Leisure Travel Market Set for Significant Expansion with 18.3% CAGR During the Forecast Period 2024–2033

Leisure Travel Market Size, Share, Competitive Landscape and Trend Analysis Report, by Traveler Type, by Age Group, by Expenditure Type, by Sales Channel.

WILMINGTON, DE, UNITED STATES, June 19, 2026 /EINPresswire.com/ -- Leisure travel market size was valued at $1.2 trillion in 2023, and is projected to reach $6.2 trillion by 2033, growing at a CAGR of 18.3% from 2024 to 2033.

The global leisure travel market is expected to witness significant growth owing to innovative advancements in artificial intelligence, big data and analytics, social media and machine learning. In addition, key players in the industry are driving their attention toward the enhancement of mobile experience to provide a more user-friendly experience to travelers while booking on their platforms.

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The key players profiled in the report include:-

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
Cox & Kings Ltd.

Leisure Travel Market Growth Factors:

Digitalization, informatization, and globalization upgrades in past few years have spurred the fast growth of the leisure travel industry. In today’s global economy tourism is now playing prominent role and taking a larger share in the economy, while bringing profound social impacts.

Outbound leisure travel has gained significant momentum at the start of 21st century as the result of a rise in disposable income, expansion of logistics & infrastructure, and rigorous promotion & advertising of tourism by governments. The outbound tourism market has expanded sprightly, as a result, the number of outbound tourists maintained robust growth each year from 2002 to 2018. The number of global outbound tourists surpassed a record 1.4 billion in 2018.

New trends have emerged due to the rapid development of global outbound tourism. Citizens' perceptions have changed from meeting everyday needs to improving the quality of their lives. Now more than ever, travel plays a vital importance in the hectic lifestyle of people. Leisure holidays remained the most preferable travel type, however, adventure tourism has gained wide traction in the past few years.

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Leisure Travel Market Segmentation:-

By Traveler Type

Solo
Group

By Age Group

Baby Boomers
Generation X
Millennials
Generation Z

By Expenditure Type

Lodging
Transportation
Food and beverages
Events and entertainment
Others

By Sales Channel

Conventional Channels
Online Channels

Evidence of the evolving leisure travel market is emanating across regions whether developing or developed. Deployment of digital technologies including but not limited to artificial intelligence, big data and analytics, Internet of Things will continue to remain in cynosure for the rapidly developing industry and leisure travel market trends.

The increasing advent of digitalization will continue to foster bringing paradigm shift in the leisure travel and tourism industry regarding how engaged stakeholders will reach out to tech-savvy customers is expected to create leisure travel market opportunities in the upcoming years.

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COVID-19 was declared a pandemic by the World Health Organization (WHO) on March 11, 2020. The COVID-19 pandemic has had a significant impact on the leisure travel market, due to the travel restrictions across the globe in an attempt to prevent the pandemic spread. According to the United Nations World Tourism Organization (UNWTO) estimation, the global international tourist arrivals might decrease by 58–78% in 2020 depending on the speed of containment and the duration of travel restrictions as well as the shutdown of borders. In addition, the travel & tourism industry will suffer a loss of $910 billion to $1.2 trillion in export revenues from tourism in 2020, which is further expected to hamper the growth of the market.

Moreover, according to UNWTO, the pandemic is likely to increase unemployment by putting around 100 to 120 million direct tourism jobs at risk, thereby restraining the growth of the leisure travel industry.

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David Correa
Allied Market Research
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