Leisure Travel Market

1. Leisure Travel Market The Global Leisure Travel Market size is estimated at US$ 1006.5 billion in 2021 to reach a valuation of US$ 1741.3 billion by the end of 2027 with a compound annual growth rate (CAGR) of 23% during the forecast period of 2022 - 2027. Leisure travel is comprised of various different sub-industries that make up the various aspects of traveling for pleasure or leisure which includes transportation and lodging as well as any reservations and packages for tours and other entertainment and recreation activities. Market Driving Factors: The rise in disposable income is one of the major driving factors of the Leisure Travel market growth rate. Another major driving factor of the Leisure Travel market was a rise in digitalization, informatization, and the upgradation of globalization. Expansion of logistics & infrastructure, rigorous promotion & advertising of tourism by governments are some of the growth-supporting factors of the market Leisure Travel revenue rate. To More Read: https://www.marketdataforecast.com/market-reports/leisure-travel-market Market Challenges Regulations imposed by the government authorities due to the covid pandemic are one of the major restraints which hinder the growth of the Leisure Travel Market. Another major restraint that is affecting the growth of the market of Leisure Travel was the competition from various tourism companies. Market Segmentation Leisure Travel Market – By Traveller Type: •solo traveller type •and group traveller type Among these segments, the solo traveller type segment holds the major share of the market among the others due to the increase of people who are exploring more in most countries. Leisure Travel Market – By Sales Channel: •conventional channels •online channels Among these segments, the online segments hold the major share of the market owing to the growth in demand for online sales channels across the globe. Leisure Travel Market – By Age Group: •baby boomers •generation X

2. •Millennials •generation Z Among these segments, the Millenials hold the major share of the market as they are getting more popular among people across the world. Market Regional Analysis: The Leisure Travel market is elaborated in various regions all around the world such as •North America - (US, Mexico, Canada, and rest of North America) •Europe - (France, Germany, Italy, UK, Spain, and the rest of Europe) •Asia Pacific - (China, India, Japan, Australia, and the rest of Asia Pacific) •Latin America - (Brazil, Argentina, Mexico, Rest of Latin America) •Middle East & Africa Asia Pacific region holds the major share of the market due to the rapid development of global outbound tourism is also a major driving factor that helps the growth of the market of Leisure Travel in the Europe region. Furthermore, increasing investments and development in some of the emerging economies such as India, China, and Australia to promote tourism for their respective countries are also some of the major driving factors that propel the growth of the market for Leisure Travel in the Asia Pacific region. Click the link to get a Sample Copy of the Report: https://www.marketdataforecast.com/market-reports/leisure-travel-market/request- sample Covid-19 impact on Leisure Travel Market: Coronavirus has impacted global industries in three ways, by directly affecting production and demand, by creating supply chain and market disruption, and by its financial impact on firms and financial markets due to the strict lockdown which was imposed by government authorities all around the world. Due to the lockdown, companies are forced to halt their manufacturing units for a period of time to eradicate the spread of coronavirus as it was spreading at a rapid speed from one person to another. ABOUT US: Market Data Forecast is a firm working in market research, business intelligence, and consulting. We have rich research and consulting experience for various business domains to cater to individual and corporate clients’ needs. Contact Us: Market Data Forecast Website: https://www.marketdataforecast.com Phone: +1-888-702-9626 Email: contact@marketdataforecast.com