Global Leisure Travel to Triply Boom by 2040, Says BCG

According to a Boston Consulting Group (BCG) study, global leisure travel spending is set to triple, from $5 trillion today to $15 trillion by 2040. Domestic travel is the primary growth engine, expected to account for nearly $12 trillion, while regional travel is projected to triple to over $2 trillion, and international travel will grow to $1.4 trillion. Emerging markets, particularly China, India, Saudi Arabia, and Vietnam, are driving this surge, outpacing traditional markets like the U.S., U.K., and Germany. Younger generations, Millennials and Gen‑Z are shaping new travel trends with solo trips, “bleisure,” wellness, and cultural experiences. Domestic overnight stays are forecasted to rise annually by 2–3%, regional by 3–4%, and international by 4% through 2040.

The rise of AI in travel planning, especially in emerging nations, underscores the need for the industry to adapt. Travelers increasingly expect seamless digital tools alongside personalized, meaningful journeys.

Source: indiatimes.com