Global Tourism - Market Research Report (2014-2029)
New York, United States
Last Updated: May 2024
X9001-GLRevenue
$2.0tr
Past 5-Year Growth
Profit
$XXX.Xbn
Employees
12m
Businesses
859k
Wages
$XXX.Xbn
Global Tourism industry analysis
The Global Tourism industry experienced a tumultuous journey over the five years to 2024, marked by the unprecedented shock of COVID-19. 2019 served as a banner year as the industry thrived on robust economic growth, rising disposable incomes, and increasing travel accessibility. In 2020, the outbreak of COVID-19 and subsequent travel restrictions, border closures, and public health concerns brought the industry to its knees, with revenue falling 63.1%. 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 challenges, including inflation and economic uncertainty. Overall, industry revenue is anticipated to decline at a CAGR of 1.6% to reach $2.0 trillion in 2024, including an expected 11.6% rise in 2024 alone. The shock of COVID-19 and the plunge in revenue have dragged down the overall industry performance over the past five years.
Trends and Insights
- Pent-up demand for travel has buoyed the global tourism industry. Surging domestic leisure travel activity has eased the burden of reduced business travel activity.
- Bleisure trips combining business and leisure will become more popular, blurring the lines between travel segments. Business travel will pick up in 2024 as companies increasingly request workers return to the office.
- Regional variations exist, with Asia Pacific leading the growth, followed by the Middle East, Africa, and Latin America. Europe and North America will likely experience more moderate growth, with domestic travel playing a key role.
- The internet has lowered barriers to entry for potential operators. It has raised the power of buyers to research alternatives, raising the level of competition in the industry.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has declined at a CAGR of 1.9 % over the past five years, to reach an estimated $2.0tr in 2024.
Trends and Insights
International arrivals come close to pre-pandemic peaks
- After years of pandemic restrictions, people are eager to travel again, leading to a surge in demand for leisure travel. According to the latest data from the World Tourism Organization (UNWTO), an estimated 975.0 million tourists travelled internationally between January and September 2023, an increase of 38.0% on the same nine months of 2022.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Leisure travel will continue to dominate the industry
- The industry is expected to return to growth, exceeding pre-pandemic levels, driven by pent-up demand and economic recovery. An aging population with more disposable income and leisure time is a major driver of leisure travel. This demographic segment is increasingly interested in experiences, cultural immersion, and active travel, all of which fall under the leisure category.
Biggest companies in the Global Tourism
| Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
Delta Air Lines Inc. | 59.4 | N/A | N/A | |
Carlson Wagonlit Travel Inc. | 32.0 | N/A | N/A | |
The Walt Disney Company | 32.0 | N/A | N/A |
To view the market share and analysis for all 5 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Traveler accommodations, Air transportation and Travel arrangements and reservations. Traveler accommodations is the largest segment of the Global Tourism.
Trends and Insights
No vacancy: Heightened demand for travel benefits accommodation providers
- Accommodations can be segmented in several ways, including by star rating or by accommodation style, like hotels, resorts, serviced apartments, guesthouses, and bed and breakfasts.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Global Sports Betting & Lotteries
- Global Residential Building Construction
Complementors
- Global Hotels & Resorts
- Global Airlines
- Global Airport Operation
- Global Marine & Container Terminal Operation
International industries
- Hotels & Motels in Canada
- Tourism in Australia
- Tourism in New Zealand
- Tour Operators in the UK
- Tourism in Germany
Table of Contents
About this industry
Industry definition
Tourism is defined as international visitors traveling across national borders primarily for business, convention or conference travel, government business, as well as the more familiar tourism for leisure, vacation or to visit friends and relatives. Major industries that benefit from tourism expenditure include domestic and international air transportation, accommodation services, food services, drinking places, automotive rental and travel agencies.
What's included in this industry?
Traveler accommodationsAir transportationTravel arrangements and reservationsFood and beverage establishmentsOther transport, including car rentalGasolineRecreation and entertainmentOther retail activitiesCompanies
Delta Air Lines Inc.Carlson Wagonlit Travel Inc.The Walt Disney CompanyPurchase this report to view all 5 major companies in this industry.
Related Terms
INTERNATIONAL TRAVEL MODEINTERNATIONAL TRAVELREVPARADRPerformance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Pent-up demand for travel has buoyed the global tourism industry. Surging domestic leisure travel activity has eased the burden of reduced business travel activity.
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Bleisure trips combining business and leisure will become more popular, blurring the lines between travel segments. Business travel will pick up in 2024 as companies increasi...
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2024
- Product innovation level
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Regional variations exist, with Asia Pacific leading the growth, followed by the Middle East, Africa, and Latin America. Europe and North America will likely experience more ...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each region
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each region in 2024
- Number and share of revenue each region accounts for in 2024
- Number and share of wages each region accounts for in 2024
- Number and share of employees in each region in 2024
Detailed analysis
- Business Locations Charts
- Share of global output by region in 2024
- Share of population compared to output in each region in 2024
- Data tables
- Share of global output by region in 2024
- Detailed analysis
- Geographic spread of the industry across Global, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
The internet has lowered barriers to entry for potential operators. It has raised the power of buyers to research alternatives, raising the level of competition in the indust...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
The assortment of services provided by operators in the global tourism industry results in the absence of any one dominant player in the industry.
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of Delta Air Lines Inc.'s performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Carlson Wagonlit Travel Inc.'s performance by revenue, market share and profit margin from 2018 through 2024
- Overview of The Walt Disney Company's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of revenue, market share and profit margin trend for 2 additional companies
Detailed analysis
- Description and key data for Delta Air Lines Inc., and factors influencing its performance in the industry
- Description and key data for Carlson Wagonlit Travel Inc., and factors influencing its performance in the industry
- Description and key data for The Walt Disney Company, and factors influencing its performance in the industry
- Description, key data and performance trends for 2 additional companies
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Pent-up demand, shifting demographics, technological advancements, and regional tourism initiatives are driving growth. Geopolitical instability, potential economic downturns...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Rising wage costs have eaten into industry profit. Operators have lifted wages in response to labor shortages, limiting profitability.
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources globally include:
- United Nations Comtrade
- Organization for Economic Cooperation & Development
- World Bank
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Global Tourism industry in Global in 2024?
The market size of the Global Tourism industry in Global is $2.0tr in 2024.
How many businesses are there in the Global Tourism industry in 2024?
There are 859k businesses in the Global Tourism industry in Global, which has grown at a CAGR of 1.4 % between 2019 and 2024.
Has the Global Tourism industry in Global grown or declined over the past 5 years?
The market size of the Global Tourism industry in Global has been declining at a CAGR of 1.9 % between 2019 and 2024.
What is the forecast growth of the Global Tourism industry in Global over the next 5 years?
Over the next five years, the Global Tourism industry in Global is expected to grow.
What are the biggest companies in the Global Tourism market in Global?
The biggest companies operating in the Global Tourism market in Global are Delta Air Lines Inc., Carlson Wagonlit Travel Inc. and The Walt Disney Company
What does the Global Tourism in Global include?
Traveler accommodations and Air transportation are part of the Global Tourism industry.
Which companies have the highest market share in the Global Tourism in Global?
The company holding the most market share in Global is Delta Air Lines Inc..
How competitive is the Global Tourism industry in Global?
The level of competition is high and increasing in the Global Tourism industry in Global.
