Leisure Travel Market

Global Leisure Travel Market Size (2024-2032):

The Global Leisure Travel Market size is estimated at US$ 1475 billion in 2023 to reach a valuation of US$ 8779 billion by 2032 from US$ 1798.32 billion in 2024 with a compound annual growth rate (CAGR) of 21.92% during the forecast period of 2024 - 2032. 

Leisure travel is comprised of various sub-industries that make up the various aspects of traveling for pleasure or leisure, which includes transportation and lodging as well as any reservations and packages for tours and other entertainment and recreation activities.

MARKET DRIVERS

The rise in disposable income is one of the major driving factors of the Leisure Travel market growth rate.

Another major driving factor of the Leisure Travel market was a rise in digitalization, informatization, and the upgradation of globalization. Expansion of logistics & infrastructure, rigorous promotion & advertising of tourism by governments are some of the growth-supporting factors of the market Leisure Travel revenue rate. Another major growth driving factor of the Leisure Travel market was the rapid development of global outbound tourism. Deployment of technologies such as artificial intelligence, big data analytics, and the Internet Of Things are some of the growth-supporting factors that boost the growth of the market of Leisure Travel.

MARKET RESTRAINTS

Regulations imposed by the government authorities due to the COVID-19 pandemic are one of the major restraints that hinder the growth of the Leisure Travel Market. Another major restraint that is affecting the growth of the market of Leisure Travel is the competition from various tourism companies.

REPORT COVERAGE

SEGMENT ANALYSIS

Global Leisure Travel Market Analysis By Traveler Type

The solo traveler type segment holds the major share of the market among the others due to the increase of people who are exploring more in most countries.

Global Leisure Travel Market Analysis By Sales Channel

The online segments hold the major share of the market owing to the growth in demand for online sales channels across the globe.

Global Leisure Travel Market Analysis By Age Group

The Millenials hold the major share of the market as they are getting more popular among people across the world.

REGIONAL ANALYSIS

Asia Pacific region holds the major share of the market due to the rapid development of global outbound tourism is also a major driving factor that helps the growth of the market of Leisure Travel in the Europe region. Furthermore, increasing investments and development in some of the emerging economies such as India, China, and Australia to promote tourism for their respective countries are also some of the major driving factors that propel the growth of the market for Leisure Travel in the Asia Pacific region.

North American region holds the second largest share of the market of Leisure Travel owing to the increase in disposable income and a growing number of people who are more interested in traveling are some of the factors that are helping the market of Leisure Travel to grow further in the North America region.

The Europe region is expected to increase the market value of Leisure Travel owing to the rising investment as well as awareness by the government authorities to improve traveling propels the growth of the market in the Europe region.

KEY PLAYERS IN THE GLOBAL LEISURE TRAVEL MARKET

Companies playing a prominent role in the global leisure travel market include Thomas Cook Limited (India),  Carlson Wagonlit Travel, JTB Americas Group, World Travel, Inc., American Express Travel, Expedia Group, Priceline Group, Travel Leaders Group, TUI Group, Cox & Kings Ltd, and Others.

DETAILED SEGMENTATION OF THE GLOBAL LEISURE TRAVEL MARKET INCLUDED IN THIS REPORT

This global leisure travel market research report has been segmented and sub-segmented based on traveler type, sales channel, age group, and region.

By Traveler Type

• Solo traveler type
• Group traveler type

By Sales Channel

• Conventional channels
• Online channels

By Age Group

• Baby boomers
• Generation X
• Millennials
• Generation Z

By Region

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