Global Travel and Tourism Spending Market Overview
According to SPER Market Research, the Global Travel and Tourism Spending Market is estimated to reach USD 20.46 trillion by 2033 with a CAGR of 5.75%.
Throughout the projected period, growth in the worldwide travel and tourist spending market is anticipated. Spending on travel and tourism affects how much is spent on transportation, boarding and accommodation, and souvenirs. The expenditure sector for travel and tourism also contributes to determining the employment rate in the travel and tourism industry. As airplane travel becomes more affordable, accessibility to several isolated yet stunning locations improves, and discretionary income increases, it is anticipated that the worldwide travel and tourist spending market would expand. Both domestic and foreign travellers have been interested in the rising popularity of art, entertainment, wildlife activities, adventure sports, and other such activities in a number of countries. Future trends in travel among millennials include solo excursions, baby moons, and eco-friendly vacations.
Travel and tourism are growing as a result of several fundamental developments, including rapid urbanization and an increase in disposable income. Given that travellers from all over the world are eager to experience diverse cultures, local landmarks, and local sites, cultural heritage is predicted to enhance the industry. This in turn is fuelling the market's expansion. The maintenance of a work-life balance and rejuvenation from a rigorous schedule are predicted to enhance growth for the global travel and tourism business. The market's expansion is anticipated to be hampered by elements including visa restrictions, political climates, natural calamities, and viruses like COVID 19 and the swine flu. Global infrastructure development is expanding, which will promote market expansion over the predicted period.
The desire of people to visit strange places and get new experiences will contribute to the growth of the travel and tourism expenditure sector in the upcoming years. Millennial travelers in particular are shown a significant interest in obtaining unique or once-in-a-lifetime experiences, which might improve business trends for travel and tourism spending. The number of individuals traveling internationally is also rising as a result of a number of causes, including an increase in millennial tourists in comparison to earlier generations, a rise in youth travel expertise due to the growth of social networks, and decreased air travel prices, among others.
Impact of COVID-19 on the Global Travel and Tourism Spending Market
One of the industries that has been most severely impacted by the Covid-19 outbreak is global travel and tourism spending. Lockdowns and other limitations on local and foreign travel have had a significant impact on those industries. The underlying reliance that countries had on domestic travel and other modes of transportation are what would mostly cause the predicted delayed recovery. Since that firms have shifted to the online mode, the impact on business travel will probably be more apparent than on pleasure travel.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2032 |
| Base year considered | 2021 |
| Forecast period | 2022-2032 |
| Segments covered | By Type, By Application, By Travel Days
|
| Regions covered | Asia-Pacific, Europe, Middle East and Africa, North America, Latin America
|
| Companies Covered | Accor, Adris Grupa, Airbnb Inc., Balkan Holidays, Carnival Corporation, Crown Resorts, G Adventures, Hilton Worldwide Holdings, OYO Rooms, TUI Group
|
Target Audience-
- Government Bodies and Associated Private Firms
- Individuals interested to learn about Travel and Tourism Spending market
- Industry Leaders & Companies aims to enter the Travel and Tourism Spending market
- Service Providers, Product Providers, Solution Providers, and other players in the Travel and Tourism Spending market
- Universities and Student
Global Travel and Tourism Spending Market Segmentation:
1. By Type:
- Domestic Expenditure
- International Expenditure
2. By Application:
- Business Travel
- Leisure Travel
- Others
3. By Travel Days:
- 7 Days
- 7 – 15 Days
- More than 15 Days
4. By Region:
- Asia-Pacific
- Europe
- Middle East & Africa
- North America
- Latin America
Key Topics Covered in the Report:
- Size of Global Travel and Tourism Spending Market (FY’2019-FY’2032)
- Overview of Global Travel and Tourism Spending Market
- Segmentation of Global Travel and Tourism Spending Market By Type (Domestic Expenditure, International Expenditure)
- Segmentation of Global Travel and Tourism Spending Market By Application (Business Travel, Leisure Travel, Others)
- Segmentation of Global Travel and Tourism Spending Market By Travel Days (7 Days, 7 – 15 Days, More than 15 Days)
- Statistical Snap of Global Travel and Tourism Spending Market
- Global Travel and Tourism Spending Market Growth Analysis
- Problems and Challenges in Global Travel and Tourism Spending Market
- Global Travel and Tourism Spending Market Competitive Landscape
- Impact of COVID-19 and Demonetization on Global Travel and Tourism Spending Market
- Details on Recent Investment in Global Travel and Tourism Spending Market
- Competitive Analysis of Global Travel and Tourism Spending Market
- Major Players in the Global Travel and Tourism Spending Market
- SWOT Analysis of Global Travel and Tourism Spending Market
- Global Travel and Tourism Spending Market Future Outlook and Projections (FY’2019-FY’2032)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1 Research data source
2.1.1 Secondary data
2.1.2 Primary data
2.1.3 SPER’s internal database
2.1.4 Premium insight from KOL’s
2.2 Market size estimation
2.2.1 Top-down and Bottom-up approach
2.3 Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.1.4 Challenges
4.2. COVID-19 Impacts of the Global Travel and Tourism Spending Market
5. Market variables and outlook
5.1. SWOT analysis
5.1.1 Strengths
5.1.2 Weaknesses
5.1.3 Opportunities
5.1.4 Threats
5.2. PESTEL analysis
5.2.1 Political landscape
5.2.2 Economic landscape
5.2.3 Social landscape
5.2.4 Technological landscape
5.2.5 Environmental landscape
5.2.6 Legal landscape
5.3. PORTER’S five forces analysis
5.3.1 Bargaining power of suppliers
5.3.2 Bargaining power of Buyers
5.3.3 Threat of Substitute
5.3.4 Threat of new entrant
5.3.5 Competitive rivalry
5.4. Heat map analysis
6. Competitive Landscape
6.1 Global Travel and Tourism Spending Manufacturing Base Distribution, Sales Area, Product Type
6.2 Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Travel and Tourism Spending Market
7. Global Travel and Tourism Spending Market, By Type, 2019-2032 (USD Million)
7.1 Domestic Expenditure
7.2 International Expenditure
8. Global Travel and Tourism Spending Market, By Application, 2019-2032 (USD Million)
8.1 Business Travel
8.2 Leisure Travel
8.3 Others
9. Global Travel and Tourism Spending Market, By Travel Days, 2019-2032 (USD Million)
9.1 7 Days
9.2 7 – 15 Days
9.3 More than 15 Days
10. Global Travel and Tourism Spending Market, By Region, 2019-2032 (USD Million)
10.1 Global Seamless Pipes Market and Market Share by Region (2019-2025)
10.2 Global Seamless Pipes Market and Market Share by Region (2026-2032)
10.3 Asia-Pacific
10.3.1 Australia
10.3.2 China
10.3.3 India
10.3.4 Japan
10.3.5 South Korea
10.3.6 Rest of Asia-Pacific
10.4 Europe
10.4.1 France
10.4.2 Germany
10.4.3 Italy
10.4.4 Spain
10.4.5 United Kingdom
10.4.6 Rest of Europe
10.5 Middle East and Africa
10.5.1 Kingdom of Saudi Arabia
10.5.2 United Arab Emirates
10.5.3 Rest of Middle East & Africa
10.6 North America
10.6.1 Canada
10.6.2 Mexico
10.6.3 United States
10.7 Latin America
10.7.1 Argentina
10.7.2 Brazil
10.7.3 Rest of Latin America
11. Company Profiles
11.1 Accor
11.1.1 Company details
11.1.2 Financial outlook
11.1.3 Product summary
11.1.4 Recent developments
11.2 Adris Grupa
11.2.1 Company details
11.2.2 Financial outlook
11.2.3 Product summary
11.2.4 Recent developments
11.3 Airbnb Inc.
11.3.1 Company details
11.3.2 Financial outlook
11.3.3 Product summary
11.3.4 Recent developments
11.4 Balkan Holidays
11.4.1 Company details
11.4.2 Financial outlook
11.4.3 Product summary
11.4.4 Recent developments
11.5 Carnival Corporation
11.5.1 Company details
11.5.2 Financial outlook
11.5.3 Product summary
11.5.4 Recent developments
11.6 Crown Resorts
11.6.1 Company details
11.6.2 Financial outlook
11.6.3 Product summary
11.6.4 Recent developments
11.7 G Adventures
11.7.1 Company details
11.7.2 Financial outlook
11.7.3 Product summary
11.7.4 Recent developments
11.8 Hilton Worldwide Holdings
11.8.1 Company details
11.8.2 Financial outlook
11.8.3 Product summary
11.8.4 Recent developments
11.9 OYO Rooms
11.9.1 Company details
11.9.2 Financial outlook
11.9.3 Product summary
11.9.4 Recent developments
11.10 TUI Group
11.10.1 Company details
11.10.2 Financial outlook
11.10.3 Product summary
11.10.4 Recent developments
12. List of Abbreviations
13. Reference Links
14. Conclusion
15. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
