growth rate tourism industry

The future of tourism: Bridging the labor gap, enhancing customer experience

As travel resumes and builds momentum, it’s becoming clear that tourism is resilient—there is an enduring desire to travel. Against all odds, international tourism rebounded in 2022: visitor numbers to Europe and the Middle East climbed to around 80 percent of 2019 levels, and the Americas recovered about 65 percent of prepandemic visitors 1 “Tourism set to return to pre-pandemic levels in some regions in 2023,” United Nations World Tourism Organization (UNWTO), January 17, 2023. —a number made more significant because it was reached without travelers from China, which had the world’s largest outbound travel market before the pandemic. 2 “ Outlook for China tourism 2023: Light at the end of the tunnel ,” McKinsey, May 9, 2023.

Recovery and growth are likely to continue. According to estimates from the World Tourism Organization (UNWTO) for 2023, international tourist arrivals could reach 80 to 95 percent of prepandemic levels depending on the extent of the economic slowdown, travel recovery in Asia–Pacific, and geopolitical tensions, among other factors. 3 “Tourism set to return to pre-pandemic levels in some regions in 2023,” United Nations World Tourism Organization (UNWTO), January 17, 2023. Similarly, the World Travel & Tourism Council (WTTC) forecasts that by the end of 2023, nearly half of the 185 countries in which the organization conducts research will have either recovered to prepandemic levels or be within 95 percent of full recovery. 4 “Global travel and tourism catapults into 2023 says WTTC,” World Travel & Tourism Council (WTTC), April 26, 2023.

Longer-term forecasts also point to optimism for the decade ahead. Travel and tourism GDP is predicted to grow, on average, at 5.8 percent a year between 2022 and 2032, outpacing the growth of the overall economy at an expected 2.7 percent a year. 5 Travel & Tourism economic impact 2022 , WTTC, August 2022.

So, is it all systems go for travel and tourism? Not really. The industry continues to face a prolonged and widespread labor shortage. After losing 62 million travel and tourism jobs in 2020, labor supply and demand remain out of balance. 6 “WTTC research reveals Travel & Tourism’s slow recovery is hitting jobs and growth worldwide,” World Travel & Tourism Council, October 6, 2021. Today, in the European Union, 11 percent of tourism jobs are likely to go unfilled; in the United States, that figure is 7 percent. 7 Travel & Tourism economic impact 2022 : Staff shortages, WTTC, August 2022.

There has been an exodus of tourism staff, particularly from customer-facing roles, to other sectors, and there is no sign that the industry will be able to bring all these people back. 8 Travel & Tourism economic impact 2022 : Staff shortages, WTTC, August 2022. Hotels, restaurants, cruises, airports, and airlines face staff shortages that can translate into operational, reputational, and financial difficulties. If unaddressed, these shortages may constrain the industry’s growth trajectory.

The current labor shortage may have its roots in factors related to the nature of work in the industry. Chronic workplace challenges, coupled with the effects of COVID-19, have culminated in an industry struggling to rebuild its workforce. Generally, tourism-related jobs are largely informal, partly due to high seasonality and weak regulation. And conditions such as excessively long working hours, low wages, a high turnover rate, and a lack of social protection tend to be most pronounced in an informal economy. Additionally, shift work, night work, and temporary or part-time employment are common in tourism.

The industry may need to revisit some fundamentals to build a far more sustainable future: either make the industry more attractive to talent (and put conditions in place to retain staff for longer periods) or improve products, services, and processes so that they complement existing staffing needs or solve existing pain points.

One solution could be to build a workforce with the mix of digital and interpersonal skills needed to keep up with travelers’ fast-changing requirements. The industry could make the most of available technology to provide customers with a digitally enhanced experience, resolve staff shortages, and improve working conditions.

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Complementing concierges with chatbots.

The pace of technological change has redefined customer expectations. Technology-driven services are often at customers’ fingertips, with no queues or waiting times. By contrast, the airport and airline disruption widely reported in the press over the summer of 2022 points to customers not receiving this same level of digital innovation when traveling.

Imagine the following travel experience: it’s 2035 and you start your long-awaited honeymoon to a tropical island. A virtual tour operator and a destination travel specialist booked your trip for you; you connected via videoconference to make your plans. Your itinerary was chosen with the support of generative AI , which analyzed your preferences, recommended personalized travel packages, and made real-time adjustments based on your feedback.

Before leaving home, you check in online and QR code your luggage. You travel to the airport by self-driving cab. After dropping off your luggage at the self-service counter, you pass through security and the biometric check. You access the premier lounge with the QR code on the airline’s loyalty card and help yourself to a glass of wine and a sandwich. After your flight, a prebooked, self-driving cab takes you to the resort. No need to check in—that was completed online ahead of time (including picking your room and making sure that the hotel’s virtual concierge arranged for red roses and a bottle of champagne to be delivered).

While your luggage is brought to the room by a baggage robot, your personal digital concierge presents the honeymoon itinerary with all the requested bookings. For the romantic dinner on the first night, you order your food via the restaurant app on the table and settle the bill likewise. So far, you’ve had very little human interaction. But at dinner, the sommelier chats with you in person about the wine. The next day, your sightseeing is made easier by the hotel app and digital guide—and you don’t get lost! With the aid of holographic technology, the virtual tour guide brings historical figures to life and takes your sightseeing experience to a whole new level. Then, as arranged, a local citizen meets you and takes you to their home to enjoy a local family dinner. The trip is seamless, there are no holdups or snags.

This scenario features less human interaction than a traditional trip—but it flows smoothly due to the underlying technology. The human interactions that do take place are authentic, meaningful, and add a special touch to the experience. This may be a far-fetched example, but the essence of the scenario is clear: use technology to ease typical travel pain points such as queues, misunderstandings, or misinformation, and elevate the quality of human interaction.

Travel with less human interaction may be considered a disruptive idea, as many travelers rely on and enjoy the human connection, the “service with a smile.” This will always be the case, but perhaps the time is right to think about bringing a digital experience into the mix. The industry may not need to depend exclusively on human beings to serve its customers. Perhaps the future of travel is physical, but digitally enhanced (and with a smile!).

Digital solutions are on the rise and can help bridge the labor gap

Digital innovation is improving customer experience across multiple industries. Car-sharing apps have overcome service-counter waiting times and endless paperwork that travelers traditionally had to cope with when renting a car. The same applies to time-consuming hotel check-in, check-out, and payment processes that can annoy weary customers. These pain points can be removed. For instance, in China, the Huazhu Hotels Group installed self-check-in kiosks that enable guests to check in or out in under 30 seconds. 9 “Huazhu Group targets lifestyle market opportunities,” ChinaTravelNews, May 27, 2021.

Technology meets hospitality

In 2019, Alibaba opened its FlyZoo Hotel in Huangzhou, described as a “290-room ultra-modern boutique, where technology meets hospitality.” 1 “Chinese e-commerce giant Alibaba has a hotel run almost entirely by robots that can serve food and fetch toiletries—take a look inside,” Business Insider, October 21, 2019; “FlyZoo Hotel: The hotel of the future or just more technology hype?,” Hotel Technology News, March 2019. The hotel was the first of its kind that instead of relying on traditional check-in and key card processes, allowed guests to manage reservations and make payments entirely from a mobile app, to check-in using self-service kiosks, and enter their rooms using facial-recognition technology.

The hotel is run almost entirely by robots that serve food and fetch toiletries and other sundries as needed. Each guest room has a voice-activated smart assistant to help guests with a variety of tasks, from adjusting the temperature, lights, curtains, and the TV to playing music and answering simple questions about the hotel and surroundings.

The hotel was developed by the company’s online travel platform, Fliggy, in tandem with Alibaba’s AI Labs and Alibaba Cloud technology with the goal of “leveraging cutting-edge tech to help transform the hospitality industry, one that keeps the sector current with the digital era we’re living in,” according to the company.

Adoption of some digitally enhanced services was accelerated during the pandemic in the quest for safer, contactless solutions. During the Winter Olympics in Beijing, a restaurant designed to keep physical contact to a minimum used a track system on the ceiling to deliver meals directly from the kitchen to the table. 10 “This Beijing Winter Games restaurant uses ceiling-based tracks,” Trendhunter, January 26, 2022. Customers around the world have become familiar with restaurants using apps to display menus, take orders, and accept payment, as well as hotels using robots to deliver luggage and room service (see sidebar “Technology meets hospitality”). Similarly, theme parks, cinemas, stadiums, and concert halls are deploying digital solutions such as facial recognition to optimize entrance control. Shanghai Disneyland, for example, offers annual pass holders the option to choose facial recognition to facilitate park entry. 11 “Facial recognition park entry,” Shanghai Disney Resort website.

Automation and digitization can also free up staff from attending to repetitive functions that could be handled more efficiently via an app and instead reserve the human touch for roles where staff can add the most value. For instance, technology can help customer-facing staff to provide a more personalized service. By accessing data analytics, frontline staff can have guests’ details and preferences at their fingertips. A trainee can become an experienced concierge in a short time, with the help of technology.

Apps and in-room tech: Unused market potential

According to Skift Research calculations, total revenue generated by guest apps and in-room technology in 2019 was approximately $293 million, including proprietary apps by hotel brands as well as third-party vendors. 1 “Hotel tech benchmark: Guest-facing technology 2022,” Skift Research, November 2022. The relatively low market penetration rate of this kind of tech points to around $2.4 billion in untapped revenue potential (exhibit).

Even though guest-facing technology is available—the kind that can facilitate contactless interactions and offer travelers convenience and personalized service—the industry is only beginning to explore its potential. A report by Skift Research shows that the hotel industry, in particular, has not tapped into tech’s potential. Only 11 percent of hotels and 25 percent of hotel rooms worldwide are supported by a hotel app or use in-room technology, and only 3 percent of hotels offer keyless entry. 12 “Hotel tech benchmark: Guest-facing technology 2022,” Skift Research, November 2022. Of the five types of technology examined (guest apps and in-room tech; virtual concierge; guest messaging and chatbots; digital check-in and kiosks; and keyless entry), all have relatively low market-penetration rates (see sidebar “Apps and in-room tech: Unused market potential”).

While apps, digitization, and new technology may be the answer to offering better customer experience, there is also the possibility that tourism may face competition from technological advances, particularly virtual experiences. Museums, attractions, and historical sites can be made interactive and, in some cases, more lifelike, through AR/VR technology that can enhance the physical travel experience by reconstructing historical places or events.

Up until now, tourism, arguably, was one of a few sectors that could not easily be replaced by tech. It was not possible to replicate the physical experience of traveling to another place. With the emerging metaverse , this might change. Travelers could potentially enjoy an event or experience from their sofa without any logistical snags, and without the commitment to traveling to another country for any length of time. For example, Google offers virtual tours of the Pyramids of Meroë in Sudan via an immersive online experience available in a range of languages. 13 Mariam Khaled Dabboussi, “Step into the Meroë pyramids with Google,” Google, May 17, 2022. And a crypto banking group, The BCB Group, has created a metaverse city that includes representations of some of the most visited destinations in the world, such as the Great Wall of China and the Statue of Liberty. According to BCB, the total cost of flights, transfers, and entry for all these landmarks would come to $7,600—while a virtual trip would cost just over $2. 14 “What impact can the Metaverse have on the travel industry?,” Middle East Economy, July 29, 2022.

The metaverse holds potential for business travel, too—the meeting, incentives, conferences, and exhibitions (MICE) sector in particular. Participants could take part in activities in the same immersive space while connecting from anywhere, dramatically reducing travel, venue, catering, and other costs. 15 “ Tourism in the metaverse: Can travel go virtual? ,” McKinsey, May 4, 2023.

The allure and convenience of such digital experiences make offering seamless, customer-centric travel and tourism in the real world all the more pressing.

Three innovations to solve hotel staffing shortages

Is the future contactless.

Given the advances in technology, and the many digital innovations and applications that already exist, there is potential for businesses across the travel and tourism spectrum to cope with labor shortages while improving customer experience. Process automation and digitization can also add to process efficiency. Taken together, a combination of outsourcing, remote work, and digital solutions can help to retain existing staff and reduce dependency on roles that employers are struggling to fill (exhibit).

Depending on the customer service approach and direct contact need, we estimate that the travel and tourism industry would be able to cope with a structural labor shortage of around 10 to 15 percent in the long run by operating more flexibly and increasing digital and automated efficiency—while offering the remaining staff an improved total work package.

Outsourcing and remote work could also help resolve the labor shortage

While COVID-19 pushed organizations in a wide variety of sectors to embrace remote work, there are many hospitality roles that rely on direct physical services that cannot be performed remotely, such as laundry, cleaning, maintenance, and facility management. If faced with staff shortages, these roles could be outsourced to third-party professional service providers, and existing staff could be reskilled to take up new positions.

In McKinsey’s experience, the total service cost of this type of work in a typical hotel can make up 10 percent of total operating costs. Most often, these roles are not guest facing. A professional and digital-based solution might become an integrated part of a third-party service for hotels looking to outsource this type of work.

One of the lessons learned in the aftermath of COVID-19 is that many tourism employees moved to similar positions in other sectors because they were disillusioned by working conditions in the industry . Specialist multisector companies have been able to shuffle their staff away from tourism to other sectors that offer steady employment or more regular working hours compared with the long hours and seasonal nature of work in tourism.

The remaining travel and tourism staff may be looking for more flexibility or the option to work from home. This can be an effective solution for retaining employees. For example, a travel agent with specific destination expertise could work from home or be consulted on an needs basis.

In instances where remote work or outsourcing is not viable, there are other solutions that the hospitality industry can explore to improve operational effectiveness as well as employee satisfaction. A more agile staffing model  can better match available labor with peaks and troughs in daily, or even hourly, demand. This could involve combining similar roles or cross-training staff so that they can switch roles. Redesigned roles could potentially improve employee satisfaction by empowering staff to explore new career paths within the hotel’s operations. Combined roles build skills across disciplines—for example, supporting a housekeeper to train and become proficient in other maintenance areas, or a front-desk associate to build managerial skills.

Where management or ownership is shared across properties, roles could be staffed to cover a network of sites, rather than individual hotels. By applying a combination of these approaches, hotels could reduce the number of staff hours needed to keep operations running at the same standard. 16 “ Three innovations to solve hotel staffing shortages ,” McKinsey, April 3, 2023.

Taken together, operational adjustments combined with greater use of technology could provide the tourism industry with a way of overcoming staffing challenges and giving customers the seamless digitally enhanced experiences they expect in other aspects of daily life.

In an industry facing a labor shortage, there are opportunities for tech innovations that can help travel and tourism businesses do more with less, while ensuring that remaining staff are engaged and motivated to stay in the industry. For travelers, this could mean fewer friendly faces, but more meaningful experiences and interactions.

Urs Binggeli is a senior expert in McKinsey’s Zurich office, Zi Chen is a capabilities and insights specialist in the Shanghai office, Steffen Köpke is a capabilities and insights expert in the Düsseldorf office, and Jackey Yu is a partner in the Hong Kong office.

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Travel & Tourism - Worldwide

• The Travel & Tourism market is projected to experience a significant increase in revenue in the coming years worldwide.
• By 2024, revenue is estimated to reach US$927.30bn and is projected to grow annually at a rate of 3.47%, resulting in a market volume of US$1,063.00bn by 2028.
• The largest market within Travel & Tourism is the Hotels market, which is projected to reach a market volume of US$446.50bn in 2024.
• Looking ahead, the number of users in the Hotels market is expected to increase to 1,397.00m users by 2028.
• In 2024, the user penetration rate was 25.9%, and it is expected to reach 28.1% by 2028.
• The average revenue per user (ARPU) is projected to reach US$0.46k.
• Online sales are expected to account for 76% of total revenue in the Travel & Tourism market by 2028.
• It is worth noting that United States is expected to generate the most revenue in this market, reaching US$199bn in 2024.
• Following the profound ramifications of the COVID-19 pandemic, the travel and tourism sector demonstrates robust indications of resurgence.

Key regions: Malaysia , Europe , Singapore , Vietnam , United States

Definition:

The Travel & Tourism market encompasses a diverse range of accommodation services catering to the needs and preferences of travelers. This dynamic market includes package holidays, hotel accommodations, private vacation rentals, camping experiences, and cruises.

The market consists of five further markets.

• The Cruises market covers multi-day vacation trips on a cruise ship. The Cruises market encompasses exclusively passenger ticket revenues.
• The Vacation Rentals market comprises of private accommodation bookings which includes private holiday homes and houses as well as short-term rental of private rooms or flats.
• The Hotels market includes stays in hotels and professionally run guest houses.
• The Package Holidays market comprises of travel deals that normally contain travel and accommodation sold for one price, although optional further provisions can be included such as catering and tourist services.
• The Camping market includes bookings at camping sites for pitches using tents, campervans, or trailers. These can be associated with big chains or privately managed campsites.

Additional Information:

The main performance indicators of the Travel & Tourism market are revenues, average revenue per user (ARPU), users and user penetration rates. Additionally, online and offline sales channel shares display the distribution of online and offline bookings. The ARPU refers to the average revenue one user generates per year while the revenue represents the total booking volume. Revenues are generated through both online and offline sales channels and include exclusively B2C revenues and users for the above-mentioned markets. Users represent the aggregated number of guests. Each user is only counted once per year. Additional definitions for each market can be found within the respective market pages.

The booking volume includes all booked travels made by users from the selected region, independent of the departure and arrival. The scope includes domestic and outbound travel.

Prominent players in this sector include online travel agencies (OTAs) like Expedia and Opodo, as well as tour operators such as TUI. Specialized platforms like Hotels.com, Booking.com, and Airbnb facilitate the online booking of hotels and private accommodations, contributing significantly to the market's vibrancy.

For further information on the data displayed, refer to the info button right next to each box.

• Bookings directly via the website of the service provider, travel agencies, online travel agencies (OTAs) or telephone

out-of-scope

• Business trips
• Other forms of trips (e.g. excursions, etc.)

Travel & Tourism

• Vacation Rentals
• Package Holidays
• Analyst Opinion

The Travel & Tourism market has been experiencing significant growth worldwide, driven by various factors such as increasing disposable income, ease of travel, and desire for unique experiences. Customer preferences: Travelers are increasingly seeking authentic and unique experiences, moving away from traditional tourist attractions to more off-the-beaten-path destinations. This shift in preferences has led to the rise of experiential travel, where immersive cultural experiences and interactions with locals are highly valued. Trends in the market: In the United States, there has been a noticeable trend towards sustainable and eco-friendly travel practices. Travelers are becoming more conscious of their environmental impact and are actively seeking out destinations and accommodations that prioritize sustainability. This has led to the growth of eco-tourism initiatives and the popularity of destinations known for their conservation efforts. Local special circumstances: In Europe, the rise of budget airlines and the Schengen Area agreement have made travel within the region more affordable and convenient. This has resulted in a significant increase in intra-European tourism, with travelers exploring multiple countries in a single trip. The diverse cultural offerings and close proximity of European countries make it an attractive destination for those seeking a mix of history, art, and culinary experiences. Underlying macroeconomic factors: The Asia-Pacific region has seen a surge in outbound tourism, driven by a growing middle class with higher disposable incomes. Countries like China and India have witnessed a significant increase in international travel, with travelers from these markets exploring destinations beyond their borders. This rise in outbound tourism has also led to an influx of international visitors to Asia-Pacific countries, boosting the tourism industry in the region.

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Additional notes:

• Sales Channels
• Global Comparison
• Key Market Indicators

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Global Tourism Statistics 2024:Facts and Forecasts

Home » Blog » Global Tourism Statistics 2024:Facts and Forecasts

After the massive hit of the COVID-19 pandemic. Global tourism trends tend to move towards an upward shift. This paradigm shift has a massive impact on tourism and related activities. So, we will delve more into Global Tourism Statistics 2024:Facts and Forecasts today.

There was a subsequent rise in GDP after the COVID-19 pandemic period . Statista predicted in 2022 that the tourism industry will get back on track as tourists tend to be inbound and outbound from place to place.

Table of contents

Global tourism analysis, global tourism statistics 2019, global tourism statistics 2020, global tourism statistics 2021, global tourism statistics 2022, global tourism statistics 202 3, global tourism statistics 2024 | predictive analysis, international tourist arrivals in 2024, global tourism contributions to gdp 2024, global tourism growth rate 2024, global tourism revenue growth rate 2024.

The tourism industry and activities started to flourish after the pandemic. The number started to rise again. Global Tourism Statistics predicted that the travel and tourism business will experience 18% growth in 2024.

This is the highest point after the pandemic period. Hotel bookings, travel, and tourism businesses are expected to reach new heights. Experts suggest it’s the best time to start your own travel and tourism business.

• International tourist arrivals worldwide were around 95,000 at the beginning of 2019.
• The growth rate of tourist arrivals was slower.
• Nearly $1.9 trillion was spent by tourists in 2019.
• Travel receipts were around $9.3 billion in 2019.

Global Tourism was about $8.9 trillion in 2019 . Tourists love to explore beautiful countries. And popular destinations. France tends to hold the Number 1 position in 2019 as more than 90 million tourists visit the country.

(Top 5 visited countries 2019)

Moreover, 2019 tourism was slightly disturbed by covid 19 from July. However, there were many popular destinations loved by tourists worldwide. 

In 2019, the total spending on world tourism reached a peak of $1.86 trillion, showing a growth of 1.81% compared to the previous year. 

This indicates that people tend to spend more on travel and tourism activities, contributing to the overall tourism industry’s economic enhancement. 

The increase in spending suggests a continued interest and investment in tourism experiences on a global scale.

There was a massive decline in the travel and tourism industry in 2020. The tourism industry declined by more than 67% compared to the previous year . This makes one of the greatest downward shifts in the tourism industry ever recorded after subsequent time.

Pacific island Fiji tends to face an economic crisis because of a decline in tourist and tourism activities. Countries relying totally on tourism were more affected this year.

From January to May 2020. International tourist arrivals declined by more than 56% similarly in April it was recorded with a decline of 97%.

(Decline in international tourist arrivals 2019 vs 2022))

The limited movement of people from place to place results in a massive loss for the aviation industry as well. 

Air passenger was reduced by almost 60.2% compared to 2019 . This creates the worst conditions for the airline industry. Among many industries airline industry was one of the most impacted as there was a decline in tourist flow.

• GDP of tourism ( 2.9 of GDP)  $624.7 billion was declined to $356.8 (1.7 of GDP) making it the greatest downfall of all time in tourism history.
• Total number of visitors in 2020 was comparatively low compared with the past 10 years of data.
• Tourism-dependent countries faced a major economic crisis.

Overall global tourism in 2020 didn’t grow that well the unpredictable circumstance has resulted in a massive decline in the GPD as well. There were approximately 1.5 billion tourist arrivals in 2019 and the number declined by more than 75% in 2020 the estimated tourist arrival in 2020 was around 381 million only. Compared with the 2019 tourist arrival the data fluctuation is very high.

The Tourism industry has gone through numerous uptrends and downtrends throughout the period. 2019 ended and 2020 was considered one of the most challenging years for the whole tourism industry. Regarding 2021 the tourism industry starts to rise at a minimal speed. 

In 2021 tourism industry start to gain speed at a minimal rate according to the popular data analytical site Statista. Global tourism worldwide increased by 4% in 2021 compared to 2020.

Matter of fact the international tourist arrival was 79% down compared with the 2019 tourist inbound data.

Recovering from the mass decline of 2020 the tourism industry started to increase with several 64.4% in 2021. The travel and tourism increment number in 2020 was only 50.7% 

(Decline in international tourist arrivals)

In 2021, the US had 22.1 million inbound arrivals, which is a 15% increase from 2020 and a 72% decrease from 2019.

• Overall increment in the tourism industry was recorded at more than 64.4 %
• Export revenues from international tourism dropped 59%.
• In 2021, the travel and tourism industry’s share of GDP increased from 1.54% in 2020 to 2.15% in 2021. 
• Compared to 2019 the contribution of GDP was still down in 2021 ( 49.1% ) only.
• Recovering from the pandemic travel and tourism businesses tend to increase by more than 362 billion dollars.

Regarding 2021 tourism status it has shown a little increment in terms of number compared with the 2020 data. The industry recorded a substantial 64.4% growth , surpassing the incremental rate in 2020.

Export revenues dropped by 59%, while the industry’s share of GDP improved from 1.54% in 2020 to 2.15% in 2021 . Despite signs of recovery, the sector has not reached its growth level in 2020.

Comparing the tourism condition with the year 2021 the number and data start to shift toward an upward curve. Analyzing the data deeply in 2022 total international tourism receipt reached the threshold of $1 trillion which is massive compared to the 2022 number.

However, the total receipts were still not able to reach the number of pre-pandemic. In 2022 more than 900 million tourists travel internationally. 

International tourist spending reached 64% of pre-pandemic levels. 2022 start to maintain sort of momentum to reach the peak point of travel and tourism activities.

   (Travel and tourism contribution over GDP from 2019 to 2022 )

• The total earned export revenue was still below the line ( 34 % ) below pre pre-pandemic level.
• $7.7 trillion contribution to global GDP
• Significant growth in spending of international visitors ( about 20.4% increment )
• 2022 travel and tourism generated more than 22 million new jobs . Significantly high in number compared to 2021 data.

The travel and tourism sector ultimately makes a contribution of 7.7 trillion dollars to global gross domestic product ( GDP ). The number is shifting in an upward trend compared with other previous years. 

The 2022 travel and tourism activities maintained a pace of recovery mode. The industry maintained to level up from the previous year. As it intends to create more jobs and contribute more to the global economy and GDP.

All the dimensions of the tourism industry in 2022  start to evolve and grow over time. Ultimately the revenue received from tourists hit a whopping $1 trillion and more than 900 million people travel globally.

The travel industry solely created millions of jobs and contributed to overall economic growth.

Popular website for travel and tourism data stated that more than 975 million tourists were traveling internationally in the year 2023. Compared with 2021 and 2022 this year seems to be beneficial for travel and tourism industries.

In the first quarter of 2023, there is a spike in the growth of tourist arrivals. International tourist arrival reached 80% of pre-pandemic level. This states that the year 2023 is a sort of recovery year for the tourism industry. After years the industry was able to reach this point.

The travel and tourism industry somehow was able to reach progress similar to the year 2019. Travel bookings were up r oughly 31% at the end of March 2023 compared to the same time in 2019.

The travel and tourism health progress up to 87% in the year 2023. The USA tends to be a prime actor as it was able to accumulate more than $190.39 billion U.S. dollars.

Followed by the supreme country China and Canada.

China accumulated around $154.02 billion U.S. dollars followed by Canada which is $16 billion U.S. dollars.

The total gap between Canada and the USA is around $174.39 billion U.S. dollars respectively. In terms of numbers, these countries seem to do well in the tourism industry.

  (Top 5 Visited Countries 2023 )

• Over 975 million tourists traveled worldwide in 2023 ( Jan to Sep)
• The total projected contribution of travel and tourism was around $2.2 trillion U.S. dollars toward global GDP.
• The total international receipt projected in 2023 was around USD 1.4 trillion .
• Compared with other years in 2023, there were more than 171 nights spent compared to 2022. 
• Rise in tourist traveling rate results into increment in increment in hotel occupancy rate up to 10% higher compared to the previous year.

Airline industries also tend to bounce back as revenues reach more than   $803 billion , Comparatively it’s higher than 2022 as it reached around 9.7%.

Certain external factors do impact the travel business globally. The economic sanctions on Russia by different nations have resulted in delays in travel and tourism as well. Similarly, the zero COVID strategy promulgated by China has also affected the tourism industry overall.

The momentum of global tourism could potentially shift to an upward curve if all external factors don’t interrupt travel and tourism activities.

2024 is regarded as one of the important years for the travel and tourism sector. As the impact of COVID-19 started to overcome the travel and tourism business all across the world started to gain momentum throughout the time.

There are thorough predictions made for 2024 tourism. Multiple analyses tend to show potential opportunities for the tourism sector. From 2019 to 2023 the industry of tourism was scattered by COVID-19 after the interference of COVID-19 the cycle of 2024 tourism got into rollercoaster rides.

However, global tourism spending is predicted to reach $2 trillion in 2024 . After a long period, it’s predicted that international travel trips will exceed pre-pandemic levels in 2024, marking a 3% increase from 2019 .

The overall tourism market will get to a new level. The prediction is that the travel and tourism market will reach $927.30 billion in 2024 . Which is one of the big numbers compared to the previous year’s global tourism statistics.

After lot’s of ups and downs finally the travel and tourism industry is getting into momentum. It’s expected that tourist arrivals in 2024 will increase by 17.23% from the past year i.e. 2023. If the industry can meet the expectation there will be massive changes in the overall tourism business.

• The expected international tourists is about 1.53 billion which is significantly large compared to the previous year.
• the GDP contribution by tourism in 2024 will be 10.6%
• Year-to-year growth in 2024 will be increased by a large number as expectation of over 17.24 % is made.
• Ultimately the revenue will be around US 9.4 billion American dollars .

In 2024, the travel and tourism industry is on the rise after facing challenges. There’s a big anticipation of a 17.23% increase in tourist arrivals compared to 2023.

  (International Tourist Arrival in 2024 )

If this expectation is met, it could bring significant positive changes to the overall tourism business.

The projected number of international tourists for 2024 is a substantial 1.53 billion, a noteworthy increase from the previous year.

The industry’s contribution to the global GDP in 2023 was 10.6%. Looking ahead, there’s an optimistic year-to-year growth forecast of over 17.24% in 2024.

In terms of revenue, the industry is expected to generate around US $9.4 billion . These promising figures indicate a strong recovery and growth for the travel and tourism sector in the coming year.

The travel and tourism industry is getting on track after facing challenges in recent years. For 2024, there is an optimistic growth outlook:

• Tourist arrivals are expected to increase by 17.23% from 2023 . If this matches the expectations, it could bring major positive impacts for the overall tourism business.
• International tourist projections sit at a substantial 1.53 billion for 2024, a significant jump from the previous year’s numbers.
• The industry contributed 10.6% to global GDP in 2023.
• For 2024, year-over-year growth forecasts are a promising 17.24%, indicating strong momentum.
• In terms of revenue generation, the travel sector could reach around USD 9.4 billion.

  (2024 Global Tourism Contribution To GDP)

These numbers and projections point to a rapid recovery and expansion period for international and domestic travel over the coming year.

More people are expected to take vacations and business trips that could greatly benefit tour operators, hotels, airlines, and other travel entities after facing struggles not too long ago.

If the above expectations and forecasts are fulfilled, 2024 is shaping up to be a beneficial year for travel and tourism when looking at tourist arrivals, GDP contributions, growth percentages, and total revenue creation. There seems to be renewed optimism across the sector.

Overall The travel and tourism industry holds a positive growth approach in 2024 according to projections:

• Global tourism saw significant declines in 2020 and 2021 due to the COVID-19 pandemic. However, momentum picked back up in 2022.
• For 2023, the estimated growth rate in global tourism is between 30% to 35% as the industry rebounds.
• Looking ahead to 2024 , the global tourism growth rate is forecasted to be around 34.7%.
• This would represent a noticeable jump from the expected 30-35% growth in 2023 showing sustained positive momentum.
• If 2024 hits the projected 34.7% in tourism growth , it would take global travel significantly above 2019 volumes indicating a full industry comeback has been achieved.
• This global growth also implies strong performance in major tourism markets across different regions like Europe, Asia Pacific, the Americas, the Middle East, and Africa.

  (Global Tourism Growth Rate 2024)

Ultimately, 2024 is setting up to be another very high growth year for travel globally with expectations of over one-third increase in tourism versus 2023 numbers.

All signals point to a sector that has recovered to pre-pandemic strength and managed to undo the large drops observed in 2020 and 2021.

International tourist arrivals are projected to reach 1.53 billion, representing a substantial recovery with an expected year-over-year growth of 17.24% from the 975 million arrivals in 2023.

After facing major challenges in 2020 and 2021, the tourism industry is all set for substantial revenue growth in 2024:

• Global tourism revenue saw a major decline of nearly 50% at the peak of the pandemic. This significantly impacted many travel businesses and destinations.
• A rebound is already underway in 2022 and is expected to continue accelerating through 2023 with an estimated 30-35% growth rate .
• For 2024, global tourism revenues are forecasted to grow around 34.7% year-over-year.
• Gaining a 34.7% revenue growth target would indicate tourism has fully recovered from the pandemic demand shock and is expanding rapidly again.

  (Global Tourism Revenue Growth 2024)

If achieved, 2024 would likely represent the highest-ever revenues for the tourism industry globally surpassing pre-pandemic levels.

The projections for a nearly 35% boost in tourism revenues globally paint an extremely optimistic picture of what lies ahead for the sector in 2024 as demand swells.

This rapid growth trajectory beyond 2023 forecasts shows tourism maintaining great momentum as a key recovery success story among industries worldwide.

The overview for tourism in 2024 is highly positive across expected metrics. International tourist arrivals are forecasted to hit 1.5 billion, representing a rapid 17.23% increase from 2023’s estimates, elevating volumes well beyond pre-pandemic levels.

The sector’s contribution to global GDP, which recorded 10.6% in 2023, is also expected to rise considerably in 2024, reflecting its full rise in economic impact. Most notably, tourism revenues could grow up to 34.7% year-over-year, reaching around $9.4 billion globally .

This Global Tourism Statistics 2024:Facts and Forecasts would be the highest growth rate realized since before the COVID-19 downturn,, these projections point to 2024 being a standout year as the industry looks positively to completely negate pandemic losses and reach new historical highs across metrics like tourist arrivals, revenues, and GDP.

Yam Bahadur Chhetri is a content writer and vivid contributor to the WordPress community and a WordPress enthusiast with an experience of 7+ years in the relative field. He also loves to develop WordPress Themes, Plugins, and custom WordPress development for clients.

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"People want to travel": 4 sector leaders say that tourism will change and grow

The global travel and tourism industry's post-pandemic recovery is gaining pace as the world’s pent-up desire for travel rekindles. Image:  Unsplash/Anete Lūsiņa

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Shinya katanozaka, gilda perez-alvarado, stephen kaufer.

Listen to the article

• In 2020 alone, the travel and tourism industry lost $4.5 trillion in GDP and 62 million jobs - the road to recovery remains long.
• The World Economic Forum’s latest Travel & Tourism Development Index gives expert insights on how the sector will recover and grow.
• We asked four business leaders in the sector to reflect on the state of its recovery, lessons learned from the pandemic, and the conditions that are critical for the future success of travel and tourism businesses and destinations.

The global travel and tourism sector’s post-pandemic recovery is gaining pace as the world’s pent-up desire for travel rekindles. The difference in international tourist arrivals in January 2021 and a similar period in January 2022 was as much as the growth in all of 2021. However, with $4.5 trillion in GDP and 62 million jobs lost in 2020 alone, the road to recovery remains long.

A few factors will greatly determine how the sector performs. These include travel restrictions, vaccination rates and health security, changing market dynamics and consumer preferences, and the ability of businesses and destinations to adapt. At the same time, the sector will need to prepare for future shocks.

The TTDI benchmarks and measures “the set of factors and policies that enable the sustainable and resilient development of the T&T sector, which in turn contributes to the development of a country”. The TTDI is a direct evolution of the long-running Travel and Tourism Competitiveness Index (TTCI), with the change reflecting the index’s increased coverage of T&T development concepts, including sustainability and resilience impact on T&T growth and is designed to highlight the sector’s role in broader economic and social development as well as the need for T&T stakeholder collaboration to mitigate the impact of the pandemic, bolster the recovery and deal with future challenges and risks. Some of the most notable framework and methodology differences between the TTCI and TTDI include the additions of new pillars, including Non-Leisure Resources, Socioeconomic Resilience and Conditions, and T&T Demand Pressure and Impact. Please see the Technical notes and methodology. section to learn more about the index and the differences between the TTCI and TTDI.

The World Economic Forum's latest Travel & Tourism Development Index highlights many of these aspects, including the opportunity and need to rebuild the travel and tourism sector for the better by making it more inclusive, sustainable, and resilient. This will unleash its potential to drive future economic and social progress.

Within this context, we asked four business leaders in the sector to reflect on the state of its recovery, lessons learned from the pandemic, and the conditions that are critical for the future success of travel and tourism businesses and destinations.

Have you read?

Are you a 'bleisure' traveller, what is a ‘vaccine passport’ and will you need one the next time you travel, a travel boom is looming. but is the industry ready, how to follow davos 2022, “the way we live and work has changed because of the pandemic and the way we travel has changed as well”.

Tony Capuano, CEO, Marriott International

Despite the challenges created by the COVID-19 pandemic, the future looks bright for travel and tourism. Across the globe, people are already getting back on the road. Demand for travel is incredibly resilient and as vaccination rates have risen and restrictions eased, travel has rebounded quickly, often led by leisure.

The way many of us live and work has changed because of the pandemic and the way we travel has changed as well. New categories of travel have emerged. The rise of “bleisure” travel is one example – combining elements of business and leisure travel into a single trip. Newly flexible work arrangements, including the opportunity for many knowledge workers to work remotely, have created opportunities for extended travel, not limited by a Monday to Friday “9 to 5” workweek in the office.

To capitalize on this renewed and growing demand for new travel experiences, industry must join governments and policymakers to ensure that the right conditions are in place to welcome travellers as they prepare to get back on the road again, particularly those who cross international borders. Thus far, much of the recovery has been led by domestic and leisure travel. The incremental recovery of business and international travel, however, will be significant for the broader industry and the millions who make their livelihoods through travel and tourism.

Looking ahead to future challenges to the sector, be they public health conditions, international crises, or climate impacts, global coordination will be the essential component in tackling difficult circumstances head-on. International agreement on common – or at least compatible – standards and decision-making frameworks around global travel is key. Leveraging existing organizations and processes to achieve consensus as challenges emerge will help reduce risk and improve collaboration while keeping borders open.

“The travel and tourism sector will not be able to survive unless it adapts to the virtual market and sustainability conscience travellers”

Shinya Katanozaka, Representative Director, Chairman, ANA Holdings Inc.

At a time when people’s movements are still being restricted by the pandemic, there is a strong, renewed sense that people want to travel and that they want to go places for business and leisure.

In that respect, the biggest change has been in the very concept of “travel.”

A prime example is the rapid expansion of the market for “virtual travel.” This trend has been accelerated not only by advances in digital technologies, but also by the protracted pandemic. The travel and tourism sector will not be able to survive unless it adapts to this new market.

However, this is not as simple as a shift from “real” to “virtual.” Virtual experiences will flow back into a rediscovery of the value of real experiences. And beyond that, to a hunger for real experiences with clearer and more diverse purposes. The hope is that this meeting of virtual and actual will bring balance and synergy the industry.

The pandemic has also seen the emergence of the “sustainability-conscious” traveller, which means that the aviation industry and others are now facing the challenge of adding decarbonization to their value proposition. This trend will force a re-examination of what travel itself should look like and how sustainable practices can be incorporated and communicated. Addressing this challenge will also require stronger collaboration across the entire industry. We believe that this will play an important role in the industry’s revitalization as it recovers from the pandemic.

How is the World Economic Forum promoting sustainable and inclusive mobility systems?

The World Economic Forum’s Platform for Shaping the Future of Mobility works across four industries: aerospace and drones; automotive and new mobility; aviation travel and tourism; and supply chain and transport. It aims to ensure that the future of mobility is safe, clean, and inclusive.

• Through the Clean Skies for Tomorrow Coalition , more than 100 companies are working together to power global aviation with 10% sustainable aviation fuel by 2030.
• In collaboration with UNICEF, the Forum developed a charter with leading shipping, airlines and logistics to support COVAX in delivering more than 1 billion COVID-19 vaccines to vulnerable communities worldwide.
• The Road Freight Zero Project and P4G-Getting to Zero Coalition have led to outcomes demonstrating the rationale, costs and opportunities for accelerating the transition to zero emission freight.
• The Medicine from the Sky initiative is using drones to deliver vaccines and medicine to remote areas in India, completing over 300 successful trials.
• The Forum’s Target True Zero initiative is working to accelerate the deployment and scaling of zero emission aviation, leveraging electric and hydrogen flight technologies.
• In collaboration with the City of Los Angeles, Federal Aviation Administration, and NASA, the Forum developed the Principles of the Urban Sky to help adopt Urban Air Mobility in cities worldwide.
• The Forum led the development of the Space Sustainability Rating to incentivize and promote a more safe and sustainable approach to space mission management and debris mitigation in orbit.
• The Circular Cars Initiative is informing the automotive circularity policy agenda, following the endorsement from European Commission and Zero Emission Vehicle Transition Council countries, and is now invited to support China’s policy roadmap.
• The Moving India network is working with policymakers to advance electric vehicle manufacturing policies, ignite adoption of zero emission road freight vehicles, and finance the transition.
• The Urban Mobility Scorecards initiative – led by the Forum’s Global New Mobility Coalition – is bringing together mobility operators and cities to benchmark the transition to sustainable urban mobility systems.

Contact us for more information on how to get involved.

“The tourism industry must advocate for better protection of small businesses”

Gilda Perez-Alvarado, Global CEO, JLL Hotels & Hospitality

In the next few years, I think sustainability practices will become more prevalent as travellers become both more aware and interested in what countries, destinations and regions are doing in the sustainability space. Both core environmental pieces, such as water and air, and a general approach to sustainability are going to be important.

Additionally, I think conservation becomes more important in terms of how destinations and countries explain what they are doing, as the importance of climate change and natural resources are going to be critical and become top of mind for travellers.

The second part to this is we may see more interest in outdoor events going forward because it creates that sort of natural social distancing, if you will, or that natural safety piece. Doing outdoor activities such as outdoor dining, hiking and festivals may be a more appealing alternative to overcrowded events and spaces.

A lot of lessons were learned over the last few years, but one of the biggest ones was the importance of small business. As an industry, we must protect small business better. We need to have programmes outlined that successfully help small businesses get through challenging times.

Unfortunately, during the pandemic, many small businesses shut down and may never return. Small businesses are important to the travel and tourism sector because they bring uniqueness to destinations. People don’t travel to visit the same places they could visit at home; they prefer unique experiences that are only offered by specific businesses. If you were to remove all the small businesses from a destination, it would be a very different experience.

“Data shows that the majority of travellers want to explore destinations in a more immersive and experiential way”

Steve Kaufer, Co-Founder & CEO, Tripadvisor

We’re on the verge of a travel renaissance. The pandemic might have interrupted the global travel experience, but people are slowly coming out of the bubble. Businesses need to acknowledge the continued desire to feel safe when travelling. A Tripadvisor survey revealed that three-quarters (76%) of travellers will still make destination choices based on low COVID-19 infection rates.

As such, efforts to showcase how businesses care for travellers - be it by deep cleaning their properties or making items like hand sanitizer readily available - need to be ingrained within tourism operations moving forward.

But travel will also evolve in other ways, and as an industry, we need to be prepared to think digitally, and reimagine our use of physical space.

Hotels will become dynamic meeting places for teams to bond in our new hybrid work style. Lodgings near major corporate headquarters will benefit from an influx of bookings from employees convening for longer periods. They will also make way for the “bleisure” traveller who mixes business trips with leisure. Hotels in unique locales will become feasible workspaces. Employers should prepare for their workers to tag on a few extra days to get some rest and relaxation after on-location company gatherings.

Beyond the pandemic, travellers will also want to explore the world differently, see new places and do new things. Our data reveals that the majority want to explore destinations in a more immersive and experiential way, and to feel more connected to the history and culture. While seeing the top of the Empire State building has been a typical excursion for tourists in New York city, visitors will become more drawn to intimate activities like taking a cooking class in Brooklyn with a family of pizza makers who go back generations. This will undoubtedly be a significant area of growth in the travel and tourism industry.

Governments would be smart to plan as well, and to consider an international playbook that helps prepare us for the next public health crisis, inclusive of universal vaccine passports and policies that get us through borders faster.

Understanding these key trends - the ongoing need to feel safe and the growing desire to travel differently - and planning for the next crisis will be essential for governments, destinations, and tourism businesses to succeed in the efforts to keep the world travelling.

Report Description

Table of content, competitive landscape, methodology.

• Consumer Goods
• Travel & Luxury Travel
• Tourism Market Size, Share, Growth & Industry Trends [2032]

Tourism Market

Segments - by Travel Days (Within 7 Days, More Than 15 Days, and 7-15 Days), Travel Type (Business Spending and Leisure Spending), and Region (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2024–2032

Debadatta Patel

Fact-checked by:

Partha Paul

Tourism Market Outlook 2032

The global tourism market size was USD 12.4 Trillion in 2023 and is projected to reach USD 23.1 Trillion by 2032 , expanding at a CAGR of 5.4% during 2024–2032 . The market growth is attributed to the increasing standard of living and mobility. Increasing global mobility and disposable income are expected to boost the market. Tourism offers immense opportunities for economic growth and job creation as one of the world's largest economic sectors. It generates revenue, fosters cultural exchange, promotes peace, and helps preserve natural and cultural heritage.

Rising popularity of experiential tourism is projected to signify a shift in consumer preferences from traditional sightseeing to immersive experiences. Today's tourists seek authentic, personalized experiences that allow them to connect with local cultures, learn new skills, and gain a deeper understanding of their destinations. This trend is driving innovation in the tourism industry, with businesses developing unique offerings to cater to these evolving demands.

Impact of Artificial Intelligence (AI) in Tourism Market

Artificial Intelligence (AI) has a significant impact on tourism market. AI's role in enhancing customer service is particularly noteworthy, with chatbots and virtual assistants providing round-the-clock assistance, thereby improving response times and customer satisfaction. AI's ability to analyze vast amounts of data allows for the creation of highly personalized travel recommendations, enhancing customer engagement and fostering loyalty. AI-powered predictive analytics enable businesses to forecast demand accurately, optimize pricing strategies, and manage resources effectively on the operational side. Additionally, AI's role in automating routine tasks reduces operational costs and allows staff to focus on complex, value-adding activities.

Tourism Market Dynamics

Major drivers.

Surging globalization is expected to drive the market. Travel becomes easier and accessible as the world becomes interconnected. This trend is projected to boost the market, as it facilitates international travel and promotes cultural exchange. Rising government initiatives promoting tourism is projected to propel the market. Governments worldwide are estimated to invest in tourism infrastructure and marketing to attract international visitors. These initiatives are expected to boost the tourism market, as they enhance the accessibility and attractiveness of travel destinations.

Existing Restraints

Increasing environmental concerns are expected to pose a significant challenge to the market. The industry's impact on natural resources, pollution, and climate change is leading to growing scrutiny. This trend is projected to intensify, leading to stricter regulations and a decrease in tourist activities in certain regions. Growing security concerns are projected to act as a restraint on the market. Instances of terrorism, political instability, and natural disasters significantly deter tourists. This factor is likely to continue to influence the decisions of travelers, limiting the market.

Emerging Opportunities

­Increasing adoption of digital technology is projected to present a significant opportunity for the market. An increasing number of travelers are expected to use digital platforms for booking and planning their trips as technology advances. This trend is projected to open new avenues for market players, as they offer innovative and convenient digital solutions for travelers. High demand for wellness and medical tourism is expected to present potential for the market. Consumers are projected to seek travel experiences that promote wellness as health and wellness become important to them. This demand is likely to create opportunities for market players, as they develop and offer wellness-focused travel products and services.

Scope of the Tourism Market Report

The market report includes an assessment of the market trends, segments, and regional markets. Overview and dynamics are included in the report.

Regional Outlook

In terms of region , the global tourism market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Europe, specifically France held a major market share in 2023 due to its rich cultural heritage, world-renowned landmarks such as the Eiffel Tower and the Louvre, and its reputation as a global culinary capital. Additionally, France's well-developed infrastructure and strategic location in Europe, which allows for easy travel from neighboring countries, further bolstered its market share. The market in Asia Pacific, particularly China is projected to grow at a significant pace in the years to come owing to China's rich cultural history, diverse landscapes, and rapid urban development making it an increasingly attractive destination for international travelers. China's growing middle class is driving domestic tourism , contributing to its overall market share. The government of China’s initiatives to boost tourism, such as improving infrastructure and easing visa restrictions, are expected to enhance its appeal as a travel destination, thereby driving its market.

Tourism Market Segment Insights

Travel days segment analysis.

Based on travel days , the tourism market is divided into within 7 days, more than 15 days, and 7-15 days. The 7-15 days segment held the major share of the market in 2023 due to this duration offering an optimal balance between exploration and relaxation, enabling travelers to immerse themselves in the destination without feeling rushed. The rise of this segment is attributed to the increasing preference for comprehensive travel experiences that allow for a deeper understanding of the local culture and environment. The 7 days segment is expected to expand at a significant growth rate in the coming years owing to the growing demand for short, frequent getaways that provide a quick respite from daily routines. The convenience and affordability of these shorter trips and the increasing availability of weekend packages and city breaks, is expected to fuel the segment.

Travel Type Segment Analysis

On the basis of travel type , the global market is segregated into business spending and leisure spending. The business spending segment held largest market share in 2023 due to the necessity of face-to-face meetings and networking events in many industries. Despite the rise of digital communication tools, in-person interactions remain crucial in the business world, leading to a steady demand for business travel. The leisure spending segment is anticipated to grow at a substantial CAGR during the forecast period owing to the growing emphasis on work-life balance and the recognition of travel as a means of relaxation and rejuvenation. The increasing disposable income and the rising trend of experiential travel is projected to drive the segment in the coming years.

The tourism market has been segmented on the basis of

Travel Days

• Within 7 Days
• More Than 15 Days

Travel Type

• Business Spending
• Leisure Spending
• Asia Pacific
• North America
• Latin America
• Middle East & Africa

Key Players

• Austin Adventures, Inc.
• Butterfield & Robinson Inc.
• Cox & Kings Ltd.
• Discovery Nomads
• G Adventures
• Geographic Expeditions Inc.
• Intrepid Group, ltd.
• Mountain Travel Sobek
• Row Adventures

Key players competing in the global tourism market are Austin Adventures, Inc.; Butterfield & Robinson Inc.; Cox & Kings Ltd.; Discovery Nomads; G Adventures; Geographic Expeditions Inc.; Intrepid Group, ltd.; Mountain Travel Sobek; Row Adventures; and Tui Group. These companies use development strategies including mergers, acquisitions, partnerships, collaboration, and product launches to expand their consumer base worldwide.

In January 2021 , Geographic Expeditions Inc. , a key market player, initiated a three-country expedition across the Horn of Africa, encompassing less explored destinations such as Eritrea, Djibouti, and the self-proclaimed nation of Somaliland.

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By Bastian Herre, Veronika Samborska and Max Roser

Tourism has massively increased in recent decades. Aviation has opened up travel from domestic to international. Before the COVID-19 pandemic, the number of international visits had more than doubled since 2000.

Tourism can be important for both the travelers and the people in the countries they visit.

For visitors, traveling can increase their understanding of and appreciation for people in other countries and their cultures.

And in many countries, many people rely on tourism for their income. In some, it is one of the largest industries.

But tourism also has externalities: it contributes to global carbon emissions and can encroach on local environments and cultures.

On this page, you can find data and visualizations on the history and current state of tourism across the world.

Interactive Charts on Tourism

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• Hospitality Industry

Hospitality Industry statistics to have on your radar 2024

November 01, 2023 •

11 min reading

The hospitality industry is a vast sector with many different categories that include recreation, lodging, entertainment, food and beverage which are constantly evolving. Due to the overwhelming amount of data available today, it has become increasingly challenging for industry players to gather all the necessary hospitality statistics to keep up with the latest trends. As a result, staying informed and up-to-date has become an impossible task.

Despite being an exhilarating career path with many avenues which demand a diverse skill-set , the hospitality industry is currently struggling to fill open positions. This is partly due to the changing nature of jobs and employee expectations. Customer needs and expectations have also evolved in recent times, largely off the back of the global pandemic of 2020 and 2021 which spurred a seismic shift in industry trends .

In the absence of access to data which tells a story, industry players are finding it increasingly challenging to optimize their social and digital strategies. This is especially problematic for hoteliers and destination marketers who are already overwhelmed with their day-to-day responsibilities.

In this comprehensive article, we have gathered a wealth of hospitality statistics and data that will equip you with the insights you need. Our goal is to empower you to harness the power of analytics in the hospitality industry to drive innovation, exceed customer expectations, and achieve remarkable value.

Numbers to take your business to the next level

Trends in the hospitality industry have always been in a state of flux because client demands are always shifting.

Understanding hospitality industry statistics allows you to properly equip yourself to handle your changed client needs for your business to grow rapidly in this new environment. They will help you know what you need to do to succeed and come up with strategies to take your business to the next level.

Current state of the Hospitality Industry

By examining general statistics, you can gain insights into the present condition of the hospitality industry and gain a glimpse into its future.

• The travel industry is poised for a robust comeback
• in 2024, bringing a ray of hope for hoteliers who have been eagerly awaiting positive signs. Room demand is set to reach an all-time high in 2024. STR, via (CoStar).
• Hotel occupancy will increase 2.5% globally next year.
• Hotel average daily rate (ADR) is projected to grow by 4.9% in the next 12 months. ( Siteminder).

The industry anticipates a steady growth rate

Industries such as hospitality, which were affected by COVID-19 safety measures, are seeing some impressive growth rates now that the restrictions are being relaxed worldwide. The statistics below indicate just how impressive the current and future growth rates are.

• The hospitality industry experienced a remarkable growth from $4,390.59 billion in 2022 to $4,699.57 billion in 2023, achieving a compound annual growth rate (CAGR) of 7.0%. This significant expansion is a testament to the industry's resilience and ability to bounce back from the challenges posed over recent years. ( Hospitality Global Market Report 2023)
• The projected growth of the global hospitality market is set to soar to a staggering $5,816.66 billion by 2027, with a remarkable compound annual growth rate (CAGR) of 5.5%. ( Hospitality Global market report 2022 )

Growth trends in specific sub-sectors

Due to changes in consumer expectations, preferences and the rapid advancement of technology (among other factors), some areas in the hospitality industry are seeing a bigger growth rate than others. The statistics below shed light on these areas.

• The Online Food Delivery Market, which includes both Grocery Delivery and Meal Delivery services, experienced significant growth during the COVID-19 Pandemic. This market is projected to continue its upward trajectory with a compound annual growth rate (CAGR 2023-2028) of 11.47%. As a result, the market volume is expected to reach a staggering US$1.79tn by 2028. (Statista).
• The bleisure market continues to rise —business trips which are extended for leisure purposed. The bleisure tourism market was estimated to be valued at nearly US$ 594.51 billion in 2023, and is predicted to continue to grow to $731.4 billion by 2032, with a CAGR of 8.9% from 2023 to 2032. ( Future Market Insights).
• The global health and wellness market is estimated to reach almost seven trillion U.S. dollars by 2025. (Statista).

Key stakeholders' market share and consumer influence

Similar to the different growth rates in different areas in the same hospitality industry, not all players in the industry saw the same changes or are seeing the same growth rate. This is due to size, services, products and way of doing business. The statistics below highlight these differences.

• Airbnb's market value reached $92.11 billion in U.S. dollars in 2023, representing a significant increase from $54.13 billion the previous year. However, it has experienced a decline from its peak valuation in 2021, surpassing a staggering $100 billion. (Statista).
• Airbnb holds a commanding market share of over 20% in the vacation rental industry but it seems to be declining due to rising rental pricing and overwhelming choice of properties. ( HelpLama).
• Booking.com is the most valuable travel and tourism brand in the world, with a market capitlization of $9B. ( Companies Market Cap).
• As of 2023 Hilton is the most valuable hotel brand in the world, with a brand value of $11.7B in 2023, although the Wyndam group has the most properties. ( Brand Directory) .
• It is estimated that a further 2,707 hotels will open their doors globally in 2024. ( Statista )

Jobs & employment in Hospitality & Leisure

It goes without saying that as travel died down during the pandemic, so did jobs in the hospitality industry. Whilst travel restrictions are firmly a thing of the past, the hospitality jobs market has been slow to bounce back and is still recovering now. Many of those laid off workers in 2020 found more reliable jobs with better perks and more sociable hours elsewhere. When should we expect a full recovery? The statistics answer these questions best.

• The Travel and Tourism sector is expected to employ approximately 320 million individuals in 2023, showcasing a steady growth trend after experiencing a decline in numbers in 2020. This decline saw employment figures drop from 334 million in 2019 to 271 million. However, the industry is now on the path to recovery, with employment opportunities steadily increasing once again. ( Unilever ).
• Discover the types of jobs available in this exciting growth sector.
• Hotels will struggle with staffing shortages until 2025 when the industry is expected to make a true adjusted recovery. ( STR and Tourism Economics )
• Only 28% of hospitality workers are on full-time hours. ( Labour Market Insights) .

Travel & Tourism

If 2022 was the year travel returned following the pandemic, 2023 was all about making up for lost time and ticking off bucket list items. In short, there's a healthy outlook to the travel and tourism sector in 2024 and beyond. To better understand the current changes and future of travel and tourism, we have compiled the statistics below.

General Travel & Tourism industry statistics

The general travel and tourism statistics below show the current and future state of the travel and tourism sector as a whole.

• The projected market volume is set to reach an impressive US$1,063.00 billion by 2028, with revenue expected to display a steady annual growth rate (CAGR 2023-2028) of 4.42%. ( Statista ).
• By 2028, online sales are projected to account for a staggering 76% of total revenue in the Travel & Tourism market. (Statista).

Growth trends in specific areas

The growth of the travel and tourism sector has been influenced by several factors including ease of access to information, an increase in the amount of paid leave, and rapid urbanization among others. Despite the pandemic slump, the industry is now doing well and is projected to do even better over the next few years, as indicated by the following statistics.

• Global tourism expenditure is projected to reach USD2 trillion, surpassing previous records driven by the strong demand for leisure travel. ( Euromonitor International ).
• As employees strive for a better work/life balance, the resurgence of business travel becomes a more intricate affair. In line with this shift, bleisure travel is poised to make a significant impact, with predictions indicating that it will soar to an impressive USD300 billion by 2024. This trend highlights the growing desire among professionals to combine work and leisure, creating a unique and enriching travel experience. ( Euromonitor International ).
• These 5 countries will be the fastest growing tourism destinations in 2024: Tunisia, Mexico, Morocco, Dominican Republic, and Sri Lanka. (Travel Off Path) .

Domestic vs. international travel

The statistics below help to better understand the "new traveler" whos is most likely planning 2 domestic trips and 2 international trips in 2024.

• International travel has rebounded post pandemic however going forward into 2024 it's clear that whilst consumer sentiment is very much in favor of international travel, domestic travel is much more budget friendly. ( Travel + Leisure ).
• Global business travel will fully recover by 2024. It is forecast to increase by 14% in 2022, with the US and China seeing the largest growth (30% each). ( Leslie Josephs )

Air, cruise & ground transport

The widespread adoption of the internet as a source of information, the ease of mobility and increased awareness of new destinations have brought significant changes to how consumers travel. The statistics below show how much travel has changed and what to expect.

• Global flight numbers were still below pre-pandemic levels at the end of 2023. According to the International Air Transport Association, global airlines anticipate that approximately 4.35 billion individuals took flights in 2023, a slight decrease from the 4.54 billion flyers in 2019.
• In the global airline industry, it was anticipated that 2023 brought in net profits of $9.8 billion, although these profits will come with a razor-thin net profit margin of 1.2%. ( Mint )
• Rail transport is set to experience exponential growth in 2024, emerging as the fastest-growing travel category worldwide with an impressive growth rate of 35.6% over the course of 2023-2024. ( Euromonitor International ).
• According to some travel experts, fly-to-the-meeting and fly-back-from-the-meeting day trips will stop being popular as more people prefer multi-day bleisure trips. ( SAP Concur Study of Global Business Traveler )

Jobs & employment in Travel & Tourism

As it was with all other sectors and industries, the travel and tourism sector experienced a labor shortage in 2023, but will it continue?

• Jobs in travel and tourism were still below pre-pandemic levels at the end of 2023 at a projected 320 million jobs. But with the growing demand for travel, jobs in this sector are set to rise to 430 million by 2033. ( Statista ).
• Candidates for these open positions have different expectations and priorities compared to those before the pandemic. They expect flexible working arrangements, skills training, and diversity and inclusion. Hotels will have to adapt to fill open positions. ( AHLA )
• New positions are opening up that are centred around digitalization, technology and sustainability .

Demographic statistics: Who's travelling in 2024?

Different segments play different roles in the travel and tourism industry. To fine-tune your digital strategy, you have to know your target market well and understand what they expect when they travel. Here are a few stats that show some key domgraphics that may be relevant to your business.

• In the modern era, travel has become increasingly digitalized, with 67% of consumers projected to make their travel bookings online in the year 2024.
• An interesting trend among post-pandemic travelers is the shift towards a younger demographic, with millennials (aged 30-44) comprising the largest portion of Wellness Worshippers, Leisure Seekers, Luxury Seekers, and Digital Travelers, as revealed by Euromonitor's Voice of the Consumer: Travel Survey. This highlights the changing preferences and behaviors of travelers in the modern era.
• Luxury Seekers are most commonly found in countries across the Middle East and Asia Pacific, while Eco-Adventurers tend to be prevalent in both Asia Pacific and Europe. On the other hand, Cultural Explorers are predominantly found in various countries throughout Europe.
• There is expected to be a 15% growth in sales of sports tourism packages sold through travel intermediaries from 2023 to 2024. ( Euromonitor International ).

Hospitality & Travel is evolving at speed

In 2024, the hospitality and travel sectors will be evolving at a rate of knots. Vacant positions and shifting consumer preferences define the landscape. Seamless online booking is now a necessity, just the beginning of a guest-centric approach. Elevating the experience means personalized on-site services, setting leaders apart.

Yet, beyond technology lies a deeper need—embracing diversity and inclusion as fundamental values. To cater to the evolving traveler, a blend of high-tech solutions and high-touch experiences aligning with their beliefs is vital. Statistics serve as signposts in this transformative journey. Adaptability is the key to survival, while a comprehensive guest journey and commitment to diversity steer success.

Amidst change, strategies demand recalibration. Embrace adaptability, shape a holistic guest experience, and embed diversity and inclusion into your brand. These principles navigate the industry toward leadership in the evolving hospitality and travel landscape of 2024.

Keep reading

What is the Hospitality Industry? All your questions answered

Mar 28, 2024

How to manage cultural diversity in hospitality - A quick guide

Mar 22, 2024

Q&A with Dr. Mori: A discussion about research & knowledge-sharing

Mar 21, 2024

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• Tourism Market
• Hospitality & Tourism

Tourism Market Size, Share, and Growth, Analysis Research Report – Segmented By Type (International Tourism and Domestic/Local Tourism), Purpose (Adventure Tourism, Business Travel, Conference or Seminar Travel, Family and Friend Visits and Others), and Region - Industry Forecast of 2022 to 2027.

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• Description

Tourism Market Size & Growth (2022 - 2027):

The Global  Tourism Market is predicted to raise at a growth rate of 0.2% to US$ 1.5 trillion in next the five years. Worldwide tourism has performed well over the five-year period, and economies in emerging markets continue to stimulate expansion. In addition, countries in Asia and South America have seen a strong expansion in per capita income, which has allowed consumers in these regions to travel abroad in escalating numbers. However, due to the worldwide spread of COVID-19 (coronavirus) in 2020, industry revenue is predicted to decline by 8.9%. The worldwide pandemic is supposed to have a huge effect on all tourism-related industries, as many countries suspend international travel and limit the number of domestic flights.

Tourism is defined as the fact that international visitors who cross borders travel mainly for business, conferences, government affairs, and for leisure, vacations or to visit local people, friends, and family. The main industries that benefit from tourism spending include national and international air transport, accommodation services, food services, beverages, car rental, and travel agencies.

Market Trends:

Government agencies and organizations such as the World Tourism Organization, and UNWTO, promote tourism to attract diverse tourists from around the world. These initiatives are leading to the expansion of the world tourism market. Adventure tourism is a new concept in the tourism market that drives the entire industry. Also, medical tourism is also a new concept that is gaining ground around the world. The significant difference in prices for medical procedures between different countries is driving the trend in the medical tourism sector. Another determining factor for the global tourism market is the surge in international sporting and recreational events.

Market Drivers:

The increase in per capita income stimulates the expansion of the global tourism market, which translates into a continuous expansion of international tourism. For the past five years, the tourism market in emerging economies, particularly countries in South America and Asia, has been the driving force behind the worldwide industry. Compared to ten years ago, the world tourism market has undergone many changes. Emerging economies now represent more market share than developed economies. In recent years, the adventure tourism industry has grown exponentially worldwide. Also, travelers are interested in visiting unknown destinations for fun. Besides, a significant increase in government initiatives in the form of public and private partnerships to promote tourism is driving the expansion of the worldwide adventure travel market. The comfort factor associated with the application and implementation of the e-tourism market has been an important factor for this market. Access to the complete travel package as well as strategic access to know all the relevant information related to the place has helped customers opt for electronic means to make their travel plans.

Market Restraints:

The risk of unpredictable weather conditions limits the expansion of the global tourism market.

Market Opportunities:

The development of new trends like adventure tourism, medical tourism, etc., are likely to promote the expansion in call of the global tourism market. Adventure tourism includes some activities such as rock climbing, hiking, caving, rafting, and others. Tourism is one of the sectors with the highest exponential expansion, among which adventure tourism is one of the fastest growing. According to a study of the travel market, Europe and America are the two main regions of this market. Furthermore, the introduction of artificial intelligence plays a vital role in the operation and exploitation of adventure tourism. The growing trend of social media is also estimated to offer a promising opportunity for this market expansion.

Market Challenges:

However, outbreaks of diseases like Ebola, SARS, and COVID in some countries are heavily affecting worldwide tourism.

Market Recent Developments:

Mumbai-based Gem Tours & Travel has declared a coronavirus vaccination tour package for High Network Individual consumers who wish to travel to the United States for the shooting.

TOURISM MARKET REPORT COVERAGE:

Market Segmentation:

Tourism Market -  By Type:

• International Tourism
• Domestic/Local Tourism

Tourism Market -  By Purpose:

• Adventure Tourism
• Business Travel
• Conference or Seminar Travel
• Family and Friend Visits

Tourism service companies offer various products and services to their clients. Thus, the industry products included in the worldwide tourism industry are accommodation for travelers, travel organizations and reservations, air transport, other local transport such as car rental, food and drink establishments, recreation and entertainment, gasoline, and other activities. In addition, industrial activities considered in the worldwide tourism market include accommodation services for travelers, provision of hospitality services to international tourists, airline operation, motor vehicle leasing, travel agencies, and travel organization services.

Market Regional Analysis:

The  Tourism Market Report includes the segmentation of Regions:

• North America 
• Europe 
• Asia Pacific
• Latin America 
• Middle East & Africa 

Countries like the United States, Germany, and France are popular destinations for world tourism. But in recent years, other lesser-known countries in Asia and Africa have emerged as destinations of interest to international travellers. Therefore, tourism service providers are reorienting their services to take advantage of the economic benefits of this trend. Thailand was the most popular destination for medical tourism in 2019. The expansion of the market was due to Thailand's status as one of the most popular tourist destinations in Asia. The escalating number of private hospitals, improvements in health infrastructure in general, and cheaper treatment costs are responsible for the expansion of medical tourists arriving in Thailand. Thailand has more than 450 private hospitals and that number is likely to grow exponentially.

Medical tourism generates substantial income in developing economies, helping them to further develop their health activities. This has resulted in escalated participation and promotion of medical tourism by government authorities. For example, in Thailand, the government is targeting potential new markets such as China, Laos, Myanmar, Cambodia, and Vietnam to benefit from the growing wealth and growing call for professional healthcare services in these countries. In February 2018, the government announced the prerequisites for the issuance of smart visas for professionals or entrepreneurs interested in investing in new businesses, which will help international medical tourism providers expand their business in Thailand with incentives such as granting a visa period of 4 years.

Impact of COVID-19 on the Tourism Market:

The novel coronavirus, which is one of its types of humanitarian disasters, has affected people and businesses around the world, triggering a worldwide economic crisis. In this sense, the tourism sector is no exception.  COVID-19 has given almost a death blow to the tourism industry around the world. The strict lockdown conditions and shutdown of transport modes have resulted in declining revenue in this industry. However, with the relaxation of lockdown conditions, the business is supposed to resume in 2021.

Market Key Players:

The Tourism Market has a low level of concentration as there are large numbers of international and local players in the tourism market. The market for global tourism is highly fragmented in nature.

• Aban Offshore Ltd.
• Accor Group
• Balkan Holidays Ltd.
• Fred Harvey Company
• G Adventures

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1. What is the Tourism Market growth rate during the projection period? --> 1. What is the Tourism Market growth rate during the projection period? +

The Global Tourism Market is expected to grow with a CAGR of 0.2% between 2022-2027.

2. What can be the total Tourism Market value? --> 2. What can be the total Tourism Market value? +

The Global Tourism Market size is expected to reach a revised size of US$ 1.5 trillion by 2027.

3. Name any three Tourism Market key players? --> 3. Name any three Tourism Market key players? +

Accor Group, Crown Ltd., and Balkan Holidays Ltd. are the three tourism market key players.

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Travel and Tourism

Travel and tourism satellite account for 2017-2021.

The travel and tourism industry—as measured by the real output of goods and services sold directly to visitors—increased 64.4 percent in 2021 after decreasing 50.7 percent in 2020, according to the most recent statistics from BEA’s Travel and Tourism Satellite Account.

Data & Articles

• U.S. Travel and Tourism Satellite Account for 2017–2021 By Sarah Osborne - Survey of Current Business February 2023
• "U.S. Travel and Tourism Satellite Account for 2015–2019" By Sarah Osborne - Survey of Current Business December 2020
• "U.S. Travel and Tourism Satellite Account for 2015-2017" By Sarah Osborne and Seth Markowitz - Survey of Current Business June 2018
• Tourism Satellite Accounts 1998-2019
• Tourism Satellite Accounts Data Sheets A complete set of detailed annual statistics for 2017-2021 is coming soon -->
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Previously Published Estimates

• Data Archive This page provides access to an archive of estimates previously published by the Bureau of Economic Analysis. Please note that this archive is provided for research only. The estimates contained in this archive include revisions to prior estimates and may not reflect the most recent revision for a particular period.
• News Release Archive

What is Travel and Tourism?

Measures how much tourists spend and the prices they pay for lodging, airfare, souvenirs, and other travel-related items. These statistics also provide a snapshot of employment in the travel and tourism industries.

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Tourism Market

Tourism Market Size By Travel Days (Within 7 Days, More Than 15 Days, and 7-15 Days), By Travel Type (Business Spending and Leisure Spending), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2022 to 2030

• Report ID: TBI-13245
• Published Date: Jan, 2023
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The global tourism market is expected to reach USD 16.9 Trillion by 2030, at a CAGR of 5.4% during the forecast period 2022 to 2030. Asia Pacific is expected to grow the fastest during the forecast period. 

Market Overview:

Travel may be short-distance, long-distance, domestic, or international. The travel demand is expected to increase significantly over the next few years due to various factors, particularly after the relaxation of travel limitations connected to COVID-19. The different aspects of the broader service sector that meet the wants and needs of people who travel from one part of the world to another are included in the travel business. Sustainable travel, which is predicted to be the future of travel, is projected to have a growing impact on the expansion of the travel and tourist industry. The improvement in accessibility to several isolated but stunning sites as well as the development in disposable income, are the main factors driving the travel and tourism business. The travel and tourist industry has benefited from the robust growth of the general infrastructure and transportation systems. Unique once-in-a-lifetime experiences are becoming more and more popular among millennial tourists. Ecological trips are growing in popularity in this setting. As a result, the global travel and tourism market is expanding faster than before. To diversify their revenue streams, businesses in the travel and tourism industry must provide cutting-edge and distinctive travel experiences, such as immersive tours.

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Recent Development

• Hilton Worldwide Holdings Inc. made intentions to increase its presence in the Caribbean and Latin America public in August 2022. By the end of 2022, the business anticipates opening its 200th hotel in the area. The company also inked 15 new development partnerships. It announced intentions to open 15 further hotels in the second half of 2022, increasing the total number of projects in its pipeline to 105, totalling almost 15,750 rooms.
• On Unguja, the largest island in Zanzibar, RIU debuted the Riu Jambo, its second hotel, in June 2022. With a total of 461 rooms, it is a 4-star, 24-hour all-inclusive hotel.

Market Dynamics:

Increasing Government Initiatives - Emerging countries benefit greatly from health tourism's financial output, which enables them to improve their healthcare infrastructure. Public authorities have responded by increasing their participation in travel and tourist websites in favour of healthcare services. For instance, the Thai government released the criteria for issuing smart visas to professionals or business owners seeking to start new ventures in February 2018. This announcement may help international health tourism service providers expand their operations in Thailand.

Restraints:

Rise in Cost- However, one of the main reasons that would impede market growth and further complicate the expansion of the tourism market over the forecast period is the rise in the cost of research and development activities. The development of the cultural tourist business will be further hampered by the strict rules put in place by the authorities in response to the impact of COVID-19.

Opportunities:

Promotions by the government - To draw in a variety of travellers from all over the world, governments and organisations like the World Tourism Organization (UNWTO) are promoting tourism. The global tourism market is expanding as a result of these measures. The emerging notion of adventure tourism is driving the whole tourism market. Furthermore, a recent development in the global tourism industry is medical tourism . The notable price differences between medical procedures in various nations drive the global trend of medical tourism. International sporting events also drive the global tourism business. Sports events like the FIFA World Cup 2014, the London Olympics 2012, and the ICC World Cup 2011 attract travellers.

Challenges:

Several Risks Associated - When a person is travelling to another country, there are several risks associated with it, such as; contracting disease, robbery, legal issues etc. Furthermore, there are several language barriers which also challenge the market’s growth over the forecast period.

Regional segmentation analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. Asia Pacific emerged as the largest market for the global tourism market, with a 40% share of the market revenue in 2022.

Asia Pacific currently dominates tourism with a 40% market revenue share in 2022. China and India are the two most powerful nations in the region. The developing BRICS nations are a focus for international tourism and travel companies. In China, the travel and tourism sector is expanding. Tourism industry participants worldwide should benefit financially from inbound and outbound tourism to growing Asia-Pacific nations. Thailand, Japan, Singapore, Vietnam, Indonesia, Malaysia, the Philippines, and South Korea are the most popular travel destinations. After the pandemic's peak, there has been a persistent trend toward ecotourism, emphasising conservation, adventure travel, and health and wellness tours.

Europe is expected to witness the fastest growth during the forecast period. To increase tourism, important government agencies in the area are working with specialised tourism businesses and other government agencies. This is a significant factor influencing the European travel and tourism industry globally.

Europe Region Tourism Market Share in 2022 - 33%

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Travel Days Analysis:

The travel days segment is divided into within 7 days, more than 15 days, and 7-15 days. The within 7 days segment dominated the market, with a market share of around 40% in 2022. The travel days are usually 7 days. As people have their professional responsibilities so they cant expand their travelling days to more than 7, which adds impetus to the segment’s growth.

Travel Type Analysis:

The travel type segment is divided into business spending and leisure spending. Over the forecast period, the business spending segment is expected to grow at the fastest CAGR of 5.9%. Most of the businesses offer travelling facilities to their employees, adding impetus to the segment’s growth.

List of Key Market Players:

• Austin Adventures, Inc.
• Butterfield & Robinson Inc.
• G Adventures
• Geographic Expeditions Inc.
• Intrepid Group, ltd.
• Mountain Travel Sobek
• Discovery Nomads
• Row Adventures
• Cox & Kings Ltd.

Report Description: 

Frequesntly Asked Questions

What is the market size of the global tourism market.

As per The Brainy Insights, the size of the tourism market was valued at USD 11.1 Trillion in 2022 to USD 16.9 Trillion by 2030.

What is the market growth rate of the global tourism market?

The global tourism market is growing at a CAGR of 5.4% during the forecast period 2022-2030.

Which region dominates the global tourism market?

Asia Pacific currently emerged as the largest market for Tourism.

Who are the key players in the global tourism market?

Key players in the Tourism market are Austin Adventures, Inc., Butterfield & Robinson Inc., G Adventures, Geographic Expeditions Inc., Intrepid Group, ltd., Mountain Travel Sobek, Discovery Nomads, Row Adventures, Tui Group, and Cox & Kings Ltd.

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• Report can be prepared for any specific country/region/segment
• Customers can be added on the basis of regions and countries

1. Introduction     1.1. Objectives of the Study     1.2. Market Definition     1.3. Research Scope     1.4. Currency     1.5. Key Target Audience 2. Research Methodology and Assumptions 3. Executive Summary 4. Premium Insights     4.1. Porter’s Five Forces Analysis     4.2. Value Chain Analysis     4.3. Top Investment Pockets           4.3.1. Market Attractiveness Analysis By Travel Days           4.3.2. Market Attractiveness Analysis By Travel Type           4.3.3. Market Attractiveness Analysis By Region     4.4. Industry Trends 5. Market Dynamics     5.1. Market Evaluation     5.2. Drivers           5.2.1. Increasing Government Initiatives     5.3. Restraints           5.3.1. Rise in Cost     5.4. Opportunities           5.4.1. Promotions by government     5.5. Challenges           5.5.1. Several Risks Associated 6. Global Tourism Market Analysis and Forecast, By Travel Days     6.1. Segment Overview     6.2. Within 7 Days     6.3. More Than 15 Days     6.4. 7-15 Days 7. Global Tourism Market Analysis and Forecast, By Travel Type     7.1. Segment Overview     7.2. Business Spending     7.3. Leisure Spending 8. Global Tourism Market Analysis and Forecast, By Regional Analysis     8.1. Segment Overview     8.2. North America           8.2.1. U.S.           8.2.2. Canada           8.2.3. Mexico     8.3. Europe           8.3.1. Germany           8.3.2. France           8.3.3. U.K.           8.3.4. Italy           8.3.5. Spain     8.4. Asia-Pacific           8.4.1. Japan           8.4.2. China           8.4.3. India     8.5. South America           8.5.1. Brazil     8.6. Middle East and Africa           8.6.1. UAE           8.6.2. South Africa 9. Global Tourism Market-Competitive Landscape     9.1. Overview     9.2. Market Share of Key Players in Global Tourism Market           9.2.1. Global Company Market Share           9.2.2. North America Company Market Share           9.2.3. Europe Company Market Share           9.2.4. APAC Company Market Share     9.3. Competitive Situations and Trends           9.3.1. Travel Days Launches and Developments           9.3.2. Partnerships, Collaborations, and Agreements           9.3.3. Mergers & Acquisitions           9.3.4. Expansions 10. Company Profiles     10.1. Austin Adventures, Inc.           10.1.1. Business Overview           10.1.2. Company Snapshot           10.1.3. Company Market Share Analysis           10.1.4. Company Travel Days Portfolio           10.1.5. Recent Developments           10.1.6. SWOT Analysis     10.2. Butterfield & Robinson Inc           10.2.1. Business Overview           10.2.2. Company Snapshot           10.2.3. Company Market Share Analysis           10.2.4. Company Travel Days Portfolio           10.2.5. Recent Developments           10.2.6. SWOT Analysis     10.3. G Adventures           10.3.1. Business Overview           10.3.2. Company Snapshot           10.3.3. Company Market Share Analysis           10.3.4. Company Travel Days Portfolio           10.3.5. Recent Developments           10.3.6. SWOT Analysis     10.4. Geographic Expeditions Inc.           10.4.1. Business Overview           10.4.2. Company Snapshot           10.4.3. Company Market Share Analysis           10.4.4. Company Travel Days Portfolio           10.4.5. Recent Developments           10.4.6. SWOT Analysis     10.5. Intrepid Group, ltd.           10.5.1. Business Overview           10.5.2. Company Snapshot           10.5.3. Company Market Share Analysis           10.5.4. Company Travel Days Portfolio           10.5.5. Recent Developments           10.5.6. SWOT Analysis     10.6. Mountain Travel Sobek           10.6.1. Business Overview           10.6.2. Company Snapshot           10.6.3. Company Market Share Analysis           10.6.4. Company Travel Days Portfolio           10.6.5. Recent Developments           10.6.6. SWOT Analysis     10.7. Discovery Nomads           10.7.1. Business Overview           10.7.2. Company Snapshot           10.7.3. Company Market Share Analysis           10.7.4. Company Travel Days Portfolio           10.7.5. Recent Developments           10.7.6. SWOT Analysis     10.8. Row Adventures           10.8.1. Business Overview           10.8.2. Company Snapshot           10.8.3. Company Market Share Analysis           10.8.4. Company Travel Days Portfolio           10.8.5. Recent Developments           10.8.6. SWOT Analysis     10.9. Tui Group           10.9.1. Business Overview           10.9.2. Company Snapshot           10.9.3. Company Market Share Analysis           10.9.4. Company Travel Days Portfolio           10.9.5. Recent Developments           10.9.6. SWOT Analysis     10.10. Cox & Kings Ltd.           10.10.1. Business Overview           10.10.2. Company Snapshot           10.10.3. Company Market Share Analysis           10.10.4. Company Travel Days Portfolio           10.10.5. Recent Developments           10.10.6. SWOT Analysis

List of Table

1. Global Tourism Market, By Travel Days, 2019-2030 (USD Trillion)

2. Global Within 7 Days, Tourism Market, By Region, 2019-2030 (USD Trillion) 

3. Global More Than 15 Days, Tourism Market, By Region, 2019-2030 (USD Trillion)

4. Global 7-15 Days, Tourism Market, By Region, 2019-2030 (USD Trillion)

5. Global Tourism Market, By Travel Type, 2019-2030 (USD Trillion)

6. Global Business Spending, Tourism Market, By Region, 2019-2030 (USD Trillion)

7. Global Leisure Spending, Tourism Market, By Region, 2019-2030 (USD Trillion)

8. North America Tourism Market, By Travel Days, 2019-2030 (USD Trillion)

9. North America Tourism Market, By Travel Type, 2019-2030 (USD Trillion)

10. U.S. Tourism Market, By Travel Days, 2019-2030 (USD Trillion)

11. U.S. Tourism Market, By Travel Type, 2019-2030 (USD Trillion)

12. Canada Tourism Market, By Travel Days, 2019-2030 (USD Trillion)

13. Canada Tourism Market, By Travel Type, 2019-2030 (USD Trillion)

14. Mexico Tourism Market, By Travel Days, 2019-2030 (USD Trillion)

15. Mexico Tourism Market, By Travel Type, 2019-2030 (USD Trillion)

16. Europe Tourism Market, By Travel Days, 2019-2030 (USD Trillion)

17. Europe Tourism Market, By Travel Type, 2019-2030 (USD Trillion)

18. Germany Tourism Market, By Travel Days, 2019-2030 (USD Trillion)

19. Germany Tourism Market, By Travel Type, 2019-2030 (USD Trillion)

20. France Tourism Market, By Travel Days, 2019-2030 (USD Trillion)

21. France Tourism Market, By Travel Type, 2019-2030 (USD Trillion)

22. U.K. Tourism Market, By Travel Days, 2019-2030 (USD Trillion)

23. U.K. Tourism Market, By Travel Type, 2019-2030 (USD Trillion)

24. Italy Tourism Market, By Travel Days, 2019-2030 (USD Trillion)

25. Italy Tourism Market, By Travel Type, 2019-2030 (USD Trillion)

26. Spain Tourism Market, By Travel Days, 2019-2030 (USD Trillion)

27. Spain Tourism Market, By Travel Type, 2019-2030 (USD Trillion)

28. Asia Pacific Tourism Market, By Travel Days, 2019-2030 (USD Trillion)

29. Asia Pacific Tourism Market, By Travel Type, 2019-2030 (USD Trillion)

30. Japan Tourism Market, By Travel Days, 2019-2030 (USD Trillion)

31. Japan Tourism Market, By Travel Type, 2019-2030 (USD Trillion)

32. China Tourism Market, By Travel Days, 2019-2030 (USD Trillion)

33. China Tourism Market, By Travel Type, 2019-2030 (USD Trillion)

34. India Tourism Market, By Travel Days, 2019-2030 (USD Trillion)

35. India Tourism Market, By Travel Type, 2019-2030 (USD Trillion)

36. South America Tourism Market, By Travel Days, 2019-2030 (USD Trillion)

37. South America Tourism Market, By Travel Type, 2019-2030 (USD Trillion)

38. Brazil Tourism Market, By Travel Days, 2019-2030 (USD Trillion)

39. Brazil Tourism Market, By Travel Type, 2019-2030 (USD Trillion)

40. Middle East and Africa Tourism Market, By Travel Days, 2019-2030 (USD Trillion)

41. Middle East and Africa Tourism Market, By Travel Type, 2019-2030 (USD Trillion)

42. UAE Tourism Market, By Travel Days, 2019-2030 (USD Trillion)

43. UAE Tourism Market, By Travel Type, 2019-2030 (USD Trillion)

44. South Africa Tourism Market, By Travel Days, 2019-2030 (USD Trillion)

45. South Africa Tourism Market, By Travel Type, 2019-2030 (USD Trillion)

List of Figures  

1. Global Tourism Market Segmentation

2. Global Tourism Market: Research Methodology

3. Market Size Estimation Methodology: Bottom-Up Approach

4. Market Size Estimation Methodology: Top-Down Approach

5. Data Triangulation

6. Porter’s Five Forces Analysis 

7. Value Chain Analysis 

8. Global Tourism Market Attractiveness Analysis By Travel Days

9. Global Tourism Market Attractiveness Analysis By Travel Type

10. Global Tourism Market Attractiveness Analysis By Region

11. Global Tourism Market: Dynamics

12. Global Tourism Market Share By Travel Days (2022 & 2030)

13. Global Tourism Market Share By Travel Type (2022 & 2030)

14. Global Tourism Market Share By Regions (2022 & 2030)

15. Global Tourism Market Share By Company (2021)

This study forecasts global, regional, and country revenue from 2019 to 2030. Brainy Insights has segmented the global tourism market based on the below-mentioned segments:

Global Tourism Market by Travel Days: 

• Within 7 Days
• More Than 15 Days

Global Tourism Market by Travel Type:

• Business Spending
• Leisure Spending

Global Tourism Market by Region:

• South Africa

Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision. 

Our research reports feature both; quantitative and qualitative aspects for any market. Qualitative information for any market research process are fundamental because they reveal the customer needs and wants, usage and consumption for any product/service related to a specific industry. This in turn aids the marketers/investors in knowing certain perceptions of the customers. Qualitative research can enlighten about the different product concepts and designs along with unique service offering that in turn, helps define marketing problems and generate opportunities. On the other hand, quantitative research engages with the data collection process through interviews, e-mail interactions, surveys and pilot studies. Quantitative aspects for the market research are useful to validate the hypotheses generated during qualitative research method, explore empirical patterns in the data with the help of statistical tools, and finally make the market estimations.

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The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.

The data procurement stage involves in data gathering and collecting through various data sources.

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Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:

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• Experiential assessment of year-on-year sales of the product by conducting interviews.

The demand side for the market is estimated through:

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In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.

Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:

• Applying demographic along with psychographic segmentation for market evaluation
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• Examining the industry indicators prevailing in the market. 

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Tourism on Track for Full Recovery as New Data Shows Strong Start to 2023

• All Regions

International tourism is well on its way to returning to pre-pandemic levels, with twice as many people travelling during the first quarter of 2023 than in the same period of 2022.

New Data from UNWTO: What We've Learned

The second UNWTO World Tourism Barometer of the year shows that the sector's swift recovery has continued into 2023. It shows that:

• Overall, international arrivals reached 80% of pre-pandemic levels in the first quarter of 2023
• An estimated 235 million tourists travelled internationally in the first three months, more than double the same period of 2022.
• Tourism has continued to show its resilience. Revised data for 2022 shows over 960 million tourists travelling internationally last year, meaning two-thirds (66%) of pre-pandemic numbers were recovered.

Recovery by Region in Q1 2023:

• The Middle East saw the strongest performance as the only region exceeding 2019 arrivals (+15%) and the first to recover pre-pandemic numbers in a full quarter.
• Europe reached 90% of pre-pandemic levels, driven by strong intra-regional demand.
• Africa reached 88% and the Americas about 85% of 2019 levels
• Asia and the Pacific accelerated its recovery with  54% of pre-pandemic levels, but this upward trend is set to accelerate now that most destinations, particularly China , have re-opened.

In many places, we are close to or even above pre-pandemic levels of arrivals

The UNWTO data also analyses recovery by sub-region and by destination: Southern Mediterranean Europe and North Africa have also recovered pre-pandemic levels in Q1 2023, while Western Europe, Northern Europe, Central America and the Caribbean all came close to reaching those levels.

What it Means:

UNWTO Secretary-General Zurab Pololikashvili says: "The start of the year has shown again tourism's unique ability to bounce back. In many places, we are close to or even above pre-pandemic levels of arrivals. However, we must remain alert to challenges ranging from geopolitical insecurity, staffing shortages, and the potential impact of the cost-of-living crisis on tourism, and we must ensure tourism's return delivers on its responsibilities as a solution to the climate emergency and as a driver of inclusive development."

International tourism receipts grew back to hit the USD1 trillion mark in 2022, growing 50% in real terms compared to 2021, driven by the important rebound in international travel. International visitor spending reached 64% of pre-pandemic levels (-36% compared to 2019, measured in real terms). By regions, Europe enjoyed the best results in 2022 with nearly USD 550 billion in tourism receipts (EUR 520 billion), or 87% of pre-pandemic levels. Africa recovered 75% of its pre-pandemic receipts, the Middle East 70% and the Americas 68%. Due to prolonged border shutdowns, Asian destinations earned about 28%.

International tourism receipts: Percentage of 2019 levels recovered in 2022(%) *

International tourist arrivals: percentage of 2019 levels recovered in q1 2023 (%)*, looking ahead: what's in store.

The Q1 2023 results are in line with UNWTO's forward-looking scenarios for the year which project international arrivals to recover 80% to 95% of pre-pandemic levels. UNWTO's Panel of Experts expressed their confidence in a strong peak season (May-August) in the Northern Hemisphere, reflected in the latest UNWTO Confidence Index which indicates performance for the period is on track to be even better than 2022.

However, tourism's recovery also faces some challenges .  According to the UNWTO Panel of Experts, the economic situation remains the main factor weighing on the effective recovery of international tourism in 2023, with high inflation and rising oil prices translating into higher transport and accommodations costs.  As a result, tourists are expected to increasingly seek value for money and travel closer to home. Uncertainty derived from the Russian aggression against Ukraine and other mounting geopolitical tensions, also continue to represent downside risks.

International Tourist Arrivals, World and Regions

Related links.

• Download the News Release in PDF
• UNWTO World Tourism Barometer - EXCERPT Volume 21 • Issue 2 • May 2023
• World Tourism Barometer (PPT version)
• The UNWTO Tourism Data Dashboard
• UNWTO World Tourism Barometer

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National tourism indicators, fourth quarter 2023.

Released: 2024-03-27

$23.3 billion

Fourth quarter 2023

(quarterly change)

$17.7 billion

$5.6 billion

Tourism spending in Canada grew 2.3% in the fourth quarter of 2023, following a 0.1% decline in the third quarter. Annually, tourism spending rose 13.5% in 2023 after increasing 50.4% in 2022. Tourism gross domestic product ( GDP ) rose 2.5% in the fourth quarter of 2023 and was up 9.5% annually.

Passenger air transport (+3.8%) and accommodation services (+3.9%) were the main contributors to growth in tourism spending in the fourth quarter. Annually, passenger air transport spending (+34.0%) contributed the most to overall growth in 2023. Pre-trip expenses ( -9 .0%), such as recreational vehicles, pleasure crafts and camping equipment, was the only product category to decrease in 2023.

Chart 1  Tourism spending increases

Tourism GDP rose 2.5% in the fourth quarter, following a 0.6% decrease in the third quarter. Accommodation services (+4.1%) and transportation (+4.0%) were the main contributors to overall growth. Economy-wide GDP edged up 0.2% in the fourth quarter, and tourism's share of GDP was unchanged at 1.58% on a nominal basis.

Chart 2  Tourism and major industrial sectors, gross domestic product, fourth quarter of 2023

Tourism jobs increased 0.7% in the fourth quarter, following a 0.2% gain in the third quarter. Food and beverage services (+0.7%), non-tourism industries (+1.3%) and air transportation (+2.2%) were the largest contributors to job growth in the fourth quarter. Tourism's share of jobs increased to 3.34%, while the total number of jobs in Canada declined 0.2% in the fourth quarter.

Annually, tourism GDP rose 9.5% in 2023 with positive growth in all categories. Transportation (+25.5%) accounted for nearly half of the yearly gains. There were also positive gains across all tourism job categories in 2023, as total tourism jobs increased 9.1%.

Chart 3  Tourism gross domestic product and jobs attributable to tourism increase

Tourism spending by international visitors increases

Tourism spending by international visitors in Canada was up 3.3% in the fourth quarter, following a 1.4% increase in the third quarter. Spending on accommodation (+4.3%) and food and beverage (+4.8%) services were the main contributors to the quarter's increase.

Chart 4  Share of tourism spending in Canada by international visitors increases

Tourism spending in Canada by Canadians increases

Tourism spending in Canada by Canadians increased 2.0% in the fourth quarter. Domestic tourism spending on passenger air transport (+4.2%) was the main contributor to the rise. Many product categories such as recreation ( -1 .6%) and travel services ( -5 .2%) had declines in the fourth quarter which limited growth. Annually, domestic tourism spending increased 7.7% in 2023, as outlays on passenger air transport rose 34.1%.

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Get timely access to data right at your fingertips by downloading the StatsCAN app , available for free on the App Store and on Google Play .

Sustainable development goals

On January 1, 2016, the world officially began implementing the 2030 Agenda for Sustainable Development —the United Nations' transformative plan of action that addresses urgent global challenges over the next 15 years. The plan is based on 17 specific sustainable development goals.

The national tourism indicators are an example of how Statistics Canada supports the reporting on the global goals for sustainable development. This release will be used in helping to measure the following goal:

  Note to readers

With the fourth quarter 2023 release of the national tourism indicators, all data from the first quarter of 2020 have been revised. In addition, all volume and price estimates for tourism supply, demand and gross domestic product ( GDP ) have been updated to the 2017 (2017=100) reference year.

Growth rates for tourism spending and GDP are expressed in real terms (that is, adjusted for price changes), using reference year 2017, as well as adjusted for seasonal variations, unless otherwise indicated.

Tourism jobs data are also seasonally adjusted.

Tourism's share of economy-wide GDP is calculated from seasonally adjusted nominal values.

Tourism's share of economy-wide jobs is calculated using seasonally adjusted values.

Economy-wide GDP is obtained from Table 36-10-0449-01 . Economy-wide total number of jobs is obtained from Table 36-10-0207-01 .

For information on seasonal adjustment, see Seasonally adjusted data – Frequently asked questions .

Associated percentage changes are presented at quarterly rates unless otherwise noted.

Non-tourism industries , also referred to as other industries, are industries that would continue to exist in the absence of tourism. For example, retail trade industries, which benefit from tourism activity, would not cease to exist in the absence of tourism. Tourism GDP takes into account the production of these products purchased by tourists.

Non tourism products , also referred to as other products, are products for which a significant part of its total demand in Canada does not come from visitors, such as groceries, clothing and alcohol bought in stores.

The national tourism indicators are funded by Destination Canada.

Next release

Data on the national tourism indicators for the first quarter of 2024 will be released on June 26, 2024.

The Economic accounts statistics portal, accessible from the Subjects module of the Statistics Canada website, features an up-to-date portrait of national and provincial economies and their structure.

The Latest Developments in the Canadian Economic Accounts ( Catalogue number 13-605-X ) is available.

The User Guide: Canadian System of Macroeconomic Accounts ( Catalogue number 13-606-G ) is available.

The Methodological Guide: Canadian System of Macroeconomic Accounts ( Catalogue number 13-607-X ) is available.

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• Executive Summary

Digital healthcare usage was fast-tracked by the pandemic. But now, with so many tools in the market, providers and marketers must deliver differentiated experiences to stay competitive. They’ll need to know how and why patients use these tools—and how to resolve the pain points.

Key Question: Which digital health products and services are US consumers using, and how does usage differ across populations?

KEY STAT: About 46% of US consumers—an estimated 119 million patients—engage with their healthcare providers using a combination of patient portals, telehealth appointments, apps, and traditional in-person visits, per PYMNTS.

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Table of Contents

• Consumer adoption of digital health tools is still growing.
• Who is the healthcare tech user?
• Patients demand an omnichannel experience.
• The patient healthcare journey often starts online.
• Patients are using social media to find health information.
• Patients believe digital health tools lead to better health.
• Consumers want doctors to embrace digital health tools.
• Healthcare is falling short on delivering a quality digital experience.
• Providers are at risk of losing patients if they don’t go digital.
• How can providers and marketers keep pace with the digital healthcare consumer?
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