The global travel and tourism industry is valued at approximately USD 10.0 trillion in 2025, measured as total economic contribution including direct, indirect and induced effects, and is projected to grow at a CAGR of about 5.5% to reach approximately USD 13.8 trillion by 2031 (base year 2025). The 2025 value is the midpoint of three estimates (USD 9.5 trillion, 9.9 trillion and 10.6 trillion).
The industry is segmented by type into Leisure Travel, Business Travel, and Domestic and Other Travel, and by channel into Online Travel Agencies (OTA), Direct Booking (Hotel/Airline/Cruise) and Traditional Travel Agents. Asia Pacific accounts for about 36% of 2025 value, leisure travel for about 60% and business travel for about 21%, and OTAs hold about 28% of channel share, projected to reach about 37% by 2031. Country forecasts cover 17 countries across five regions.
Rising middle-class travel demand, low-cost carrier expansion and AI-driven booking personalization drive growth, while macroeconomic sensitivity, geopolitical risk, overtourism, carbon regulation, aviation capacity limits and labor cost pressure are the main inhibitors. The report profiles 25 companies including Booking Holdings, Marriott International, Carnival Corporation, Expedia Group, Royal Caribbean Group, Airbnb Inc., Hilton Worldwide Holdings, Trip.com Group, and includes Porter's Five Forces, PESTLE and SWOT analyses and a 2031 outlook for corporate strategy, investment, M&A and procurement teams.
The industry is segmented by type into Leisure Travel, Business Travel, and Domestic and Other Travel, and by channel into Online Travel Agencies (OTA), Direct Booking (Hotel/Airline/Cruise) and Traditional Travel Agents. Asia Pacific accounts for about 36% of 2025 value, leisure travel for about 60% and business travel for about 21%, and OTAs hold about 28% of channel share, projected to reach about 37% by 2031. Country forecasts cover 17 countries across five regions.
Rising middle-class travel demand, low-cost carrier expansion and AI-driven booking personalization drive growth, while macroeconomic sensitivity, geopolitical risk, overtourism, carbon regulation, aviation capacity limits and labor cost pressure are the main inhibitors. The report profiles 25 companies including Booking Holdings, Marriott International, Carnival Corporation, Expedia Group, Royal Caribbean Group, Airbnb Inc., Hilton Worldwide Holdings, Trip.com Group, and includes Porter's Five Forces, PESTLE and SWOT analyses and a 2031 outlook for corporate strategy, investment, M&A and procurement teams.
Table of Contents
1. Executive Summary2. Industry Overview & Forecast
3. Market Segmentation by Type
4. Market Segmentation by Application
5. Regional Market Forecast
6. Country-Level Market Forecast
7. Growth Drivers & Inhibitors
8. Key Company Profiles (Booking Holdings, Marriott International, Carnival Corporation, Expedia Group, Royal Caribbean Group, Airbnb Inc., Hilton Worldwide Holdings, Trip.com Group, Delta Air Lines, American Airlines Group)
9. Competitive Landscape
10. Porter's Five Forces Analysis
11. PESTLE Analysis
12. SWOT Analysis
13. Future Trends & Outlook
Companies Mentioned
- Booking Holdings
- Marriott International
- Carnival Corporation
- Expedia Group
- Royal Caribbean Group
- Airbnb Inc.
- Hilton Worldwide Holdings
- Trip.com Group
- Delta Air Lines
- American Airlines Group
- International Airlines Group (IAG)
- Deutsche Lufthansa AG
- TUI Group
- Accor SA
- InterContinental Hotels Group (IHG)
- Southwest Airlines
- Ryanair Holdings
- easyJet plc
- Norwegian Cruise Line Holdings
- Wyndham Hotels & Resorts
- Choice Hotels International
- Tripadvisor Inc.
- MakeMyTrip Limited
- American Express Global Business Travel
- Sabre Corporation
