Global Tourism Market size was worth around $11.39 trillion in 2023 and is predicted to grow to around $18.44 trillion by 2032 with a CAGR of 5.5%.

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.

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Online Travel Agencies IT spending Market Size 2024-2028

The online travel agencies IT spending market size is forecast to increase by USD 2.66 billion at a CAGR of 17.19% between 2023 and 2028.

Online travel agencies (OTAs) have witnessed significant IT spending in recent years, driven by various trends and challenges. The adoption of advanced technologies such as artificial intelligence (AI) and machine learning (ML) is on the rise, enabling personalized recommendations and streamlined operations. Furthermore, the increasing popularity of augmented reality (AR) and virtual reality (VR) technologies In the travel industry offers interactive experiences for customers. However, the market is also facing challenges related to data security and privacy concerns, necessitating strong IT infrastructure and compliance with regulations. Blockchain technology is another emerging trend, providing secure and transparent transactions. Smartphones continue to dominate the travel booking landscape, necessitating mobile optimization and responsive design.
Data analytics plays a crucial role in gaining insights into customer behavior and preferences, enabling targeted marketing and improved customer experience. In the future, the travel industry may see the integration of metaverse and virtual travel experiences, offering unique and interactive ways to plan and book trips. Overall, OTAs must invest in IT solutions that cater to these trends and challenges to remain competitive and provide superior customer experiences.

What will be the Size of the Online Travel Agencies IT spending Market During the Forecast Period?

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The market continues to evolve, driven by the need for software development, website optimization, and mobile application optimization to enhance user experience. Cybersecurity measures and data analytics tools are essential investments to safeguard customer information and personalize recommendations. IT services spending also includes hardware investments for data centers and cloud infrastructure. Customer relationship management systems, artificial intelligence, and machine learning enable real-time bookings and personalized travel packages. Digital transformation In the travel industry is accelerating, with the integration of metaverse technologies, real-time data analytics, and advanced AI for transportation and accommodation booking. Social media integration and adventure travel packages are popular trends, while online payments and blockchain technology ensure secure transactions. Overall, the market is growing strongly, with a focus on comprehensive travel management solutions and continuous innovation.

How is this Online Travel Agencies IT spending Industry segmented and which is the largest segment?

The online travel agencies IT spending industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Type

  Software spending
  IT services spending
  Hardware spending


End-user

  Large enterprises
  Small
  medium enterprises (SMEs)


Geography

  North America

    Canada
    US


  Europe

    Germany
    UK


  APAC

    China


  South America



  Middle East and Africa

By Type Insights

The software spending segment is estimated to witness significant growth during the forecast period.

Online travel agencies invest significantly in IT solutions to enhance their offerings, improve customer experience, and drive business growth. Software spending is a crucial component of this IT budget, encompassing advanced booking engines, website optimization, mobile application optimization, cybersecurity measures, data analytics tools, IT services, hardware, customer relationship management, artificial intelligence, machine learning, metaverse, VR experiences, blockchain-based solutions, and more. The implementation of sophisticated booking engines is a major factor fueling this spending trend, as these platforms enable real-time bookings, personalized recommendations, comprehensive travel management, and digital transformation.

Additionally, online travel agencies prioritize data security, real-time data analytics, mobile accessibility, and advanced AI to deliver contactless travel solutions and virtual experiences. The travel technology landscape is continually evolving, with online travel agencies leveraging IT investments to offer travel services such as flights, accommodations, rental cars, and vacation packages, as well as transportation booking, accommodation booking, social media, adventure travel, online payments, social media advertising, and travel experiences.

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The software spen

Over the predicted time period, the digital travel market is expected to advance at a CAGR of 15%. (2022 to 2032). From US$ 400 billion in 2022, experts predict that the digital travel market is expected to expand to US$ 1,618 billion by 2032.

Report Scope

The global customisation and personalisation in travel market size is expected to reach US$ 620.71 Million in 2032. The customisation and personalisation in travel market is growing rapidly.

As per FMI Analysts, the global customisation and personalisation in travel market is estimated to be valued at US$ 126.56 Million in 2022 and is projected to increase at a CAGR of 17.8% in the forecast period from 2022 to 2032.

Report Scope

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...

The market size of the online travel industry worldwide increased sharply in 2023 compared to the previous year. After falling to 226 billion U.S. dollars with the onset of the COVID-19 pandemic, the online travel market's global revenue bounced back in 2022, then grew further in 2023, exceeding 600 billion U.S. dollars. This figure was expected to grow steadily in the following years, reaching an estimated 838 billion U.S. dollars by 2029. What are the leading online travel companies worldwide? When looking at the market capitalization of leading online travel companies worldwide, Booking Holdings reported the highest figure in 2024, ahead of Airbnb and Trip.com Group. The firm, which owns brands like Booking.com, Kayak, and Priceline, also topped the ranking of the leading online travel agencies (OTAs) worldwide based on revenue in 2023. Expedia Group, which operates brands like Expedia, Hotels.com, and Vrbo, reported the second-highest revenue that year. How big is the global travel and tourism market? According to Statista Market Insights, the travel and tourism market’s revenue worldwide – including hotels, package holidays, vacation rentals, camping, and cruises – amounted to almost 880 billion U.S. dollars in 2023. When breaking down global travel and tourism revenue by sales channels, the leading role played by the online market is clear, with online transactions generating over two-thirds of total sales value.

Canada's travel and tourism market report is segmented by type (leisure, education, business, sports, medical tourism, and other types), by application (international, domestic), and by booking (online, offline). The market size and forecasts are provided in terms of value (USD) for all the above segments.

Our travel datasets provide extensive, structured data covering various aspects of the global travel and hospitality industry. These datasets are ideal for businesses, analysts, and developers looking to gain insights into hotel pricing, short-term rentals, restaurant listings, and travel trends. Whether you're optimizing pricing strategies, analyzing market trends, or enhancing travel-related applications, our datasets offer the depth and accuracy you need.

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    to optimize revenue management and competitive analysis.

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Use Cases for Travel Datasets:

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Global Travel and Tourism Spending Market size worth $204.96 Billion in 2023 and projected to $749.74 Billion by 2032, a CAGR of 15.5% By 2024-2032.

The global tourism market size is predicted to expand from USD 11.45 trillion to USD 22.27 trillion, registering a CAGR of over 5.4% throughout the forecast period, from 2025 to 2037. Europe is set to hold the largest industry share by 2037, owing to rising disposable income and growing technological and digital advancements.

According to Cognitive Market Research, the global big data analytics in tourism market size is USD 222154.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 8.20% from 2024 to 2031.

North America held the major market of more than 40% of the global revenue with a market size of USD 88861.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.4% from 2024 to 2031.
Europe accounted for a share of over 30% of the global market size of USD 66646.26 million.
Asia Pacific held the market of around 23% of the global revenue with a market size of USD 51095.47 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.2% from 2024 to 2031.
Latin America's market has more than 5% of the global revenue, with a market size of USD 11107.71 million in 2024, and will grow at a compound annual growth rate (CAGR) of 7.6% 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 4443.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.9% from 2024 to 2031.
The descriptive analytics category held the highest big data analytics in tourism market revenue share in 2024.

Market Dynamics of Big Data Analytics In Tourism Market

Key Drivers for Big Data Analytics In Tourism Market

Increased Tourism Industry Efficiency Will Increase the Demand Globally

Travel agencies and tour operators can comprehend market performance with the use of big data techniques. Understanding the market's supply and demand for services, projecting future supply and demand, comparing competitors, conducting segment analysis, and supply chain optimization are all beneficial. Additionally, it facilitates government agencies' comprehension of the country's tourism flow and helps them plan where to invest in a nation's tourism sector. Hotel chains employ data research to design their marketing strategies and gain a better understanding of customer preferences. Based on historical data or travel trends, the tools assist in generating pertinent packages and offers. The technologies facilitate the analysis of frequent users of the service, which benefits the customer loyalty program as well. Therefore, all of the tourism industry's verticals are more efficient due to big data techniques.

Rising Customer Desire for Personalized Travel Experiences to Propel Market Growth

One of the main factors propelling the expansion of big data analytics in tourism sector is the growing customer desire for personalized travel experiences. Travelers of today look for experiences that are customized to meet their interests, travel preferences, and travel goals rather than merely generic vacation packages. Due to this change in customer behavior, travel agencies have had to make investments in technologies that allow them to gather, process, and use enormous volumes of data in order to provide incredibly customized services and experiences. Additionally, big data analytics is essential in fulfilling this need since it enables businesses to obtain information from a variety of sources, including online. Through the analysis of this heterogeneous data, companies may discern individual inclinations, behavioral patterns, and industry trends, which empowers them to craft personalized travel experiences that appeal to every passenger.

Restraint Factor for the Big Data Analytics In Tourism Market

Need for Protecting the Security and Privacy of Sensitive Traveler Information to Limit the Sales

In the context of big data analytics in the tourism business, protecting the security and privacy of sensitive traveler information is essential. There is a chance that personal information, including financial data and travel preferences, will be revealed due to the volume of data gathered from numerous sources, including reservations for hotels, activities, and travel. Strict criteria for handling personal data are mandated by regulatory organizations, such as the GDPR in Europe or similar regulations abroad, and non-compliance carries heavy fines. Furthermore, using this data has important ethical ramifications. Travelers anticipate that their information will be treated with integrity and responsibility and that its use and protection will be transparent. Moreover, the global aspect of tourism intensifies the intricacy of adhering to privacy and security rules, given that different l...

Global Tourism Source Market size was worth around USD 2,003.68 Billion in 2022 and is predicted to grow to around USD 2,677.77 Billion by 2030 a CAGR of 3.86%.

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Travel Technologies Market Size 2025-2029

The travel technologies market size is forecast to increase by USD 6.29 billion at a CAGR of 9.5% between 2024 and 2029.

The market is experiencing significant growth, driven by the increasing use of smartphones and mobile applications for booking and managing travel arrangements. This trend is particularly prominent in North America, where mobile devices have become an essential tool for travelers. Another key factor fueling market growth is the rise of artificial intelligence (AI) and machine learning (ML) In the travel industry. These technologies enable personalized recommendations and enhance the overall travel experience. However, security and piracy concerns continue to pose challenges for market players. Travelers demand secure platforms for booking and managing their trips, and companies must invest in strong cybersecurity measures to protect sensitive customer data.

What will be the Size of the Travel Technologies Market During the Forecast Period?

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The market encompasses a range of solutions that enhance and streamline various aspects of the travel industry, from tour operators and travel agencies to hotels, flights, tours, transfers, and activities. Online bookings have become the norm, with digital platforms offering inventory control, scheduling, and back-office operations efficiency. Virtual reality and augmented reality technologies provide great experiences, enabling clients to visualize destinations before booking. Emerging technologies such as blockchain, cybersecurity, facial recognition, fingerprint recognition, and document recognition ensure secure and seamless transactions.



IoT devices and digital data enable real-time monitoring and optimization of travel services. Tour companies leverage these technologies to enhance the client experience, increase revenues, and stay competitive In the digital age. Digital payments, including mobile wallets and e-wallets, have become essential for travel businesses to cater to evolving consumer preferences. Overall, travel technology continues to evolve, integrating various innovations to offer more personalized, efficient, and secure travel experiences.

How is this Travel Technologies Industry segmented and which is the largest segment?

The travel technologies industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Application

  Travel industry
  Tourism industry
  Hospitality industry


Product

  Global distribution system
  Airline and hospitality IT solutions


Type

  Leisure
  Business
  Group


Geography

  North America

    Canada
    US


  Europe

    Germany
    UK
    France


  APAC

    China
    India
    Japan


  Middle East and Africa



  South America

    Brazil

By Application Insights

The travel industry segment is estimated to witness significant growth during the forecast period.

The market plays a pivotal role In the global travel industry, introducing innovative solutions to optimize and improve various aspects of travel. Technologies such as voice search, voice control, artificial intelligence, contactless solutions, and virtual reality are transforming the travel experience for both commercial and individual clients. Travel agencies and tour operators benefit from automation in reservation processes, inventory control, back-office operations, and real-time translation services. Online booking platforms, e-commerce platforms, and chatbots streamline the booking experience, offering contactless payments, travel-hailing apps, and review websites.

Furthermore, the integration of IoT devices, document recognition, facial recognition, and fingerprint recognition enhances security and convenience. The travel technology sector continues to evolve, with advancements in augmented reality, artificial intelligence, and blockchain, offering new opportunities for growth In the travel, tourism, and hospitality sectors.

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The travel industry segment was valued at USD 3.97 billion in 2019 and showed a gradual increase during the forecast period.

Regional Analysis

North America is estimated to contribute 36% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The North American market is characterized by advanced infrastructure and innovative solutions. Key players, including Expedia, Booking.Com, and Airbnb, are based in this region and have significantl

The global cultural tourism industry is poised to grow from USD 1.2 trillion in 2025 to USD 2.6 trillion by 2035. With a projected CAGR of 8.1% between 2025 and 2035, the sector benefits from a rising appetite for authentic cultural experiences, historical site explorations, and artistic performances.

Performance Comparison: Music and Performance Tourism vs. Cultural Tourism Industry

As per newly released data by Future Market Insights (FMI), the global tourism industry and big data analytics market is estimated at US$ 225.4 billion in 2023 and is projected to reach US$ 486.6 billion by 2033, at a CAGR of 8% from 2023 to 2033.

2018 to 2022 Global Tourism Industry Big Data Analytics Demand Outlook Compared to 2023 to 2033 Forecast

Regional Analysis

Country-wise Insights

Category-wise Insights

Global Domestic Tourism Market size will exceed a valuation of USD 7,970.78 billion by 2032, to grow at a CAGR of 16.9% during the forecast period.

Leisure Travel Market was valued at USD 4,405.5 Bn in 2021 and is projected to reach USD 6,347.8 Bn by 2027, growing at a CAGR of 5.7% during the forecast period.

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Cultural Tourism Market Size 2025-2029

The cultural tourism market size is forecast to increase by USD 8.41 billion at a CAGR of 18.4% between 2024 and 2029.

Cultural tourism, a significant segment of the travel industry, is witnessing notable growth due to various factors. The increasing instances of stress-related cases are driving travelers to seek unique and authentic cultural experiences. Culinary tourism, a sub-segment of cultural tourism, is gaining popularity as tourists seek to explore new flavors and traditions. Technology is also playing a pivotal role in enhancing cultural tourism experiences. Augmented Reality (AR) and Virtual Reality (VR) technologies are being increasingly adopted to provide enriching experiences, allowing tourists to explore historical sites and cultural landmarks in new ways. Sustainable tourism is another key trend, with travelers expressing a growing concern for the environmental impact of their travels. Social media platforms are also influencing cultural tourism trends, with tourists sharing their experiences and recommendations with a global audience. Music and cultural performances are also adding value to cultural tourism offerings, providing visitors with a more authentic and memorable experience. Despite these growth factors, concerns related to overtourism and its impact on local communities remain a challenge for the cultural tourism industry.

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The market continues to thrive globally, driven by customers seeking unique experiences that go beyond traditional tourist attractions. This trend is reflected in the growing popularity of off-the-beaten-path destinations, experiential travel, and interactions with locals. Sustainable travel practices, including eco-friendly initiatives and eco-tourism, are also gaining traction, as travelers increasingly prioritize responsible tourism. The market scenario is favorable, with a large and growing customer base seeking authentic cultural experiences. Affordability remains a key factor, with a diverse range of offerings catering to various budgets. Employment opportunities in the sector are significant, particularly in regions rich in heritage sites, art galleries, museums, and festivals.
Stress-related cases have further fueled the demand for cultural tourism, with travelers seeking enriching experiences that promote relaxation and personal growth. Smartphones and LED screens are being used to provide travelers with real-time information and interactive experiences. Culinary tourism, including cooking classes and food tours, is another niche segment experiencing strong growth. Overall, the market is expected to continue its upward trajectory, offering rich opportunities for businesses and travelers alike.

How is this Industry segmented and which is the largest segment?

The industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Type

  Domestic cultural tourism
  International cultural tourism


Service

  Cultural eco-tourism
  Indigenous cultural tourism
  Socio-cultural tourism


Application

  Leisure
  Religious pilgrimage
  Education
  Research


Geography

  Europe

    Germany
    UK
    France
    Italy
    Spain


  APAC

    China
    India
    Japan


  North America

    US


  South America

    Brazil


  Middle East and Africa

By Type Insights

The domestic cultural tourism segment is estimated to witness significant growth during the forecast period. The market experiences significant growth due to increasing customer preferences for genuine experiences and interactions with local cultures. Domestic cultural tourism is thriving, fueled by the desire for authenticity and advancements in technology. Mobile applications offer travelers convenient access to comprehensive cultural information and guides, enhancing the planning and navigation process. Virtual Reality (VR) and Augmented Reality (AR) applications provide enriching experiences, enabling users to explore cultural sites virtually and engage in historical reenactments and 3D reconstructions. Sustainable travel practices, such as eco-friendly initiatives and conservation efforts, are gaining popularity, appealing to middle class and budget-conscious travelers. B2C enterprises, including hotels, vacation rentals, cruises, package holidays, camping, business events, conferences, and exhibitions, cater to this market.

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The domestic cultural tourism segment was valued at USD 3.67 billion in 2019 and showed a gradual increase during the forecast period.

Regional Analysis

Europe is estimated to contribute 40%

Explore the detailed segmentation analysis of the Metaverse in Travel and Tourism market. Understand detailed breakdown for each segment and uncover market opportunities.