Market Snapshot:
Destination Travel is the conduct of spending time away from one's everyday routine or home in the pursuit of recreation, relaxation, or pleasure while employing commercial services. Tourists visit a tourist attraction because of its inherent or shown natural or cultural value, historical significance, natural or artificial beauty, and leisure and entertainment. Beaches, tropical island resorts, national parks, mountains, deserts, and woods are examples of natural beauty. Traditional tourist attractions include places of natural beauty such as beaches, tropical island resorts, national parks, mountains, deserts, and woods. Tourists have always flocked to specific locations. The Destination Travel industry has emerged as one of the fastest expanding industries in the global economy, contributing considerably to global growth and development. The desire for greater service standards has risen as disposable income has increased and upper middle-class spending has increased.
Highlights from Destination Travel Market Study
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The key Vendors profiled in the report are Booking.com (Netherlands), Expedia Group (United States), American Express Global Business Travel (GBT) (United States), BCD Travel (Netherlands), CWT (United States), Flight Centre Travel Group (Australia), Direct Travel (United States), American Automobile Association (United States), Frosch (United States) and Omega World Travel (United States). Additionally, other players that are part of this comprehensive study are Agoda (Singapure), Hotwire, Inc. (United States), Kiwi.com (Czech Republic), Skyscanner Ltd (United Kingdom) and Triangle Travel Private Limited (India).
Geographic Breakdown and Segment Analysis
The Global Destination Travel market presents a comprehensive analysis of the Destination Travel market by product type (Ethnic Destinations, Cultural Destinations, Historical Destinations, Environmental Destinations and Business Destinations), by end-user/application (Solo and Family/Group), and by geography (North America, South America, Europe, Asia-Pacific and MEA) along with country level break-up. This section of our report presents a realistic picture of the Global Destination Travel industry. Investors and Vendors can easily understand the inherent opportunities and challenges for their products in geographical region of interest.
For instance, while the holds majority of market share of the Destination Travel market
Analyst at AMA have segmented the market study of Global Destination Travel market by Type, Application and Region.
Influencing Trend:
Developments In The Tourism Industry Are Likely To Fuel The Growth Of The In-Destination Travels and Increasing Popularity Of Solo Travel Is Creating New Opportunities For Destination Travel
Market Growth Drivers:
Growing Number Of Global Outbound Tourists, Rising Disposable Income Of People and Growing Demand From The Vacationer For Site Seeing And Exploring Foreign Culture As Well As Cuisines Is Expected To Boost Market Growth
Challenges:
Unpredictable Climatic Conditions, As Well As Chances Of Mishaps Are Expected To Hamper The Growth Of The Global Destination Travel
Restraints:
Economic Slowdown Due To COVID-19 Pandemic
Opportunities:
Rapidly Expansion In The Tourism Industry and Low Cost Of Airlines And Government Initiatives Leads The Growth Of Market
Market Developments Activities:
In September 2023, Destination Sport acquired FA travel partner Sportsworld. the official travel partner to The FA, Sportsworld is responsible for arranging travel programmes for England’s national teams including recent major tournaments in Qatar and Australia and New Zealand
In January 2020, Booking.com is treading a familiar path with the launch of a pilot project that will help gauge what features can be eventually be fed into the brand's main app. The app, known as CityBook, is a "digital guide" for destinations that will combine content, planning tools such as maps, navigation and experiences., and On 7 December 2021, American Express Global Business Travel (GBT) has entered into a multi-faceted strategic partnership with Sabre, focused on developing technologies that will enable the future of corporate travel distribution.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Key Target Audience
Destination Travel Provider, New Entrants and Investors, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others