Travel and Tourism Market to Reach US$ 16.20 Bn by 2031

Transparency Market Research Inc. – A granular travel and tourism market research underscores the finding that undivided focus on always offering unique travel experiences to customers is one of the major winning imperatives for leaders and pioneers. The growing trend of eco-friendly and sustainable tours is likely to augment the travel and tourism market size. The travel and tourism market is forecast to expand at a CAGR of 15.5% from 2022 to 2031.

Travel industry statistics 2022 has found that the revenue streams are being fueled by growing popularity of ecological tours. Furthermore, the trend of special interest tourism will add momentum to travel and tourism industry growth. The size of travel industry is growing, riding on the back of rising disposable incomes, urge among millennials for experiential tours, and propensity of customer to explore cultures in different geographies.

Strides being made in eco-tourism is expanding the avenues in the travel and tourism market. A number of customers are inclined toward undertaking tours for promoting health and wellness. Rise in number of business trips among corporates over the past few years has contributed substantial revenue to the travel and tourism market.

Source : Breakingtravelnews