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Experiential Experience Fuels Growth In The Leisure Travel Market: A Significant Driver Propelling The Leisure Travel Market In 2025
Leisure Travel
What Is the Leisure Travel Market Size and Projected Growth Rate?
The leisure travel market has grown rapidly in recent years. It is forecast to rise from $1,260.91 billion in 2024 to $1,437.93 billion in 2025, reflecting a compound annual growth rate (CAGR) of 14.0%. The historic growth can be attributed to rising disposable incomes, a growing middle-class population, expanding globalization, improved tourism infrastructure, enhanced connectivity and transportation, the rise of low-cost airlines, government incentives, and increased eco-friendly travel options.
The leisure travel market is expected to see rapid growth over the next few years. It is projected to reach $2409.76 billion by 2029, with a CAGR of 13.8%. The growth is driven by shifts in consumer spending, the rise in global outbound tourism, improved lifestyle standards, the adoption of big data analytics, and the integration of AI and IoT in tourism. Key trends include solo travel preferences, focus on unique destinations, online booking services, sustainable tourism practices, AI in travel tech, adventure and wellness tourism, and customized travel experiences.
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What Are the Major Segments in the Leisure Travel Market?
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 Are The Driving Leisure Travel Market Evolution?
The growing consumer preference for recreational travel experiences is expected to propel the growth of the leisure travel market. Consumers are increasingly prioritizing unique, immersive travel experiences over material possessions. According to the Adventure Travel Trade Association, the number of travelers served by adventure travel operators rose by 54% in 2023, showing a significant shift toward leisure and adventure travel.
Which Firms Dominate The Leisure Travel Market Segments?
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 Major Trends Shaping the Leisure Travel Market?
Major corporations in the leisure travel market are increasingly focusing on digital change and online booking through platforms such as hotel content distribution to improve personalized customer experiences and maximize operational efficiency. A hotel content distribution platform, essentially a tech solution, aids in centralizing and simplifying the administration and dispersion of hotel data, rates, and availability across numerous booking channels. This increases their visibility and makes reservation optimization easier. For example, the Spain-based travel technology company Amadeus IT Group SA introduced Amadeus Leisure Connect in March 2024. This combined technological solution upgrades leisure travel by connecting hotel providers and travel sellers, integrating private contracts to simplify hotel content distribution, while providing real-time rates and inventory. Travel sellers have the opportunity to customize and upsell services, accessing exclusive prepaid net rates from over 600,000 properties. This platform eases booking procedures and boosts revenue, enhancing both the traveler's experiences and operational efficacy.
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Which Is The Largest Region In 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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Leisure Travel Market?
2. What is the CAGR expected in the Leisure Travel Market?
3. What Are the Key Innovations Transforming the Leisure Travel Industry?
4. Which Region Is Leading the Leisure Travel Market?
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