Travel Activities Market Definition
The market for Travel Activities includes all of the activities that travelers do while on vacation, which excludes transportation, accommodation, and meals. It encompasses all of the sightseeing activities, attractions, museums, outdoor, food experiences, day trips, shows, and wellness. The countries with the highest number of activities are the most touristic countries, with the United States at the top, followed by popular European travel destinations (Italy, Spain, France, United Kingdom, Portugal, and Greece). Australia, thanks to its array of outdoor activities, also received a high ranking. Vietnam and China have earned the top ranking for Asian countries. According to the World Travel and Tourism Council, The World Travel and Tourism Council has warned the COVID-19 pandemic could cut 50 million jobs worldwide in the travel and tourism industry. Asia is expected to be the worst affected. Once the outbreak is over, it could take up to 10 months for the industry to recover. The tourism industry currently accounts for 10% of global GDP.
The market study is broken down by Type (International travailing and Domestic/local travailing), by Application (Millennial, Generation X, Baby Boomers and Generation X) and major geographies with country level splits.
The growth of the market and the shift from offline to online bookings have attracted startups and classic OTAs to the travel market segment. Few startups have raised a large amount of funding, and currently, Get Your Guide (USD 654M) and Klook (USD 521M) have been the most successful. There have been important acquisitions in the sector, starting with the buyout of Viator by Tripadvisor in 2014, the exit of Musement to TUI (2018), and the acquisition of FareHarbor by Booking (2018). Airbnb entered the market in 2016 with Experiences. Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Travel Activities market throughout the predicted period.
Musement (Italy), Viator (United States), Klook (Hong Kong), GetYourGuide (Germany), Headout Inc. (United States), Airbnb (United States), Civitatis Tours (Spain), Expedia Group (United States), Tripadvisor (United States) and Trip.com Group (China) are some of the key players that are part of study coverage.
AdvanceMarketAnalytics has segmented the market of Global Travel Activities market by Type, Application and Region.
On the basis of geography, the market of Travel Activities has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2019. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement. If we see Market by Age of User, the sub-segment i.e. 18-24 will boost the Travel Activities market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Industry Product, the sub-segment i.e. Traveler accommodations will boost the Travel Activities market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Purpose, the sub-segment i.e. Adventure tourism will boost the Travel Activities market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Rising travel activities in emerging economies
- Increasing Popularity of Adventure tourism among youngsters
- Increasing Disposable Income
- Government bodies and organizations such as the World Tourism Organization UNWTO are promoting tourism in order to attract diverse tourists across the globe
- High Demand due to attractive Marketing and Promotional Strategies
- Growing Demand due to the increasing popularity of global sports and game events
- The growing concern related to risk involved in unpredictable weather condition
Analyst ViewEuropean destinations and world-famous attractions play the most important role in the tours and activities market. The typical customer is a digital millennial and females are slightly more interested than males.
Key Target AudienceTravel Activities Providers, Government Regulatory Bodies, Private Research Organization, Government Research Organization and Others
About ApproachThe research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Customization available in this Study:The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
** Confirmation on availability of data would be informed prior purchase