Tourism Market Size & Share, by Type (Domestic, International); Purpose (Adventure, Business, Medical, Conference or Seminar, Religious, Educational) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 109
  • Published Date: Feb 14, 2023
  • Report Format: PDF, PPT

Global Tourism Market Definition

The tourism industry, also defined as the travel industry, is associated with the concept of people heading towards other places, either domestically or internationally, for recreation, cultural, or professional reasons. It is closely related to the hotel, hospitality, and transportation industries, a significant portion of it focused around keeping tourists happy, occupied, and quite well during their trip away from home. Tourism increases the economy of a region, also generates job opportunities, improves the infrastructure of the region, and raises communication between foreign and native citizens.

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Global Tourism Market: Key Insights

Base Year


Forecast Year




Base Year Market Size (2023)

~ USD 6 Billion

Forecast Year Market Size (2035)

~ USD 9 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of Middle East and Africa)

Global Tourism Market : Growth Drivers and Challenges


Growth Drivers

  • Increasing Preference for Experiential Tours, Especially Among Millennials – The millennials are more attracted to experiential tours to experience the hotels, resorts, culture, and luxury. These tours are reasonable for what the company offers which includes all the facilities such as food, accommodation, and entertainment. Experiential tours can be on trains, ships, planes, or in territorial hotels. The expenditure on experiential tours as per 2022 estimations was more than 30% of 2019 statistics with 33% of spending on recreational activities.

  • Increasing Per Capita Income of the People in Low and Middle-Income Countries - Increasing per capita income across the globe is leading people to spend more for their recreational activities. For instance, the global GDP growth for the year 2022 was estimated to reach approximately 3%.

  • Growing Trend of Sustainable Tourism Owing to Increasing Concern of People About the Environment - As travelers strive to reduce the environmental impact of tourism, in such case, sustainable tourism has emerged as a growing trend. In 2021, the growth in the figure of people exploring sustainable travel options reached above 70%.

  • Surge in Socio-Economic Growth with Rising Number of Students Studying Abroad – Socio-economic growth is a procedure that focuses on social power in exact correlation to cultural level rises. Therefore, the relevance of tourism to socio-economic development and growth with an escalating number of national and foreign destinations is quite significant. According to the data released by the World Bank, in 2019, the number of arrivals in international tourism around the globe reached 2.4 billion.

  • Escalating Trend of Low-Cost Carriers (LCCs) as People are More Inclined Towards Low-Budget Travelling - Low-cost carriers are mainly cheap as compared to traditional airlines. As a result, people are more inclined to travel via these carriers to cut the cost of traveling. So far, LCC seat share on intra-European routes has increased throughout 2022. It is nearly 52% in the second week of April 2022, contrasted to 45% in the same week in 2019.


  • Outbreak of Fatal Diseases Such as Swine Flu, COVID-19, and Ebola

The rise of communicable diseases such as COVID-19, flu, and Ebola adversely affects the healthcare infrastructure of the world. The economy, socio-political and cultural environment was equally affected during the COVID-19 pandemic. The occurrence of swine flu killed between 800 to 1.5 billion. COVID-19 had more than 10% of infected cases be fatal. Also, it is discovered that migrants carried most of the infections. So, to cut off the spread government ceased all means of traveling which hinders the market growth.

  • Rising Natural Disasters Destroying the Economic Status of People

  • Surging Geopolitical Tension Across the World

The global tourism industry market is segmented and analyzed for demand and supply by purpose into adventure tourism, business, medical, conference or seminar, religious, educational tourism, and others. Out of these sub-segments, the medical segment is expected to obtain the highest share over the forecast period owing to the improvement, and restoration of tourists’ health through cost-effective healthcare facilities, the presence of skilled and experienced professionals, easy availability of infrastructure and medical equipment, and better treatment options available in other countries. For instance, the Australian government is estimated to spend over USD 100 billion in 2022–2023 to strengthen the nation's healthcare system.

Market Segmentation

Our in-depth analysis of the global Tourism Market  includes the following segments:

         By Type


  • Domestic
  • International Tourism


       By Purpose

  • Adventure Tourism
  • Business
  • Medical
  • Conference
  • Seminar
  • Religious
  • Educational Tourism
  • Others 

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Global Tourism Market Regional Synopsis

Regionally, the global Tourism Market  is studied into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. Amongst these markets, the market in Europe is projected to hold the largest market share by the end of 2031 owing to the rising disposable income and growing technological and digital advancements. As per the data provided by the European Commission, cloud computing usage increased to 34% during the pandemic. Furthermore, 66% of populous places had 5G connectivity by the end of 2021. Furthermore, the presence of various historic sites in the region is also projected to propel the growth of the market over the forecast period.

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Top Featured Companies Dominating the Global Tourism Market

    • Airbnb, Inc.
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • G Adventures, Inc.
    • TUI AG
    • Balkan Holidays Limited
    • Accor Group
    • DuVine Cycling + Adventure Co.
    • Gray & Co.
    • American Express Company
    • Omega World Travel, Inc.
    • World Travel Holdings     


In The News

  • Airbnb, Inc. is supporting the Seoul Tourism Organization's Global Fair and Sustainable Travel Contest, an initiative to promote fair and sustainable travel practices, which has also been approved as an official program of the World Tourism Organization (UNWTO) in 2022.
  • TUI AG, through its TUI Care Foundation, is going to collaborate with Green Phenix and Mambo Beach to launch a new initiative to make Curacao cleaner. As a result of the installation of recycling stations along Mambo Boulevard, waste is being collected, and brought to a recycling facility where it is recycled into new useful products. This project is part of the Destination Zero Plastic program of the TUI Care Foundation.

Author Credits:  Yashika Karodiwal, Radhika Gupta

  • Report ID: 109
  • Published Date: Feb 14, 2023
  • Report Format: PDF, PPT

Key Questions Answered in the Report

1) What are the major factors driving the growth of the tourism market?

Ans: Socio-economic capita income, the growing trend of sustainable tourism, and surge in socio economic growth are some major factors driving the growth of the market.

2) What would be the CAGR of tourism market over the forecast period?

Ans: The market is anticipated to attain a CAGR of ~3% over the forecast period, i.e., 2023 – 2035.

3) What are the challenges affecting the tourism market growth?

Ans: Outbreaks of fatal diseases such as swine flu, Ebola, and COVID-19, and rising natural disasters affecting the economy of people are the challenges affecting the market growth.

4) Which region will provide more business opportunities for growth of tourism market in future?

Ans: The market in North America region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.

5) Who are the major players dominating the tourism market?

Ans: The major players in the market are G Adventures, Inc., TUI AG, Balkan Holidays Limited, Accor Group, DuVine Cycling + Adventure Co., Gray & Co., American Express Company, Omega World Travel, Inc., and others.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue-generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the tourism market?

Ans: The market is segmented by type, purpose, and by region.

8) Which segment captures the largest market size in purpose segment in the tourism market?

Ans: The medical segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.


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