Travel- Market Scope
The global travel market is experiencing steady growth, driven by increasing disposable incomes, evolving consumer preferences, and the rising demand for unique travel experiences. Leisure travel dominates the industry, accounting for nearly 75% of total travel spending, fueled by a rising preference for experiential tourism, luxury vacations, and sustainable travel options. Business travel, though affected by the shift to remote work, is regaining momentum, particularly in regions emphasizing corporate networking and conferences. Technology plays a key role in reshaping the travel industry, with AI-driven personalized recommendations, digital booking platforms, and contactless services enhancing the customer experience. Online travel agencies (OTAs), such as Booking.com, Expedia, and Airbnb, continue to gain market share, while direct bookings through airline and hotel websites remain strong. Sustainable tourism is also a major trend, with travelers prioritizing eco-friendly accommodations, carbon footprint reduction, and responsible tourism initiatives. Regionally, Asia-Pacific leads the market due to rising outbound tourism from China and India, while Europe remains a top destination. The Middle East is witnessing rapid growth, fueled by large-scale tourism projects in the UAE and Saudi Arabia. Despite economic uncertainties and geopolitical factors, the travel market remains resilient, adapting to new consumer demands and technological advancements to sustain long-term growth.
Attributes | Details |
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Study Period | 2020-2032 |
Base Year | 2024 |
Unit | Value (USD Million) |
Key Companies Profiled | Booking Holdings (United States), Expedia Group (United States), Airbnb (United States), Trip.com Group (China), Trivago (Germany), American Express Global Business Travel (United States), TUI Group (Germany), Marriott International (United States), Hilton Worldwide Holdings (United States) and InterContinental Hotels Group (IHG) (United Kingdom) |
CAGR | % |
Travel is highly competitive, with several key players dominating the industry. The market players are focused on developing a variety of features and benefits to meet the needs. Thus, constantly introducing new innovation in processing to meet the changing needs and preferences of consumers. The companies are also planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Research Analyst at AMA estimates that Global Vendors will contribute to the maximum growth of Global Travel- market throughout the predicted period.
Booking Holdings (United States), Expedia Group (United States), Airbnb (United States), Trip.com Group (China), Trivago (Germany), American Express Global Business Travel (United States), TUI Group (Germany), Marriott International (United States), Hilton Worldwide Holdings (United States) and InterContinental Hotels Group (IHG) (United Kingdom) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are AccorHotels (IFrance), MakeMyTrip (India), Hopper (Canada), Ctrip (China) and Skyscanner (United Kingdom).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Travel- market by Type and Region with country level break-up.
On the basis of geography, the market of Travel- has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2024.
Market Leaders and their expansionary development strategies
In January 2025, Virgin Australia and Qatar Airways commenced a partnership allowing Australians to book international flights to over 100 destinations starting December 12. This collaboration aims to increase competition, especially for flights to Europe, the Middle East, and Africa, offering more affordable long-haul options. Virgin Australia, returning to the international market after over four years, will operate new services using Qatar Airways' Boeing 777s
On March 12, 2025, Etihad Airways launched a free Abu Dhabi pass for its passengers, offering a tourist SIM card with 10GB data, unlimited access to public buses and hop-on-hop-off tourist buses. This initiative aims to enhance tourists' experiences by providing discounts at over 200 restaurants, cultural venues like Qasr Al Watan and Louvre Abu Dhabi, and entertainment destinations on Yas Island, including Ferrari World and Warner Bros. World. Passengers booking through etihad.com with a stopover in Abu Dhabi can also enjoy up to two nights of free hotel accommodation.
Influencing Trend:
Personalized and AI-Driven Travel Experiences
Market Growth Drivers:
Rising Disposable Income and Middle-Class Expansion and Rise of Budget Airlines and Accommodation Platforms
Challenges:
Economic Uncertainty & Inflation
Restraints:
Regulatory and Visa Restrictions
Opportunities:
Rise of Smart Tourism and Growth of Sustainable & Local Tourism
Key Target Audience
Government Authorities, Research and Development, Investors, Venture Capitalist and Third Party Knowledge Providers