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1/22/20251 min read
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Worldwide, the travel & tourism market has continued to grow. Statistica’s 2024 Market Insights Report on Travel & Tourism predicts that revenue will grow 4% annually. This growth is driven by a desire for new experiences, rising disposable income levels, and the ease of travel.
The travel industry is broken down into five sub-markets: Hotels, Cruises, Package Holidays, Vacation Rentals, and Camping. Hotels are the largest group, accounting for 46.8% of total revenue. Global trends include shifting towards a more immersive cultural experience, and a focus on sustainable and eco-friendly travel habits. In the 2024 Economic Impact Trends Report, the United States contributed over $2 trillion dollars to the economy by traveling. This makes the US the most powerful travel market, followed by China and Germany.
