The bleisure travel market size was valued at $315.3 billion in 2022 and is estimated to reach $731.4 billion by 2032, registering a CAGR of 8.9% from 2023 to 2032.
The boundaries between work and personal life are blending more as technological advancement is booming. This in turn is influencing how employees across the globe travel, and it's becoming more popular for business travellers to extend their trips so they may experience the local cuisine, culture, and attractions.
Although the term bleisure travel was only established a decade ago, it is not entirely new. Many business travellers have traditionally Included 'play days' and other enjoyable activities in their travels for work, with or without their organizations' knowledge. Moreover,businesses are now Increasingly supporting bleisure travel because they value the benefits of enhanced employee relations along with acknowledgment, official policies and procedures.
Workcations, on the other hand, are typically personal vacations that also involve business. More specifically, flexible work schedules and rules that allow employees to work from home can allow them to take a vacation while still maintaining a full-time (or, in some situations, part-time) work schedule during their stay. On a week-long vacation, a worker might carry their laptop and set aside time to complete business tasks as well as explore the location.
Business personnel often work longer hours to make the anticipated revenues when there is greater competition. Such fierce rivalry also causes employee stress and burnout. It can lead to physical health problems Including chronic pain, heart problems, and hypertension as well as mental health problems like depression, anxiety, and insomnia. Additionally, a number of symptoms, Including irritation, mood changes, fatigue, and decreased productivity, can be brought on by burnout. It could cause staff members to seek medical attention or take sick days, both of which can be expensive for a business. There is an Increasing need for work-life balance in order to maintain mental health among employees globally. Employers may also save money and keep a happier, more productive workforce by establishing a work environment that prioritizes work-life balance. Travelling for business is another new trend that helps people combine their job and wellness. Therefore, it is anticipated that the demand from significant employers worldwide will drive growth in the leisure travel industry.
Digital transformation in the travel industry can be seen in the adoption of digital solutions for routine travel planning tasks like selecting a destination and building an itinerary, booking flights and other modes of transportation, hotels and other accommodations, or creating offers that are as specifically tailored to the needs of customers as possible. Another example is the ability to take virtual tours of potential destinations before making a decision. The travel sector is at the forefront of technological development and is constantly changing as a result of new technology. The travel, tourism, and aviation industry are expected to spend up to $305 billion on digitization processes between 2016 and 2025, according to the World Economic Forum's Digital Transformation Initiative (DTI). Customers and society will gain $700 billion from the digital transformation. It's also projected that this process will shift $100 billion in value away from long-standing companies and towards their new digital rivals. As a result, Incorporating technology into leisure travel often promotes growth.
The bleisure travel market is segmented on the basis of employee, age group, industry and region. By employee, the bleisure travel market is classified into executive, middle management, and entry level employee. Depending on age group, the market is categorized into millennial, generation X and others. By industry, the market is categorized into government and corporate. By region, the market is analyzed in North America, Europe, Asia-Pacific, and LAMEA.
Some of the major players analyzed in this report are Bleisure Travel Company, BCD Group, Booking Holdings, Fareportal, Expedia Group, Airbnb, Flight Centre Travel Group, Wexas Travel, TravelPerk, TravelBank and FCM Travel Solution.
The boundaries between work and personal life are blending more as technological advancement is booming. This in turn is influencing how employees across the globe travel, and it's becoming more popular for business travellers to extend their trips so they may experience the local cuisine, culture, and attractions.
Although the term bleisure travel was only established a decade ago, it is not entirely new. Many business travellers have traditionally Included 'play days' and other enjoyable activities in their travels for work, with or without their organizations' knowledge. Moreover,businesses are now Increasingly supporting bleisure travel because they value the benefits of enhanced employee relations along with acknowledgment, official policies and procedures.
Workcations, on the other hand, are typically personal vacations that also involve business. More specifically, flexible work schedules and rules that allow employees to work from home can allow them to take a vacation while still maintaining a full-time (or, in some situations, part-time) work schedule during their stay. On a week-long vacation, a worker might carry their laptop and set aside time to complete business tasks as well as explore the location.
Business personnel often work longer hours to make the anticipated revenues when there is greater competition. Such fierce rivalry also causes employee stress and burnout. It can lead to physical health problems Including chronic pain, heart problems, and hypertension as well as mental health problems like depression, anxiety, and insomnia. Additionally, a number of symptoms, Including irritation, mood changes, fatigue, and decreased productivity, can be brought on by burnout. It could cause staff members to seek medical attention or take sick days, both of which can be expensive for a business. There is an Increasing need for work-life balance in order to maintain mental health among employees globally. Employers may also save money and keep a happier, more productive workforce by establishing a work environment that prioritizes work-life balance. Travelling for business is another new trend that helps people combine their job and wellness. Therefore, it is anticipated that the demand from significant employers worldwide will drive growth in the leisure travel industry.
Digital transformation in the travel industry can be seen in the adoption of digital solutions for routine travel planning tasks like selecting a destination and building an itinerary, booking flights and other modes of transportation, hotels and other accommodations, or creating offers that are as specifically tailored to the needs of customers as possible. Another example is the ability to take virtual tours of potential destinations before making a decision. The travel sector is at the forefront of technological development and is constantly changing as a result of new technology. The travel, tourism, and aviation industry are expected to spend up to $305 billion on digitization processes between 2016 and 2025, according to the World Economic Forum's Digital Transformation Initiative (DTI). Customers and society will gain $700 billion from the digital transformation. It's also projected that this process will shift $100 billion in value away from long-standing companies and towards their new digital rivals. As a result, Incorporating technology into leisure travel often promotes growth.
The bleisure travel market is segmented on the basis of employee, age group, industry and region. By employee, the bleisure travel market is classified into executive, middle management, and entry level employee. Depending on age group, the market is categorized into millennial, generation X and others. By industry, the market is categorized into government and corporate. By region, the market is analyzed in North America, Europe, Asia-Pacific, and LAMEA.
Some of the major players analyzed in this report are Bleisure Travel Company, BCD Group, Booking Holdings, Fareportal, Expedia Group, Airbnb, Flight Centre Travel Group, Wexas Travel, TravelPerk, TravelBank and FCM Travel Solution.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the bleisure travel market analysis from 2022 to 2032 to identify the prevailing bleisure travel market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the bleisure travel market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report Includes the analysis of the regional as well as global bleisure travel market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Age Group
- Millennial
- Generation X
- Others
By Industries
- Government
- Corporate
- Sub Type
- Technology
- Healthcare
- Public Administration
- Manufacturing
- Others
By Employee
- Executives
- Middle Management
- Entry level Employee
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Switzerland
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- South Africa
- UAE
- Argentina
- Rest of LAMEA
Key Market Players
- Airbnb, Inc.
- BCD Group
- Booking Holdings, Inc.
- Cvent Inc.
- Expedia Group Inc.
- Fareportal
- Flight Centre Travel Group Limited
- Travelator, Inc.
- TravelPerk S.L.U.
- Wexas Travel
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: BLEISURE TRAVEL MARKET, BY EMPLOYEE
CHAPTER 5: BLEISURE TRAVEL MARKET, BY AGE GROUP
CHAPTER 6: BLEISURE TRAVEL MARKET, BY INDUSTRIES
CHAPTER 7: BLEISURE TRAVEL MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to a new report, titled, 'Bleisure Travel Market,' The bleisure travel market was valued at $315.30 billion in 2022, and is estimated to reach $731.4 billion by 2032, growing at a CAGR of 8.9% from 2023 to 2032.Bleisure is the term for travel that blends business and pleasure. Usually, it manifests as business travellers who opt to prolong their vacation to partake in leisure activities. These activities may include touring, relaxing, hiking, visiting theme parks, or attending events.
While integrated travel does blur the distinction between work and recreation, doing so can be beneficial. For instance, make sure the hotel or other rental accommodation's workstation is ideal, including desk size, outlet accessibility, and Wi-Fi speed, and establish clear scheduling expectations. Businesses can play a part in helping employees choose activities to bookend their journey when it comes to playtime. Create itineraries or concept lists for various traveller categories, such as foodies, outdoor enthusiasts, and culture vultures, so that staff members won't have to spend a lot of time looking up chances.
Employees who travel for work may experience physical and mental strain. The concept behind movements like bleisure travel is that happier business travellers are more productive abroad and provide a higher return on investment for the company's corporate travel programme. In the Skift Bleisure Travel Report, 78% of staff travellers claimed that adding leisure days to their itinerary made their work assignments more productive.
When firms experience employee overspending, staff travel can be costly to the bottom line. In reality, a company's travel and expense budget may be up to one-third consumed by employee overspending. CFOs and travel managers should use incentives and rewards programs as a viable method to cut down on employee overspending. Employees who follow company travel regulations may receive financial incentives or additional privileges, such as bleisure travel.
Infrastructure and connectivity have emerged as two of the main issues of the twenty-first century and have come to characterise the modern economy. The requirement for resources to be used to connect communities, economies, and nations reflects this. However, there are still several prerequisites. According to the Asian Development Bank (ADB), the Asia-Pacific region is expected to need to invest $26 trillion by 2030, while the OECD and McKinsey worldwide Institute (MGI) forecast that the yearly worldwide need for infrastructure investment will range from $4.7 trillion to $6.0 trillion. Around 20% of the global GDP is allocated to infrastructure and real estate. Governments desire more investment in power, transport, and other systems that support recovery and growth due to deteriorating infrastructure, growing populations, and demands for economic development. Additionally, it is projected that improving infrastructure will encourage global growth.
Travelling can occasionally be stressful, especially if travelers go places far away or frequently. Allowing your staff to mix official business visits with leisure activities may lessen stress and burnout. Additionally, they will experience gratitude and a desire to put in more effort for the benefit of the company. The kind of reciprocal friendships that most businesses desire can be achieved by lettingthe staff interact with clients in both professional and informal situations. The travellers have plenty of opportunity to explore the locals and learn about their culture, habits, and sensitivities, as well as occasionally interact with locals. The company gains crystal-clear information as a result, and its client relationships deepen.
However, according to the Skift Bleisure Travel Report, only 14% of companies that let staff travelers to use vacation days while on business in 2014 had this need stated in their corporate travel policy. Businesses risk noncompliance and excessive costs if their bleisure travel policies are not documented. Businesses that find it difficult to control staff travel costs on a regular basis may find it challenging to enforce bleisure regulations. For firms to avoid noncompliance, using a corporate travel management software with efficient spending control features is crucial. For instance, the Travelport Locomote platform interfaces with Expensify, a market leader in expense management, to give organisations complete real-time visibility into employee travel costs.
Businesses with limited staff travel funds could find it difficult to include leisure travel policies into their corporate travel plans. For their company to continue to benefit from the favorable return on investment in business travel, Travel Managers will need to implement services that guarantee the continuous affordability of corporate travel.
The bleisure travel market is segmented on the basis of employee, age group, industry and region. By employee, the bleisure travel market is classified into executive, middle management and entry level employee. Depending on age group, the market is categorized into millennial, generation X and others. By industriesindustrytegorized into government and corporate. By region the market is analyzed in North America, Europe, Asia Pacific and LAMEA.
Some of the major players analyzed in this report are Bleisure Travel Company, BCD Group, Booking Holdings, Fareportal, Expedia Group, Airbnb, Flight Centre Travel Group, Wexas Travel, TravelPerk, TravelBank and FCM Travel Solution.
Key findings of the study
- By employee, the middle management segment is estimated to witness significant growth, registering a CAGR of 9.2% during the forecast period.
- By age group, the millennial segment is anticipated to grow at a CAGR of 9.1% during the forecast period.
- By industry, the corporate segment is estimated to witness significant growth, registering a CAGR of 9.0% during the forecast period.
- By region, Europe was the dominant region in 2021, occupying a major share of the market.
Companies Mentioned
- Airbnb, Inc.
- BCD Group
- Booking Holdings, Inc.
- Cvent Inc.
- Expedia Group Inc.
- Fareportal
- Flight Centre Travel Group Limited
- Travelator, Inc.
- TravelPerk S.L.U.
- Wexas Travel
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 410 |
| Published | May 2023 |
| Forecast Period | 2022 - 2032 |
| Estimated Market Value ( USD | $ 315.3 billion |
| Forecasted Market Value ( USD | $ 731.4 billion |
| Compound Annual Growth Rate | 8.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
