the potential of rural tourism in the country, the Ministry of Tourism has identified Rural Circuit as one of the fifteen thematic circuits for development under the Swadesh Darshan Scheme and is aimed at leveraging tourism as a force multiple for revitalizing the rural economy and for giving both domestic and international tourists a glimpse of rural aspect of the country.

Further, Ministry of Tourism has formulated a Draft 'National Strategy and Roadmap for Development of Rural Tourism in India - An initiative towards Atmanirbhar Bharat', which, inter alia, focuses on generating income and jobs in rural areas and empower local communities, youth and women, fulfilling the vision of Aatmanirbhar Bharat.

The GOI has identified 78 lighthouses in the country as centres of tourism, which are in the first phase under Public Private Partnership (PPP). The identified lighthouses are in Gujarat, Maharashtra, Goa, Karnataka, Kerala, Lakshadweep, Tamil Nadu, Puducherry, Andhra Pradesh, Odisha, West Bengal and Andaman and Nicobar Islands. The GOI has kick started the ‘lighthouse tourism’ project by inviting initial qualification bids to develop eight lighthouses in the first phase, at a cost of INR 128 crore, under the public-private-partnership model for 7 lighthouses.

The goal of the revamped Swadesh Darshan 2.0 Scheme is to develop sustainable and responsible tourism destinations in the country. The scheme is aimed at 360-degree holistic development with a focus on increasing self-employment, youth skilling, private sector investments, and preserving local cultures.

The strategic objectives of the Scheme are: (i) To enhance the contribution of tourism to the local economies (ii) To create jobs including self-employment for local communities (iii) To enhance the skills of local youth in tourism and hospitality (iv) To increase private sector investment in tourism and hospitality (v) To preserve and enhance the local cultural and natural resources  

Pilgrimage Rejuvenation and Spiritual, Heritage Augmentation Drive (PRASHAD) scheme focuses on developing and identifying pilgrimage sites across India for enriching the religious tourism experience. It aims to integrate pilgrimage destinations in a prioritised, planned and sustainable manner to provide a complete religious tourism experience. As on date, total number of destinations/sites identified for development under the scheme at present are 68 in 30 states/UTs.

Market Research

Annual report 2022-23 | ministry of tourism, india tourism statistics at a glance 2022, union budget 2023-24: analysis report, economic survey 2022-23, global innovation index 2022, government ministry/department.

• Indian Institute of Tourism and Travel Management
• India Tourism Development Corporation
• Institute of Hotel Management
• Ministry of Tourism, Government of India
• National Medical and Wellness Tourism Board
• National Council for Hotel Management and Catering Technology

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• Association of Tourism Trade Organizations, India
• Adventure Tour Operators Association of India
• Federation of Hotel & Restaurants Associations of India
• Hotel Association of India
• Indian Association of Tour Operators
• Indian Exhibition Industry Association
• Indian Heritage Hotels Association
• National Restaurant Association of India
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Cruise Tourism Market

An Analysis of the Cruise Tourism Market by Adventure Cruises, Classic Cruises, Luxury Cruises, River Cruises, and Others

Cruise tourism is becoming increasingly popular since it is an opulent mode of transportation that incorporates an all-inclusive vacation aboard a ship for at least 24 hours.

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Cruise Tourism Market Snapshot (2023 to 2033)

The cruise tourism industry held a market worth of US$ 5.3 billion in 2022, and it is anticipated that it will reach a market value of US$ 17.8 billion by 2033, growing at a CAGR of 12.1% from 2023 to 2033.

Cruise tourism is a huge business industry, according to a certain study, prior to the COVID-19 pandemic in 2020; the cruise industry across the world hosted 29.7 billion passengers. This generated jobs for nearly 1.8 billion individuals across the globe and gave approximately US$ 150 billion to the world’s economy.

The cruise tourism market has become the swiftest growing segment in the entire travel industry across the globe and there is plenty of variety of cruises on offer these days. Cruise tourism is fundamentally a form of enclave tourism, and it incorporates all the aspects of the tourism industry such as transportation, accommodation, attractions, and hospitality

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Cruise Tourism Market Historical Analysis (2018 to 2022) Vs. Forecast Outlook (2023 to 2033)

The global demand for cruise tourism market is projected to increase at a CAGR over 12% during the forecast period between 2023 and 2033, reaching a total of US$ 4.6 billion in 2018, according to a report from Future Market Insights (FMI). From 2018 to 2022, sales witnessed significant growth in the global cruise tourism Market, registering a CAGR of 8.3%.

The global cruise tourism market is said to grow exponentially during the forecast period due to the increasing disposable income of individuals along with the latest development in the cruises’ facilities and offers onboard.

More pioneering services, themes, amenities, etc., that are offered in many cruise liners nowadays are anticipated to propel the demand for the cruise tourism market during the forecast period. Several cruise companies these days are offering services such as in-room spa treatments, skydiving simulators, adventurous activities, water coasters, etc., these activities are said to attract tourists and are anticipated to escalate the share of footfalls in the future.

What is primarily driving the Global Market for Cruise Tourism Market?

Remarkable Expansion of the Cruise Industry in Emerging Areas

One of the key aspects influencing the cruise tourism business is the expanding cruise industry. Several businesses are emerging, offering a range of amenities to draw clients to meet the need for maritime cross-border travel. The infographic claims that in December 2022, 239 ships entered commercial service, a 15-fold increase over December 2021.

The top 10 cruise brands account for 105 of the 239 cruise vessels that will depart in December. MSC Cruises, having 13 active ships along with 50,326 beds, is ranked first on the list, followed by Carnival Cruise Line having 17 ships along with 54,364 berths, and Royal Caribbean International having 20 sailing ships along with 71,800 berths. Immense growth in the sector as these is anticipated to open up new opportunities in the market in the years to come.

Others Factors that can have a Positive Impact on the Growth Curve

There is an increasing demand for cruise tours amongst individuals of all age groups, as there are multiple fun activities for every age group. New inventive ships are being launched with the latest technologies coupled with more onboard fun for travelers to attract larger crowd. These factors positively impact the cruise tourism market growth.

A sudden increase in the popularity of cruise tourism in emerging countries is anticipated to generate robust opportunities for all cruise service providers worldwide during the forecast period. Several cruise companies are planning to expand their business in these regions in order to capture untapped markets of developing economies. These companies launch exclusive offers and attractive discounts to drive the sales of their cruise businesses.

The cruise tourism sectors’ trends are significant as they are said to experience complete power go-ahead mode distinguished by trends such as group-oriented cruises, advancements in cruise ships, generating novel experiences, culinary delights, etc.

One of the largest growing sectors in the tourism industry is the cruise industry. Even during the time of economic recession in the 2000s, the cruise industry steadily grew. The demand for cruise tourism continues to expand and growth into new destinations. There is a considerable increase in repositioning cruises, meaning moving a cruise ship from one destination to another. The tourists’ interest in such repositioning inculcates exploration of new destinations and their price advantage as compared to regular cruising. Cruising is extremely popular across all generations, it is no longer meant just for the adult population.

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What can hinder the Growth of the Global Cruise Tourism Market?

Severe Weather Conditions may have a Serious Impact on the Market

The cruise tourism segment is inspired by several macroeconomic factors, i.e., the consumer’s sureness is affected by the financial crisis. There are many natural disasters that cannot be controlled by us, humans. These factors pose a threat to the global cruise tourism market. A possible reason which affects the growth of this market is the presence of pirates in the Gulf of Aden and several other areas.

Another crucial factor that affects the cruise tourism market is the condition of the crew members. Passengers are given best privileges and facilities at the crew members’ expense. This leads to low social security, and low salaries for the crew onboard a cruise ship.

Category-wise Insights

Which tourism type is likely to gain traction during the forecast period.

River Cruises are anticipated to hold a Significant Market Share in 2023

In 2022, the river cruises segment by tourism type was estimated to hold over 35% market share. It is projected that river cruising, which allows passengers to take in the landscape along the banks, would have a beneficial effect on the market during the course of the projection period.

Onboard features on river cruises are many. Staterooms are often river-facing and have hotel-style beds, private bathrooms, refrigerators, individual climate controls, safes, and TVs. Higher cabin grades may have French balconies, verandas, and separate bedroom and sitting rooms. A room can range in size from 150 to 600 square feet. The crew members onboard deliver exceptional, customized service to visitors. Additionally, ships provide free WiFi, eating options, pubs, and lounges. There are stores, sun decks, swimming pools, and libraries on certain ships. The aforementioned amenities draw a sizable number of visitors, fueling the market expansion of the river cruise segment.

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Comparative View of the Adjacent Markets

Cruise Tourism Market:

Alaskan Cruises Market:

European Cruises Market:

Region-wise Analysis

What is likely to drive the sales in the north american market for cruise tourism.

Rising Middle-Class Families to Boost the Sales in the Cruise Tourism Market

In the global cruise tourism market, North America is responsible for the dominant market share owing to the luxury taste of the population and the constantly increasing economy. The North American region is likely to hold a 33.5% market share of the global cruise tourism market.

Increasingly more people are choosing to cruise as a holiday choice in North America. The ease, comfort, and elegance of cruising have drawn a lot of interest, which has helped the sector expand. The baby boomer group is prevalent in North America, and they are more likely than younger generations to go on cruises. Demand has also been boosted by the increasing middle class families in North America, which has increased the number of individuals who can afford to go on cruises. Cruise ships can visit a variety of locations in North America, including the Caribbean, Alaska, Mexico, and Canada.

What can be expected from the European Market for Cruise Tourism from 2023 to 2033?

Rising Cases of River Cruising along with Increased Cruise Capacity to Boost Growth

In 2022, the European market cruise tourism was estimated to have acquired a 28.9% revenue share. Europe’s low market penetration strategy renders several opportunities for ship cruising. In Europe, countries like Ireland and the United Kingdom are the two biggest source markets for cruises. Spain, France, and Italy are also some of the other large source markets in Europe.

The cruise tourism market will be expanding at a considerable rate during the forecast period owing to the rise in river cruising in this region. The Netherlands has portrayed rising demand for cruise ships due to more interest in people. Every year, the river cruises segment is growing exponentially, especially in Germany. The capacity of the passengers on the main European rivers is also increasing, with the emergence of new operators while the existing operators regularly renovate or expand their fleets by constructing next-generation boats.

Market Competition

The key players in this market include:

• AmaWaterways LLC
• Ambassador Cruise Holidays Ltd.
• American Cruise Lines, Carnival Corp., and Plc
• Compagnie du Ponant
• Cosmos Tours Ltd.
• Genting Hong Kong Ltd.
• Kerala Shipping and Inland Navigation Corp. Ltd.
• LaVista Travel
• MSC Mediterranean Shipping Co. SA
• Norwegian Cruise Line Holdings Ltd.

Key players operating the cruise tourism market are adopting innovative growth strategies and some of the key developments in the cruise tourism market are:

• In March 2019, Italian shipbuilding giant Fincantieri launched the Costa Venezia, a massive new cruise ship with a capacity of over 5,200 guests. With 135,500 tons and 323 meters in length, the Costa Venezia will be the largest-ever ship introduced by Costa to the Chinese market.
• In June 2022, Carnival Corp.’s Carnival Cruise Line collaborated with Costa Cruises, which is Italy’s favorite cruise line by creating a novel concept for Carnival’s North American guests when COSTA® by CARNIVAL® debuts in the spring of 2023 and Costa Venezia TM joins the Carnival fleet sailing from New York. Costa Venezia will be followed by Costa Firenze TM arriving in the spring of 2024 to sail from Long Beach.
• In November 2022, the prestigious Ganga Vilas project in India was unveiled. It calls for the launch of a cruise service with a 4,000-kilometer travel route. Starting in 2023, the luxury vessel will travel from Varanasi in Uttar Pradesh via Dibrugarh in Assam through Bangladesh.
• In 2022, the India-based business Cordelia Cruises said that it would spend more than US$ 1 billion by 2025 to buy at least three cruise ships in order to focus on the Indian market, which boasts the third-longest coastline in the world at 7,500 km. The government's prediction of a 10-fold increase in the sector over the following ten years is consistent with Cordelia Brand's optimistic view.

Report Scope

Key segments profiled in the cruise tourism market, by cruise type:.

• Adventure Cruises
• Classic Cruises
• Luxury Cruises
• River Cruises

By Tourist Type:

• Independent Traveller
• Package Traveller
• North America
• Latin America
• Western Europe
• Eastern Europe
• South Asia and Pacific
• Middle East and Africa

Frequently Asked Questions

How big is the cruise tourism market.

The market is valued at US$ 7.1 billion in 2023.

Who are the Key Cruise Tourism Market Players?

Carnival Corporation, Royal Caribbean Group, and MSC Cruises are key market players.

Which are the Key Asian Countries in the Cruise Tourism Market?

India, Japan, and China dominate the Asian market.

How Big Will the Cruise Tourism Market by 2033?

The market is estimated to reach US$ 17.8 billion by 2033.

Which Region holds high Lucrativeness?

North America is projected to emerge as a lucrative market.

Table of Content

List of tables, list of charts.

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Tourism leaders from around the world will explore how entrepreneurship and innovation are transforming the global travel sector at atm 2024.

In Arabian Travel Market , Arabian Travel Market , Press Releases .

• Arabian Travel Market 2024 will take place from 6-9 May at DWTC, with the theme: ‘Empowering Innovation: Transforming Travel Through Entrepreneurship’
• The sold-out Travel Tech space at this year’s edition of ATM will be 56% larger than in 2023, with sector participation growing by a third, year on year
• ATM 2024 will host over 200 speakers across more than 50 sessions, covering the full spectrum of industry from tourism and hospitality to aviation and MICE

Dubai, United Arab Emirates, 18 April 2024: International policymakers and industry leaders are preparing to gather in the UAE for Arabian Travel Market (ATM) 2024 , where they will examine how entrepreneurship and innovation are reshaping the global tourism industry. The 31 st edition of the exhibition will take place at Dubai World Trade Centre (DWTC) from Monday 6 to Thursday 9 May.

Over 200 speakers will participate in more than 50 sessions during the course of the four-day event. Experts from around the world will take to ATM’s Global Stage and Future Stage (formerly the Travel Tech Stage) to address some of the sector’s most pressing issues, including the growing role of artificial intelligence (AI), the future of aviation, how to stand out in the luxury segment, retail tourism, and sustainable travel.

As the Middle East’s leading exhibition for inbound and outbound travel and tourism professionals, ATM 2024 will build on last year’s record-breaking 30 th edition with its theme: ‘ Empowering Innovation: Transforming Travel Through Entrepreneurship ’. Exhibitors and attendees will have the chance to explore new market opportunities, the benefits of collaboration and connectivity, how to attract investment and more.

Danielle Curtis , Exhibition Director ME, Arabian Travel Market, said: “The future of the global travel industry will be shaped by innovators and entrepreneurs, which is why we are so excited to shine a spotlight on the latest insights and technologies at ATM 2024. From startups to established brands, this year’s exhibition will showcase fresh thinking on how the sector can enhance customer experiences, drive efficiency and deliver positive economic impacts across the Middle East and beyond.”

Exhibitor participation is expected to be 23% higher than last year, making ATM 2024 the largest edition in the event’s history. Growth is expected across all show verticals, including regional year-on-year upticks for the Middle East (19% larger), Europe (32% larger), Asia (20% larger) and Africa (28% larger). The exhibition’s sold-out Travel Tech space will be 56% greater on the show floor, with products from the sector demonstrating 33% growth year on year. Hotel participation, meanwhile, is projected to be 21% higher than last year.

This year’s edition will once again enable attendees to move beyond traditional leisure travel by exploring opportunities related to luxury, business, and meetings, incentives, conferences and exhibitions (MICE). ATM 2024 will feature an array of discussions on these subjects, including sessions dedicated to premium offerings , healthcare meetings , global business travel , sustainable procurement , sporting events and more.

ATM 2024 will host a selection of regional and international policymakers, including His Excellency Issam Kazim, CEO, Dubai Corporation for Tourism and Commerce Marketing (DCTCM), His Excellency Salem bin Mohammed Al Mahrouqi, Minister of Heritage and Tourism in Oman; Teodora Marinska, Head of Public Affairs, European Travel Commission; Basmah Al-Mayman, Regional Director, Middle East at the United Nations World Tourism Organization (UNWTO); and Lindsay Bowman Fraser, Leading Meetings, Incentives, Conferences, Exhibitions (MICE), Sport and eSport, Qatar Tourism.

Speakers at ATM 2024 will explore a series of emerging and established market segments, such as experiential, accessible and multi-generational travel, highlighting opportunities for growth, transformation and disruption. Delegates will also consider the implications of advancements in fields such as AI and how these technologies are impacting the Middle East’s travel industry.

“With less than a month to go before the international travel community converges on Dubai, we are looking forward to welcoming our biggest-ever cohort of exhibitors and guest speakers,” Curtis added. “For more than 30 years, ATM has provided a forum in which participants can share insights, overcome challenges and seize opportunities, and the 2024 edition will be no exception.”

Building on ATM 2023’s ‘ Working Towards Net Zero ’ theme, environmentally responsible travel will represent another key focus this year. Informed by the UAE’s Year of Sustainability and the most recent United Nations Climate Change Conference (COP28), which took place in Dubai last year, ATM 2024 will explore how innovation can be leveraged to help achieve the UN Sustainable Development Goals (SDGs), creating a greener travel and tourism sector for future generations.

Held in conjunction with Dubai World Trade Centre, ATM 2024’s strategic partners include Dubai’s Department of Economy and Tourism (DET) as Destination Partner, Emirates as Official Airline Partner, IHG Hotels & Resorts as Official Hotel Partner, and Al Rais Travel as Official DMC Partner.

The latest ATM news stories are available at https://hub.wtm.com/category/press/atm-press-releases/ .

To register your interest in attending ATM 2024 or to submit a stand enquiry, visit https://www.wtm.com/atm/en-gb/enquire.html .

For more information, log on to wtm.com/atm/en-gb.html .

Arabian Travel Market (ATM) , now in its 31 st year, is the leading international travel and tourism event in the Middle East for inbound and outbound tourism professionals. ATM 2023 welcomed over 40,000 attendees and hosted over 30,000 visitors, including more than 2,100 exhibitors and representatives from over 150 countries, across ten halls at Dubai World Trade Centre. Arabian Travel Market is part of Arabian Travel Week. #ATMDubai

Next in-person event: 6 to 9 May 2024, Dubai World Trade Centre, Dubai.

https://www.wtm.com/atm/en-gb.html

Arabian Travel Week is a festival of events from 6 to 12 May, within and alongside Arabian Travel Market 2024. Providing a renewed focus for the Middle East’s travel and tourism sector, it includes Influencers’ events, GBTA Business Travel Forums, as well as ATM Travel Tech. It also features the ATM Buyer Forums, as well as a series of country forums.

https://www.wtm.com/arabian-travel-week/en-gb.html

About RX (Reed Exhibitions)

RX is in the business of building businesses for individuals, communities and organisations. We elevate the power of face-to-face events by combining data and digital products to help customers learn about markets, source products and complete transactions at approximately 400 events in 22 countries across 42 industry sectors. RX is passionate about making a positive impact on society and is fully committed to creating an inclusive work environment for all our people. RX is part of RELX, a global provider of information-based analytics and decision tools for professional and business customers. www.rxglobal.com

RELX is a global provider of information-based analytics and decision tools for professional and business customers. RELX serves customers in more than 180 countries and has offices in about 40 countries. It employs more than 35,000 people, over 40% of whom are in North America. The shares of RELX PLC, the parent company, are traded on the London, Amsterdam and New York Stock Exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RELX.

*Note: Current market capitalisation can be found at http://www.relx.com/investors

World Travel Market (WTM) portfolio comprises leading travel events and online portals across four continents. The events are:

WTM London is the world’s most influential travel & tourism event for the global travel community. The show is the ultimate destination for those seeking a macro view of the travel industry and a deeper understanding of the forces shaping it. WTM London is where influential travel leaders, buyers and high-profile travel companies gather to exchange ideas, drive innovation, and accelerate business outcomes.

Next live event: 6 to 8 November 2023 at ExCel London.

http://london.wtm.com/

WTM Latin America takes place annually in the city of São Paulo and attracts around 20,000 tourism professionals during the three-day event. The event offers qualified content together with networking and business opportunities. In this its ninth edition – there have been eight face-to-face events along with a 100% virtual one, which was held in 2021 – WTM Latin America continued to focus on effective business generation, and achieved the advance booking of six thousand meetings that were held between buyers, travel agents and exhibitors in 2022.

Latest event: 15 to 17 April 2024 – Expo Center Norte, SP, Brazil.

http://latinamerica.wtm.com/

WTM Africa  launched in 2014 in Cape Town, South Africa. In 2022, WTM Africa facilitated more than 7 thousand unique pre-scheduled appointments, an increase of more than 7% compared to 2019 and welcomed more than 6 thousand visitors (unaudited), the same number as in 2019.

Next event: 9 to 11 April 2025 – Cape Town International Convention Centre, Cape Town  http://africa.wtm.com/

About ATW Connect :   Africa Travel Week’s digital arm, is a virtual hub packed to the seams with interesting content, industry news and insights, and the opportunity to hear from experts on a variety of topics in our new monthly webinar series. All with the aim to keep all of us in the travel and tourism industry connected. ATW Connect focuses on inbound and outbound markets for general leisure tourism, luxury travel and the MICE/business travel sector as well as travel technology.

Africa Travel Week

WTM Global Hub,  is the WTM Portfolio online portal created to connect and support travel industry professionals around the world. The resource hub offers the latest guidance and knowledge to help exhibitors, buyers and others in the travel industry face the challenges of the global coronavirus pandemic. WTM Portfolio is tapping into its global network of experts to create content for the hub.  https://hub.wtm.com/

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Online travel market - statistics & facts

How big is the online travel market, what are the leading online travel agencies (otas), what travel products do consumers book online, key insights.

Detailed statistics

Online travel market size worldwide 2017-2028

Distribution of sales channels in the travel and tourism market worldwide 2018-2028

Most popular travel and tourism websites worldwide 2024

Editor’s Picks Current statistics on this topic

Current statistics on this topic.

Online Travel Market

Market cap of leading online travel companies worldwide 2023

Related topics

Online travel trends.

• Artificial intelligence (AI) use in travel and tourism
• Mobile travel trends
• Digitalization of the travel industry
• Impact of technology on travel and tourism

Online travel companies

• Booking Holdings Inc.
• Expedia Group, Inc.

Trip.com Group

Tripadvisor, travel and tourism worldwide.

• Tourism worldwide
• Travel agency industry
• Hotel industry worldwide
• Cruise industry worldwide

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Industry overview.

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Market size of the tourism sector worldwide 2011-2024

Market size of the tourism sector worldwide from 2011 to 2023, with a forecast for 2024 (in trillion U.S. dollars)

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Revenue of the global travel and tourism market from 2019 to 2028, by segment (in billion U.S. dollars)

Revenue share of sales channels of the travel and tourism market worldwide from 2018 to 2028

Online travel market size worldwide from 2017 to 2023, with a forecast until 2028 (in billion U.S. dollars)

Revenue of the travel apps industry worldwide 2017-2027

Revenue of the travel apps market worldwide from 2017 to 2027 (in billion U.S. dollars)

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Forecast enterprise value to revenue (EV/Revenue) ratio in the online travel market worldwide in 2024, by segment

Forecast EV/EBITDA ratio in the online travel market 2024, by segment

Forecast enterprise value to EBITDA (EV/EBITDA) ratio in the online travel market worldwide in 2024, by segment

Online bookings

• Premium Statistic Travel product online bookings in the U.S. 2023
• Premium Statistic Travel product online bookings in Canada 2023
• Premium Statistic Travel product online bookings in the UK 2023
• Premium Statistic Travel product online bookings in China 2023
• Premium Statistic Travel product online bookings in India 2023
• Premium Statistic Importance to book a trip fully online among travelers worldwide 2023, by generation

Travel product online bookings in the U.S. 2023

Travel product online bookings in the U.S. as of December 2023

Travel product online bookings in Canada 2023

Travel product online bookings in Canada as of December 2023

Travel product online bookings in the UK 2023

Travel product online bookings in the UK as of December 2023

Travel product online bookings in China 2023

Travel product online bookings in China as of December 2023

Travel product online bookings in India 2023

Travel product online bookings in India as of December 2023

Importance to book a trip fully online among travelers worldwide 2023, by generation

Share of travelers who think it is important to be able to book their trip entirely online worldwide as of July 2023, by generation

Market leaders

• Premium Statistic Revenue of leading OTAs worldwide 2019-2022
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• Premium Statistic Marketing/revenue ratio of leading OTAs worldwide 2019-2022
• Premium Statistic Number of employees at leading travel companies worldwide 2022
• Basic Statistic Market cap of leading online travel companies worldwide 2023
• Premium Statistic Number of aggregated downloads of leading online travel agency apps worldwide 2023
• Premium Statistic Most popular travel and tourism websites worldwide 2024

Revenue of leading OTAs worldwide 2019-2022

Leading online travel agencies (OTAs) worldwide from 2019 to 2022, by revenue (in million U.S. dollars)

Marketing expenses of leading OTAs worldwide 2019-2022

Marketing expenses of leading online travel agencies (OTAs) worldwide from 2019 to 2022 (in million U.S. dollars)

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Marketing to revenue ratio of leading online travel agencies (OTAs) worldwide from 2019 to 2022

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Number of employees at selected leading travel companies worldwide in 2022

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Number of aggregated downloads of leading online travel agency apps worldwide 2023

Number of aggregated downloads of selected leading online travel agency apps worldwide in 2023 (in millions)

Most visited travel and tourism websites worldwide as of April 2024 (in million visits)

Booking Holdings

• Basic Statistic Revenue of Booking Holdings worldwide 2007-2023
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• Premium Statistic Operating income of Booking Holdings worldwide 2007-2023
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Revenue of Booking Holdings worldwide 2007-2023

Revenue of Booking Holdings worldwide from 2007 to 2023 (in billion U.S. dollars)

Number of bookings through Booking Holdings worldwide 2010-2023, by segment

Number of bookings through Booking Holdings worldwide from 2010 to 2023, by business segment (in millions)

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Operating income of Booking Holdings worldwide from 2007 to 2023 (in billion U.S. dollars)

Net income of Booking Holdings worldwide 2007-2023

Net income of Booking Holdings worldwide from 2007 to 2023 (in billion U.S. dollars)

Expedia Group

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Revenue of Expedia Group, Inc. worldwide 2017-2023, by business model

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Net income of Expedia Group, Inc. worldwide from 2007 to 2023 (in million U.S. dollars)

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Airbnb revenue worldwide 2017-2023

Revenue of Airbnb worldwide from 2017 to 2023 (in billion U.S. dollars)

Airbnb revenue worldwide 2019-2023, by region

Revenue of Airbnb worldwide from 2019 to 2023, by region (in billion U.S. dollars)

Airbnb operations income worldwide 2017-2023

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• Premium Statistic Total revenue of Trip.com Group 2012-2022
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• Premium Statistic Net profit of Trip.com 2012-2022

Total revenue of Trip.com Group 2012-2022

Total revenue of Trip.com Group Ltd. in China from 2012 to 2022 (in billion yuan)

Revenue of Trip.com 2012-2022, by product

Revenue of Trip.com Group Ltd. from 2012 to 2022, by product (in million yuan)

Revenue of Trip.com 2017-2022, by region

Revenue of Trip.com Group Ltd. from 2017 to 2022, by region (in million yuan)

Net profit of Trip.com 2012-2022

Net profit of Trip.com Group Ltd. from 2012 to 2022 (in million yuan)

• Premium Statistic Revenue of Tripadvisor worldwide 2008-2023
• Premium Statistic Revenue of Tripadvisor worldwide 2017-2023, by business segment
• Premium Statistic Revenue of Tripadvisor worldwide 2012-2023, by region
• Premium Statistic Operating income of Tripadvisor worldwide 2008-2023
• Premium Statistic Net income of Tripadvisor worldwide 2008-2023

Revenue of Tripadvisor worldwide 2008-2023

Revenue of Tripadvisor, Inc. worldwide from 2008 to 2023 (in million U.S. dollars)

Revenue of Tripadvisor worldwide 2017-2023, by business segment

Revenue of Tripadvisor, Inc. worldwide from 2017 to 2023, by business segment (in million U.S. dollars)

Revenue of Tripadvisor worldwide 2012-2023, by region

Revenue of Tripadvisor, Inc. worldwide from 2012 to 2023, by region (in million U.S. dollars)

Operating income of Tripadvisor worldwide 2008-2023

Operating income of Tripadvisor, Inc. worldwide from 2008 to 2023 (in million U.S. dollars)

Net income of Tripadvisor worldwide 2008-2023

Net income of Tripadvisor, Inc. worldwide from 2008 to 2023 (in million U.S. dollars)

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