The market size of the global tourism sector grew significantly in 2023 over the previous year, totaling around 1.9 trillion U.S. dollars. Despite the sharp annual increase, global tourism revenue remained below pre-pandemic levels. As forecast, the market size of the tourism sector worldwide was estimated at two trillion U.S. dollars in 2024. What is the economic impact of travel and tourism? In 2023, the total contribution of travel and tourism to global GDP, including the direct, indirect, and induced impact of these markets, was estimated at nearly 10 trillion U.S. dollars, almost recovering from the impact of the COVID-19 pandemic. Similarly, the number of travel and tourism jobs worldwide was just around one percent below pre-pandemic levels in 2023, with these industries generating, directly and indirectly, 330 million jobs. What are the most popular travel destinations worldwide? Both before and after the COVID-19 pandemic, France topped the ranking of the most visited countries by inbound tourists worldwide. In 2023, the number of inbound tourist arrivals in France peaked at 100 million, the highest figure reported to date. That year, Spain, the United States, and Italy followed on the list. Meanwhile, the United States was the country with the highest international tourism receipts worldwide in 2023, ahead of Spain and the United Kingdom.

The coronavirus (COVID-19) pandemic hit the travel and tourism market hard. While the number of international tourist arrivals worldwide roughly doubled in 2022 over the previous year, it remained below pre-pandemic levels. When looking at the percentage change in international tourist arrivals due to the health crisis, the region of Asia and the Pacific reported the sharpest drops. In that area, inbound visitors were 38 percent lower between January and September 2023 compared to 2019. Over the same period, global international arrivals experienced a 13 percent decline.

The number of international tourist arrivals worldwide increased across all regions in 2024 over the previous year. Except for the Asia-Pacific region, inbound tourist arrivals in 2024 exceeded pre-pandemic levels. Overall, Europe reported the highest volume of inbound travelers over the period considered, with around 747 million arrivals in 2024. What are the most visited countries by inbound travelers? With Europe being the most visited region by inbound travelers, it does not surprise that two European destinations top the ranking of countries with the highest number of inbound tourist arrivals worldwide. Both before and after the impact of COVID-19, France and Spain reported the most inbound tourist arrivals in the world, ahead of the United States. That said, the United States was the country with the highest international tourism receipt worldwide over the same period. What is the global economic impact of travel and tourism? According to the World Travel and Tourism Council (WTTC), the total contribution of travel and tourism to the gross domestic product worldwide reached just under 10 trillion U.S. dollars in 2023, nearly caching up with pre-pandemic levels. This figure refers to the direct, indirect, and induced impact of the global travel and tourism sector. Meanwhile, the total number of travel and tourism jobs worldwide exceeded 300 million that year.

According to Cognitive Market Research, the global Travel and Tourism Spending market size is USD 14845295.6 million in 2024 and will expand at a compound annual growth rate (CAGR) of 6.00% from 2024 to 2031.

North America held the major market of more than 40% of the global revenue with a market size of USD 5938118.24 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.2% from 2024 to 2031.
Europe accounted for a share of over 30% of the global market size of USD 4453588.68 million.
Asia Pacific held the market of around 23% of the global revenue with a market size of USD 3414417.99 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.0% from 2024 to 2031.
Latin America market of more than 5% of the global revenue with a market size of USD 742264.78 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.4% from 2024 to 2031.
Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 296905.91 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.7% from 2024 to 2031.
The Couple Traveler held the highest Travel and Tourism Spending market revenue share in 2024.

Market Dynamics of Travel and Tourism Spending Market

Key Drivers of Travel and Tourism Spending Market

Growing Disposable Income and Middle-Class Expansion to Increase the Demand Globally

The Travel and Tourism Spending Market is being significantly driven by the rise in disposable income and the expanding middle class in emerging economies. As more people enter the middle-income bracket, there is a noticeable shift in spending patterns towards leisure activities, including travel and tourism. This trend is particularly evident in countries like China, India, Brazil, and several Southeast Asian nations, where rapid economic growth has lifted millions out of poverty and into the middle class. The increasing affordability of travel, coupled with aspirations for new experiences and exposure to different cultures, is fueling the demand for tourism services and experiences.

Technological Advancements and Digitalization to Propel Market Growth

Another key driver for the Travel and Tourism Spending Market is the rapid advancement of technology and digitalization. The travel industry has undergone a profound transformation with the advent of the internet, smartphones, and various digital platforms. These technologies have made travel planning more accessible, convenient, and personalized, influencing consumer behavior and preferences. Online booking platforms, travel apps, and social media have revolutionized how people research, book, and share their travel experiences. Additionally, technologies such as virtual reality (VR) and augmented reality (AR) are enhancing the travel experience by offering immersive previews of destinations and attractions, further driving the demand for travel and tourism services.

Restraint Factors Of Travel and Tourism Spending Market

Economic Uncertainty and Exchange Rate Volatility to Limit the Sales

One of the key restraints affecting the Travel and Tourism Spending Market is economic uncertainty and exchange rate volatility. Fluctuations in exchange rates can affect the cost of travel, particularly for international tourists. A strong currency in the destination country can make travel more expensive for foreign visitors, leading to a decline in tourism spending. Similarly, economic downturns or recessions can result in reduced disposable income and consumer confidence, leading individuals to cut back on discretionary spending, including travel and tourism. Economic instability in key source markets can also impact outbound travel, affecting the overall tourism industry.

Impact of Covid-19 on the Travel and Tourism Spending Market

The Covid-19 pandemic has had a profound impact on the Travel and Tourism Spending Market, causing unprecedented disruptions worldwide. Travel restrictions, border closures, and lockdown measures implemented to curb the spread of the virus have led to a significant decline in tourism activity. The closure of hotels, restaurants, and attractions has resulted in massive revenue losses for the tourism industry. Travelers have canceled or postponed trips, leading to a sharp decline in tourist arrivals and spending. The aviation industry has been particularly hard hit, with airlines facing...

In a survey conducted in 2023 among New Zealanders on their views of tourism, around one-quarter of respondents agreed that international tourism had a very positive or somewhat positive impact on the country's environment. Around 30 percent of those surveyed said international tourism had a very negative or somewhat negative impact on the environment. In comparison, domestic tourism was viewed as more environmentally positive, with around two-fifths of respondents stating that domestic tourism had a very positive or somewhat positive impact.

The coronavirus (COVID-19) pandemic hit the tourism industry hard in 2020, with emergency measures adopted by many governments massively disrupting international travel. As a result, it was estimated that the United States recorded a tourism revenue loss of roughly 147 billion U.S. dollars between January and October 2020. Meanwhile, Spain reported the second-highest drop in tourism revenue, losing about 46.7 billion U.S. dollars over the period considered.

COVID-19, commonly referred to as the Coronavirus, is dominating headlines the world over. The travel & tourism sector is suffering significant disruption and intermediaries are very much affected. Read More

The United States sustainable tourism sector is likely to see steady growth throughout the forecast period 2025-2035. Keeping this fact in mind, the market is anticipated to be worth almost USD 761.3 Million by 2035 with a compound annual growth rate (CAGR) of 9.3% over the forecast period as travellers become more aware of their environmental impact, destinations all over the USA are making efforts to minimize carbon footprints, sustain local economies, and adopt sustainable tourism action plans.

Metric	Value
Market Size in 2025	USD 311.7 Million
Projected Market Size in 2035	USD 761.3 Million
CAGR (2025-2035)	9.3%

Region-wise Outlook

Region	CAGR (2025 to 2035)
Northeast USA	9.6%

Region	CAGR (2025 to 2035)
Midwest USA	9.2%

Region	CAGR (2025 to 2035)
Southeast USA	9.5%

Region	CAGR (2025 to 2035)
Southwest USA	9.7%

Competitive Outlook

Company/Organization Name	Estimated Market Share (%)
USA National Park Service (NPS) – Eco-Tourism & Conservation	20-25%
The International Ecotourism Society (TIES) –USA Sustainable Travel Network	12-16%
Xanterra Travel Collection (Eco-Hospitality in National Parks)	10-14%
Adventure Travel Trade Association (ATTA) – Sustainable Outdoor Travel	8-12%
Biosphere Responsible Tourism (Sustainable Tourism Certification in USA)	5-9%
Other Eco-Tourism Operators & Sustainable Hospitality Brands (combined)	30-40%

Austria International Tourism: Net: Hungary data was reported at -22.000 EUR mn in Sep 2024. This records a decrease from the previous number of 2.000 EUR mn for Jun 2024. Austria International Tourism: Net: Hungary data is updated quarterly, averaging 29.000 EUR mn from Mar 1995 (Median) to Sep 2024, with 119 observations. The data reached an all-time high of 195.000 EUR mn in Mar 2023 and a record low of -113.000 EUR mn in Dec 2001. Austria International Tourism: Net: Hungary data remains active status in CEIC and is reported by Oesterreichische Nationalbank. The data is categorized under Global Database’s Austria – Table AT.Q010: International Tourism: Receipts and Expenditures. [COVID-19-IMPACT]

How big is the Medical Tourism Market? The Medical Tourism Market size is expected to reach USD 84.92 billion in 2024 and grow at a CAGR of 23.03% to reach USD 239.37 billion by 2029.

   What is the current Medical Tourism Market size? 
   In 2024, the Medical Tourism Market size is expected to reach USD 84.92 billion.

   Who are the key players in Medical Tourism Market?
   Healthbase, Apollo Hospitals, KPJ Healthcare, Klinikum Medical Link and Medretreat are the major companies operating in the Medical Tourism Market. 

   Which is the fastest growing region in Medical Tourism Market? 
   Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). 

   Which region has the biggest share in Medical Tourism Market? 
   In 2024, the North America accounts for the largest market share in Medical Tourism Market. 

   What years does this Medical Tourism Market cover, and what was the market size in 2023? 
   In 2023, the Medical Tourism Market size was estimated at USD 65.36 billion. The report covers the Medical Tourism Market historical market size for years: 2021, 2022 and 2023. The report also forecasts the Medical Tourism Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

   What is the dominant segment contributing to the largest market share in Medical Tourism? 
   Cosmetic Treatment is the dominant segment that holds the major share of the Medical Tourism Market.

   The Global Medical Tourism Market Report provides a comprehensive industry analysis of the medical tourism market, segmented by treatment type and geography. The market overview highlights the various treatment types including cosmetic, dental, cardiovascular, orthopedics, bariatric, fertility, ophthalmic, and other treatments. The industry statistics indicate significant market growth driven by the increasing demand for affordable and high-quality medical care.<br><br>In terms of market segmentation, the report covers North America, Europe, Asia-Pacific, the Middle East and Africa, and South America, providing a detailed market forecast for each region. The industry size and market value are presented in terms of USD, reflecting the market's economic impact. The market trends and growth rate are analyzed to provide insights into future market predictions.<br><br>The report also includes an industry outlook, focusing on key market leaders and their strategies. The market review highlights the competitive landscape and the role of both private and public healthcare service providers. Additionally, the report examines alternative treatment options and their market share.<br><br>For those seeking more detailed information, the report example and report pdf are available for further industry research. The market data and industry reports offer valuable insights for companies looking to understand the market dynamics and make informed decisions. The industry trends and market outlook provide a clear picture of the market's future direction.<br><br>Overall, the Global Medical Tourism Market Report is an essential resource for understanding the market's growth forecast and industry worth. It provides a thorough market analysis and industry information, making it a valuable tool for research companies and stakeholders in the medical tourism industry.

   Medical Tourism Also Known As: Patient Mobility, Transnational Healthcare, Therapeutic Tourism, Medical Vacation, Health Travel

   Medical Tourism Report Covers the Following Regions: NA, North America, North American, Northern America, Northern American, EU, Europe, European, APAC, Asia Pacific, Asian, MEA, Middle East and Africa, Middle Eastern and African, MENA, Middle East, Middle Eastern, SA, South America, South American

   Medical Tourism Report Covers the Following Countries: USA, United States, US, Canada, Mexican, Mexico, DE, Germany, German, UK, United Kingdom, FR, France, French, IT, Italy, Italian, ES, Spain, Spanish, China, Chinese, JP, Japan, Japanese, IN, India, Indian, AU, Australia, Australian, KR, South Korea, South Korean, GCC, Gulf Cooperation Council, ZA, South Africa, South African, BR, Brazil, Brazilian, AR, Argentina, Argentine

According to Decipher Market Research, The Global Tourism Guidance Service market is growing at a compound annual growth rate (CAGR) of 8.1% from 2023 to 2030. Advancements in Technology and Digital Solutions to Drive Market Growth

The rapid evolution of technology is a major driving factor behind the global tourism guidance service market. Integrating digital solutions such as mobile apps, augmented reality(AR), virtual reality (VR), and GPS-based navigation has transformed how travelers access and engage with guided tours. These technologies enhance the tour experience by offering real-time information, interactive elements, and immersive storytelling. Travelers can use their smartphones or wearable devices to access guided tours that combine audio commentary, visual enhancements, and multimedia content, providing a multi-sensory journey. Moreover, the rise of online platforms and booking services allows tourists to conveniently discover, compare, and select guided tour options tailored to their preferences. The convenience, interactivity, and accessibility offered by technological advancements have expanded the reach of guided tours, attracted a wider audience, and contributed to the market's growth.

For instance, Expedia Group established a Verbo holiday rental website and smartphone application in Mexico in November 2019. This website and application assist Mexicans in quickly finding and selecting rental homes worldwide.

(Source:www.vrbo.com/media-center/press-releases/2019/vrbo-debuts-vacation-rental-website-and-app-in-mexico)

Market Dynamics of Tourism Guidance Service

Seasonal Fluctuations and Dependency to Hinder Market Share

One significant restraint in the tourism guidance service market is the inherent dependency on seasonal trends and fluctuations. Many tourist destinations experience peak and off-peak seasons based on weather, holidays, and special events. During peak seasons, there is high demand for guided tours, but off-peak periods can see a sharp decline in tourist numbers, leading to reduced bookings and revenue for tourism guidance service providers. This cyclicality can make it challenging for businesses to maintain consistent cash flow, plan staffing levels, and allocate resources effectively. Dependence on specific seasons also limits the diversification of offerings and can hinder the ability to sustain year-round operations.

Impact of COVID-19 on the Tourism Guidance Service Market

The COVID-19 pandemic profoundly impacted the tourism guidance service market, leading to widespread disruptions as travel restrictions, lockdowns, and health concerns significantly reduced travel and tourism activities. The market saw a sharp decline in tourist arrivals, resulting in canceled or postponed guided tours and a downturn in bookings. Social distancing measures and safety protocols necessitated adjustments in tour group sizes, transportation arrangements, and itinerary planning. Many tour operators faced financial challenges due to revenue loss. At the same time, digital transformation accelerated as virtual and self-guided tour options gained traction to cater to the changing preferences of cautious travelers. The pandemic prompted the industry to focus on health and safety standards, innovate with virtual experiences, and adapt operational strategies to ensure a resilient recovery in the post-pandemic landscape Introduction of Tourism Guidance Service

The tourism guidance service market is a vibrant and essential global travel and tourism industry sector. The market facilitates deeper cultural immersion, historical understanding, and engagement with local communities, creating memorable and enriching travel encounters. With the advent of advanced technologies and evolving traveler preferences, the tourism guidance service market is transforming and expanding, offering diverse guided tour options catering to various interests, age groups, and travel styles.

Key organizations are working on increasing their business portfolios by utilizing various innovative technologies to develop smart tourism. Emerging players are gathering funds to create various smart tourism guidance service applications.

For example, in January 2020, China-based travel company 'Chengdu Zhongke Daqi Software Co. Ltd' raised USD 5 million in funding to develop smart tourism guiding services.

(Source:skift.com/2020/01/10/daq-soft-raises-5-million-for-smart-to...

In a survey conducted in 2023 among New Zealanders on their views of tourism, around 58 percent of respondents agreed that international tourism had a very positive or somewhat positive impact on the country's culture, values, and heritage. Around six percent of those surveyed said international tourism had a very negative or somewhat negative impact on culture, values, and heritage in New Zealand.

United States Impact of COVID-19 on Travel Plans: Chose Not To Travel at All data was reported at 5.000 % in Feb 2023. This records an increase from the previous number of 4.000 % for Jan 2023. United States Impact of COVID-19 on Travel Plans: Chose Not To Travel at All data is updated monthly, averaging 6.000 % from May 2022 (Median) to Feb 2023, with 10 observations. The data reached an all-time high of 7.000 % in Nov 2022 and a record low of 4.000 % in Jan 2023. United States Impact of COVID-19 on Travel Plans: Chose Not To Travel at All data remains active status in CEIC and is reported by Longwoods International. The data is categorized under Global Database’s United States – Table US.Q010: Travel Sentiment.

The global ecotourism market, valued at $836.33 million in 2025, is poised for significant growth. While the provided CAGR is missing, considering the increasing global awareness of environmental sustainability and the rising popularity of experiential travel, a conservative estimate of 5-7% annual growth is reasonable for the forecast period (2025-2033). This translates to a market size exceeding $1.2 billion by 2033, driven by factors such as increased disposable incomes in developing economies, a growing preference for sustainable and responsible travel experiences, and advancements in eco-friendly tourism infrastructure. The market segmentation reveals strong demand across various age groups, with the 30-50 year old demographic likely representing a substantial portion of the market. The diverse range of ecotourism types, from mountain treks to marine expeditions and culturally enriching experiences, caters to a broad spectrum of traveler preferences, further fueling market expansion. Several challenges, however, may influence the market's trajectory. These include the vulnerability of ecosystems to overtourism, the need for robust regulatory frameworks to ensure sustainable practices, and the potential impact of geopolitical instability or economic downturns on international travel. Addressing these challenges requires collaboration between governments, tourism operators, and travelers to promote responsible tourism practices and prioritize environmental conservation. The success of the ecotourism sector hinges on its ability to balance economic growth with environmental protection and social equity. Key players in the market are continuously innovating to offer unique and sustainable experiences, thereby enhancing the sector’s appeal to the environmentally conscious traveler.

The global outdoor adventure tourism market, currently valued at approximately $40 billion (assuming a value unit of 'million' refers to millions of dollars), is projected for substantial growth. While the precise CAGR is unavailable, considering the increasing popularity of experiential travel and growing disposable incomes globally, a conservative estimate would place the annual growth rate between 5% and 7% over the forecast period (2025-2033). Several factors drive this expansion. The rising middle class in emerging economies, coupled with a global trend towards health and wellness, fuels demand for adventure activities. Technological advancements, such as improved gear and enhanced accessibility to remote locations through improved infrastructure, further contribute to market growth. The market is segmented by type (aerial, land, water) and application (personal, commercial), reflecting diverse consumer preferences and business models. Land-based adventures, encompassing hiking, trekking, and wildlife safaris, currently dominate the market, followed by water-based activities like kayaking and scuba diving. The commercial segment, comprising organized tours and adventure travel packages, is experiencing significant growth, driven by convenience and curated experiences offered by established operators like Travelopia, REI Adventures, and Abercrombie & Kent. Geographic expansion is also a key trend, with destinations beyond traditional hotspots gaining popularity. However, the market faces certain restraints. Environmental concerns, including the impact of tourism on fragile ecosystems, pose a challenge. Economic fluctuations and geopolitical instability can also affect travel patterns. Furthermore, safety concerns and the need for robust risk management strategies are crucial considerations for operators. The increasing emphasis on sustainable and responsible tourism will shape the industry's future, requiring operators to prioritize environmental protection and community engagement. Growth will likely be strongest in regions with developing infrastructure and unique natural landscapes, particularly in Asia-Pacific and South America, though North America and Europe will retain significant market shares due to established tourism industries and high consumer spending power. This market analysis suggests a promising outlook for outdoor adventure tourism, provided operators adapt to changing consumer preferences and prioritize sustainability.

The COVID-19 pandemic has devastated the global tourism industry. This study explores why some Chinese residents travel during the pandemic. A mixed-methods research design was adopted, guided by the health belief model and relevant literature. Through 21 interviews with Chinese tourists who took an overnight leisure trip in May 2020, and a national survey among Chinese residents, this study explored factors influencing Chinese residents’ travel-related decisions and behaviors during the pandemic. Results outline the influences of health beliefs, government trust, past travel experience, and psychological capital on tourists’ risk-reduction behaviors. Theoretical and practical implications are provided regarding tourism recovery during pandemics.

This website provides statistics on the economic value of visitors to the state of Virginia. The analysis is commissioned by the Virginia Tourism Corporation, and is conducted by Tourism Economics, LLC. The analysis is based on multiple data sources, including the US census, STR, Longwoods International, lodging and sales tax receipts, and employment and wage data from the Bureau of Economic Analysis and Bureau of Labor Statistics. By combining these datasets, a comprehensive view of visitor activity is developed that is consistent with official economic and industry data for the state. The analysis measures visitor spending by category, tourism employment, personal income, and taxes generated by visitor activity. The data are available for several years of history and can be viewed and downloaded at the state level.

Ireland IE: International Tourism: Expenditures: for Passenger Transport Items data was reported at 92.000 USD mn in 2016. This records a decrease from the previous number of 95.000 USD mn for 2015. Ireland IE: International Tourism: Expenditures: for Passenger Transport Items data is updated yearly, averaging 108.500 USD mn from Dec 1999 (Median) to 2016, with 18 observations. The data reached an all-time high of 129.000 USD mn in 2007 and a record low of 80.000 USD mn in 2002. Ireland IE: International Tourism: Expenditures: for Passenger Transport Items data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Ireland – Table IE.World Bank.WDI: Tourism Statistics. International tourism expenditures for passenger transport items are expenditures of international outbound visitors in other countries for all services provided during international transportation by nonresident carriers. Also included are passenger services performed within an economy by nonresident carriers. Excluded are passenger services provided to nonresidents by resident carriers within the resident economies; these are included in travel items. In addition to the services covered by passenger fares--including fares that are a part of package tours but excluding cruise fares, which are included in travel--passenger services include such items as charges for excess baggage, vehicles, or other personal accompanying effects and expenditures for food, drink, or other items for which passengers make expenditures while on board carriers. Data are in current U.S. dollars.; ; World Tourism Organization, Yearbook of Tourism Statistics, Compendium of Tourism Statistics and data files.; Gap-filled total;

Austria International Tourism: Net: Poland data was reported at 48.000 EUR mn in Sep 2024. This records an increase from the previous number of 40.000 EUR mn for Jun 2024. Austria International Tourism: Net: Poland data is updated quarterly, averaging 22.000 EUR mn from Mar 1995 (Median) to Sep 2024, with 119 observations. The data reached an all-time high of 173.000 EUR mn in Mar 2024 and a record low of -23.000 EUR mn in Dec 2000. Austria International Tourism: Net: Poland data remains active status in CEIC and is reported by Oesterreichische Nationalbank. The data is categorized under Global Database’s Austria – Table AT.Q010: International Tourism: Receipts and Expenditures. [COVID-19-IMPACT]

Vanuatu VU: International Tourism: Expenditures: for Passenger Transport Items data was reported at 4.000 USD mn in 2015. This stayed constant from the previous number of 4.000 USD mn for 2014. Vanuatu VU: International Tourism: Expenditures: for Passenger Transport Items data is updated yearly, averaging 4.000 USD mn from Dec 1995 (Median) to 2015, with 17 observations. The data reached an all-time high of 6.000 USD mn in 2012 and a record low of 2.000 USD mn in 2007. Vanuatu VU: International Tourism: Expenditures: for Passenger Transport Items data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Vanuatu – Table VU.World Bank: Tourism Statistics. International tourism expenditures for passenger transport items are expenditures of international outbound visitors in other countries for all services provided during international transportation by nonresident carriers. Also included are passenger services performed within an economy by nonresident carriers. Excluded are passenger services provided to nonresidents by resident carriers within the resident economies; these are included in travel items. In addition to the services covered by passenger fares--including fares that are a part of package tours but excluding cruise fares, which are included in travel--passenger services include such items as charges for excess baggage, vehicles, or other personal accompanying effects and expenditures for food, drink, or other items for which passengers make expenditures while on board carriers. Data are in current U.S. dollars.; ; World Tourism Organization, Yearbook of Tourism Statistics, Compendium of Tourism Statistics and data files.; Gap-filled total;