Fully recovered and returning to progress, the worldwide journey trade reached $1.6 trillion in gross bookings in 2024 and is on observe to strategy $1.8 trillion by 2027, in response to Phocuswright’s newest journey analysis report, Global Travel Market Report 2025.
Fueled by digital adoption and regular leisure demand, this new period of journey is marked by structural transformation on a number of fronts. Yet progress is way from uniform: While established markets keep their leads, rising areas such because the Middle East and Latin America are rising quick. Together, these dynamics replicate an trade diversifying throughout markets, channels and client behaviors—creating each alternatives and challenges for stakeholders worldwide.
Global progress sustained
Travel gross bookings reached almost $1.6 trillion in 2024 and are projected to climb to greater than $1.8 trillion by 2027.
Digital acceleration holds
Online bookings grew 9% in 2024, lifting world digital penetration. By 2027, two thirds of all journey will probably be booked on-line.
Regional divergence
North America led with $539 billion in journey gross bookings in 2024, adopted by Asia Pacific (APAC). Europe is the third largest market, supported by resilient intraregional journey. Emerging areas collectively will broaden sooner than mature markets within the forecast interval.
Air and lodge dominate
Combined, the 2 segments account for almost three quarters of world journey gross bookings.
Distribution divide
Suppliers led on-line bookings in 2024, however on-line journey businesses retain their edge within the lodge phase, the place fragmentation favors intermediaries.
Shifting prime markets
Within the highest 15 markets, Mexico, Brazil and India are forecasted to ship the strongest progress momentum via 2027.
Resilient demand
Inflation, tariffs and coverage shifts have tempered sentiment, but blended journeys, value-seeking conduct and sustainability considerations proceed to form journey selections.
Taken collectively, these forces level to regular however uneven growth, with world gross bookings projected to develop a median of 5.2% yearly via 2027. Travelers are proving they are going to preserve shifting, even in unsure instances, but they’re additionally making sharper, extra deliberate selections about the place, how and why they journey.
The trade’s problem—and alternative—lies in adapting rapidly sufficient to seize this subsequent part of progress.
Phocuswright’s Global Travel Market Report 2025
This report gives complete market sizing and projections from 2021-2027, together with evaluation of key segments, developments and distribution dynamics for six areas: North America (U.S. and Canada), APAC, Europe, the Middle East, Latin America and Eastern Europe.