Domestic Tourism Market Growth & Trends
The global domestic tourism market size is expected to reach USD 5,858.27 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 17.0% from 2023 to 2030. The market is anticipated to expand further as disposable income rises, travel preferences among all age groups increase, and new tourist sites and touristic themes emerge. Many nations adopt the worldwide trend of spending more on leisure travel than on business travel, which is aiding the market thrive.
Domestic and international travelers have been drawn to both traditional and new tourism themes, such as nature, heritage and culture, religion, adventure, health and wellness, MICE, and weddings, among others. Future industry development will be fueled by substantial domestic demand and economic growth, price-competitive services, infrastructural development, the introduction of new travel destinations, and specialized tour packages.
The adventure-based tourism segment of the domestic tourism market is dominating, and it is anticipated that it would hold the largest market share during the forecasted period. Adventure tourism initiatives open doors to new commercial possibilities. Numerous businesses focus on assisting new adventure tourism entrepreneurs in marketing their goods. Every new adventure tourism activity brings with it a fresh market potential.
Europe held the largest market share in 2022, owing to the continuous expansion of the residential sector on account of the increasing number of people. Owing to the internet-based economies, trends toward globalization in culture and communication, and the growing accessibility of travel for ever-larger segments of the population. Additionally, Europe has emerged as the greatest “source region” for tourists that travel abroad.
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Domestic Tourism Market Segmentation
Grand View Research has segmented the global domestic tourism market on the basis of tour type, tourism type, mode of booking, and region:
Domestic Tourism Tour Type Outlook (Revenue, USD Billion, 2017 – 2030)
- Weekend getaways
- Others (business, organized tours)
Domestic Tourism Type Outlook (Revenue, USD Billion, 2017 – 2030)
- Local travel
- Interstate travel
Domestic Tourism Mode of Booking Channel Outlook (Revenue, USD Billion, 2017 – 2030)
List of Key Players of Domestic Tourism Market
- Abercrombie & Kent USA LLC
- Expedia Group
- Cox and Kings Ltd.
- Kensington Tours
- Micato Safari
- Scott Dunn Ltd.
- Tauck, Inc.
- Thomas Cook India Ltd.
- La Vacanza Travel
- Butterfield & Robinson
Grand View Research is an India & U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. Grand View Research database is used by the world's renowned academic institutions and Fortune 500 companies to understand the global and regional business environment. Our database features thousands of statistics and in-depth analysis on 46 industries in 25 major countries worldwide.
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