admin The global leisure travel industry is projected to triple in size, soaring from $5 trillion in 2024 to a staggering $15 trillion by 2040, according to a recent report by Boston Consulting Group (BCG). This expansion is being fueled by rising middle classes in emerging markets and a global shift toward experience-led consumption.
Emerging Economies Take the Lead
Countries like China, India, Saudi Arabia, Bulgaria, and Cambodia are becoming central players in reshaping global tourism. As household incomes rise in these regions, more citizens are embarking on both domestic and international leisure travel. Domestic tourism alone is expected to generate $11.7 trillion by 2040, up from $4.1 trillion today, while regional travel is projected to exceed $2 trillion.
International leisure travel, though smaller in volume, will also see significant gains—tripling to reach $1.4 trillion. The availability of budget travel options and infrastructure development in Asia and the Middle East are catalysing this trend.
Travel Redefined: From Material Goods to Meaningful Experiences
The report also highlights a profound cultural shift: consumers are prioritising experiences over possessions. Millennials and Gen Z, in particular, are spearheading this movement. They are digitally savvy, experience-driven, and increasingly seek personalised, purpose-led travel.
New formats such as wellness tourism, “bleisure” (business + leisure), and multigenerational travel are gaining traction. Food tourism, spiritual journeys, and sustainable travel are becoming top motivators as travellers look for more enriching and ethical experiences.
Meanwhile, technology is playing a transformative role. AI-powered platforms and digital-first services are now essential for travel providers seeking to attract younger audiences. From chatbot-guided planning to tailored destination suggestions, personalisation is no longer optional.
A Digital, Diverse Future for Travel
As emerging economies grow and consumer expectations evolve, travel companies must invest in personalisation, sustainability, and digital infrastructure. The next wave of tourism will be driven not just by movement, but by meaning—making this one of the most dynamic shifts the global leisure market has ever seen.
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