Travel and Tourism Market Travel and Tourism Market (Travel Days: Within 7 Days, 7-15 Days, More than 15 Days; Travel Type: Leisure Spendin Analysis, Size, Share, Growth, Trends, and Forecast, 2022-2031
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Travel and Tourism Market Outlook 2031 The global travel and tourism market was valued at US$ 4.06 Bn in 2021 It is estimated to advance at a CAGR of 15.5% from 2022 to 2031 The global travel and tourism market is expected to reach US$ 16.20 Bn by the end of 2031 Analysts’ Viewpoint on Travel and Tourism Market Scenario The market for travel and tourism is driven by the growth in affordability of airline travel, improvemen beautiful locations, and rise in disposable income. Robust growth in transportation facilities and overa tourism market. Millennial travelers are increasingly seeking unique once-in-a-lifetime experiences. In becoming increasingly popular. This is accelerating the growth of special interest tourism, thus augmen Companies operating in the travel and tourism market need to come up with innovative and unique tr in order to broaden their revenue streams.
Global Travel and Tourism Market Introduction Travel can be domestic, overseas, short-distance, or long-distance. The global travel and tourism ma
The ongoing global COVID-19 pandemic has crippled the travel and tourism industry. However, the expected to recover once the phase of the deadly Coronavirus gets over, especially in tourist destina players involved in the tourism industry, ongoing international issues and war conflicts are directly h However, travel and tourism market research indicates that emerging countries are promoting eco-f augment the industry in the near future.
Rise in Disposable Income and Accessibility to Remote Areas Driving Demand for Trave The global travel and tourism market comprises several other businesses including food and b financial services, entertainment, and travel agents. The global travel and tourism market is on markets in the world. Sustenance of the market depends on the quality of services being offer agents, airlines, car rental services, tour operators, and the hotel industry to make use of the la competitive advantage. The market size of travel industry has witnessed substantial growth over the last few years. Ris improvement in accessibility to various remote yet beautiful areas, and increase in disposable travel and tourism market. In several countries, art, entertainment, wildlife activities, adventure garnered the attention of domestic and international travelers. Additionally, rise in popularity o educational tours, and medical tourism & dental tourism through e-tourism is likely to augme next few years.
Growth in Popularity of Unique Travel Experiences and Multiday Tours to Experience Lo Interest among travelers to visit unique places and experience new cultures has been rising across th spending more on experiences rather than materialistic things such as hotel facilities. Millennial trav Thus, demand for ecological tours has been rising substantially since the last few years. As per Trave the most popular and demanded tours among travelers. Global travelers are also more interested in They are seeking more adventure-related experiences than before. Travelers prefer multiday tours ra activities in order to rejuvenate themselves from the hectic daily work life. Bookings for such tours a single-day tour bookings.
Regional Outlook of Global Travel and Tourism Market Asia Pacific dominates the global travel and tourism market, with China and India being the domina travel companies are focusing on the emerging BRICS countries. The travel and tourism industry is g inbound tourism in emerging countries of Asia Pacific is expected to create lucrative opportunities f players. The top destinations for travelers are Thailand, Japan, Singapore, Vietnam, Indonesia, Malay Continual shift toward ecotourism; and focus on conservation, adventure travel, and health and well peak of the pandemic. In terms of value, Europe accounts for the second largest share of the global travel and tourism mar are collaborating with niche tourist industry and other government organizations to boost tourism. travel and tourism market in Europe.
In June 2022, RIU opened the Riu Jambo, its second hotel on Zanzibar’s largest island, Unguja with a total of 461 rooms. Each of these players has been profiled in the travel and tourism market report based on parameter overview, business strategies, product portfolio, business segments, and recent developments.
Global Travel and Tourism Market Snapshot Attribute
Detail
Market Size Value in 2021
US$ 4.06 Bn
Market Forecast Value in 2031
US$ 16.20 Bn
Growth Rate (CAGR)
15.5%
Forecast Period
2022–2031
Historical Data Available for
2017–2020
Quantitative Units
US$ Bn for Value
Market Analysis
Includes cross-segment analysis at the region as well as country level. Furthermo drivers, restraints, opportunities, key trends, Porter’s Five Forces analysis, value ch
Competition Landscape
Format
Market share analysis, by company (2021) Company profiles section includes an overview, tourist service portfolio, ge strategy & recent developments, and key financials Electronic (PDF) + Excel Travel Days Within 7 Days 7-15 Days More than 15 Days
Companies Profiled
Accor plc Adris grupa d.d. Airbnb, Inc. Balkan Holidays Ltd. Carnival Corporation & plc Crown Resorts Ltd. G Adventures Hilton Worldwide Holdings Inc. OYO Rooms TUI Group
Customization Scope
Available upon request
Pricing
Available upon request