PUBLISHER: The Business Research Company | PRODUCT CODE: 1619551
PUBLISHER: The Business Research Company | PRODUCT CODE: 1619551
Domestic tourism refers to travel within one's own country for leisure, business, or other purposes. Unlike international tourism, which involves traveling across national borders, domestic tourism focuses on exploring different regions or destinations within the same country. It plays a crucial role in promoting regional development and fostering national pride.
The main types of domestic tourism include adventure, spiritual or cultural, sports, weekend getaways, and others. Adventure tourism emphasizes excitement and physical activities like hiking, climbing, and extreme sports, appealing to those seeking thrills and exploration. It encompasses both local and interstate travel and can be booked through online or offline methods. Adventure tourism caters to a diverse audience, including young adults, adults, seniors, families, and groups, and can span short-term, mid-term, or long-term trips.
The domestic tourism market research report is one of a series of new reports from The Business Research Company that provides domestic tourism market statistics, including domestic tourism industry global market size, regional shares, competitors with a domestic tourism market share, detailed domestic tourism market segments, market trends and opportunities, and any further data you may need to thrive in the domestic tourism industry. This domestic tourism market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The domestic tourism market size has grown rapidly in recent years. It will grow from $1,540.12 billion in 2023 to $1,783.9 billion in 2024 at a compound annual growth rate (CAGR) of 15.8%. The growth during the historic period can be attributed to economic expansion, rising disposable income, an increase in the middle-class population, advancements in travel infrastructure, and improved transportation networks.
The domestic tourism market size is expected to see rapid growth in the next few years. It will grow to $3,224.7 billion in 2028 at a compound annual growth rate (CAGR) of 16%. The growth during the forecast period can be attributed to a growing interest in experiential travel, advancements in digital booking technologies, an increased focus on sustainable tourism, the expansion of local travel options, and the rise of remote work, which enhances travel flexibility. Major trends for this period include a rise in staycations and local getaways, the popularity of eco-friendly tourism, the use of mobile and AI technology for travel planning, the expansion of customized travel packages, and the emergence of virtual reality in destination experiences.
The growing appeal of countryside and nature tourism is anticipated to drive the expansion of the domestic tourism market in the future. This type of tourism focuses on visiting rural and natural areas to enjoy their tranquility, scenic beauty, and outdoor activities. The rising interest in countryside and nature tourism is fueled by a desire to escape urban environments, seek peace, and reconnect with nature. By attracting visitors to rural areas, this form of tourism not only enriches the domestic tourism landscape but also distributes economic benefits more widely and alleviates congestion in urban tourist destinations. For example, a report by the United Nations World Tourism Organization in May 2023 revealed that international tourist arrivals reached 80% of pre-pandemic levels in the first quarter of 2023, with approximately 235 million travelers-more than double the number from the same period in 2022. The sector showed notable resilience, with revised figures for 2022 indicating that over 960 million international tourists traveled abroad, representing 66% of pre-pandemic levels. This demonstrates the industry's ability to recover and regain its momentum. Consequently, the increasing popularity of countryside and nature tourism is contributing to the growth of the domestic tourism market.
Companies in the domestic tourism sector are increasingly embracing technological advancements and innovations, such as AI trip planners, to enhance customer experiences and simplify travel planning. AI trip planners are digital tools that utilize artificial intelligence to analyze user preferences and travel data to create personalized and efficient travel itineraries. For instance, in June 2023, Booking.com, a Netherlands-based online travel agency, introduced its AI Trip Planner feature. This new addition to its app uses AI and OpenAI's ChatGPT API to offer a conversational and customized travel planning experience. Users can receive personalized travel recommendations, explore destinations, and book accommodations through an interactive chat interface.
In January 2024, Travel + Leisure Co., a US-based company specializing in vacation ownership and travel experiences, acquired Accor Vacation Club for $48 million. This acquisition expands Travel + Leisure Co.'s portfolio and strengthens its position in the vacation ownership market. By leveraging its extensive network and industry expertise, Travel + Leisure Co. supports Accor Vacation Club's growth and integration into a broader vacation ownership framework. This strategic move allows Travel + Leisure Co. to offer a more diverse range of vacation experiences and enhance its competitive edge in the market. Accor Vacation Club is an Australia-based company specializing in domestic tourism.
Major companies operating in the domestic tourism market are Marriott International Inc., Four Seasons Hotels Limited, Loews Hotels Holding Corporation, Relais & Chateaux International, Holiday Hospitality Franchising LLC, Hilton Worldwide Holdings Inc., Hyatt Hotels Corporation, Radisson Hospitality Inc., Accor S.A., InterContinental Hotels Group PLC, Sofitel Hotels & Resorts, Best Western International Inc., Motel 6 Operating L.P., Shangri-La International Hotel Management Ltd., Omni Hotels Management Corporation, Red Roof Inns Inc., Choice Hotels International Inc., Wyndham Hotels & Resorts Inc., Extended Stay America Inc., Kimpton Hotels & Restaurants LLC, Sonesta International Hotels Corporation, Drury Hotels Company LLC, The Ritz-Carlton Hotel Company L.L.C., La Quinta Holdings Inc., Fairmont Hotels & Resorts Inc.
North America was the largest region in the domestic tourism market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the domestic tourism market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the domestic tourism market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The domestic tourism market includes revenues earned by entities by travel planning and booking, tour packages, guided tours and dining recommendations and reservations. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Domestic Tourism Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on domestic tourism market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for domestic tourism ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The domestic tourism market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.