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Pulished Date August, 2021
ID: 11989
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International Tourism Market Segmentation by Type (Adventure Tourism, Cultural Tourism, Family Tourism, Hospitality Tourism, Culinary Tourism, Business Tourism, Medical Tourism, Others); By Services (Accommodation, Food & Beverages, Recreation & Entertainment, Transportation, Travel) and Region - Industry Analysis, Share, Growth and Forecast 2021-2026.

Pulished: August, 2021
ID: 11989
Pages: 185

International Tourism Market Size, Growth, Trends and Forecast:

The International Tourism Market is estimated at $ 8.9 trillion by 2026 and is growing at an annual rate of 3.1% between 2021 and 2026.

International tourism is tourism where tourists cross national borders. Globalization has made tourism a popular leisure activity around the world. International tourism has become popular around the world as a leisure activity with easy traveling facilities. International tourism has grown into a multi-billion-dollar industry. Tourism is very important in many countries like United Arab Emirates, Nepal, Thailand, Nepal, Maldives, etc. Tourism has a direct impact on the social, cultural, educational, and economic sectors of many countries and helps to build international relationships.

The increase in per capita income stimulates the growth of the global tourism market, resulting in the growth of international tourism. Over the past five years, the tourism market in emerging economies, especially countries in South America and Asia, has driven the global tourism market. Compared to ten years ago, the tourism market has undergone many changes. Emerging economies now represent a larger market share than developed economies. Government agencies and organizations such as the World Tourism Organization promote tourism to attract various tourists from around the world. These initiatives lead to the growth of the international tourism market. Adventure tourism is a new concept in the international tourism market that drives the international tourism market in general. In addition, medical tourism is also a new trend observed in the global tourism market. The significant difference in the price of medical procedures between different countries is behind the trend of medical tourism around the world. Another driver of the global tourism market is world games and sporting events. People travel to enjoy sporting events like FIFA World Cup, ICC World Cup and Formula 1, etc.

Impact of COVID-19 on the International Tourism Market:

Due to the COVID-19 pandemic there is an unprecedented global health, social and economic crisis. International tourism, considered one of the most affected areas experiences a massive fall since all the boarders were closed inorder to get rid of virus. The global revenue was dropped by 17 percent with an estimated loss of 2.4 trillion $. With the launch of vaccines, the industry is expected to recover. However, the fear of Covid-19 among tourists is slowing market growth. A full recovery is expected in 2023. The recent growth is due to countries easing travel restrictions and coming out of lockdowns and businesses resuming operations.

Recent Developments:

In 2021, Expedia Group launched the COVID-19 Travel Advisor, an online tool that provides travelers with details about travel restrictions around the world to help restore confidence in travelers.

Drivers and Restraints of International Tourism Market:

Drivers:

The increase in income is driving the growth of the global tourism market leading to continuous growth in international tourism. The urge to explore the world among young adults is expected to expand the global international tourism market. Traveling has become increasingly common all over the world. Hence, spending on leisure travel and business travel has seen a yearly increase. This increase in travel has also allowed the number of hotel guests and in turn the hospitality markets to grow. The growth of the international Tourism market also helps other industries to grow such as the airline industry. The increasing spending on tourism, the urge for consumers to explore new cultures and cultural food, diverse attractions, and many other factors are driving the growth of the global international tourism market.

Restraints:

However, disease outbreaks such as Ebola in specific countries affect global tourism to a large extent. The Ebola outbreak in West Africa affected the tourism market in the African region. Also, fear of Covid-19 and travel restrictions posed due to Covid-19 are expected to hinder the growth of the global international tourism market. The growing domestic tourism in developing countries, high cost of traveling internationally, Cultural and communal barriers, cultural clashes among various countries, Seasonal fluctuations, and low-paying jobs in the service sector are expected to hinder growth in the global international tourism market. The rising prices for travel and hotels are making customers opt-out of international tourism. Many cultural and communal barriers such as language barriers among tourists and locals. The high-security risks for tourists traveling to under-developed and developing countries pose an immense challenge for the global international tourism market.

International Tourism Market Segmentation:

International Tourism Market - By Type:

  • Adventure Tourism

  • Cultural Tourism
  • Hospitality Tourism
  • Culinary Tourism
  • Business Tourism
  • Medical Tourism
  • Others

The Business tourism sector is the fastest-growing segment of the global international tourism market. The Adventure tourism segment is expected to have immense growth potential. The Medical tourism segment is also growing at a high rate due to price changes and the availability of various medical procedures in various countries. The culinary tourism segment is also growing at a fast pace due to changes in consumer preferences and the rise in the trend of food blogging

International Tourism Market - By Services Provided:

  • Accommodation
  • Food & Beverages
  • Recreation & Entertainment
  • Transportation
  • Travel

The Food & Beverages segment is the largest segment in the global international tourism market, it is made up of establishments that deliver food, snacks, drinks for immediate consumption, inside or outside the premises Facilities.  The accommodation segment is expected to be the fastest-growing segment in the global international tourism market. The accommodation sector covers an extremely diverse spectrum of properties and consists of luxury palaces, boutique hotels, bed and breakfasts, campsites, inns, and other establishments.

Regional analysis:

The global international tourism market by region is segmented into

  • Asia-pacific
  • North America
  • Europe
  • Latin America
  • Middle East & Africa

The Middle East & African region is the fastest-growing region for the global international tourism market, growing at an annual rate of 8% almost double the global average. The Asia-Pacific region is expected to grow at an annual rate of 5%. The European region is expected to grow at an annual rate of 4% and continues to lead in terms of international arrivals. The North American region is the second-largest region with more than 107 million international arrivals and accounts for 18% of the global international tourism market. The Latin American region is expected to grow at a fast pace due to the rise of cruise tourism in the region.

Leading company:

The Expedia Group is the leading company in the global international tourism market.

Key players:

  • TCS World Travel
  • Expedia Group
  • American Express Global Business Travel
  • Gray & Co
  • Booking Holdings
  • Air BnB
  • DuVine
  • Crown Ltd
  • Balkan Holidays Ltd
  • G Adventures
  • Accor Group
  • Fred Harvey Company
  • MakeMyTrip
  • Adris Group

1. Introduction                        

            1.1 Market Definition             

            1.2 Scope of the report                      

            1.3 Study Assumptions                      

            1.4 Base Currency, Base Year and Forecast Periods                      

2. Research Methodology                             

            2.1 Analysis Design               

            2.2 Research Phases            

                        2.2.1 Secondary Research    

                        2.2.2 Primary Research        

                        2.2.3 Data Modelling  

                        2.2.4 Expert Validation           

            2.3 Study Timeline                 

3. Report Overview                           

            3.1 Executive Summary                    

            3.2 Key Inferencees              

4. Market Dynamics                          

            4.1 Impact Analysis               

                        4.1.1 Drivers  

                        4.1.2 Restaints           

                        4.1.3 Opportunities     

            4.2 Regulatory Environment              

            4.3 Technology Timeline & Recent Trends               

5. Competitor Benchmarking Analysis                                  

            5.1 Key Player Benchmarking                      

                        5.1.1 Market share analysis   

                        5.1.2 Products/Service          

                        5.1.3 Regional Presence       

            5.2 Mergers & Acquistion Landscape            

            5.3 Joint Ventures & Collaborations              

6. Market Segmentation                                

            6.1 International Tourism Market, By Type               

                        6.1.1 Adventure Tourism       

                        6.1.2 Cultural Tourism

                        6.1.3 Family Tourism 

                        6.1.4 Hospitality Tourism       

                        6.1.5 Culinary Tourism          

                        6.1.6 Business Tourism         

                        6.1.7 Medical Tourism           

                        6.1.8 Others   

                        6.1.9 Market Size Estimations & Forecasts (2021-2026)      

                        6.1.10 Y-o-Y Growth Rate Analysis  

                        6.1.11 Market Attractiveness Index   

            6.2 International Tourism Market, By Services                     

                        6.2.1 Accommodation

                        6.2.2 Food & Beverages        

                        6.2.3 Recreation & Entertainment     

                        6.2.4 Transportation   

                        6.2.5 Travel    

                        6.2.6 Market Size Estimations & Forecasts (2021-2026)      

                        6.2.7 Y-o-Y Growth Rate Analysis    

                        6.2.8 Market Attractiveness Index     

7. Geographical Landscape                           

            7.1 Global Identity Governance and Administration Market, by Region                   

            7.2 North America - Market Analysis (2021 - 2026)             

                        7.2.1 By Country        

                                    7.2.1.1 USA

                                    7.2.1.2 Canada

                        7.2.2 By Type

                        7.2.3 By Services      

            7.3 Europe                 

                        7.3.1 By Country        

                                    7.3.1.1 UK

                                    7.3.1.2 France

                                    7.3.1.3 Germany

                                    7.3.1.4 Spain

                                    7.3.1.5 Italy

                                    7.3.1.6 Rest of Europe

                        7.3.2 By Type

                        7.3.3 By Services      

            7.4 Asia Pacific                      

                        7.4.1 By Country        

                                    7.4.1.1 China

                                    7.4.1.2 India

                                    7.4.1.3 Japan

                                    7.4.1.4 South Korea

                                    7.4.1.5 South East Asia

                                    7.4.1.6 Australia & NZ

                                    7.4.1.7 Rest of Asia-Pacific

                        7.4.2 By Type

                        7.4.3 By Services      

            7.5 Latin America                   

                        7.5.1 By Country        

                                    7.5.1.1 Brazil

                                    7.5.1.2 Argentina

                                    7.5.1.3 Mexico

                                    7.5.1.4 Rest of Latin America

                        7.5.2 By Type

                        7.5.3 By Services      

            7.6 Middle East and Africa                

                        7.6.1 By Country        

                                    7.6.1.1 Middle East

                                    7.6.1.2 Africa

                        7.6.2 By Type

                        7.6.3 By Services      

8. Key Player Analysis                                   

            8.1 TCS World Travel            

                        8.1.1 Business Description    

                        8.1.2 Products/Service          

                        8.1.3 Financials          

                        8.1.4 SWOT Analysis

                        8.1.5 Recent Developments  

                        8.1.6 Analyst Overview         

            8.2 Expedia Group                 

            8.3 American Express Global Business Travel                     

            8.4 Gray & Co            

            8.5 Booking Holdings             

            8.6 Air BnB                 

            8.7 DuVine                 

            8.8 Crown Ltd.           

            8.9 Balkan Holidays Ltd                     

            8.10 G Adventures                 

            8.11 Accor Group                  

            8.12 Fred Harvey Company              

            8.13 MakeMyTrip                  

            8.14 Adris Group                    

9. Market Outlook & Investment Opportunities                                 

10. Appendix                          

            List of Tables              

            List of Figures            

  • Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
  • Global International Tourism Market By Region, From 2021-2026 ( USD Billion )
  • Global International Tourism Market By Type, From 2021-2026 ( USD Billion )
  • Global Adventure Tourism Market By Region, From 2021-2026 ( USD Billion )
  • Global Cultural Tourism Market By Region, From 2021-2026 ( USD Billion )
  • Global Family Tourism Market By Region, From 2021-2026 ( USD Billion )
  • Global Hospitality Tourism Market By Region, From 2021-2026 ( USD Billion )
  • Global Culinary Tourism Market By Region, From 2021-2026 ( USD Billion )
  • Global Business Tourism Market By Region, From 2021-2026 ( USD Billion )
  • Global Medical Tourism Market By Region, From 2021-2026 ( USD Billion )
  • Global Others Market By Region, From 2021-2026 ( USD Billion )
  • Global International Tourism Market By Services , From 2021-2026 ( USD Billion )
  • Global Accommodation Market By Region, From 2021-2026 ( USD Billion )
  • Global Food & Beverages Market By Region, From 2021-2026 ( USD Billion )
  • Global Recreation & Entertainment Market By Region, From 2021-2026 ( USD Billion )
  • Global Transportation Market By Region, From 2021-2026 ( USD Billion )
  • Global Travel Market By Region, From 2021-2026 ( USD Billion )

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