According to this report, the global tourism market size reached approximately USD 9.24 trillion in 2024. Aided by the increasing consumer preference for travel experiences, rising disposable incomes, and the growth of online travel services, the market is projected to grow at a CAGR of 4.7% between 2025 and 2034, reaching a value of around USD 14.5 trillion by 2034.
Tourism is a vital economic sector for many countries, driving revenues and creating jobs in diverse sectors such as hospitality, transportation, and entertainment. The tourism market growth is driven by increasing international travel, greater connectivity, and an expanding middle class with more disposable income. Moreover, the rapid development of online travel booking platforms and mobile applications has made travel planning and booking more accessible and efficient.
The rise in sustainable and eco-tourism, cultural travel, and health and wellness tourism reflects a broader shift in consumer preferences towards more experiential and meaningful travel. As people seek to explore new destinations, learn about different cultures, and prioritise health and well-being, the tourism market is set to experience robust growth over the forecast period.
One of the primary drivers of the market is the increasing demand for leisure and experiential travel. With the rise of social media and the growing desire for unique and personalised experiences, travellers are increasingly seeking out destinations that offer more than just traditional sightseeing. Adventure tourism, cultural exploration, culinary tourism, and eco-tourism have gained significant popularity, particularly among younger travellers.
Adventure tourism, which includes activities such as hiking, skiing, scuba diving, and wildlife safaris, has seen a surge in demand as travellers seek adrenaline-pumping experiences in exotic locations. Similarly, cultural tourism, which focuses on immersing travellers in the local culture, traditions, and history of a destination, is becoming increasingly popular. Culinary tourism, where travellers explore different cuisines and local food traditions, has also grown in popularity as food becomes a central aspect of travel, consequently driving up the tourism market share.
Additionally, sustainable and eco-friendly travel practices are gaining traction as travellers become more environmentally conscious. Eco-tourism, which emphasises conservation and sustainable travel practices, is growing in demand as consumers look for ways to minimise their impact on the environment while exploring nature and wildlife. This trend is particularly strong in regions such as Africa, Latin America, and Southeast Asia, where eco-tourism initiatives are driving conservation efforts.
The rise of health and wellness tourism is another key trend shaping the market. Wellness travel, which includes activities such as yoga retreats, spa treatments, and detox programs, has gained popularity as consumers prioritise their physical and mental well-being. Travellers are increasingly looking for destinations that offer wellness experiences, contributing to the growth of wellness resorts, spa retreats, and holistic health centres.
As per the tourism market analysis, technological advancements and the growth of online travel services are playing a significant role in the expansion of the market. The widespread use of the internet and mobile devices has transformed how consumers plan, book, and experience travel. Online travel agencies (OTAs) such as Expedia, Booking.com, and Airbnb have become major players in the tourism sector, providing consumers with easy access to travel information, accommodations, and experiences.
The availability of user-generated content, such as reviews, photos, and travel blogs, has also influenced consumer decision-making. Travellers can now rely on the experiences and recommendations of others to choose destinations, accommodations, and activities, making travel planning more personalised and informed. Social media platforms like Instagram and YouTube have further fuelled the desire for travel, as users are inspired by visually appealing travel content shared by influencers and fellow travellers.
The adoption of artificial intelligence (AI) and big data analytics in the tourism sector has improved the overall travel experience. AI-powered chatbots and virtual assistants help travellers with booking queries, flight updates, and personalised travel recommendations. Big data analytics enable travel companies to analyse consumer preferences, predict travel trends, and offer tailored services to meet individual needs.
One of the notable tourism market trends is the adoption of mobile applications. The rise of mobile applications has made travel planning and booking more convenient. Travellers can now access real-time flight information, book last-minute accommodations, and explore local attractions through their smartphones. The integration of digital payments has also simplified transactions, making it easier for consumers to pay for travel services securely.
Tourism is a vital economic sector for many countries, driving revenues and creating jobs in diverse sectors such as hospitality, transportation, and entertainment. The tourism market growth is driven by increasing international travel, greater connectivity, and an expanding middle class with more disposable income. Moreover, the rapid development of online travel booking platforms and mobile applications has made travel planning and booking more accessible and efficient.
The rise in sustainable and eco-tourism, cultural travel, and health and wellness tourism reflects a broader shift in consumer preferences towards more experiential and meaningful travel. As people seek to explore new destinations, learn about different cultures, and prioritise health and well-being, the tourism market is set to experience robust growth over the forecast period.
One of the primary drivers of the market is the increasing demand for leisure and experiential travel. With the rise of social media and the growing desire for unique and personalised experiences, travellers are increasingly seeking out destinations that offer more than just traditional sightseeing. Adventure tourism, cultural exploration, culinary tourism, and eco-tourism have gained significant popularity, particularly among younger travellers.
Adventure tourism, which includes activities such as hiking, skiing, scuba diving, and wildlife safaris, has seen a surge in demand as travellers seek adrenaline-pumping experiences in exotic locations. Similarly, cultural tourism, which focuses on immersing travellers in the local culture, traditions, and history of a destination, is becoming increasingly popular. Culinary tourism, where travellers explore different cuisines and local food traditions, has also grown in popularity as food becomes a central aspect of travel, consequently driving up the tourism market share.
Additionally, sustainable and eco-friendly travel practices are gaining traction as travellers become more environmentally conscious. Eco-tourism, which emphasises conservation and sustainable travel practices, is growing in demand as consumers look for ways to minimise their impact on the environment while exploring nature and wildlife. This trend is particularly strong in regions such as Africa, Latin America, and Southeast Asia, where eco-tourism initiatives are driving conservation efforts.
The rise of health and wellness tourism is another key trend shaping the market. Wellness travel, which includes activities such as yoga retreats, spa treatments, and detox programs, has gained popularity as consumers prioritise their physical and mental well-being. Travellers are increasingly looking for destinations that offer wellness experiences, contributing to the growth of wellness resorts, spa retreats, and holistic health centres.
As per the tourism market analysis, technological advancements and the growth of online travel services are playing a significant role in the expansion of the market. The widespread use of the internet and mobile devices has transformed how consumers plan, book, and experience travel. Online travel agencies (OTAs) such as Expedia, Booking.com, and Airbnb have become major players in the tourism sector, providing consumers with easy access to travel information, accommodations, and experiences.
The availability of user-generated content, such as reviews, photos, and travel blogs, has also influenced consumer decision-making. Travellers can now rely on the experiences and recommendations of others to choose destinations, accommodations, and activities, making travel planning more personalised and informed. Social media platforms like Instagram and YouTube have further fuelled the desire for travel, as users are inspired by visually appealing travel content shared by influencers and fellow travellers.
The adoption of artificial intelligence (AI) and big data analytics in the tourism sector has improved the overall travel experience. AI-powered chatbots and virtual assistants help travellers with booking queries, flight updates, and personalised travel recommendations. Big data analytics enable travel companies to analyse consumer preferences, predict travel trends, and offer tailored services to meet individual needs.
One of the notable tourism market trends is the adoption of mobile applications. The rise of mobile applications has made travel planning and booking more convenient. Travellers can now access real-time flight information, book last-minute accommodations, and explore local attractions through their smartphones. The integration of digital payments has also simplified transactions, making it easier for consumers to pay for travel services securely.
Market Segmentation
The global tourism market can be divided based on tourism type, travel days, travel purpose, and region.Market Breakup by Tourism Type
- Domestic Tourism
- International Tourism
Market Breakup by Travel Days
- Less Than 7 Days
- Between 7 - 15 Days
- More Than 15 days
Market Breakup by Travel Purpose
- Business Spending
- Leisure Spending
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global tourism market. Some of the major players explored in the report are as follows:- TUI AG
- Booking Holdings Inc.
- Expedia Group Inc.
- Despegar.com, Corp.
- Contiki
- Butterfield & Robinson Inc.
- Geographic Expeditions Inc.
- ROW Adventures
- MT Sobek’s
- G Adventures Inc.
- Others
Table of Contents
1 Executive Summary
2 Market Overview and Stakeholder Insights
3 Economic Summary
4 Country Risk Profiles
5 Global Tourism Market Analysis
6 North America Tourism Market Analysis
7 Europe Tourism Market Analysis
8 Asia Pacific Tourism Market Analysis
9 Latin America Tourism Market Analysis
1 Middle East and Africa Tourism Market Analysis
11 Market Dynamics
12 Competitive Landscape
Companies Mentioned
- TUI AG
- Booking Holdings Inc.
- Expedia Group Inc.
- Despegar.com, Corp.
- ContikiButterfield & Robinson Inc.
- Geographic Expeditions Inc.
- ROW Adventures
- MT Sobek’s
- G Adventures Inc.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 173 |
| Published | February 2025 |
| Forecast Period | 2025 - 2034 |
| Estimated Market Value ( USD | $ 9.59 Trillion |
| Forecasted Market Value ( USD | $ 14.5 Trillion |
| Compound Annual Growth Rate | 4.7% |
| Regions Covered | Global |
| No. of Companies Mentioned | 9 |
