Global leisure travel market to reach $15 trillion by 2040: BCG report

The global leisure travel segment is set to grow to $15 trillion by 2040 from the current $5 trillion, according to a report by the Boston Consulting Group (BCG). The next wave of travellers is increasingly coming from emerging markets like China, India, Saudi Arabia, and Vietnam, outpacing traditional tourism heavyweights like the US, UK, and Germany, stated the report. The report is based on a survey of nearly 5,000 travellers across 11 countries.

 

“India is poised to become one of the most dynamic leisure travel markets globally. There is a clear shift observed in the travel industry led by younger generations—Millennials and Gen Z—who are not only travelling more, but also seeking experiences that blend value, personalisation, and purpose,” said Nitima Malhotra, partner, BCG.