The global tourism source market was valued at $599.4 billion in 2022, and is projected to reach $1.1 trillion by 2032, growing at a CAGR of 6.6% from 2023 to 2032.The many origins or locales from which visitors travel to a specific location are referred to as the tourism sources market. Tourists from other countries and those traveling domestically (inside their own country) might be categorized under this category. The tourism sources market is a crucial factor for tourism organizations, enterprises, and destinations Ince it enables them to comprehend the traits, tastes, and behaviors of various tourists’ kinds and to adjust their marketing and promotional efforts accordingly.
The spread of Western culture, values, and lifestyles to other parts of the world is referred to as 'Westernization.' An Increase in foreign influences occurs when a nation westernizes, making it more receptive to outside influences and potentially attracting more tourists. As a result, the source market's tourism sector may grow more quickly.
Furthermore, Increased interest in foreign cultures and ways of life is one way that Westernization might accelerate the expansion of the source tourist business. People may become more interested in other cultures and more eager to travel to other nations to experience them as they are exposed to western ideas and practices. A rise in outbound travel from the source market may result from this.
By fostering a more favorable business climate for tourism, westernization also accelerates the expansion of the source tourism sector. Countries may attract more foreign investors and visitors when they adopt Western business standards and practices. The country's inbound tourism will rise as a result, which will enhance the overall expansion of the source market's tourist sector.
By source, most international tourists came from Europe and more recently from Asia, driven by China, which now accounts for a fifth of international tourism spending and tourist arrivals. By destination, Europe remained the most visited region, with Asia catching up as the fastest-growing destination for international tourism, followed by a significant share of regional travel within the Western Hemisphere. About three out of four international trips were taken within the same geographical region, with about half of travel undertaken for leisure, followed by visits with friends and relatives, and business travel.
For group travelers, customized experiences are expanding the source tourism business in several ways. Customized tours appeal to group travelers' dis Inct interests and preferences by offering personalized travel experiences, enabling them to create their own schedules, activities, and lodgings. As a result, the trip becomes immersive and fulfilling while still meeting the needs of the group.
Tailored experiences are also expanding the source tourism industry for group travelers by luring new visitor demographics that are looking for specialized and uncommon travel experiences. Customized excursions, for instance, may focus on a particular interest, like wine tasting, cultural history, or adventure sports. Customized tours can target traveler groups and set themselves apart by providing these exclusive experiences.
The market for source tourism among group travelers is growing in a number of ways owing to the integration of technology. Technology is Increasing group travel accessibility and convenience by offering travelers a smooth and effective booking experience, which in turn is Increasing demand for group travel.
The expansion of the source tourist market is significantly influenced by international travel. Traveling opens people's eyes to different cultures, languages, and habits, which might pique their curiosity about other people's cultures and boost their propensity to travel abroad again in the future. The tourism source market is growing as a result of this exposure. A country's internal tourism may also Increase as a result of foreign visitors finding new and attractive locations there, giving residents more Incentive to travel outside.
Additionally, international travel can promote the sharing of information and ideas between nations, which may lead to the creation of fresh travel-related goods and services in the market of origin. These cutting-edge goods and services can draw more visitors and support the expansion of the tourism sector. Additionally, as a nation receives more foreign visitors, it may draw more foreign investment, which may be used to build new tourist facilities like hotels, airports, and attractions, ultimately improving the nation's appeal to both domestic and foreign visitors.
Inadequate support infrastructure at ecotourism destinations like inadequate air, rail, or road connectivity to various ecotourism destinations in developing and underdeveloped countries are major challenges to the proliferation of ecotourism. Furthermore, low availability of accommodation along with limited availability of quality and hygienic restaurants, food outlets, and hotels at destinations hampers the growth of ecotourism tourist arrivals particularly in developing regions. In addition, the monopoly of few tourist guides along with insufficient availability of certified and trained tourist guides aggravate the risk of exploitation of tourists.
The tourism source market is segmented into booking channels, tourist types, and regions. By booking channel, the market is classified into websites, mobile applications, travel agencies, and others. Depending on tourist type, the market is categorized into solo, group, and others. Region wise, the market is divided across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, Spain, Russia, Sweden, Netherlands, Denmark, Poland, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, Thailand, Malaysia, Singapore, Indonesia, New Zealand, and Rest of Asia-Pacific), and LAMEA (Brazil, Argentina, South Africa, Saudi Arabia, Egypt, UAE, and Rest of LAMEA).
The spread of Western culture, values, and lifestyles to other parts of the world is referred to as 'Westernization.' An Increase in foreign influences occurs when a nation westernizes, making it more receptive to outside influences and potentially attracting more tourists. As a result, the source market's tourism sector may grow more quickly.
Furthermore, Increased interest in foreign cultures and ways of life is one way that Westernization might accelerate the expansion of the source tourist business. People may become more interested in other cultures and more eager to travel to other nations to experience them as they are exposed to western ideas and practices. A rise in outbound travel from the source market may result from this.
By fostering a more favorable business climate for tourism, westernization also accelerates the expansion of the source tourism sector. Countries may attract more foreign investors and visitors when they adopt Western business standards and practices. The country's inbound tourism will rise as a result, which will enhance the overall expansion of the source market's tourist sector.
By source, most international tourists came from Europe and more recently from Asia, driven by China, which now accounts for a fifth of international tourism spending and tourist arrivals. By destination, Europe remained the most visited region, with Asia catching up as the fastest-growing destination for international tourism, followed by a significant share of regional travel within the Western Hemisphere. About three out of four international trips were taken within the same geographical region, with about half of travel undertaken for leisure, followed by visits with friends and relatives, and business travel.
For group travelers, customized experiences are expanding the source tourism business in several ways. Customized tours appeal to group travelers' dis Inct interests and preferences by offering personalized travel experiences, enabling them to create their own schedules, activities, and lodgings. As a result, the trip becomes immersive and fulfilling while still meeting the needs of the group.
Tailored experiences are also expanding the source tourism industry for group travelers by luring new visitor demographics that are looking for specialized and uncommon travel experiences. Customized excursions, for instance, may focus on a particular interest, like wine tasting, cultural history, or adventure sports. Customized tours can target traveler groups and set themselves apart by providing these exclusive experiences.
The market for source tourism among group travelers is growing in a number of ways owing to the integration of technology. Technology is Increasing group travel accessibility and convenience by offering travelers a smooth and effective booking experience, which in turn is Increasing demand for group travel.
The expansion of the source tourist market is significantly influenced by international travel. Traveling opens people's eyes to different cultures, languages, and habits, which might pique their curiosity about other people's cultures and boost their propensity to travel abroad again in the future. The tourism source market is growing as a result of this exposure. A country's internal tourism may also Increase as a result of foreign visitors finding new and attractive locations there, giving residents more Incentive to travel outside.
Additionally, international travel can promote the sharing of information and ideas between nations, which may lead to the creation of fresh travel-related goods and services in the market of origin. These cutting-edge goods and services can draw more visitors and support the expansion of the tourism sector. Additionally, as a nation receives more foreign visitors, it may draw more foreign investment, which may be used to build new tourist facilities like hotels, airports, and attractions, ultimately improving the nation's appeal to both domestic and foreign visitors.
Inadequate support infrastructure at ecotourism destinations like inadequate air, rail, or road connectivity to various ecotourism destinations in developing and underdeveloped countries are major challenges to the proliferation of ecotourism. Furthermore, low availability of accommodation along with limited availability of quality and hygienic restaurants, food outlets, and hotels at destinations hampers the growth of ecotourism tourist arrivals particularly in developing regions. In addition, the monopoly of few tourist guides along with insufficient availability of certified and trained tourist guides aggravate the risk of exploitation of tourists.
The tourism source market is segmented into booking channels, tourist types, and regions. By booking channel, the market is classified into websites, mobile applications, travel agencies, and others. Depending on tourist type, the market is categorized into solo, group, and others. Region wise, the market is divided across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, Spain, Russia, Sweden, Netherlands, Denmark, Poland, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, Thailand, Malaysia, Singapore, Indonesia, New Zealand, and Rest of Asia-Pacific), and LAMEA (Brazil, Argentina, South Africa, Saudi Arabia, Egypt, UAE, and Rest of LAMEA).
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the tourism source market analysis from 2022 to 2032 to identify the prevailing tourism source 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 tourism source 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 tourism source market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Tourist Type
- Solo
- Group
- Others
By Booking Channel
- Websites
- Mobile Applications
- Travel Agencies
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Russia
- Sweden
- Netherlands
- Denmark
- Poland
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Thailand
- Malaysia
- Singapore
- Indonesia
- New Zealand
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Argentina
- South Africa
- Saudi Arabia
- Egypt
- UAE
- Rest of LAMEA
Key Market Players
- Airbnb, Inc.
- Booking Holdings, Inc.
- Delta Air Lines, Inc.
- Expedia, Inc.
- Iberia Express, S.A.
- Italia Trasporto Aereo S.p.A.
- Ryanair Group
- TripAdvisor LLC
- TUI Group
- Vueling Airlines SA
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: TOURISM SOURCE MARKET, BY BOOKING CHANNEL
CHAPTER 5: TOURISM SOURCE MARKET, BY TOURIST TYPE
CHAPTER 6: TOURISM SOURCE MARKET, BY REGION
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to a new report, titled, 'Tourism Source Market,' The tourism source market was valued at $599.40 billion in 2022, and is estimated to reach $1113.1 billion by 2032, growing at a CAGR of 6.6% from 2023 to 2032.The term 'source tourism market' refers to the nations or regions where travelers arrive or depart for other locations. To comprehend how tourism moves between various source markets and destinations, it serves as the tourist industry's origin market.
The number of arrivals and overnight stays by source market, the most popular travel destinations among various source markets, and the top tourist destinations visited by visitors from each source market are all included in source tourism market data. This information aids in the tourism industry's trend analysis, marketing strategy planning, and decision-making.
The tourism industry has benefited greatly from technological development, which has changed how people travel, plan their journeys, and interact with locations. The use of technology and digital media in the tourism industry has had a number of beneficial effects.
Travelers now have quicker access to information about locations, lodging options, attractions, and activities thanks to technology. Tourists can receive information from a variety of online sources, including user-generated material, virtual reality (VR), augmented reality (AR), and immersive mixed reality media, thanks to the rise of interactive digital platforms and solutions. The availability of information aids travelers in making wiser judgments and efficiently planning their travels.
Travelers may now effortlessly browse, compare prices, and book flights, lodging, and other travel-related services thanks to digital platforms and online travel companies. Travelers may now more easily manage their reservations, check the status of their flights, retrieve their boarding tickets, and even utilize digital hotel keys thanks to the availability of smartphone apps. These improvements in booking and travel administration make traveling easier and more productive.
The source tourism market's expansion is significantly hampered by economic factors. The impact of economic issues on the tourist industry is highlighted by a number of important results and research, both globally and within particular regions.
First and foremost, the COVID-19 pandemic has had a significant negative impact on the travel and tourism industry, resulting in decreased demand, travel restrictions, and lockdowns. These actions have reduced visitor numbers and spending, which has hampered the source tourism industry's overall market expansion. People's willingness and ability to travel have been impacted by the pandemic's economic effects, including as job losses and income reductions, which has further slowed the market's expansion.
Additionally, macroeconomic variables like wages and national income have a big impact on tourism entrepreneurship and business growth within the industry. In developing nations like Kazakhstan, salary increases in the tourism industry initially draws business owners, but in the long run, higher wages might increase the cost of doing business. This dynamic may impede the market's growth by impeding the establishment and expansion of tourism enterprises.
Additionally, consumer purchasing and travel budgets may be affected negatively by economic downturns and financial instability. Individuals and households typically prioritize necessary expenses over discretionary spendings, such as travel and tourism, during times of economic instability. This change in consumer behavior may lead to a decline in the demand for travel-related services and goods, which would have a negative effect on the market's expansion.
Additionally, the tourism sector's reliance on outside variables like exchange rates and world economic situations may limit market expansion. Exchange rate fluctuations may make certain destinations more or less affordable for visitors from other countries. Economic crises or downturns in important tourism source economies can reduce outbound travel, lowering the number of travelers visiting source destinations and limiting market expansion.
The dependence of the tourism sector on outside variables like exchange rates and world economic conditions might also limit market expansion. Changes in currency rates can have an impact on travel affordability by increasing or decreasing the cost of locations for visitors from other countries. Economic crises or recessions in significant source markets for tourism can result in a fall in outbound travel, lowering the number of travellers visiting source destinations and limiting industry expansion.
The tourism source market is segmented into booking channels, tourist types, and regions. By booking channel, the market is classified into websites, mobile applications, travel agencies, and others. The market is categorized into solo, group, and others depending on tourist type. Region wise, the market is divided across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, Spain, Russia, Sweden, Netherlands, Denmark, Poland, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, Thailand, Malaysia, Singapore, Indonesia, New Zealand, and Rest of Asia-Pacific), and LAMEA (Brazil, Argentina, South Africa, Saudi Arabia, Egypt, UAE, and Rest of LAMEA).
Key Finding
- Based on booking channels, the mobile application segment dominated the global market in the year 2022 and is likely to remain dominant during the forecast period.
- Region wise, Europe dominated the global market in the year 2022 and is likely to remain dominant during the forecast period.
Companies Mentioned
- Airbnb, Inc.
- Booking Holdings, Inc.
- Delta Air Lines, Inc.
- Expedia, Inc.
- Iberia Express, S.A.
- Italia Trasporto Aereo S.p.A.
- Ryanair Group
- TripAdvisor LLC
- TUI Group
- Vueling Airlines SA
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 | 250 |
| Published | May 2023 |
| Forecast Period | 2022 - 2032 |
| Estimated Market Value ( USD | $ 599.4 billion |
| Forecasted Market Value ( USD | $ 1100 billion |
| Compound Annual Growth Rate | 6.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
