Outlook on the Leisure Travel Global Market to 2027 - Opportunity Analysis and Industry Forecast - ResearchAndMarkets.com

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The "Leisure Travel Market by Traveler Type, Sales Channel, By Age Group and By Expenditure Type: Global Opportunity Analysis and Industry Forecast, 2021-2027" report has been added to ResearchAndMarkets.com's offering.

The global leisure travel market size was valued at $1,006.5 billion in 2019, and is projected to reach $1,737.3 billion by 2027, registering a CAGR of 22.6% from 2021 to 2027.

The leisure travel economy comprised of a well-entrenched biosphere of industries including but not limited to logistics, accommodation, food, retail, recreation and other tourism services Companies, large and small in associated industries continuously strive to create experiences bringing people together, support communities and boosting economics of country. Substantial investment on tourism have multiplier effects in the expansion of economy including infrastructure development, stimulating private investment, aggregate demand and jobs. Tourism offers direct and indirect aid to a nation's economy as a result past few years have saw remarkable growth in the attention paid by tourism development experts, policy makers, and industry leaders especially in the developing region of Asia-pacific and Africa region.

Recent years have seen paradigm shift towards experience rather than goods. Spending on consumer durables, apparels have seen faltering however, experiential spending on recreation, travel, and eating have seen rapid growth. As a result, travel is outpacing demand for goods. The trend is in sync with growing number of global outbound tourists in the last few years. The robust growth is expected to continue in the estimated future, driven primarily by the expansion of low cost airlines, government initiatives and technological advancements.

While the expansion in tourism industry has led to creation of jobs, a proliferation of tour operators, and increased ease in booking accommodation, logistics and services, the push comes with its own set of unique challenges - economic slowdown, infrastructure, and political tensions, among other.

The leisure travel market has been segmented based on traveler type, sales channel, age group, expenditure type and region. Based on traveler type, the leisure travel market is bifurcated into solo and group. Based on sales channel the global market is studied across conventional channels, online channels. By age group, it is divided into baby boomers, generation X, Millennials and Generation- Z. On the basis of expenditure type, the market is categorized into lodging, transportation, food and beverages, events & entertainment and others. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.

Key Benefits

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the leisure travel market analysis from 2019 to 2027 to identify the prevailing leisure travel market opportunities.

  • The market research is offered along with information related to key drivers, restraints, and opportunities.

  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.

  • In-depth analysis of the leisure travel market segmentation assists to determine the prevailing market opportunities.

  • Major countries in each region are mapped according to their revenue contribution to the global market industry.

  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.

  • The report includes the analysis of the regional as well as global leisure travel market trends, key players, market segments, application areas, and market growth strategies.

Market Dynamics

Drivers

  • Pursuit of Unique Experiences to Augment the Global Tourism Industry

  • Mobile Applications, Big Data Analytics, and Artificial Intelligence Evolving Together Amidst Proliferating Tourism Industry

  • Rise of Social Media Positively Impacting the Travel Industry

Restraints

  • Increase in Unrest Due to Terrorism and Domestic Issues in Countries

  • Confined Tourism Due to Natural Environmental Conditions

Opportunities

  • Unique Destinations Gaining High Traction Among Tourists

  • Eco Friendly Tourism-New Trend Among Millennial

Companies Profiled

  • American Express Travel

  • Carlson Wagonlit Travel

  • Cox & Kings Ltd.

  • Expedia Group

  • Jtb Usa, Inc.

  • Priceline(Booking Holdings Inc.)

  • Thomas Cook India Ltd.

  • Travel Leaders Group

  • Tui Group

  • World Travel, Inc.

For more information about this report visit https://www.researchandmarkets.com/r/sjneri

View source version on businesswire.com: https://www.businesswire.com/news/home/20210121005407/en/

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