Travel and Tourism Spending Market Report 2025 (Global Edition)

Global Travel and Tourism Spending Market Report 2025 Market Size Split by Type (Leisure , Educational , Business , Sports , Medical Tourism , Others (Event Travel Volunteer Travel etc)), by Appl...

Travel and Tourism Spending Market Report Description

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Competitive Landscape of the Travel and Tourism Spending Market

The competitive landscape of the Travel and Tourism Spending market is characterized by a diverse range of players, including travel agencies, tour operators, airlines, hotels, and online booking platforms, each vying for market share and customer loyalty.

Travel and Tourism Spending Industry News 

In July 2023, TUI Group launched a ChatGPT-powered chatbot on its U.K. app. This was the first of what is anticipated to be a series of rollouts that combine generative Al into the company's technology.

(Source:https://www.tuigroup.com/en-en/media/press-releases/2023/2023-08-17-tui-brings-chatgpt-to-its-mobile-app-in-uk)

In February 2023, Adris announced intentions to invest US$ 511 million in its tourist business Maistra through 2025 in an effort to expand its luxury category.

(Source: https://www.maistra.com/press/news/with-the-opening-of-the-grand-park-hotel-rovinj-adris-grupa-completes-the-monte-mulini-luxury-tourist-area/)

Top Companies Market Share in Travel and Tourism Spending Industry: (In no particular order of Rank)

• Carnival Corporation
• Airbnb Inc
• G Adventures
• Crown Resorts Limited
• TUI Group
• Adris Grupa d.d.
• Hilton Worldwide Holdings Inc
• Accor S.A.
• Balkan Holidays Ltd
• OYO Hotels & Homes
• Others
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of Travel and Tourism Spending

Which Region Dominates the Travel and Tourism Spending Market in 2024?

According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue. North America holds dominance in the Travel and Tourism Spending Market due to several key factors. the region boasts a strong and stable economy, with high levels of disposable income among its population. This enables North Americans to spend more on travel and tourism, both domestically and internationally. Additionally, North America has a well-developed tourism infrastructure, including transportation networks, accommodation options, and tourist services, making it a convenient and accessible destination for travelers.

Which Region is Expanding at the Fastest CAGR?

Asia Pacific is experiencing rapid growth in the Travel and Tourism Spending Market due to several key factors. The region's economic growth has led to a rise in disposable income and a growing middle class with an increased appetite for travel. Additionally, the rise of budget airlines and online booking platforms has made travel more affordable and accessible to a larger segment of the population in Asia Pacific. This has led to a surge in tourism activity, making Asia Pacific the fastest-growing region in the Travel and Tourism Spending Market.

The current report Scope analyzes Travel and Tourism Spending Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Travel and Tourism Spending Market

According to Cognitive Market Research, the global Travel and Tourism Spending market size was estimated at USD 14845295.6 Million out of which North America held the major market of more than 40% of the global revenue with a market size of USD 5938118.24 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.2% from 2024 to 2031.In North America, the Travel and Tourism Spending market is a dynamic sector driven by various factors. Regional analysis indicates that the United States and Canada are major contributors to the market, benefiting from well-developed tourism infrastructure, diverse attractions, and strong economic conditions. The region's tourism industry is segmented based on traveler type, with leisure travel being dominant. Conclusion reveals that North America's Travel and Tourism Spending market is robust, supported by a mix of leisure and business travelers, as well as a wide range of travel options and attractions.

Country Analysis

• According to Cognitive Market Research, the US had a major share in the Travel and Tourism Spending market with a market size of USD 4685175.29 million in 2024 and is projected to grow at a CAGR of 4.0% during the forecast period. The demand is amplified by the nation's strong economic conditions propel consistent growth. 
• The Canada Travel and Tourism Spending market had a market share of USD 712574.19 million in 2024 and is projected to grow at a CAGR of 5.0% during the forecast period. Canada's strong business environment and international trade relations to increased usage of Travel and Tourism Spending.
• The Mexico Travel and Tourism Spending market is projected to witness growth at a CAGR of 4.7% during the forecast period with a market size of USD 540368.76 million in 2024.

 

Europe Travel and Tourism Spending Market

According to Cognitive Market Research, the global Travel and Tourism Spending market size was estimated at USD 14845295.6 Million out of which Europe market of more than 30% of the global revenue with a market size of USD 4453588.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.5% from 2024 to 2031.In Europe, the Travel and Tourism Spending market is a diverse and vibrant sector driven by various factors. Regional analysis indicates that Europe is one of the world's leading tourist destinations, known for its rich history, cultural heritage, and diverse landscapes. The region's tourism industry is segmented based on traveler type, with leisure travel being dominant. Conclusion reveals that Europe's Travel and Tourism Spending market is resilient, supported by a mix of leisure and business travelers, as well as a wide range of travel options and attractions.

• The United Kingdom Travel and Tourism Spending market had a market share of USD 748202.90 million in 2024 and is projected to grow at a CAGR of 5.3% during the forecast period. In the UK, Travel and Tourism Spending sales witness an upswing due to the nation's consumers seeking relaxation, exploration, and cultural experiences.
• The France Travel and Tourism Spending market is projected to witness growth at a CAGR of 3.7% during the forecast period with a market size of USD 409730.16 million in 2024.
• According to Cognitive Market Research, the Germany Travel and Tourism Spending market size was valued at USD 881810.56 million in 2024 and is projected to grow at a CAGR of 4.7% during the forecast period. In Germany, Travel and Tourism Spending sales surge due to the nation's strong business environment and international trade relations. 
• The Italy Travel and Tourism Spending market is projected to witness growth at a CAGR of 3.9% during the forecast period with a market size of USD 383008.63 million in 2024.
• The Russia Travel and Tourism Spending market is projected to witness growth at a CAGR of 3.5% during the forecast period with a market size of USD 690306.25 million in 2024.
• The Spain Travel and Tourism Spending market is projected to witness growth at a CAGR of 3.6% during the forecast period with a market size of USD 365194.27 million in 2024.
• The Luxembourg Travel and Tourism Spending market is projected to witness growth at a CAGR of 4.6% during the forecast period with a market size of USD 138061.25 million in 2024.
• The Portugal Travel and Tourism Spending market is projected to witness growth at a CAGR of 4.3% during the forecast period with a market size of USD 93525.36 million in 2024.
• The Greece Travel and Tourism Spending market is projected to witness growth at a CAGR of 4.8% during the forecast period with a market size of USD 53443.06 million in 2024.
  • Rest of Europe Travel and Tourism Spending market is projected to witness growth at a CAGR of 3.2% during the forecast period with a market size of USD 690306.25 million in 2024.

 

Asia Pacific Travel and Tourism Spending Market

According to Cognitive Market Research, the global Travel and Tourism Spending market size was estimated at USD 14845295.6 Million out of which Asia Pacific is the fastest growing market of more than 23% of the global revenue with a market size of USD 3414417.99 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.0% from 2024 to 2031. In Asia Pacific, the Travel and Tourism Spending market is experiencing rapid growth, driven by several key factors. Regional analysis indicates that Asia Pacific is home to diverse cultures, landscapes, and attractions, making it a popular destination for both domestic and international travelers. The region's tourism industry is segmented based on traveler type, with leisure travel being dominant. This segment includes vacations, family trips, and adventure holidays, driven by consumers seeking relaxation, exploration, and cultural experiences. Conclusion reveals that Asia Pacific's Travel and Tourism Spending market is poised for further growth, driven by increasing affluence, improved infrastructure, and government initiatives to promote tourism.

• According to Cognitive Market Research, the China Travel and Tourism Spending market size was valued at USD 1536488.09 million in 2024 and is projected to grow at a CAGR of 7.5% during the forecast period. Travel and Tourism Spending sales surge in China due to the nation's growing business environment and increasing international trade relations.
• The Japan Travel and Tourism Spending market is projected to witness growth at a CAGR of 6.5% during the forecast period with a market size of USD 471189.68 million in 2024.
• The India Travel and Tourism Spending market had a market share of USD 409730.16 million in 2024 and is projected to grow at a CAGR of 9.8% during the forecast period. The demand is augmented by India's increasing international trade relations.
• The South Korea Travel and Tourism Spending market is projected to witness growth at a CAGR of 7.1% during the forecast period with a market size of USD 341441.80 million in 2024.
• The Australia Travel and Tourism Spending market is projected to witness growth at a CAGR of 7.7% during the forecast period with a market size of USD 177549.74 million in 2024.
• The South East Asia Travel and Tourism Spending market is projected to witness growth at a CAGR of 9.0% during the forecast period with a market size of USD 235594.84 million in 2024.
• The Rest of Asia Pacific Travel and Tourism Spending market is projected to witness growth at a CAGR of 7.8% during the forecast period with a market size of USD 242423.68 million in 2024.

 

South America Travel and Tourism Spending Market

• According to Cognitive Market Research, the global Travel and Tourism Spending market size was estimated at USD 14845295.6 Million out of which Latin America market of more than 5% of the global revenue with a market size of USD 742264.78 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.4% from 2024 to 2031. In Latin America, the Travel and Tourism Spending market presents a dynamic landscape shaped by various regional characteristics and trends. Regional analysis indicates that Latin America boasts diverse attractions, including historical sites, natural wonders, and vibrant cultures, making it a popular destination for tourists seeking unique experiences. The region's tourism industry is segmented based on traveler type, with leisure travel being predominant. Conclusion reveals that Latin America's Travel and Tourism Spending market holds immense potential for growth, driven by factors such as improved infrastructure, government initiatives to promote tourism, and a growing global interest in the region's unique offerings.
• According to Cognitive Market Research, the Brazil Travel and Tourism Spending market size was valued at USD 317689.33 million in 2024 and is projected to grow at a CAGR of 6.0% during the forecast period. Travel and Tourism Spending sales flourish in Brazil due to the nation's increasing disposable incomes contribute to significant spending in these categories.
• The Argentina Travel and Tourism Spending market had a market share of USD 124700.48 million in 2024 and is projected to grow at a CAGR of 6.3% during the forecast period. The demand is augmented by Argentina's investments in sustainable tourism practices and infrastructure.
• The Colombia Travel and Tourism Spending market is projected to witness growth at a CAGR of 5.2% during the forecast period with a market size of USD 66061.57 million in 2024.
• The Peru Travel and Tourism Spending market is projected to witness growth at a CAGR of 5.6% during the forecast period with a market size of USD 60865.71 million in 2024.
• The Chile Travel and Tourism Spending market is projected to witness growth at a CAGR of 5.7% during the forecast period with a market size of USD 53443.06 million in 2024.
• The Rest of Latin America Travel and Tourism Spending market is projected to witness growth at a CAGR of 4.5% during the forecast period with a market size of USD 119504.63 million in 2024.

Middle East Travel and Tourism Spending Market

According to Cognitive Market Research, the global Travel and Tourism Spending market size was estimated at USD 14845295.6 Million out of which Middle East and Africa market of more than 2.00% of the global revenue with a market size of USD 296905.91 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.7% from 2024 to 2031. In the Middle East and Africa (MEA) region, the Travel and Tourism Spending market reflects a diverse landscape shaped by unique cultural, historical, and natural attractions. The region's tourism industry is segmented based on traveler type, with leisure travel being the dominant segment. Conclusion reveals that the MEA region holds immense potential for further growth in the Travel and Tourism Spending market, driven by factors such as ongoing infrastructure development, government initiatives to promote tourism, and a growing global interest in the region's unique offerings.

• According to Cognitive Market Research, the GCC Countries Travel and Tourism Spending market size was valued at USD 127075.73 million in 2024 and is projected to grow at a CAGR of 6.5% during the forecast period. Travel and Tourism Spending sales flourish in the GCC Countries due to the region's ongoing infrastructure development, government initiatives to promote tourism.
• The Egypt Travel and Tourism Spending market is projected to witness growth at a CAGR of 6.0% during the forecast period with a market size of USD 31175.12 million in 2024.
• The South Africa Travel and Tourism Spending market is projected to witness growth at a CAGR of 6.7% during the forecast period with a market size of USD 46911.13 million in 2024.Travel and Tourism Spending sales flourish in the South Africa due to the region's government initiatives to promote tourism.

 

Travel and Tourism Spending Market Analysis

Travel and Tourism Spending Type Segment Analysis

According to Cognitive Market Research, the dominant category is leisure travel, which encompasses vacations, holidays, and recreational trips taken for relaxation, exploration, and enjoyment. Leisure travel holds a significant share of the market due to increasing disposable income, expanding vacation time, and growing awareness about the benefits of travel contribute to the dominance of leisure tourism.

The fastest-growing category in the Travel and Tourism Spending market is medical tourism, driven by the rising demand for affordable and high-quality healthcare services abroad. Medical tourism involves traveling to foreign countries to receive medical treatment, surgery, or wellness services at lower costs or with shorter waiting times compared to domestic healthcare options.

• Leisure 
• Educational 
• Business 
• Sports 
• Medical Tourism 
• Others (Event Travel Volunteer Travel etc)

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Travel and Tourism Spending Industry. Request a Free Sample PDF!

Travel and Tourism Spending Application Segment Analysis

According to Cognitive Market Research, the dominant category is domestic travel, Domestic travel accounts for a significant portion of total travel expenditure due to factors such as ease of access, familiarity with local destinations, and lower costs compared to international travel. Domestic travel is often preferred for short trips, weekend getaways, and visits to family and friends.

The fastest-growing category in the Travel and Tourism Spending market is international travel, driven by increasing globalization, rising disposable incomes, and growing awareness about international destinations. International travel involves visiting foreign countries for leisure, business, education, or other purposes. Factors such as expanding airline networks, visa liberalization, and the emergence of budget airlines have made international travel more accessible and affordable, driving its growth.

• Domestic 
• International

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Travel and Tourism Spending Traveler Type Segment Analysis

According to Cognitive Market Research, the dominant traveler type is the couple traveler. Couples often embark on trips together for leisure, romantic getaways, honeymoons, or anniversaries. This segment dominates due to the sheer volume of couples traveling worldwide, driven by factors such as rising disposable incomes, changing societal norms, and the desire for shared experiences. Couples tend to spend more on accommodations, dining, and activities, making them a lucrative segment for the travel industry.

The fastest-growing traveler type in the Travel and Tourism Spending market is the solo traveler. Solo travel has witnessed a surge in popularity in recent years, driven by factors such as increasing independence among travelers, the desire for self-discovery and exploration, and the rise of social media influencing solo travel trends.

• Solo Traveler
• Couple Traveler
• Group Traveler

Travel and Tourism Spending Travel Days Segment Analysis

According to Cognitive Market Research, the dominant category for travel days is less than 7 days. It is dominant due to several reasons, including the increasing popularity of short breaks as a way to escape from routine, limited vacation time for many travelers, and the rise of budget-friendly travel options that make short trips more accessible. Additionally, shorter trips often require less planning and are more affordable, appealing to a wide range of travelers looking for quick and convenient travel experiences.

The fastest-growing category for travel days is 16-30 days. This category includes medium-length vacations and extended trips. The growth in this category can be attributed to several factors, including the increasing trend of travelers seeking more immersive experiences, the desire to explore multiple destinations in one trip, and the rise of remote work, allowing individuals to travel for longer periods while still managing their professional responsibilities.

• Less than 7 Days
• 8-15 Days
• 16-30 Days
• More than 30 Days

Travel and Tourism Spending Travel Mode Segment Analysis

According to Cognitive Market Research, the dominant category for travel mode is travel packages. Travel packages are dominant due to their convenience and cost-effectiveness, as they often offer discounts and bundled services compared to booking each component individually. Additionally, travel packages appeal to travelers looking for hassle-free planning and a curated travel experience without the need for extensive research or coordination.

The fastest-growing category for travel mode is self-catered travel. The growth in this category can be attributed to several factors, including the rise of online booking platforms that make it easier for travelers to research and book individual components of their trip, the desire for more personalized travel experiences, and the flexibility and freedom that self-catered travel offer.

• Travel Packages
• Self-catered

Travel and Tourism Spending Booking Segment Analysis

According to Cognitive Market Research, the dominant category for booking is online booking. Online booking dominates due to its convenience, accessibility, and the wide range of options available to travelers. With just a few clicks or taps, travelers can compare prices, browse reviews, and book flights, accommodations, activities, and more, all from the comfort of their own homes or while on the go. Additionally, online booking platforms often offer exclusive deals, discounts, and loyalty programs, incentivizing travelers to book online.

The fastest-growing category for booking is offline booking. offline booking is experiencing growth due to several factors. Some travelers still prefer the personalized assistance and expertise offered by travel agents, especially for complex itineraries or special occasions. Additionally, offline booking allows for face-to-face interactions and the opportunity to ask questions and receive tailored recommendations from experienced travel professionals.

• Online
• Offline

Author's Detail

Swasti Dharmadhikari

Research associate at Cognitive Market Research

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Swasti Dharmadhikari, an agile and achievement-focused market researcher with an innate ardor for deciphering the intricacies of the Service & Software sector. Backed by a profound insight into technology trends and consumer dynamics, she has committed herself to meticulously navigating the ever-evolving terrain of digital Services and software solutions.

Author's Conclusion