Global Domestic Tourism Market
Dublin, Feb. 22, 2023 (GLOBE NEWSWIRE) — The “Domestic Tourism Market Size, Share & Trends Analysis Report By Tour Type (Adventure, Spiritual/Cultural, Sports, Weekend Getaways), By Tourism Type, By Mode Of Booking, By Region, And Segment Forecasts, 2023 – 2030” report has been added to ResearchAndMarkets.com’s offering.
The global domestic tourism market size is expected to reach USD 5,858.27 billion by 2030. The market is expected to expand at a CAGR of 17.0% from 2023 to 2030.
The market is anticipated to expand further as disposable income rises, travel preferences among all age groups increase, and new tourist sites and touristic themes emerge. Many nations adopt the worldwide trend of spending more on leisure travel than on business travel, which is aiding the market thrive.
Domestic and international travelers have been drawn to both traditional and new tourism themes, such as nature, heritage and culture, religion, adventure, health and wellness, MICE, and weddings, among others.
Future industry development will be fueled by substantial domestic demand and economic growth, price-competitive services, infrastructural development, the introduction of new travel destinations, and specialized tour packages.
The adventure-based tourism segment of the domestic tourism market is dominating, and it is anticipated that it would hold the largest market share during the forecasted period. Adventure tourism initiatives open doors to new commercial possibilities. Numerous businesses focus on assisting new adventure tourism entrepreneurs in marketing their goods. Every new adventure tourism activity brings with it a fresh market potential.
Europe held the largest market share in 2022, owing to the continuous expansion of the residential sector on account of the increasing number of people. Owing to the internet-based economies, trends toward globalization in culture and communication, and the growing accessibility of travel for ever-larger segments of