Unprecedented Growth Predicted for Global Leisure Travel Market
The global leisure travel industry is on the brink of extraordinary growth. Spending is predicted to skyrocket, reaching a staggering $15 trillion by 2040. This growth is primarily fueled by domestic travel demand.
According to recent industry analysis, domestic leisure travel accounted for approximately $4.1 trillion in 2024. This figure is projected to almost triple, reaching $11.7 trillion by 2040.
Driving this demand are younger, digitally-savvy travelers. They crave wellness-focused, culturally-immersive experiences, which are enhanced by AI-driven personalization. The impact of this trend is significant. Regional leisure travel is expected to triple from $710 billion to over $2 trillion. Meanwhile, international leisure travel is set to more than triple, hitting $1.4 trillion during the same period.
The travel sector continues to create significant value for investors. This is supported by global economic recovery and increasing travel participation in developing markets. Airlines are expected to maintain strong growth, with approximately 6.5% expansion anticipated for 2025. However, various economic and geopolitical variables remain in play.
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Source: BCG