Reports
Global Leisure Travel Market Size, Share, Report: By Traveller Type: Solo, Group; By Sales Channel: Conventional Channel, Online Channel; By Age Groups: Baby Boomers, Generation X, Millennials, Generation Z; By Expenditure Type: Lodging, Transportation, Food and Beverage, Others; Regional Analysis; Competitive Landscape; 2024-2032
Global Leisure Travel Market Outlook
The global leisure travel market stood at a value of around USD 1.23 trillion in 2023. The market is further expected to grow at a CAGR of 7% in the forecast period of 2024-2032 to attain USD 1.84 trillion by 2032.
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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.
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: Market 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.
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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.
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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 | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| 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, 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. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR 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 Opportunities and Challenges in the Market
8 Global Leisure Travel Market Analysis
8.1 Key Industry Highlights
8.2 Global Leisure Travel Historical Market (2018-2023)
8.3 Global Leisure Travel Market Forecast (2024-2032)
8.4 Global Leisure Travel Market by Traveller Type
8.4.1 Solo
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Group
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Global Leisure Travel Market by Sales Channel
8.5.1 Conventional Channel
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Online Channel
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.6 Global Leisure Travel Market by Age Groups
8.6.1 Baby Boomers
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Generation X
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Millennials
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Generation Z
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.7 Global Leisure Travel Market by Expenditure Type
8.7.1 Lodging
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Transportation
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Food and Beverage
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Event and Entertainment
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Others
8.8 Global Leisure Travel Market by Region
8.8.1 North America
8.8.1.1 Historical Trend (2018-2023)
8.8.1.2 Forecast Trend (2024-2032)
8.8.2 Europe
8.8.2.1 Historical Trend (2018-2023)
8.8.2.2 Forecast Trend (2024-2032)
8.8.3 Asia Pacific
8.8.3.1 Historical Trend (2018-2023)
8.8.3.2 Forecast Trend (2024-2032)
8.8.4 Latin America
8.8.4.1 Historical Trend (2018-2023)
8.8.4.2 Forecast Trend (2024-2032)
8.8.5 Middle East and Africa
8.8.5.1 Historical Trend (2018-2023)
8.8.5.2 Forecast Trend (2024-2032)
9 North America Leisure Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Leisure Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Leisure Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Leisure Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Leisure Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 JTB USA Inc.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Expedia Group, Inc.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Cox & Kings Ltd.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 CWT Global B.V.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 American Express Company
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Travel Leaders Group
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 TUI AG
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Leisure Travel Market: Key Industry Highlights, 2018 and 2032
2. Global Leisure Travel Historical Market: Breakup by Traveler Type (USD Trillion), 2018-2023
3. Global Leisure Travel Market Forecast: Breakup by Traveler Type (USD Trillion), 2024-2032
4. Global Leisure Travel Historical Market: Breakup by Sales Channel (USD Trillion), 2018-2023
5. Global Leisure Travel Market Forecast: Breakup by Sales Channel (USD Trillion), 2024-2032
6. Global Leisure Travel Historical Market: Breakup by Age Groups (USD Trillion), 2018-2023
7. Global Leisure Travel Market Forecast: Breakup by Age Groups (USD Trillion), 2024-2032
8. Global Leisure Travel Historical Market: Breakup by Expenditure Type (USD Trillion), 2018-2023
9. Global Leisure Travel Market Forecast: Breakup by Expenditure Type (USD Trillion), 2024-2032
10. Global Leisure Travel Historical Market: Breakup by Region (USD Trillion), 2018-2023
11. Global Leisure Travel Market Forecast: Breakup by Region (USD Trillion), 2024-2032
12. North America Leisure Travel Historical Market: Breakup by Country (USD Trillion), 2018-2023
13. North America Leisure Travel Market Forecast: Breakup by Country (USD Trillion), 2024-2032
14. Europe Leisure Travel Historical Market: Breakup by Country (USD Trillion), 2018-2023
15. Europe Leisure Travel Market Forecast: Breakup by Country (USD Trillion), 2024-2032
16. Asia Pacific Leisure Travel Historical Market: Breakup by Country (USD Trillion), 2018-2023
17. Asia Pacific Leisure Travel Market Forecast: Breakup by Country (USD Trillion), 2024-2032
18. Latin America Leisure Travel Historical Market: Breakup by Country (USD Trillion), 2018-2023
19. Latin America Leisure Travel Market Forecast: Breakup by Country (USD Trillion), 2024-2032
20. Middle East and Africa Leisure Travel Historical Market: Breakup by Country (USD Trillion), 2018-2023
21. Middle East and Africa Leisure Travel Market Forecast: Breakup by Country (USD Trillion), 2024-2032
22. Global Leisure Travel Market Structure
Key Questions Answered in the Report
In 2023, the market attained a value of approximately USD 1.23 trillion.
The market is projected to grow at a CAGR of 7% between 2024 and 2032.
The major drivers of the market include globalisation, rapid implementation of technical innovations and IoT, increasing consumer demand for convenient services, and the rising penetration of smartphones.
The key trends propelling the market forward are the rising investments by various governments in the tourism industry and increasingly stressful lifestyles led by people which are encouraging more people to travel for leisure.
The major regions in the market are North America, Latin America, Europe, Middle East and Africa, and the Asia Pacific.
The leading traveller types include solo and group.
The dominant types of sales channels in the market include conventional channel and online channel.
The different age groups in the market include baby boomers, generation X, millennials, and generation Z.
The various expenditure types include lodging, transportation, food and beverage, event and entertainment, among others.
The key players in the global leisure travel market are JTB USA Inc., Expedia Group, Inc., Cox & Kings Ltd., CWT Global B.V., American Express Company, Travel Leaders Group, and TUI AG, among others.
Analyst Review
The global leisure travel market attained a value of USD 1.23 trillion in 2023, driven by rapid digitisation and globalisation. Aided by increasing government and private investments in the tourism industry and increased use of AI and cloud-based services, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 7%.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its traveller types, the global leisure travel industry can be segmented into solo and group. By sales channel, the industry is divided into the conventional channel and online channel, with online accounting for the largest market share. The division by age group includes baby boomers, generation X, millennials, and generation Z. On the basis of expenditure type, lodging, transportation, food and beverage, event and entertainment, among others are the major segments. The major regional markets for the leisure travel are North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific, with the Asia Pacific accounting for the largest share of the market. The key players in the above market include JTB USA Inc., Expedia Group, Inc., Cox & Kings Ltd., CWT Global B.V., American Express Company, Travel Leaders Group, and TUI AG, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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