Unprecedented Growth: Leisure Travel Market to Reach $15 Trillion by 2040
The global leisure travel market is on the brink of an explosive growth. According to projections by the Boston Consulting Group, the industry is set to triple from $5 trillion in 2024 to an astounding $15 trillion by 2040. This remarkable expansion is largely driven by the burgeoning middle classes in emerging markets, particularly in China and India.
Domestic travel within these regions is expected to grow by 10-12% annually. A shift from material possessions to experiential spending is reshaping travel trends. The concept of “bleisure” travel, a blend of business and leisure, is gaining popularity.
The projected growth will catapult the leisure travel industry ahead of both the pharmaceutical and fashion industries in terms of market value.
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