Leisure travel is a form of vacation that involves a number of activities ranging from visiting new location, staying in resorts or hotel, experiencing various tourist attractions to going to health clubs and more. People often opt for leisure travel to unwind and experience new cultures, and meet new people.
The leisure travel economy comprises a well-entrenched biosphere of industries including but not limited to logistics, accommodation, food, retail, recreation and other tourism services, Companies, large and small in associated industries continuously strive to create experiences bringing people together, supporting communities and boosting economics of country. Substantial investment on tourism has multiplier effects in the expansion of the economy including infrastructure development, stimulating private investment, aggregating demand, and creating jobs. Tourism offers direct and indirect aid to a nation’s economy. Therefore, it has garnered high attention from the tourism development experts, policy makers, and industry leaders, especially in the developing regions of Asia-Pacific and Africa region.
Recent years have seen paradigm shift towards experience rather than goods. Spending on consumer durables, apparels have faltered; however, experiential spending on recreation, travel, and eating have seen rapid growth. As a result, travel is outpacing the demand for goods. The trend is in sync with growing number of global outbound tourists in the last few years. The robust growth is estimated to continue in future, driven primarily by the expansion of low-cost airlines, government initiatives, and technological advancements.
While expansion in the tourism industry has led to creation of jobs, a proliferation of tour operators, and increased ease in booking accommodation, logistics and services, the growth comes with its own set of unique challenges?economic slowdown, infrastructure, and political tensions, among others.
The leisure travel market has been segmented based on traveler type, sales channel, age group, and region. Based on traveler type, the leisure travel market is bifurcated into solo and group. Based on sales channel, the global market is studied across conventional channels, and online channels. The report also gives insights on leisure travel market by age group that includes baby boomers, generation X, Millennials, and Generation- Z. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA
The key players profiled in the report includes Expedia Group, Priceline Group, Carlson Wagonlit Travel, JTB Americas Group, World Travel, Inc., American Express Travel, Travel Leaders Group, TUI Group., Thomas Cook (India) Limited and Cox & Kings Ltd.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a quantitative analysis of the current trends, estimations, and dynamics of the leisure travel market from 2018 to 2026 to identify the prevailing market opportunities.
- The key countries in all the major regions are mapped based on their market share.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
- In-depth analysis of the market segmentation assists in determining the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global industry. Market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of market players.
- The report includes the analysis of the regional as well as global market, key players, market segments, application areas, and growth strategies.
KEY MARKET SEGMENTS:
- By Type
- By Sales Channel
- ·Conventional Channels
- ·Online Channels
- By Age Group
- ·Baby Boomers
- ·Generation X
- ·North America
Rest of Europe
Rest of Asia-Pacific