$2.0tr
$XXX.Xbn
12m
859k
$XXX.Xbn
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.
Industry revenue has declined at a CAGR of 1.9 % over the past five years, to reach an estimated $2.0tr in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($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 |
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Global Tourism
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.
No vacancy: Heightened demand for travel benefits accommodation providers
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.
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Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
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.
Learn about an industry's products and services, markets and trends in international trade.
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...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
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 ...
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.
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...
Learn about the performance of the top companies in the industry.
The assortment of services provided by operators in the global tourism industry results in the absence of any one dominant player in the industry.
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Pent-up demand, shifting demographics, technological advancements, and regional tourism initiatives are driving growth. Geopolitical instability, potential economic downturns...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Rising wage costs have eaten into industry profit. Operators have lifted wages in response to labor shortages, limiting profitability.
Including values and annual change:
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The market size of the Global Tourism industry in Global is $2.0tr 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.
The market size of the Global Tourism industry in Global has been declining at a CAGR of 1.9 % between 2019 and 2024.
Over the next five years, the Global Tourism industry in Global is expected to grow.
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
Traveler accommodations and Air transportation are part of the Global Tourism industry.
The company holding the most market share in Global is Delta Air Lines Inc..
The level of competition is high and increasing in the Global Tourism industry in Global.