Leisure travel market seen reaching $6.2T by 2033

The global leisure travel market was valued at $1.2 trillion in 2023 and is projected to hit $6.2 trillion by 2033, driven by digital tools, mobile booking and broader travel demand. The market report says artificial intelligence, big data and social media are reshaping how travelers plan and buy trips. Why it matters: - The leisure travel market is projected to nearly quintuple over the next decade, signaling major opportunities for travel platforms, suppliers and advertisers. - Growth in online booking, mobile-first planning and data-driven personalization could reshape how consumers choose and pay for trips. - The report highlights a market shift toward tech-enabled travel experiences across regions and customer groups. What happened: - Allied Market Research said the global leisure travel market was valued at $1.2 trillion in 2023. - The market is projected to reach $6.2 trillion by 2033. - The forecast calls for 18.3% compound annual growth from 2024 to 2033. - The report covers market size, share, competitive landscape and trend analysis by traveler type, age group, expenditure type and sales channel. - A sample report is available online. The details: - The report links future growth to artificial intelligence, big data and analytics, social media and machine learning. - Leisure travel companies are focusing on improving mobile experiences for travelers booking on their platforms. - Key companies profiled include 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. - The market is segmented by traveler type into solo and group travelers. - The market is segmented by age group into Baby Boomers, Generation X, Millennials and Generation Z. - The market is segmented by expenditure type into lodging, transportation, food and beverages, events and entertainment, and others. - The market is segmented by sales channel into conventional channels and online channels. - A purchase inquiry page is available for buyers. Between the lines: - Digitalization, informatization and globalization have accelerated leisure travel growth over the past few years. - Rising disposable income, logistics and infrastructure expansion, and government tourism promotion have supported outbound leisure travel. - The report says global outbound tourists surpassed 1.4 billion in 2018. - Leisure holidays remain the most preferred travel type, while adventure tourism has gained traction. - The report suggests mobile, AI and analytics adoption will be a key competitive factor for travel sellers. What’s next: - The report expects digital technologies, including artificial intelligence, big data and the Internet of Things, to stay central to leisure travel market development. - Travel companies are likely to keep investing in user experience to reach tech-savvy customers and capture future demand. - For more market coverage, Allied Market Research also lists reports on travel retail , bleisure travel , incentive travel and online travel . The bottom line: - Leisure travel is projected to grow fast through 2033, and the winners are likely to be companies that combine scale with better digital booking and personalization.