Travel & Tourism - Worldwide

  • 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 €859.90bn and is projected to grow annually at a rate of 3.70%, resulting in a market volume of €994.50bn by 2028.
  • The largest market within Travel & Tourism is the Hotels market, which is projected to reach a market volume of €414.10bn 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 €427.60.
  • 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 €184bn 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

Comparación de regiones

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.


Data coverage:

The data encompasses B2C enterprises. Figures are based on bookings, revenues, and sales channels of hotels, vacation rentals, cruises, package holidays, and camping.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market. As a basis for evaluating markets, we use financial reports, the Global Consumer Survey, third-party studies and reports, data from industry associations (e.g., UNWTO), and price data of major players in respective markets. To estimate the number of users and bookings, we furthermore use data from the Statista Consumer Insigths Global survey. In addition, we use relevant key market indicators and data from country-specific associations, such as country-related GDP, demographic data (e.g., population), tourism spending, consumer spending, internet penetration, and device penetration. This data helps us estimate the market size for each country individually.


In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, ARIMA, which allows time series forecasts, accounting for stationarity of data and enabling short-term estimates. Additionally, simple linear regression, Holt-Winters forecast, and exponential trend smoothing methods are applied. A k-means cluster analysis allows for the estimation of similar countries. The main drivers are tourism GDP per capita and respective price indices.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change.

Visión general

  • Revenue
  • Sales Channels
  • Analyst Opinion
  • Users
  • Global Comparison
  • Methodology
  • Key Market Indicators
Espere, por favor