Institutional report: Estimated size of the leisure travel market is $15 trillion.

A report by the Boston Consulting Group estimates that by 2040, annual consumer spending on tourism will double from $5 trillion in 2024 to $15 trillion. Emerging markets such as China, India, and Saudi Arabia are expected to drive significant growth in the tourism industry, with China projected to become the country with the highest leisure spending. By 2040, international leisure travel is expected to more than double from $424 billion in 2024 to $1.4 trillion, with consumers increasingly opting for last-minute bookings and valuing experiences over material possessions.