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Global Leisure Travel Market: By Traveller Type: Solo, Group; By Sales Channel: Conventional Channel, Online Channel; By Age Groups: Baby Boomers, Generation X, Millennials, Others; By Expenditure Type; Regional Analysis; Historical Market and Forecast (2016-2026); Market Dynamics: Competitive Landscape; Industry Events and Developments
Global Leisure Travel Market Outlook
The global leisure travel market stood at a value of around USD 1.07 trillion in 2020. The market is further expected to grow at a CAGR of 7% in the forecast period of 2021-2026 to attain USD 1.61 trillion by 2026.
Increasing Preference for Online Bookings and Associated Travel Services to Bolster the Growth of the Global Leisure Travel Industry
Based on sales channel, the online segment is expected to account for a significant share in the global leisure travel industry. This surge can be attributed to the rapid implementation of technical innovations and IoT (Internet of things) solutions in processes such as booking services, among others, which have become significantly easier. The increasing consumer demand for convenient services and the increasing penetration of smart phones, especially in emerging economies, are expected to further bolster the market growth in the forecast period.
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The Asia Pacific Region to Account for a Significant Market Share of the Global Leisure Travel Industry
The Asia Pacific region is expected to account for a significant share of the global leisure travel industry in the forecast period. The region is home to some of the popular tourist locations such as China, India, Thailand, and Malaysia. These countries offer a variety of rich cultural experiences and a variety of recreational and entertainment activities. An important factor contributing to this growth is substantial investments and promotional strategies devised by the governments to strengthen the tourism sector, which is a crucial factor in the development of major economies within the region. However, due to the Covid-19 pandemic, almost all regions were adversely affected in the year 2020.
Leisure Travel: Industry Definition and Segmentation
Leisure travel refers to a vacation undertaken by an individual or a group of individuals for personal enjoyment. These trips help people unwind and relax by taking time off of their busy lives, travelling to popular destinations, and exploring new cultures around the world. The leisure travel industry includes various travel services such as accommodation, transportation, food and beverage, retail, and recreation, among others. It plays a significant role in the growth of many developing economies.
By traveller type, the market is divided into:
- Solo
- Group
Based on sales channel, the industry can be bifurcated into:
- Conventional Channel
- Online Channel
On the basis of age group, the market can be categorised into:
- Baby Boomers
- Generation X
- Millennials
- Generation Z
Based on expenditure type, the industry can be segregated into:
- Lodging
- Transportation
- Food and Beverage
- Event and Entertainment
- Others
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Globalisation and Increasing Digitisation to Drive the Global Leisure Travel Industry
The rapid digitisation and globalisation are the primary factors spurring the growth of the leisure travel industry globally. The increasing investments, both public and private, in the tourism industry as it encompasses other sectors, such as logistics, food and beverage, and transportation, which substantially impact the growth of the overall economy, are expected to aid the market growth. Meanwhile, rapid digitisation with increased usage of AI and cloud-based services allows for the efficient functioning of processes such as online booking, which is leading to an improved user experience and increased productivity.
However, the recent surge of the Covid-19 pandemic has negatively impacted the leisure travel industry and the associated sectors. The nationwide lockdowns and restrictions on travelling have hampered the travel market growth. In a report issued by the UNWTO dated June 2nd, 2021, worldwide international tourist arrivals were recorded to have reduced down to 73% in 2020. Furthermore, Asia and the Pacific remained the worst hit globally, recording a sharp decline of 84% in international arrivals during the same year. Meanwhile, the annual report issued by IATA dated November 2020 notes a strong potential for travelling due to the reduction in restrictions in various parts of the world and increased domestic travel bookings.
Key Industry Players in the Global Leisure Travel Market
The report gives a detailed analysis of the following key players in the global leisure travel market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- JTB USA Inc.
- Expedia Group, Inc.
- Cox & Kings Ltd.
- CWT Global B.V.
- American Express Company
- Travel Leaders Group
- TUI AG
- Others
The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model and SWOT analysis.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2020 |
| Historical Period | 2016-2020 |
| Forecast Period | 2021-2026 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Traveller Type, Sales Channel, Age Groups, Expenditure Type, Region |
| Breakup by Traveller Type | Solo, Group |
| Breakup by Sales Channel | Conventional Channel, Online Channel |
| Breakup by Age Groups | Baby Boomers, Generation X, Millennials, Generation Z |
| Breakup by Expenditure Type | Lodging, Transportation, Food and Beverage, Event and Entertainment, Others |
| Breakup by Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Market Dynamics | SWOT, Porter's Five Forces, EMR’s Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | JTB USA Inc., Expedia Group, Inc., Cox & Kings Ltd., CWT Global B.V., American Express Company, Travel Leaders Group, TUI AG, Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Leisure Travel Market Analysis
8.1 Key Industry Highlights
8.2 Global Leisure Travel Historical Market (2016-2020)
8.3 Global Leisure Travel Market Forecast (2021-2026)
8.4 Global Leisure Travel Market by Traveller Type
8.4.1 Solo
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2016-2020)
8.4.1.3 Forecast Trend (2021-2026)
8.4.2 Group
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2016-2020)
8.4.2.3 Forecast Trend (2021-2026)
8.5 Global Leisure Travel Market by Sales Channel
8.5.1 Conventional Channel
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2016-2020)
8.5.1.3 Forecast Trend (2021-2026)
8.5.2 Online Channel
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2016-2020)
8.5.2.3 Forecast Trend (2021-2026)
8.6 Global Leisure Travel Market by Age Groups
8.6.1 Baby Boomers
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2016-2020)
8.6.1.3 Forecast Trend (2021-2026)
8.6.2 Generation X
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2016-2020)
8.6.2.3 Forecast Trend (2021-2026)
8.6.3 Millennials
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2016-2020)
8.6.3.3 Forecast Trend (2021-2026)
8.6.4 Generation Z
8.6.4.1 Market Share
8.6.4.2 Historical Trend (2016-2020)
8.6.4.3 Forecast Trend (2021-2026)
8.7 Global Leisure Travel Market by Expenditure Type
8.7.1 Lodging
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2016-2020)
8.7.1.3 Forecast Trend (2021-2026)
8.7.2 Transportation
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2016-2020)
8.7.2.3 Forecast Trend (2021-2026)
8.7.3 Food and Beverage
8.7.3.1 Market Share
8.7.3.2 Historical Trend (2016-2020)
8.7.3.3 Forecast Trend (2021-2026)
8.7.4 Event and Entertainment
8.7.4.1 Market Share
8.7.4.2 Historical Trend (2016-2020)
8.7.4.3 Forecast Trend (2021-2026)
8.7.5 Others
8.8 Global Leisure Travel Market by Region
8.8.1 Market Share
8.8.1.1 North America
8.8.1.2 Europe
8.8.1.3 Asia Pacific
8.8.1.4 Latin America
8.8.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2016-2020)
9.1.2 Forecast Trend (2021-2026)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2016-2020)
9.2.2 Forecast Trend (2021-2026)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2016-2020)
9.3.2 Forecast Trend (2021-2026)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2016-2020)
9.4.2 Forecast Trend (2021-2026)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2016-2020)
9.5.2 Forecast Trend (2021-2026)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 EMR’s Key Indicators for Demand
10.4 EMR’s Key Indicators for Price
11 Competitive Landscape
11.1 Market Structure
11.2 Company Profiles
11.2.1 JTB USA Inc.
11.2.1.1 Company Overview
11.2.1.2 Product Portfolio
11.2.1.3 Demographic Reach and Achievements
11.2.1.4 Certifications
11.2.2 Expedia Group, Inc.
11.2.2.1 Company Overview
11.2.2.2 Product Portfolio
11.2.2.3 Demographic Reach and Achievements
11.2.2.4 Certifications
11.2.3 Cox & Kings Ltd.
11.2.3.1 Company Overview
11.2.3.2 Product Portfolio
11.2.3.3 Demographic Reach and Achievements
11.2.3.4 Certifications
11.2.4 CWT Global B.V.
11.2.4.1 Company Overview
11.2.4.2 Product Portfolio
11.2.4.3 Demographic Reach and Achievements
11.2.4.4 Certifications
11.2.5 American Express Company
11.2.5.1 Company Overview
11.2.5.2 Product Portfolio
11.2.5.3 Demographic Reach and Achievements
11.2.5.4 Certifications
11.2.6 Travel Leaders Group
11.2.6.1 Company Overview
11.2.6.2 Product Portfolio
11.2.6.3 Demographic Reach and Achievements
11.2.6.4 Certifications
11.2.7 TUI AG
11.2.7.1 Company Overview
11.2.7.2 Product Portfolio
11.2.7.3 Demographic Reach and Achievements
11.2.7.4 Certifications
11.2.8 Others
12 Industry Events and Developments
List of Figures and Tables
1. Global Leisure Travel Market: Key Industry Highlights, 2016 and 2026
2. Global Leisure Travel Historical Market: Breakup by Traveler Type (USD Trillion), 2016-2020
3. Global Leisure Travel Market Forecast: Breakup by Traveler Type (USD Trillion), 2021-2026
4. Global Leisure Travel Historical Market: Breakup by Sales Channel (USD Trillion), 2016-2020
5. Global Leisure Travel Market Forecast: Breakup by Sales Channel (USD Trillion), 2021-2026
6. Global Leisure Travel Historical Market: Breakup by Age Groups (USD Trillion), 2016-2020
7. Global Leisure Travel Market Forecast: Breakup by Age Groups (USD Trillion), 2021-2026
8. Global Leisure Travel Historical Market: Breakup by Expenditure Type (USD Trillion), 2016-2020
9. Global Leisure Travel Market Forecast: Breakup by Expenditure Type (USD Trillion), 2021-2026
10. Global Leisure Travel Historical Market: Breakup by Region (USD Trillion), 2016-2020
11. Global Leisure Travel Market Forecast: Breakup by Region (USD Trillion), 2021-2026
12. North America Leisure Travel Historical Market: Breakup by Country (USD Trillion), 2016-2020
13. North America Leisure Travel Market Forecast: Breakup by Country (USD Trillion), 2021-2026
14. Europe Leisure Travel Historical Market: Breakup by Country (USD Trillion), 2016-2020
15. Europe Leisure Travel Market Forecast: Breakup by Country (USD Trillion), 2021-2026
16. Asia Pacific Leisure Travel Historical Market: Breakup by Country (USD Trillion), 2016-2020
17. Asia Pacific Leisure Travel Market Forecast: Breakup by Country (USD Trillion), 2021-2026
18. Latin America Leisure Travel Historical Market: Breakup by Country (USD Trillion), 2016-2020
19. Latin America Leisure Travel Market Forecast: Breakup by Country (USD Trillion), 2021-2026
20. Middle East and Africa Leisure Travel Historical Market: Breakup by Country (USD Trillion), 2016-2020
21. Middle East and Africa Leisure Travel Market Forecast: Breakup by Country (USD Trillion), 2021-2026
22. Global Leisure Travel Market Structure
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