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Travel & Tourism revenue is expected to reach US$854,70bn by 2023.
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The revenue is anticipated to increase at a pace of 4.42% annually (CAGR from 2023 to 2027), with a market size of US$1,016.00 billion as a consequence.
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The Travel & Tourism Market is dominated by the Hotel market, with a market volume projected to be US$410.00bn by 2023.
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The global population of hotel users is predicted to reach 1,333,000,000 by 2027.
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In 2027, the user adoption rate is anticipated to reach 27.2%.
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The average revenue per customer (ARPU), is expected to be US$0.46k.
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By 2027, online sales will generate 74% of the total revenue in the Travel & Tourism sector.
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By 2023, the USA will produce the most revenue ($190.40 billion).