loader
report-image

Outbound Tourism Market Size, Industry Analysis By Purpose Type (Business, Holiday/Leisure, VFR), By Channel Type (Phone Booking, Online Booking, In Person Booking), By Tourist Type (Domestic, International), By Tour Type (Independent Traveller, Package Traveller, Tour Group), By Consumer Type (Men, Women) & Region – Forecasts

  • PUBLISHED ON
  • 06/12/2022
  • NO OF PAGES
  • 284
  • CATEGORY
  • Information Communication & Technology
Global Outbound Tourism Market – Overview
It is estimated for the global outbound tourism market to witness growth at a CAGR of 11.2% during the forecast period of 2022 to 2030. The market witnessed growth at a CAGR of 7.1% during the forecast period of 2018 to 2021. Outbound tourism has many positive economic impacts that reaches further than just the tourism industry. Outbound tourism can help to enhance the economies of many countries by providing economic boosts in a range of sectors such as retail, healthcare and education. Owing to these factors the market is witnessing growth at a stable rate during the forecast period.

Global Outbound Tourism Market – Growth Factors
The market for outbound tourism is witnessing growth at a decent rate owing to the increasing disposable income of the people around the globe. The market is also witnessing a boom owing to the decreasing rate of the aircrafts for travel and also owing to the easier visa facilities around the globe. Various countries offer on arrival visa and this factor is attracting a lot of tourism to those countries and this factor is estimated to boost the growth of the market during the forecast period. Apart from this, various countries are attracting tourists from all over the globe by indentifying various attractive schemes for the international tourists and this factor is also estimated to boost the growth of the market during the forecast period. However, some disturbing factors such as the war scenarios are estimated to hamper the growth of the market during the forecast period.

Global Outbound Tourism Market – Market Trends
• The market is witnessing a boom owing to the decreasing rate of the aircrafts for travel and also owing to the easier visa facilities around the globe.
• Various countries offer on arrival visa and this factor is attracting a lot of tourism to those countries and this factor is estimated to boost the growth of the market during the forecast period.
• Apart from this, various countries are attracting tourists from all over the globe by indentifying various attractive schemes for the international tourists and this factor is also estimated to boost the growth of the market during the forecast period.

Global Outbound Tourism Market – Segmentation
The global outbound tourism market is segmented based on purpose type, booking channel, tourist type, tourism type, tour type, consumer operation and by age group.

Based on the purpose type, the market is segmented into,
• Business
• Holiday/Leisure
• VFR & Others

Based on the booking channel type, the market is segmented into,
• Phone Booking
• Online Booking
• In Person Booking

Based on the tourist type, the market is segmented into,
• Domestic
• International

Based on the tourism type, the market is segmented into,
• Cultural & Heritage Tourism
• Medical Tourism
• Eco/Sustainable Tourism
• Sports Tourism
• Wellness Tourism & Others

Based on the tour type, the market is segmented into,
• Independent Traveller
• Package Traveller
• Tour Group

Based on the consumer type, the market is segmented into,
• Men
• Women

Based on the age group type, the market is segmented into,
• 15-25 Years
• 26-35 Years
• 36-45 Years
• 46-55 Years
• 66-75 Years

Global Outbound Tourism Market – Regional Analysis
It is estimated for the region of US to drive the growth of the market during the forecast period. The growing in the technological advancements in the food sector in the region is estimated to foster the growth of the market during the forecast period. The region of Europe is estimated to witness growth at a healthy rate during the forecast period. The Asia Pacific region is also estimated to witness a notable growth rate in the market.

Global Outbound Tourism Market – Key Market players
Orbit, Thomas Cook, SOTC Kuoni, Raj Travels, In Orbit Tours, Cox and Kings, TCI, Kesari, Riya Travels, Travelmart India, BTI Sita, Akbar Travels, Mercury Travels, BCD Travels, Amadeus, Kesari, and Gold Chip are the major players that are boosting the growth of the market during the forecast period.

Quality Assurance Process

  1. We Market Research’s Quality Assurance program strives to deliver superior value to our clients.

We Market Research senior executive is assigned to each consulting engagement and works closely with the project team to deliver as per the clients expectations.

Market Research Process




We Market Research monitors 3 important attributes during the QA process- Cost, Schedule & Quality. We believe them as a critical benchmark in achieving a project’s success.

To mitigate risks that can impact project success, we deploy the follow project delivery best practices:
  • Project kickoff meeting with client
  • Conduct frequent client communications
  • Form project steering committee
  • Assign a senior SR executive as QA Executive
  • Conduct internal editorial & quality reviews of project deliverables
  • Certify project staff in SR methodologies & standards
  • Monitor client satisfaction
  • Monitor realized value post-project

Case Study- Automotive Sector

One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).

Solution

The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research

The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.

Market Estimates and Forecast

In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.

Case Study- ICT Sector

Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.


Business Solution

An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.


Conclusion

The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.

CHOOSE LICENSE TYPE
QLOUD
Pricing

Select a license type that suits your business needs

Single User Access

US $4750

Only Four Thousand Seven Hundred Fifty US dollar

  • 1 User access
  • 15% Additional Free Customization
  • Free Unlimited post-sale support
  • 100% Service Guarantee until achievement of ROI
Multi User Cost

US $5750

Only Five Thousand Seven Hundred Fifty US dollar

  • 5 Users access
  • 25% Additional Free Customization
  • Access Report summaries for Free
  • Guaranteed service
  • Dedicated Account Manager
  • Discount of 20% on next purchase
  • Get personalized market brief from Lead Author
  • Printing of Report permitted
  • Discount of 20% on next purchase
  • 100% Service Guarantee until achievement of ROI
Enterprise User Cost

US $7750

Only Seven Thousand Seven Hundred Fifty US dollar

  • Unlimited User Access
  • 30% Additional Free Customization
  • Exclusive Previews to latest or upcoming reports
  • Discount of 30% on next purchase
  • 100% Service Guarantee until achievement of ROI