Turismo
Leisure Travel Market to Garner $1,464.3 Bn, Globally, by 2026 at 5.6% CAGR, Says Allied Market Research
Based on traveler type, the group segment held the largest share in 2018, accounted for nearly three-fourths of the global leisure travel market, as with group traveling enables travelers to take advantage of group rates and discounts offered by motels, resorts, and airline companies. However, the solo segment is projected to register the fastest CAGR of 6.9% during the forecast period, as it lets people be in charge of the whole travel schedule and offers possibility of having new experience and meeting new people. Moreover, it helps travelers to have a self-reflection and get a sense of empowerment, which is expected to increase the growth of the segment.
The online sales channels segment dominated the market in 2018, accounted for more than three-fourths of the global leisure travel market, owing to increase in use of online channels for travel and accommodation and penetration of Internet and smartphones. Moreover, this segment is projected to manifest the fastest CAGR of 6.0% during the study period. The report also offers an extensive analysis of the conventional channels segment.
The global leisure travel market across the Asia-Pacific region held the largest share in 2018, contributing nearly two-fifths of the market and is expected to maintain its dominance throughout the study period. Moreover, the region is anticipated to portray the fastest CAGR of 7.1% through 2026, owing to its diverse culture and attractive destinations that lure travelers from across the globe. Moreover, the growth of market in the region is expected to promote household income in the region, which supplements the market growth. The market across North America is estimated to register a CAGR of 3.4% during the study period.
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