The global leisure travel market is set for explosive growth, projected to triple from $5 trillion in 2024 to $15 trillion by 2040, according to a new report from Boston Consulting Group. This surge is fueled by a rapidly expanding middle class in emerging markets, a global shift toward valuing experiences over possessions, and a growing emphasis on making lasting memories through travel. Domestic travel will be the primary driver, especially in countries like China, India, Saudi Arabia, and Vietnam, where local and regional trips are becoming increasingly popular.
By 2040, domestic leisure travel alone is expected to reach $11.7 trillion, up from $4.1 trillion in 2024, while regional and international leisure travel are set to triple to $2 trillion and $1.4 trillion, respectively. The future traveler is expected to be younger, more digitally savvy, and more diverse, with Millennials and Gen Z leading the way. These generations are taking more trips, spending more, and seeking out cultural exploration, wellness retreats, and food tourism, rather than just traditional beach vacations.
Emerging markets are outpacing traditional tourism powerhouses like the US, UK, and Germany, both in traveler numbers and spending. The rising popularity of solo travel, “bleisure” (combining business and leisure), and immersive, authentic experiences is reshaping the industry. Travel companies will need to adapt by offering personalized, tech-driven, and sustainable options to meet the evolving preferences of these new travelers
Key Points:
- Global leisure travel market to reach $15 trillion by 2040, tripling from 2024 levels.
- Domestic travel will account for $11.7 trillion, with regional and international segments also seeing major growth.
- Growth is led by emerging markets (China, India, Saudi Arabia, Vietnam) and younger, digitally savvy travelers.
- Travelers increasingly seek cultural, wellness, and food experiences, with solo and “bleisure” travel on the rise.
More Stories
Rising Anxiety Alters U.S. International Travel: Safety and Insurance Now Top Concerns
China Grants Indonesians 10-Day Visa-Free Transit Entry
Travelers Embrace Generative AI as Their Go-To Trip Planning Tool