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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Tourism Market Growth
The tourism demand forecast is impacted by many countries like Saudi Arabia, Qatar, and China that are attempting to enhance their international standing by creating sustainable infrastructure for hosting international sporting events. As a part of its $2.7 billion investment, Saudi Arabia is planning to expand its existing facilities for seating in the Prince Faisal Bin Ahad Stadium to host the Asian Football Confederation’s Asian Cup in 2027. Since sports tourism accounts for 10% of the world’s overall tourism expenditure, Saudi Arabia is expected to solidify its position as a key region in the Middle East and Africa for sports enthusiasts, thereby driving the growth of the tourism industry.
As per the Travel and Tourism Development Index (2024) released by the World Economic Forum, iconic landmarks, delectable cuisines, and renowned culture of countries like the USA, Spain and Japan made them leaders of the global tourism landscape. In 2023, the USA, Spain, and Japan cumulatively attracted over 180 million travellers. With the number of people visiting American Hollywood, Spain’s various beaches and Japan’s iconic temples increasing, the market is expected to witness significant growth.
As per the tourism industry analysis, sustainability is expected to play a crucial role in shaping the tourism landscape in the forecast period. Stakeholders in the market are attempting to make tourism activities more resilient, eco-friendly, inclusive, and carbon-neutral. Moreover, the development of sustainable accommodations and green transportation solutions is expected to further revolutionise the market in the coming years.
Tourism Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market was valued at nearly USD 9.24 trillion in 2023.
The market is estimated to grow at a CAGR of 4.7% between 2024 and 2032.
The market is assessed to witness a healthy growth in the forecast period to reach around USD 13.96 trillion in 2032.
The market is categorised according to the tourism type, which includes domestic tourism and international tourism.
Based on the travel days, the market is divided into less than 7 days, between 7 – 15 days and more than 15 days.
Based on the travel purpose, the market is divided into business spending, leisure spending and others.
The market is broken down into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
The market key players are TUI AG, Booking Holdings Inc., Expedia Group Inc., Despegar.com, Corp., Contiki, Butterfield & Robinson Inc., Geographic Expeditions Inc., ROW Adventures, MT Sobek’s, and G Adventures Inc., among others.
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