Projected Boom in Leisure Travel Market: $6.2 Trillion by 2033
The global leisure travel market is witnessing an unprecedented growth. According to new research from Allied Market Research, the sector is projected to reach a staggering $6.2 trillion by 2033. This represents a compound annual growth rate (CAGR) of 18.3%, a clear indication of the industry’s robust recovery and transformation in the post-pandemic era.
Key drivers of this rapid expansion in the leisure travel sector include digitalization, informatization, and globalization. The Asia-Pacific region, currently holding the highest market share, is expected to grow at a CAGR of 24.1%, outpacing other global regions.
Key Market Trends
- By traveler type, group segments dominated the market in 2023.
- Online channels accounted for the highest share in leisure travel sales and are projected to grow at a CAGR of 23.1% from 2024 to 2033.
- Generation X travelers led market demand in 2023.
- Lodging represented the largest expenditure category.
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