Leisure Travel Market is predicted to reach USD 7550.6 billion at a CAGR of 22.50% during the forecast period 2023-2032

Market Research Future (MRFR) has published on the “Global Leisure Travel Market”.

The Leisure Travel market is estimated to register a CAGR of 22.50% during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the global Leisure Travel market— Expedia Group, Priceline Group, Carlson Wagonlit Travel, JTB Americas Group, World Travel, Inc., American Express Travel, Travel Leaders Group, TUI Group., Thomas Cook (India) Limited and Cox & Kings Ltd.

Market Highlights

The global Leisure Travel market is accounted to register a CAGR of 22.50% during the forecast period and is estimated to reach USD 7550.6 billion by 2032.

Growing incomes, particularly in emerging nations, have been linked to an increase in spending on vacation. With rising financial resources, people will spend a larger portion of their budget on trip experiences. Should tourists decline to visit locations where safety is an issue; there can be a decline in tourism activities? The leisure travel industry in emerging economies presents significant opportunities due to the rise of the middle class and rising disposable income.

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Segment Analysis

The global Leisure Travel market has been segmented based on traveler type, sales channel, age group and expenditure type.

Based on traveler type, the global Leisure Travel market has been segmented into Solo and Group. The solo segment was expected to hold the largest market share in 2022. The proton exchange membrane electrolysis segment was attributed to holding the largest market share in 2022. Because new experiences, cultural exploration, introspection, and a feeling of empowerment make people more likely to travel alone

Based on sales channel, the global Leisure Travel market has been segmented into Conventional Channels, Online Channels. The online channels segment was expected to hold the largest market share in 2022. Because it's simple and quick to book hotels and flights, and it allows you to compare a variety of travel options.

On the basis of age group, the market is segmented into Baby Boomers, Generation X, Millennial and Generation Z. The millennial segment was attributed to holding the largest market share in 2022. Because these travelers are more inclined to spend more money on travel and to discover new places

On the basis of expenditure type, the market is segmented into Lodging, Transportation, Food & Beverages, Events & Entertainment and Others. The transportation segment was attributed to holding the largest market share in 2022.Because transportation is the most important part of travelling.

Regional Analysis

The global Leisure Travel market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Leisure Travel market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Leisure Travel market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Leisure Travel market comprises of Middle East, Africa, and Latin America.

The largest market share for Leisure Travel was maintained by the North American regional sector. There is no denying that North America, and particularly the United States, will continue to play a significant role. Any modifications from the US could have an impact on leisure travel's development trend. Over the course of the projection period, North America's market is anticipated to expand significantly. The region's high rate of adoption of cutting-edge technologies combined with the presence of major competitors should provide the industry with plenty of room to grow.

Moreover, the Europe market has been persistently growing over the forecast period. The demand for Leisure Travel is Higher disposable incomes allow families and individuals to allocate a larger portion of their budget for travel, which is why the leisure travel business is only expected to increase.

Additionally, global leisure travel market growth, Asia-Pacific is the area with the fastest rate. South east Asian countries, such as one of the region's tourism hotspots. This region's expansion has been driven by increased middle-class salaries, better transit systems, and a growing interest in traveling abroad. Its rich cultural history, distinctive experiences, and picturesque scenery make it a desirable tourism destination for both domestic and foreign tourists.

Furthermore, the rest of the world's Leisure Travel market is divided into the Middle East, Africa, and Latin America. This growth is attributed to the region's rising middle class and rising disposable income Government support, a rise in investor interest, and the viability of the technology in the sector are all contributing factors to the market expansion.

Key Findings of the Study

• The global Leisure Travel market is expected to reach USD 7550.6 billion by 2032, at a CAGR of 22.50% during the forecast period.


• The Asia-Pacific region accounted for the fastest-growing global market due to the growing interest in exploring international destinations, improved transportation networks.


• Based on traveler type, the solo segment was expected to hold the largest market share in 2022.


• Expedia Group, Priceline Group, Carlson Wagonlit Travel, JTB Americas Group, World Travel, Inc., American Express Travel, Travel Leaders Group, TUI Group., Thomas Cook (India) Limited and Cox & Kings Ltd.