Leisure Travel Market to Hit USD 6252.2 Bn. at a CAGR of 22.72% by 2030- Says Steller Market Research

May 09 22:34 2024
Leisure Travel Market to Hit USD 6252.2 Bn. at a CAGR of 22.72% by 2030- Says Steller Market Research
Leisure Travel Market
The Leisure Travel Market size of the North America region is expected to dominate the market during the forecast period. Leisure Travel Market analysis was conducted by dividing it into Traveller Type, Age Group, Expenditure Type, and Sales Channel. The bottom-up approach was used to estimate the Leisure Travel Market size.

Pune, 9th May 2024: Steller Market Research, an Automotive & Transportation business research firm has published a report on the “Leisure Travel Market”. The total market opportunity for Leisure Travel Market was USD 1491.5 Bn in 2023 and is expected to grow at 22.72 % CAGR through the forecast period by reaching nearly USD 6252.2 Bn.

Leisure Travel Market Report Scope and Research Methodology

Market Size in 2023   USD 1491.5 Bn.

Market Size in 2030   USD 6252.2 Bn.

CAGR   22.72 % (2024-2030)

Forecast Period          2024-2030

Base Year        2023

Number of Pages       278

No. of Tables  119

No. of Charts and Figures      115

Segment Covered      Traveller Type, Age Group, Expenditure Type, Sales Channel

Regional Scope           North America, Europe, Asia Pacific, Middle East and Africa, South America

Report Coverage        Market Share, Size & Forecast by Revenue | 2023−2030, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis.

The Leisure Travel Market report offers a comprehensive examination of leading players’ strategies within the industry, together with an in-depth analysis of market segments and regional dynamics. It delves into market dynamics, including drivers, trends, restraints, opportunities, and challenges, both regionally and by segment. The report provides essential figures on import/export consumption, supply and demand, pricing, costs, revenue, and gross margins, serving as a valuable resource for investors.

Data collection employed a blend of primary and secondary research methods, including surveys, interviews, and expert consultations, ensuring the report’s authenticity. Utilizing a bottom-up approach, the report estimates global and regional market sizes for Leisure Travel. Strengths and weaknesses of key players are outlined through SWOT analysis, enhancing insights into the industry landscape, and informing strategic decision-making processes.

Get a free sample copy to fully comprehend the format of the report, which includes the table of contents and summary:https://www.stellarmr.com/report/req_sample/Leisure-Travel-Market/1854

Leisure Travel Market Overview

Leisure travel involves individuals or groups embarking on recreational trips for relaxation, exploration, or personal enjoyment, including activities like sightseeing, cultural experiences, and wellness retreats. Unlike business travel, it’s discretionary and reflects personal interests and leisure time availability. The market is growing due to increasing disposable incomes and lifestyles, alongside technological advancements making travel more accessible. Health and wellness tourism, cultural immersion, and digital nomadism are driving forces, with travelers seeking authentic experiences and work-life balance. Strategic partnerships like Travel + Leisure Co.’s collaboration with Allegiant and acquisitions such as their purchase of Accor Vacation Club. Technological innovations like Sabre Vacations highlight the industry’s commitment to personalized experiences. With evolving consumer preferences and strategic initiatives, the leisure travel market is poised for continued growth and innovation globally.

Leisure Travel Market Dynamics:

Technological innovations, rising disposable incomes, and a growing preference for personalized experiences are key drivers shaping the Leisure Travel Market. Advancements like Sabre Vacations streamline booking processes, while collaborations and acquisitions facilitate market growth. Consumers prioritize experiences, prompting companies to offer customizable packages and exclusive perks. Sustainable travel options gain traction, with eco-conscious practices becoming a competitive edge. The market also sees a surge in package travel, particularly among younger demographics like Gen Z and Millennials, who prioritize authenticity and social media-driven experiences.

Leisure Travel Market Regional Insights:

Europe is the dominant region in the Leisure Travel Market, boasting a cultural heritage, diverse landscapes, and a well-established tourism infrastructure. With iconic destinations such as Paris, and London, Europe attracts billions of travelers annually, making it a top choice for leisure travelers worldwide. Europe’s commitment to sustainability and eco-tourism initiatives aligns with the preferences of modern travelers, further solidifying its dominance in the market.  Europe’s dominance in the Leisure Travel Market is driven by its unparalleled cultural heritage, diverse landscapes, well-established tourism infrastructure, culinary experiences, and cultural events. As one of the most popular travel destinations in the world, Europe continues to captivate and inspire leisure travelers with its timeless charm and endless possibilities for exploration and discovery.

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Leisure Travel Market Segmentation

By Traveller Type

  • Solo
  • Group

Based on Traveller Type, Group segment held largest Leisure Travel market share and is expected to grow at high CAGR during the forecast period. Group travel currently dominates the market due to its social appeal, cost-effectiveness, and convenience.

By Age Group

  • Baby Boomers
  • Generation X
  • Millennials
  • Generation Z

Based on the Age Group, the Generation Z segment held the largest Leisure Travel market share and is expected to grow at a high rate during the forecast period. Generation Z dominates as these younger generations increasingly prioritize values alignment and authenticity in their consumer activities, travel providers should adapt by offering personalized experiences, sustainable options, and dynamic loyalty programs.

By Expenditure Type

  • Lodging
  • Transportation
  • Food & Beverages
  • Events & Entertainment
  • Others

Based on the Expenditure Type, the Lodging segment is expected to hold the largest share of the global market in the future, lodging typically constitutes the largest portion due to its essential role in providing comfort, convenience, and a home base for travelers during their trips.

By Sales Channel

  • Conventional Channels
  • Online Channels

Based on the Sales Channel, the online segment has dominated the market during the forecast year, driven by the convenience & accessibility of e-commerce platforms. The online segment allows consumers to browse a wide variety of Leisure Travel from the comfort of their homes, allowing easy comparison of Traveller Type and price.

Leisure Travel Key Competitors include:

  • Marriott International, Inc. (USA)
  • Travel + Leisure Co. (USA)
  • Accor S.A. (France)
  • Expedia Group, Inc. (USA)
  • The Priceline Group, Inc. (USA)
  • Hilton Worldwide Holdings Inc. (USA)
  • American Express Global Business Travel (USA)
  • Booking Holdings Inc. (USA)
  • TripAdvisor, Inc. (USA)
  • Airbnb, Inc. (USA)
  • Royal Caribbean Group (USA)
  • Norwegian Cruise Line Holdings Ltd. (USA)
  • Qantas Airways Limited (Australia)
  • Delta Air Lines, Inc. (USA)
  • Lufthansa Group (Germany)
  • Air Canada (Canada)
  • Emirates Group (United Arab Emirates)
  • Singapore Airlines Limited (Singapore)
  • China Southern Airlines Co., Ltd. (China)
  • Carnival Corporation & plc (USA)
  • LATAM Airlines Group S.A. (Chile)
  • Japan Airlines Co., Ltd. (Japan)
  • ANA Holdings Inc. (Japan)

Key questions answered in the Leisure Travel Market report are:

  • What is Leisure Travel?
  • Which market segment held the largest share of the global Leisure Travel market in 2023?
  • What are the global trends in the Leisure Travel Market?
  • What are the upcoming opportunities for the Leisure Travel Market?
  • What are the recent industry drivers that can be implemented to generate additional revenue streams for the Leisure Travel Market?
  • What growth strategies are the players considering to increase their presence in the Leisure Travel Market?
  • Who are the leading companies and what are their portfolios in the Leisure Travel Market?
  • What are the major challenges that the Leisure Travel Market could face in the future?
  • Which region held the largest Leisure Travel Market Share in 2023?

Key Offerings:

  • Past Market Size and Competitive Landscape (2018 to 2022)
  • Past Pricing and price curve by region (2018 to 2022)
  • Market Share, Size & Forecast by different segment | 2023−2030
  • Leisure Travel Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
  • Leisure Travel Market Segmentation – A detailed analysis by Traveller Type, Age Group, Sales Channel, and Region
  • Competitive Landscape – Profiles of selected key players by region in a strategic perspective
    • Competitive landscape – Market Leaders, Market Followers, Regional player
    • Competitive benchmarking of key players by region
  • PESTLE Analysis
  • PORTER’s analysis
  • Value Chain Analysis
  • Lucrative Business Opportunities with SWOT Analysis
  • Analyst Recommendations

Steller Market Research a leading Automotive & Transportation research firm, has also published the following reports:

Travel and Tourism Market – The market size is expected to reach USD 975.70 billion by 2030 at a CAGR of 6.01 % during the forecast period The Travel and Tourism Market is propelled by various drivers economic growth stimulates travel spending, while technological advancements enhance accessibility and convenience through online booking platforms and mobile apps

Bleisure Travel Market The market size is expected to reach USD 987.35 billion by 2030 at a CAGR of 9.2 % during the forecast period. The market of leisure travel is being driven by the increasing importance of work-life balance. To prevent burnout and improve well-being, modern professionals place a high value on leading balanced lives.

About Steller Market Research:

Steller Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical Traveller Types and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, Traveller demand analysis, and client impact studies.

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