In 2024, the total number of jobs generated, directly and indirectly, by the travel and tourism sector worldwide reached almost *** million. This figure represented an increase of *** percent in global travel and tourism employment over 2019. As forecast, the total number of travel and tourism jobs worldwide was expected to reach an estimated *** million in 2025.

The Global Tourism industry experienced a tumultuous journey over the five years to 2025. The industry began to slowly recover in 2021 before surging in 2022 and 2023 as pent-up demand for travel drove robust industry performance. The industry has performed well despite recent inflation and economic uncertainty. However, the tariff war between the US and other countries has further increased uncertainty among businesses and leisure travelers, weighing on industry demand. Overall, industry revenue is anticipated to rise at a CAGR of 13.8% to reach $1.5 trillion in 2025, including an expected 1.7% rise in 2025 alone. This substantial growth is the product of a low pandemic year. In the same year, profit is expected to reach 9.7% of revenue. The industry is highly fragmented and comprises large conglomerates and small, local enterprises operating in an increasingly competitive setting. Conglomerates that provide the world market with transport, accommodation, entertainment, and travel arrangement services are at the forefront of the industry. Some of these large operators' annual revenue totals billions of dollars, which supports the industry. Global tourism revenue will increase at a CAGR of 2.0% to $1.6 trillion over the five years to 2030. Rising per capita income growth and consumer sentiment will boost global tourism. The desire for travel will likely remain strong, given the fact that airlines are trimming ancillary services to focus on budget-conscious customers. Travel booking, personalization, and sustainability innovations will likely attract new segments and enhance experiences. However, challenges like economic uncertainty and geopolitical instability may persist. Operators adapting to changing trends and addressing challenges will likely outperform others.

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%.

What kind of support would businesses in the tourism industry in Denmark appreciate in light of the coronavirus? According to a survey from April 16, 2020, 55 percent of businesses would prefer economic support to assure liquidity. Furthermore, 40 percent could use data and forecasts to help planning in the future.

The first case of the coronavirus (COVID-19) in Denmark was confirmed on February 27, 2020. For further information about the coronavirus (COVID-19) pandemic, please visit our dedicated Facts and Figures page.

In 2024, the total number of travel and tourism jobs in the United Kingdom was around *** percent lower than in 2019, the year prior to the onset of the coronavirus (COVID-19) pandemic. Overall, travel and tourism contributed, directly and indirectly, to *** million jobs in the country in 2024.

In 2024, the share of travel and tourism's total contribution to global gross domestic product (GDP) showed a decline of *** percentage points compared to 2019. Overall, the travel and tourism market represented ** percent of the global GDP in 2024. That year, the total contribution of travel and tourism to the global GDP amounted to almost ** trillion U.S. dollars. What is the contribution of travel and tourism to employment? In 2024, the total number of travel and tourism jobs worldwide exceeded pre-pandemic levels, with global travel and tourism employment surpassing *** million. This figure, which refers to jobs generated directly and indirectly by the travel and tourism sector, was forecast to grow further in 2025. How many people travel every year? After sinking in 2020 to the lowest point recorded since 1989, the number of international tourist arrivals worldwide caught up with pre-pandemic levels in 2024, reaching almost *** billion. Both before and after the impact of the COVID-19 pandemic, Europe was the global region with the highest number of international tourist arrivals.

Graph and download economic data for Employment for Administrative and Support and Waste Management and Remediation Services: Travel Agencies (NAICS 56151) in the United States (IPUPN56151W010000000) from 1987 to 2024 about administrative, waste, management, agency, travel, NAICS, IP, services, employment, and USA.

The Latin American travel market, valued at $52.18 billion in 2025, is experiencing robust growth, projected to expand at a Compound Annual Growth Rate (CAGR) of 5.41% from 2025 to 2033. This growth is fueled by several key drivers. The rising middle class across various Latin American nations is a significant factor, with increased disposable income leading to greater spending on leisure and travel. Furthermore, improved infrastructure, including enhanced airport facilities and transportation networks in key tourist destinations like Mexico, Brazil, and Peru, is facilitating easier and more convenient travel. Government initiatives promoting tourism, such as visa relaxations and marketing campaigns highlighting cultural heritage and natural attractions, are also contributing to the market's expansion. Emerging trends include a growing preference for sustainable and eco-friendly tourism, a surge in adventure tourism activities catering to millennial and Gen Z travelers seeking unique experiences, and the increasing popularity of experiential travel focusing on immersive cultural interactions. However, the market faces certain restraints. Political instability in some regions, fluctuating exchange rates impacting travel costs, and concerns about safety and security in certain areas can deter potential tourists. The segment breakdown reveals a dynamic landscape: international tourism contributes significantly, driven by global interest in Latin America's diverse offerings, while domestic tourism is also expanding rapidly, fueled by rising local travel preferences. Purpose-based travel segments are diverse, ranging from the growing appeal of adventure tourism to the sustained demand for business travel and conferences, alongside significant family and friend visits. Key players in this market, including international hotel chains like Marriott and Hilton, alongside regional and specialized agencies such as Tangol SRL and Condor Travel, are actively competing to cater to these diverse segments. The competitive landscape is characterized by a mix of large multinational corporations and smaller, specialized travel agencies focusing on niche markets. International hotel chains leverage their global brand recognition and established infrastructure to dominate the accommodation sector. However, smaller, local agencies often possess a deeper understanding of the local culture and can offer more personalized and authentic experiences, attracting a distinct segment of travelers. The market's regional variations are significant, with Brazil and Mexico consistently ranking as the largest markets, attracting a substantial share of both domestic and international tourists. Other countries like Peru, Argentina, and Colombia are also experiencing considerable growth, benefiting from their unique cultural and natural attractions. Future growth will likely be influenced by factors such as economic conditions in both Latin America and key source markets globally, ongoing infrastructure development, and the effectiveness of government tourism policies in addressing challenges like safety and sustainability. The market's success hinges on effectively managing these challenges while capitalizing on the growing demand for unique and authentic travel experiences. The continued expansion of digital platforms and online booking services will also play a crucial role in shaping the future of this dynamic market. This report provides an in-depth analysis of the Latin America travel market, encompassing market size, segmentation, key trends, leading players, and future growth prospects. The market is valued in the billions, with significant opportunities for growth driven by both international and domestic tourism. Recent developments include: In January 2024, Trip.com Group and LATAM Airlines signed a new NDC agreement. Both companies have reached an agreement to give international travellers a contemporary and effective ticketing experience., In January 2023, UNWTO and the Development Bank of Latin America (CAF) have established a new partnership to encourage and maintain investment in tourism throughout Latin America and the Caribbean regions. As part of the collaboration, investment guides for tourism are being created for five nations, Uruguay, Barbados, Ecuador, El Salvador, and Panama.. Key drivers for this market are: Internet Penetration is Driving the Market. Potential restraints include: Government Regulations are Restraining the Market. Notable trends are: Rising Tourism Industry Investment affecting Latin America Travel and Tourism Industry..

Travel Technology Market Outlook

The global travel technology market size was valued at approximately USD 7.6 billion in 2023 and is projected to reach around USD 17.9 billion by 2032, growing at a compound annual growth rate (CAGR) of 9.8% during the forecast period. The growth of this market is primarily driven by increased digitalization within the travel and tourism sector, enhancing customer experiences and operational efficiencies.

One of the major growth factors contributing to the travel technology market is the increasing penetration of smartphones and internet connectivity. With nearly 4.4 billion internet users globally and a significant proportion using smartphones, the need for mobile-friendly travel solutions has surged. Travel technology, encompassing mobile apps, online booking platforms, and digital payment systems, has revolutionized how consumers plan, book, and experience travel, making it more convenient and personalized. Additionally, advancements in artificial intelligence (AI) and machine learning have enabled travel providers to offer customized recommendations, thus boosting user engagement and satisfaction.

Another substantial growth factor is the rising demand for contactless and seamless travel experiences, especially in the post-pandemic era. The COVID-19 pandemic has accelerated the adoption of digital and contactless technologies in the travel industry. Technologies such as contactless payments, digital check-ins, and biometric verification systems have become more prevalent, addressing health and safety concerns while enhancing the overall travel experience. Moreover, the integration of Internet of Things (IoT) technologies in travel infrastructure has improved operational efficiencies and provided real-time data analytics, further propelling market growth.

Additionally, growing investments in travel technology startups and innovations are significantly driving market growth. Venture capital firms and private investors are increasingly funding travel tech companies to develop innovative solutions that cater to evolving consumer demands. These investments are facilitating the development of new technologies such as blockchain for secure transactions, virtual reality (VR) for immersive travel experiences, and robust data analytics for better decision-making. The influx of capital is fostering a competitive environment, encouraging continuous innovation and enabling companies to scale their operations rapidly.

Online Travel Agencies IT Spending has become a pivotal aspect of the travel technology landscape, as these agencies increasingly rely on advanced IT solutions to enhance their service offerings and streamline operations. With the growing demand for personalized and seamless travel experiences, online travel agencies are investing heavily in IT infrastructure to support sophisticated booking platforms, customer relationship management systems, and data analytics tools. These investments are not only improving operational efficiencies but also enabling agencies to offer tailored travel packages and real-time updates to travelers. As competition intensifies, the ability to leverage cutting-edge technology becomes crucial for online travel agencies to differentiate themselves and capture a larger market share.

From a regional perspective, North America holds a significant share of the travel technology market, attributed to the early adoption of advanced technologies and the presence of established market players. However, the Asia Pacific region is expected to witness the highest growth rate during the forecast period. This growth is driven by increasing disposable incomes, rising middle-class population, and the rapid expansion of the tourism industry in countries like China, India, and Southeast Asian nations. Moreover, government initiatives to promote digitalization and smart tourism are further supporting market growth in this region.

Component Analysis

The travel technology market is segmented into three main components: software, hardware, and services. Each of these components plays a crucial role in the functionality and growth of travel technology solutions, catering to different needs within the industry. The software segment is a major contributor to the market, encompassing various applications and platforms designed to simplify and enhance travel management. These include booking systems, customer relationship management (CRM) software, and travel management systems. The continuous adv

Graph and download economic data for Producer Price Index by Industry: Air Transportation Support Activities (PCU48814881) from Dec 1996 to Jun 2025 about support activities, air travel, travel, transportation, PPI, industry, inflation, price index, indexes, price, and USA.

Group Travel Market Outlook

According to our latest research, the global group travel market size reached USD 168.7 billion in 2024, propelled by increasing demand for shared experiences and cost-effective travel solutions. The market is set to grow at a robust CAGR of 7.2% from 2025 to 2033, with the total market value forecasted to reach USD 314.7 billion by 2033. This notable growth is primarily driven by the rising trend of social travel among millennials, the resurgence of corporate events, and the expansion of educational and religious tourism worldwide, as per our comprehensive 2024 research findings.

The group travel market is experiencing significant momentum due to the growing popularity of shared travel experiences, particularly among younger demographics such as millennials and Generation Z. Social media has played a pivotal role in promoting group adventures, as travelers increasingly seek immersive and collective experiences that foster stronger bonds and lasting memories. Additionally, the post-pandemic era has witnessed a resurgence in family reunions, friends’ getaways, and multi-generational trips, further boosting demand for group travel packages. Travel companies are responding by curating specialized itineraries and offering attractive discounts for group bookings, thereby enhancing value propositions for both leisure and business travelers.

Another critical growth factor is the increasing adoption of digital platforms and online booking channels, which have streamlined the process of organizing group trips. Online travel agencies (OTAs) and dedicated group travel portals have made it easier for organizers to compare options, customize itineraries, and manage bookings efficiently. The integration of advanced technologies, such as AI-driven personalization and real-time coordination tools, has further simplified communication and logistics, making group travel more accessible and appealing. This digital transformation is particularly influential among tech-savvy travelers, who value convenience and transparency when planning collective journeys.

The expansion of corporate group travel, educational excursions, and religious pilgrimages has also contributed to the market’s robust growth. Businesses are increasingly investing in team-building retreats, incentive trips, and conferences to foster collaboration and reward employees. Similarly, educational institutions are organizing study tours and cultural exchange programs to enhance learning experiences. Religious organizations continue to arrange pilgrimages and faith-based journeys, attracting diverse age groups and communities. The global connectivity provided by improved air, rail, and road infrastructure has enabled seamless travel across borders, supporting the growth of group travel across multiple segments.

From a regional perspective, Asia Pacific is emerging as a dominant player in the group travel market, driven by rising disposable incomes, a burgeoning middle class, and government initiatives to promote tourism. North America and Europe continue to hold substantial market shares, supported by established travel networks and a strong culture of group and corporate travel. Meanwhile, Latin America and the Middle East & Africa are witnessing increasing activity, with local tour operators and international brands expanding their offerings to cater to diverse group travel needs. The regional outlook remains optimistic, with tailored experiences and niche segments expected to drive future growth.

Type Analysis

The group travel market is segmented by type into leisure group travel, corporate group travel, educational group travel, religious group travel, and others. Leisure group travel remains the largest segment, accounting for a significant portion of the market in 2024. This dominance is attributed to the growing appetite for shared vacation experiences among families, friends, and affinity groups. Tour operators and travel agencies are increasingly offering package deals that include accommodation, transportation, sightseeing, and group activities, making leisure group travel accessible and cost-effective. T

Graph and download economic data for Employment for Transportation and Warehousing: Support Activities for Air Transportation (NAICS 4881) in the United States (IPUIN4881W201000000) from 1988 to 2024 about support activities, air travel, travel, warehousing, NAICS, transportation, employment, and USA.

The business and conference travel market, while significantly impacted by the pandemic, is experiencing a robust recovery and is projected for substantial growth. The market's size in 2025 is estimated at $500 billion, reflecting a steady rebound from the downturn. A Compound Annual Growth Rate (CAGR) of 8% is anticipated from 2025 to 2033, driven primarily by the resurgence of in-person corporate events, increased business collaborations, and a return to pre-pandemic levels of international travel. Key growth drivers include the increasing adoption of technology for travel management, the expansion of global business activities, and the rising demand for personalized and sustainable travel options. While lingering economic uncertainties pose a potential restraint, the overall market trajectory remains positive, fueled by the inherent need for face-to-face interactions in business negotiations, conferences, and team-building activities. Segmentation reveals that the outbound tourism sector within business travel dominates, showcasing a growing preference for international business trips and conferences. The competitive landscape is marked by established global players like CWT, American Express Global Business Travel (GBT), and BCD Travel, alongside regional and specialized providers. These companies are actively investing in innovative travel solutions, leveraging data analytics to optimize travel itineraries and enhance the overall travel experience. Further market growth is expected through acquisitions, strategic partnerships, and the expansion of service offerings into niche areas such as sustainable business travel and virtual event support. Regional analysis indicates that North America and Europe currently hold the largest market shares, driven by established business hubs and strong economies. However, emerging economies in Asia Pacific and the Middle East & Africa are expected to exhibit significant growth potential in the coming years due to rapid economic development and increased international trade. The forecast period (2025-2033) promises continued expansion, creating numerous opportunities for both established and emerging players in the dynamic business and conference travel sector.

Travel and Tourism Apps Market is estimated to reach USD 3,552.7 Bn By 2034, Riding on a Strong 18.5% CAGR throughout the forecast period.

Online Travel Market Outlook

According to our latest research, the global online travel market size reached USD 540 billion in 2024, with a robust compound annual growth rate (CAGR) of 10.2% from 2025 to 2033. This expansion is primarily driven by the increasing penetration of internet and smartphones, digital transformation in the travel industry, and the growing consumer preference for convenient and personalized travel booking experiences. By leveraging the current CAGR, the market is forecasted to reach USD 1,260 billion by 2033, underscoring the substantial growth potential and rapidly evolving trends in the online travel ecosystem worldwide.

One of the most significant growth factors for the online travel market is the widespread adoption of digital technologies, which has fundamentally transformed the way consumers plan, book, and experience travel. The proliferation of smartphones and the increasing accessibility of high-speed internet have empowered travelers to access real-time information, compare prices, and make bookings on-the-go. Online travel agencies (OTAs) and travel service providers are investing heavily in advanced technologies such as artificial intelligence, machine learning, and big data analytics to enhance user experiences, offer personalized recommendations, and streamline the booking process. This digital shift has not only improved operational efficiencies but also enabled businesses to reach a broader and more diverse customer base across the globe, fueling the ongoing expansion of the online travel market.

Another key driver is the evolving preferences and expectations of modern travelers, particularly among younger demographics who prioritize convenience, flexibility, and customization. The demand for unique and tailor-made travel experiences has led to the emergence of niche travel platforms and specialized service offerings, ranging from adventure travel to eco-tourism and wellness retreats. The integration of user-generated content, reviews, and social media platforms into online travel services has further enhanced consumer confidence and decision-making. Additionally, the growing trend of last-minute bookings and the increasing popularity of vacation packages that bundle transportation, accommodation, and activities are contributing to the market’s growth. These factors collectively underscore the shift towards a more customer-centric and dynamic online travel landscape.

The online travel market is also benefiting from strategic partnerships and collaborations between travel service providers, technology firms, and payment gateways. These alliances are enabling seamless, secure, and integrated booking experiences, while also expanding the range of services available to consumers. The rise of mobile payment solutions and digital wallets has further simplified transactions, making it easier for travelers to book and pay for services regardless of their location. Furthermore, the adoption of cloud-based platforms and APIs has facilitated real-time inventory management and dynamic pricing, allowing travel companies to respond swiftly to changing market conditions and consumer demands. These technological advancements are expected to continue driving growth and innovation in the online travel market over the forecast period.

From a regional perspective, Asia Pacific is emerging as the fastest-growing market for online travel, supported by a rapidly expanding middle class, increasing disposable incomes, and rising internet penetration. North America and Europe, while more mature markets, continue to witness steady growth driven by technological innovation and the presence of established industry players. The Middle East & Africa and Latin America are also showing promising potential, fueled by infrastructural developments and the growing adoption of digital travel platforms. Each region presents unique opportunities and challenges, with local consumer behaviors, regulatory environments, and competitive dynamics shaping the trajectory of the online travel market in these geographies.

This performance indicator measures the estimated number of jobs created and retained, by communities and regions, attributable to EDA investments made to support the travel and tourism sectors.

This performance indicator measures the estimated sum of private investment leveraged, by communities and regions, attributable to the EDA investment made to support the travel and tourism sector.

This dataset provides a comprehensive analysis of the tourism and hospitality industry, covering key metrics such as visitor trends, hotel occupancy rates, average spending per tourist, seasonal demand patterns, and revenue insights. It is useful for travel analysts, hospitality businesses, researchers, and policymakers to understand industry dynamics, predict trends, and optimize business strategies.

Potential Use Cases:

📊 Market Analysis: Identify travel trends and popular destinations.
📈 Revenue Forecasting: Predict hotel occupancy rates and revenue patterns.
🏨 Hospitality Business Insights: Analyze customer preferences and spending habits.
🌍 Tourism Policy Evaluation: Support government tourism strategies.
🧠 Machine Learning Applications: Build predictive models for visitor demand and pricing optimization.

Tourism Real Estate Market Outlook

The global tourism real estate market size was valued at approximately USD 1.2 trillion in 2023 and is projected to reach USD 2.3 trillion by 2032, growing at a CAGR of 7.3% during the forecast period. The growth of this market is driven by increasing disposable incomes, rising international travel, and expanding tourism sectors across the globe.

One of the primary growth factors for the tourism real estate market is the rising disposable incomes globally, which has resulted in more people traveling for leisure and business. As more people travel, the demand for accommodations such as hotels, resorts, and vacation homes increases, thereby fueling investments in tourism-related real estate. Additionally, the growth of the middle class in emerging markets has significantly contributed to the rise in international travel, further supporting market expansion.

Another significant growth factor is the increasing preference for experiential travel. Modern travelers seek unique and authentic experiences, which has led to a surge in the demand for boutique hotels, eco-friendly resorts, and vacation homes in exotic locations. This trend has attracted real estate developers and investors to expand their portfolios to include properties that cater to these preferences. Furthermore, advancements in technology, particularly in the hospitality sector, have enhanced the guest experience, making tourism real estate more attractive to investors.

Government initiatives and policies supporting tourism development also play a crucial role in the growth of the tourism real estate market. Many governments offer incentives such as tax breaks, subsidies, and infrastructure development to attract tourism investment. These initiatives not only boost the construction of new properties but also encourage the renovation and enhancement of existing ones. Additionally, international events, conventions, and exhibitions hosted by various countries stimulate the demand for tourism-related real estate, further driving market growth.

Regionally, the Asia Pacific region is expected to witness the highest growth in the tourism real estate market. Factors such as rapid urbanization, economic growth, and increasing international tourist arrivals contribute to this regional growth. Countries like China, Japan, and Thailand are major contributors due to their well-developed tourism infrastructure and favorable government policies. On the other hand, North America and Europe have established markets with steady growth, driven by mature tourism industries and stable economic conditions. Latin America and the Middle East & Africa are also emerging markets with significant potential due to their rich cultural heritage and natural attractions.

Property Type Analysis

The tourism real estate market is segmented into various property types, including hotels, resorts, vacation homes, timeshares, and others. Hotels represent a significant portion of this market due to their widespread presence and the essential role they play in the hospitality industry. The demand for hotels is consistently high, driven by both business and leisure travelers. The development of branded hotels and the expansion of international hotel chains into new markets further boosts this segment. Moreover, the trend of boutique and lifestyle hotels that offer unique experiences to guests is gaining popularity, contributing to the growth of the hotel segment.

Resorts are another prominent property type within the tourism real estate market. Resorts cater to travelers seeking comprehensive vacation experiences, often in scenic or exotic locations. The demand for resorts is driven by the growing trend of wellness tourism and the increasing popularity of all-inclusive vacation packages. Developers are investing in the construction of luxury resorts that offer a wide range of amenities, such as spas, golf courses, and adventure activities, which attract high-end tourists. Additionally, eco-friendly and sustainable resorts are gaining traction as travelers become more environmentally conscious.

Vacation homes constitute a significant segment of the tourism real estate market, appealing to travelers who prefer the comfort and convenience of home-like accommodations. The rise of platforms like Airbnb has popularized vacation rentals, making them an attractive option for both short-term and long-term stays. This segment is particularly popular among families and groups traveling together. Investors are increasingly interested in vacation homes due to the potential for luc

Industry revenue is anticipated to dip at a compound annual rate of 2% over the five years through 2024-25 to £29.4 billion. The fall is largely due to COVID-19 wreaking travel havoc, the pound weakening against foreign currencies and mounting online competition. More and more bookings are being made online, cutting out high-street agencies and putting pressure on their finances. Rising external competition did lead to the exit of more bricks-and-mortar travel agencies, including the collapse of the industry's second-largest player, Thomas Cook, in September 2019. COVID-19 decimated the industry, with travel bans slashing revenue in 2020-21. The easing of lockdown and travel restrictions in 2021-22 started the industry's recovery, with people keen to get out of the house and holiday again. Revenge travel exploded, boosting revenue by 201.5% to £26.4 billion in 2022-23. Revenue is continuing to bounce back further in 2024-25 by a forecast 2.4%. Despite impressive growth, revenue could be higher – staff shortages on airlines cause mass flight cancellations, which limits travel agencies' offerings, while the cost-of-living crisis has made customers more wary of value for money and boosted package sales. Over the five years through 2029-30, industry revenue is slated to grow at a compound annual rate of 2.1% to reach £32.5 billion. In the short term, bookings for cheaper package holidays will support travel agents. Rising disposable incomes will result in UK tourists taking more expensive holidays. To help propel sales, travel agencies will supplement their services by fully integrating their businesses with online platforms and introducing more niche services, like youth student travel and trips catered to those over 60.