Global leisure travel is set to triple in value by 2040, growing from $5 trillion today to $15 trillion, according to a new report by Boston Consulting Group.
These are among the findings of BCG’s report, Unpacking the $15 Trillion Opportunity in Leisure Travel, based on a survey of nearly 5,000 travellers across 11 countries, conducted by BCG’s Center for Customer Insight, plus an analysis of travel patterns in 68 markets.
Interestingly, it’s not international jet-setting that’s fuelling the boom. The real engine is closer to home: domestic leisure travel is projected to generate nearly $12 trillion by 2040. Airlines across the globe are no doubt recalibrating their network planning to refocus on the lucrative opportunity in their own backyards.
Regional travel is set to triple to more than $2 trillion. International travel will grow the fastest but still hold the smallest share—reaching $1.4 trillion.
The next big wave of travellers is coming from non-traditional markets like China, India, Saudi Arabia, and Vietnam—outpacing traditional tourism heavyweights such as the US, Europe and Canada.
“With more people taking vacations—and taking them more frequently—we’re seeing a profound shift in who’s traveling, what they expect, and how they plan their journeys,” said Christina Mühlenbein, a BCG managing director and partner, and a coauthor of the report. “New demographics, digital habits, and expectations are rewriting the rules.”
Key findings from the report include:
- Emerging markets such as China, India, Vietnam, and Saudi Arabia are becoming the primary sources of new travelers, overtaking traditional markets like the US and UK.
- Millennials and Gen-Z are now the dominant travel consumers, prioritizing wellness, culture, solo adventures, and personalized experiences.
- “Bleisure” travel—a mix of business and leisure—is booming in emerging regions, especially in Asia and the Middle East.
- AI is reshaping planning, with over half of travelers in markets like China and India using digital tools for trip decisions, though human support is still valued.
Across all markets, relaxing and spending quality time with loved ones remain top reasons to travel, but how people relax is shifting. As much of the trending research Open Jaw has been reporting on, beach getaways, urban adventures, and nature experiences are still popular but the report finds that travellers are increasingly motivated by cultural exploration, health and wellness retreats, and spiritual or religious journeys.
