Travel and Tourism Spending Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2025

Report Code: ZMR-4141 | Report Format : | Status : Upcoming |

Abstract

Global Travel and Tourism Spending Market: Overview

Travel & tourism spending determines as to what prices the tourists pay for air travel, boarding & lodging, and souvenirs. The travel & tourism spending sector also helps in calculating the rate of employment in the travel & tourism firms.

Global Travel and Tourism Spending Market: Growth Factors

Keen interest among the tourists to visit unique destinations and gain new experiences will help travel and tourism spending market to thrive within the next few years. Today, travellers are keen to go on a long vacation as compared to single-day tour to rejuvenate themselves after hectic, monotonous, and busy work schedule. Even leisure activities are gaining momentum across the globe as they help in building a positive mood among the individual and this will trigger the expansion of travel and tourism spending industry.

With the massive internet usage observed in various business domains, tourists are having myriad alternatives available for booking their travel tickets in advance. Apparently, online travel agents are booking tickets through the internet and this has eased the online booking that has resulted in the lucrative growth for travel and tourism spending market. Millennial tourists are eager to derive exceptional experiences or once-in-a lifecycle experiences and this factor can boost travel and tourism spending business trends.

Global Travel and Tourism Spending Market: Segmentation

The travel and tourism spending market can be segmented into travel days, application, and travel type. Based on the travel days, the market is divided into less than seven days, between seven to fifteen days, and over a fortnight or fifteen days. Application wise, the travel and tourism spending market is classified into domestic and international spending. On the basis of travel type, the industry is sectored into leisure spending and business spending.

Global Travel and Tourism Spending Market: Regional Analysis

Based on the region, the travel and tourism spending market can be divided into five main regions: Latin America, Asia Pacific, North America, Europe, and the Middle East and Africa. With outbound tourist activities flourishing in China, it is anticipated that the country will contribute massively towards the Asia Pacific travel and tourism spending market size within the next few years. Reportedly, the number of travellers visiting European countries such as Germany, UK, and France has swelled up by huge margin and this is likely to provide new growth dimensions for travel and tourism spending market in Europe.

Canada and the U.S. are also foreseen to contribute a huge share towards the North American market over the years to come.  Latin America and the Middle East and African markets also have huge growth potential and these markets are slated to witness a remarkable surge over the coming decade.

Global Travel and Tourism spending market: Competitive Players

Few of the main participants in travel and tourism spending market are Carnival Corporation, Airbnb Inc., G Adventures, Crown Resorts Ltd., TUI Group, Adris Grupad.d., Hilton Worldwide Holdings Inc., Accor plc, Balkan Holidays Ltd., and OYO Rooms.

Global Travel and Tourism Spending Market: Regional Segment Analysis

  • North America
    • The U.S.
  • Europe
    • The UK
    • France
    • Germany
  • The Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

What Reports Provides

  • Full in-depth analysis of the parent market
  • Important changes in market dynamics
  • Segmentation details of the market
  • Former, on-going, and projected market analysis in terms of volume and value
  • Assessment of niche industry developments
  • Market share analysis
  • Key strategies of major players
  • Emerging segments and regional markets
  • Testimonials to companies in order to fortify their foothold in the market.

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