The market value of Leisure Travel market is valued at 1006.5 billion US dollars in the year 2021 which is expected to reach the growth by 1737.3 billion US dollars by the end of 2026 with a compound annual growth rate of 22% during the forecast period of 2021 to 2026. The market value of leisure travel is expected to increase more during the forecast period.
The leisure travel is comprised of various different sub industries that make up the various aspects of traveling for pleasure or leisure which includes transportation and lodging as well as any reservations and packages for tours and other entertainments and recreation activities.
Corona virus has impacted the global industries in three ways, by directly affecting production and demand, by creating supply chain and market disruption, and by its financial impact on firms and financial markets due to the strict lockdown which was imposed by the government authorities all around the world. Due to the lockdown, companies are forced to halt their manufacturing units for a period of time to eradicate the spread of corona virus as it was spreading at a rapid speed from one person to another. This situation may continue until the vaccine for the corona virus has released. But the companies are in a panic situation as they have experienced huge losses due to the COVID pandemic and are looking for some alternatives to set out their business in a right path, but it’s gonna take some while until everything will be back to normal. As we all are aware that the lockdown has lifted in so many companies with some strict regulations by the government authorities and gave permissions to all the industries to restart their manufacturing units.
As per the analysis, the market of Leisure Travel is expected to increase the revenue rate in the next few months with all the industries started their manufacturing of the products which in turn going to increase the revenue rate of the Leisure Travel.
Leisure Travel Market Driving Factors: -
Rise in disposable income is one of the major driving factor of Leisure Travel market growth rate. Another major driving factor of the Leisure Travel market was rise in digitalization, informatization and upgradation of globalization. Expansion of logistics & infrastructure, rigorous promotion & advertising of tourism by governments are some of the growth supporting factors of the market of Leisure Travel revenue rate.
Another major growth driving factor of the Leisure Travel market was the rapid development of global outbound tourism. Deployment of technologies such as artificial intelligence, big data analytics and Internet Of Things are some of the growth supporting factors that boosts the growth of the market of Leisure Travel.
Regulations imposed by the government authorities due to covid pandemic is one of the major restraints which hinders the growth of the Leisure Travel Market. Another major restraint which is affecting the growth of the market of Leisure Travel was the competition from various tourism companies.
Leisure Travel Market – By Traveler Type:
solo traveler type
Among these segments, the solo traveler type segment holds the major share of the market among the others due to the increase of people who are exploring more in most of the countries.
Leisure Travel Market – By Sales Channel:
Among these segments, the online segments hold the major share of the market owing to the growth in demand for the online sales channel across the globe.
Leisure Travel Market – By Age Group:
Among these segments, the millenials holds the major share of the market as they are getting more popular among the people across the world.
Regional Analysis: -
The Leisure Travel market is elaborated in various regions all around the world such as North America (US, Mexico, Canada and rest of North America), Europe region (France, Germany, Italy, UK, Spain and rest of Europe), Asia Pacific region (China, India, Japan, Australia and rest of Asia Pacific).
Asia Pacific region holds the major share of the market due to the rapid development of global outbound tourism is also a major driving factor helps the growth of the market of Leisure Travels in Europe region. Furthermore, increasing of investments and development in some of the emerging economies such as India, China and Australia to propmote tourism for their respective countries are also some of the major driving factor propels the growth of the market of Leisure Travels in Asia Pacific region.
North America region holds the second largest share of the market of Leisure Travels owing to the increase in disposable income and growing number of people who are more interested about traveling are some of the factors which is helping the market of Leisure Travels to grow further in the North America region.
Europe region is expected to increase the market value of Leisure Travels owing to the rising investment as well as awareness by the government authorities to improve the traveling propels the growth of the market in Europe region.
Key Players: -
Some of the key market players of Leisure Travel market are: Thomas Cook Limited (India), Carlson Wagonlit Travel, JTB Americas Group, World Travel, Inc., American Express Travel, Expedia Group, Priceline Group, Travel Leaders Group, TUI Group and Cox & Kings Ltd
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
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Leisure Travel Market, By Traveller Type
6.1.1 solo traveler type
6.1.2 group traveler type
6.1.3 Market Size Estimations & Forecasts (2021-2026)
6.1.4 Y-o-Y Growth Rate Analysis
6.1.5 Market Attractiveness Index
6.2 Leisure Travel Market, By Sales Channel
6.2.1 conventional channels
6.2.2 online channels
6.2.3 Market Size Estimations & Forecasts (2021-2026)
6.2.4 Y-o-Y Growth Rate Analysis
6.2.5 Market Attractiveness Index
6.3 Leisure Travel Market, By Age Group
6.3.1 baby boomers
6.3.2 generation X
6.3.4 generation Z
6.3.5 Market Size Estimations & Forecasts (2021-2026)
6.3.6 Y-o-Y Growth Rate Analysis
6.3.7 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2018 - 2024)
7.2.1 By Country
7.2.2 By Traveller Type
7.2.3 By Sales Channel
7.2.4 By Age Group
7.3.1 By Country
18.104.22.168 Rest of Europe
7.3.2 By Traveller Type
7.3.3 By Sales Channel
7.3.4 By Age Group
7.4 Asia Pacific
7.4.1 By Country
22.214.171.124 South Korea
126.96.36.199 South East Asia
188.8.131.52 Australia & NZ
184.108.40.206 Rest of Asia-Pacific
7.4.2 By Traveller Type
7.4.3 By Sales Channel
7.4.4 By Age Group
7.5 Latin America
7.5.1 By Country
220.127.116.11 Rest of Latin America
7.5.2 By Traveller Type
7.5.3 By Sales Channel
7.5.4 By Age Group
7.6 Middle East and Africa
7.6.1 By Country
18.104.22.168 Middle East
7.6.2 By Traveller Type
7.6.3 By Sales Channel
7.6.4 By Age Group
8. Key Player Analysis
8.1 Thomas Cook Limited
8.1.1 Business Description
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Carlson Wagonlit Travel
8.3 JTB Americas Group
8.4 World Travel, Inc.
8.5 American Express Travel
8.6 Expedia Group
8.7 Priceline Group
8.8 Travel Leaders Group
9. Market Outlook & Investment Opportunities
List of Tables
List of Figures