Leisure Travel Market Size to Surpass USD 1639.4 Billion by 2032, Rising At A CAGR Of 7.08%

𝐆𝐥𝐨𝐛𝐚𝐥 𝐋𝐞𝐢𝐬𝐮𝐫𝐞 𝐓𝐫𝐚𝐯𝐞𝐥 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲: 𝐊𝐞𝐲 𝐒𝐭𝐚𝐭𝐢𝐬𝐭𝐢𝐜𝐬 𝐚𝐧𝐝 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐢𝐧 𝟐𝟎𝟐𝟒-𝟐𝟎𝟑𝟐

𝐒𝐮𝐦𝐦𝐚𝐫𝐲:

● The global leisure travel market size reached USD 869.6 Billion in 2023.
● The market is expected to reach USD 1,639.4 Billion by 2032, exhibiting a growth rate (CAGR) of 7.08% during 2024-2032.
● Asia Pacific leads the market, accounting for the largest leisure travel market share.
● Group accounts for the majority of the market share in the traveler type segment due to the rising focus on enhanced experience. 
● On the basis of age group, the market has been divided into baby boomers, generation x, millennial, and generation z.
● Lodging holds the largest share in the leisure travel industry.
● Online channel remains a dominant segment in the market on account of the increasing social media influence on individuals.  
● The rising relaxation and wellness trends are a primary driver of the leisure travel market.
● Cultural and experiential tourism and technological advancements are reshaping the leisure travel market.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐟𝐨𝐫 𝐚 𝐬𝐚𝐦𝐩𝐥𝐞 𝐜𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭: https://www.imarcgroup.com/leisure-travel-market/requestsample

𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐓𝐫𝐞𝐧𝐝𝐬 𝐚𝐧𝐝 𝐃𝐫𝐢𝐯𝐞𝐫𝐬:

● 𝐑𝐞𝐥𝐚𝐱𝐚𝐭𝐢𝐨𝐧 𝐚𝐧𝐝 𝐖𝐞𝐥𝐥𝐧𝐞𝐬𝐬 𝐓𝐫𝐞𝐧𝐝𝐬:

The rising focus on wellness and mental health among individuals is impelling the market growth. People are seeking destinations that offer relaxation and rejuvenation. Wellness travel is expanding significantly, encompassing activities like spa treatments, yoga retreats, meditation centers, and nature-based vacations. These experiences are designed to help travelers escape the stress of daily life and focus on mental and physical well-being. Spa resorts are offering tailored wellness packages that include massages, detox programs, and holistic therapies, aimed at reducing stress and promoting relaxation. Yoga and meditation retreats provide environments where travelers can disconnect from technology, engage in mindfulness practices, and restore balance. Additionally, nature-focused vacations like hiking in serene forests, beachfront stays, or eco-lodges in remote areas allow individuals to recharge mentally by connecting with nature.      

● 𝐂𝐮𝐥𝐭𝐮𝐫𝐚𝐥 𝐚𝐧𝐝 𝐄𝐱𝐩𝐞𝐫𝐢𝐞𝐧𝐭𝐢𝐚𝐥 𝐓𝐨𝐮𝐫𝐢𝐬𝐦:   

Rising preferences for cultural and experiential tourism are propelling the market growth. Travelers are not just looking to visit popular destinations but seeking authentic and immersive experiences that allow them to engage with local cultures, traditions, and lifestyles. This shift is driving demand for tours that include activities like cooking classes, heritage walks, and art workshops, offering a deeper connection to the destination. Furthermore, eco-tourism and sustainable travel are gaining popularity, where travelers focus on minimizing their environmental footprint while experiencing nature and local ecosystems. In addition, the increasing focus on personalized and culturally-rich experiences is bolstering the market growth.      

● 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐢𝐜𝐚𝐥 𝐀𝐝𝐯𝐚𝐧𝐜𝐞𝐦𝐞𝐧𝐭𝐬:

Technology is revolutionizing the leisure travel market, making trip planning and booking more accessible, efficient, and personalized. Travelers can easily book flights, accommodations, and tours at their fingertips with the rise of online platforms and mobile applications. These platforms offer personalized recommendations, real time updates, and user reviews, enhancing the travel experience. Additionally, the integration of artificial intelligence (AI) and machine learning (ML) in these platforms helps travelers receive tailored itineraries based on preferences, past behavior, and budget. Virtual reality (VR) and augmented reality (AR) are also emerging as tools for travelers to preview destinations before committing to bookings. These technological advancements simplify travel, providing convenience and reducing planning stress.

𝐀𝐬𝐤 𝐀𝐧𝐚𝐥𝐲𝐬𝐭 𝐟𝐨𝐫 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.imarcgroup.com/request?type=report&id=6365&flag=C

𝐋𝐞𝐢𝐬𝐮𝐫𝐞 𝐓𝐫𝐚𝐯𝐞𝐥 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧:

𝐁𝐫𝐞𝐚𝐤𝐮𝐩 𝐁𝐲 𝐓𝐫𝐚𝐯𝐞𝐥𝐞𝐫 𝐓𝐲𝐩𝐞:

● Solo
● Group

Group accounts for the majority of shares due to the rising focus on enhanced experience.

𝐁𝐫𝐞𝐚𝐤𝐮𝐩 𝐁𝐲 𝐀𝐠𝐞 𝐆𝐫𝐨𝐮𝐩:

● Baby Boomers
● Generation X
● Millennial
● Generation Z

On the basis of age group, the market has been divided into baby boomers, generation x, millennial, and generation z.   

𝐁𝐫𝐞𝐚𝐤𝐮𝐩 𝐁𝐲 𝐄𝐱𝐩𝐞𝐧𝐝𝐢𝐭𝐮𝐫𝐞 𝐓𝐲𝐩𝐞:

● Lodging
● Transportation
● Food and Beverage
● Events and Entertainment
● Others

Lodging represents the majority of shares due to the rising focus on brand loyalty.  

𝐁𝐫𝐞𝐚𝐤𝐮𝐩 𝐁𝐲 𝐒𝐚𝐥𝐞𝐬 𝐂𝐡𝐚𝐧𝐧𝐞𝐥:

● Conventional Channel
● Online Channel

Online channel holds the majority of shares on account of the increasing social media influence on individuals.  

𝐁𝐫𝐞𝐚𝐤𝐮𝐩 𝐁𝐲 𝐑𝐞𝐠𝐢𝐨𝐧:

● North America (United States, Canada)
● Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
● Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
● Latin America (Brazil, Mexico, Others)
● Middle East and Africa

Asia Pacific enjoys the leading position owing to a large market for leisure travel driven by the growing inbound and outbound travel.     

𝐓𝐨𝐩 𝐋𝐞𝐢𝐬𝐮𝐫𝐞 𝐓𝐫𝐚𝐯𝐞𝐥 𝐌𝐚𝐫𝐤𝐞𝐭 𝐋𝐞𝐚𝐝𝐞𝐫𝐬:

The leisure travel market research report outlines a detailed analysis of the competitive landscape, offering in-depth profiles of major companies. Some of the key players in the market are:

● American Express Company
● Cox & Kings Ltd.
● Direct Travel Inc.
● Flight Centre Travel Group Limited
● Hays Travel Limited
● JTB Americas Ltd. (JTB Corporation)
● MakeMyTrip Pvt. Ltd.
● Tripadvisor Inc.
● Trivago N.V.
● TUI Group
● World Travel Inc.

𝐍𝐨𝐭𝐞: 𝐈𝐟 𝐲𝐨𝐮 𝐫𝐞𝐪𝐮𝐢𝐫𝐞 𝐚𝐧𝐲 𝐬𝐩𝐞𝐜𝐢𝐟𝐢𝐜 𝐢𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧 𝐭𝐡𝐚𝐭 𝐢𝐬 𝐧𝐨𝐭 𝐜𝐨𝐯𝐞𝐫𝐞𝐝 𝐜𝐮𝐫𝐫𝐞𝐧𝐭𝐥𝐲 𝐰𝐢𝐭𝐡𝐢𝐧 𝐭𝐡𝐞 𝐬𝐜𝐨𝐩𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐫𝐞𝐩𝐨𝐫𝐭, 𝐰𝐞 𝐰𝐢𝐥𝐥 𝐩𝐫𝐨𝐯𝐢𝐝𝐞 𝐭𝐡𝐞 𝐬𝐚𝐦𝐞 𝐚𝐬 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐭𝐡𝐞 𝐜𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧.

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐔𝐬:

IMARC Group

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Email: sales@imarcgroup.com

Tel No:(D) +91 120 433 0800

United States: +1-631-791-1145

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:

IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

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