Global tourism market forecast – 2023

Published on : Monday, January 23, 2017

Hands touching a globeFor the last few years, tourism industry has witnessed a huge growth. Technological advancement and modern transport network, tourism industry has gone through tremendous growth and success. Many countries are all geared up in taking a step forward to expand their wildlife, art, entertainment and transport network to attract international tourists worldwide.

 
In 2014, global travel and tourism industry was valued USD 7,581 billion with a prediction to grow 3.8 percent in the next year. A year-on-year growth rate of the global tourism industry is expected to reach 11,382 billion by 2025.

 
Revenue from visitor exports was accounted as USD 1,384 billion in 2014 which is expected to raise 2,141 billion by 2025.

 
In terms of types, international and local and domestic tourism are main segments of global tourism industry. In terms of purpose, adventure tourism, medical tourism, business tourism and religious tourism are the main segments of global tourism industry.

 

Geographically, it can be divided into North America, Latin America, Western and Eastern Europe, Asia-Pacific, Middle East and North Africa (MENA) and rest of world. Global tourism industry believes that its main drivers are increasing per capita income in majority of the countries worldwide.

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