How Has the Leisure Travel Market Evolved Historically and What is its Current Size?
The leisure travel market has seen considerable growth due to a variety of factors.
• The leisure travel market has grown rapidly in recent years. It is projected to grow from $1260.91 billion in 2024 to $1437.93 billion in 2025, at a CAGR of 14.0%.
Key drivers include rising disposable incomes, a growing middle class, increased globalization, better tourism infrastructure, enhanced connectivity, low-cost airlines, government incentives, and more eco-friendly travel options.
What Is The Projected Growth Of The Leisure Travel Template Market?
The leisure travel market is expected to maintain its strong growth trajectory in upcoming years.
• The leisure travel market is projected to grow to $2409.76 billion by 2029, at a CAGR of 13.8%.
This growth is attributed to shifts in consumer spending, the rise of global outbound tourism, improved lifestyle standards, the integration of big data analytics, and the influence of social media on travel. Key trends include solo travel, eco-friendly tourism, adventure and wellness travel, mobile travel apps, and customized travel experiences.
What Are The Key Drivers Fueling Growth In The Leisure Travel Market?
The increasing consumer interest in recreational travel is expected to drive the growth of the leisure travel market. As people prioritize memorable travel experiences over material possessions, they are more likely to seek out recreational trips that offer adventure, culture, and relaxation. For example, the Adventure Travel Trade Association reported a 54% rise in the number of travelers using adventure travel operators in 2024. This shift in consumer preferences is fueling growth in the leisure travel sector.
What Are The Principal Market Segments In The Global Leisure Travel Industry?
The leisure travel market covered in this report is segmented –
1) By Expenditure Type: Lodging, Transportation, Food And Beverages, Events And Entertainment, Other Expenditure Types
2) By Traveler Type: Solo, Group
3) By Sales Channel: Online Channels, Conventional Channels
4) By Age Group: Baby Boomers, Generation X, Millennials, Generation Z
Subsegments:
1) By Lodging: Hotels And Resorts Or Vacation Rentals Or Hostels Or Bed And Breakfasts (B And Bs) Or Campsites And Glamping Sites
2) By Transportation: Airfare Or Car Rentals Or Rail Travel Or Cruises Or Bus Services Or Ride-sharing
3) By Food And Beverages: Restaurants And Cafes Or Street Food Or Bars And Pubs Or All-Inclusive Dining Packages Or Catering And Banquets
4) By Events And Entertainment: Concerts And Festivals Or Theme Parks And Attractions Or Cultural And Heritage Tours Or Adventure Activities Or Sporting Events And Tickets
5) By Other Expenditure Types: Shopping Or Travel Insurance Or Spa And Wellness Services Or Travel Accessories And Gear Or Tour Guides And Excursions
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What Trends Are Reshaping The Future Of The Leisure Travel Market?
Leading businesses in the leisure travel sector are making a shift towards digital transformation and online bookings, such as hotel content distribution platforms. These aim to elevate personal experiences and make operations more efficient. A hotel content distribution platform is a technology-driven solution that brings together and simplifies how hotel information, rates, and availability are managed and distributed over various booking channels to increase visibility and optimize bookings. Take for instance in March 2024, when the Spain-based travel technology firm Amadeus IT Group SA introduced Amadeus Leisure Connect. This comprehensive tech solution boosts leisure travel by connecting hotel providers and travel sellers. It incorporates private agreements to streamline the distribution of hotel content, thus delivering real-time rates and inventory. Travel sellers can tailor and upsell services while accessing exclusive prepaid net rates from over 600,000 properties. The platform eases bookings and maximizes revenue, thereby enhancing the travel experience and operational efficiency.
Who Are the Key Players In The Leisure Travel Market?
Major companies operating in the leisure travel market are:
• TUI Group
• Priceline Group
• Booking Holdings Inc.
• Expedia Group Inc.
• CWT Global BV
• Airbnb Inc.
• American Express Global Business Travel
• Flight Centre Travel Group Ltd
• TripAdvisor Inc
• Orbitz LLC
• World Travel Inc.
• Contiki Holidays Ltd.
• Abercrombie & Kent Ltd.
• G Adventures Inc.
• Trivago N.V.
• Cox & Kings Ltd.
• Travelocity.com LP
• Direct Travel Inc.
• Travel Leaders Group LLC
• MakeMyTrip Pvt. Ltd.
• Luxury Escapes Pty Ltd.
• Intrepid Travel Pty Ltd.
• GetYourGuide AG
• Kayak Software Corporation
• JTB Americas Group Inc.
• TravelBag Ltd.
• Thomas Cook Group plc
• Trafalgar Tours Ltd.
• Hays Travel Limited
What Are The Regional Insights Into The Leisure Travel Market?
North America was the largest region in the leisure travel market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the leisure travel market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
