Top

Leisure travel spending to triple to $15 trillion by 2040

Leisure travel is set to triple in value by 2040, growing from $5 trillion today to $15 trillion, according to a new report by Boston Consulting Group (BCG).

But it’s not international jet-setting fueling the boom. The real engine is closer to home: domestic leisure travel is projected to generate nearly $12 trillion by 2040, while regional travel is set to triple to more than $2 trillion. International travel will grow the fastest but still hold the smallest share—reaching $1.4 trillion.

Meanwhile, the next wave of travelers is increasingly coming from emerging markets like China, India, Saudi Arabia, and Vietnam—outpacing traditional tourism heavyweights like the US, UK, and Germany.

These are among the findings of BCG’s report, Unpacking the $15 Trillion Opportunity in Leisure Travel, based on a survey of nearly 5,000 travelers across 11 countries, conducted by BCG’s Center for Customer Insight, plus an analysis of travel patterns in 68 markets.

“With more people taking vacations—and taking them more frequently—we’re seeing a profound shift in who’s traveling, what they expect, and how they plan their journeys,” said Christina Mühlenbein, a BCG managing director and partner, and a coauthor of the report. “New demographics, digital habits, and expectations are rewriting the rules.”

Millennials and Gen-Zers are now the most influential travelers globally. They plan more trips and spend more compared with older generations. These younger travelers are digitally savvy and socially conscious.

Once considered niche, solo travel is now mainstream. Today, 18% to 39% of travelers say they take solo trips. This is often driven by younger adventurers seeking cultural experiences, spiritual getaways, or wellness retreats over traditional beach vacations.

“Bleisure” travel isn’t just a pandemic-era phenomenon. In China, India, Nigeria, and Saudi Arabia, more than 70% of travelers plan to combine business and leisure trips. This compares with just 15% to 30% in the US, UK, and Germany.

Leisure travel spending to triple to $15 trillion by 2040
Unpacking the $15 Trillion Opportunity in Leisure Travel, Boston Consulting Group (BCG)

What Travelers Want

Across all markets, relaxing and spending quality time with loved ones remain top reasons to travel, but how people relax is shifting. While traditional beach getaways, urban adventures, and nature experiences are still popular, BCG’s report finds that travelers are increasingly motivated by cultural exploration, health and wellness retreats, and spiritual or religious journeys. Food tourism is also booming, where Chinese, Vietnamese, and Indonesian travelers ranked food as a top motivator.

“People are seeking travel experiences that reflect who they are,” said Dennis Utzerath, a BCG managing director and partner, and a coauthor of the report. “Traditional beach and city getaways haven’t lost their charm. But more and more, travelers are prioritizing meaning, convenience, and personal fulfillment alongside relaxation.”

AI Is the New Travel Agent

Travelers—especially those from emerging markets—are turning to AI for their trip plans. Many consumers in China (65%), India (59%), Indonesia (58%), and Vietnam (51%) report that they’re using AI-powered tools and chatbots to plan and book trips. But 79% to 85% of travelers from these same markets also say that human touch points remain important.

“The travelers of tomorrow look different—who they are, who they travel with (or without), what they expect, and how they make decisions,” said Lara Koslow, a BCG managing director and senior partner, and a coauthor of the report. “To stay relevant, travel companies will need to get ahead of these shifts—or risk being left off the itinerary.”

At 4i Magazine, our press releases emerge through close collaborations with public relations agencies, global tech companies, forward-thinking startups, and major international conferences. These partnerships allow us to deliver timely and curated announcements that highlight cutting-edge innovations, strategic alliances, product launches, and breakthrough technologies shaping the global tech and science landscape. Working hand-in-hand with PR professionals around the world, our editorial team ensures each release upholds our standards of clarity, relevance, and factual accuracy—serving as a trusted bridge between industry leaders and our informed, tech-savvy readership.