The 2024 WTM Global Travel Report reveals global leisure tourism expenditure in 2024 is now worth over $5.5 trillion, with bleisure a key trend to capitalize on.
Tourism Economics partnered with the World Travel Market (WTM) to produce the WTM Global Travel Report 2024, uncovering pivotal insights into travel’s evolution worldwide. One key trend emerged: business travel, far from diminishing post-pandemic, is thriving—especially when extended to incorporate leisure.
The integration of business with leisure, or “bleisure” travel, stands as the most significant growth niche, according to responses from Tourism Economics’ Travel Industry Monitor survey for 2024. Over half of industry experts surveyed rank this blended travel model as the top opportunity for expansion, underscoring its importance in today’s tourism landscape.
In-person meetings and business events retain their importance, with business overnights and spending now surpassing pre-2020 levels. In 2024, business travel will grow by nearly 19%, outpacing an 11% rise in leisure travel. This momentum continues, with business travel visits expected to grow around 50% by 2030, compared to a 30% rise in leisure visits.
Business travelers today extend their stays, increase their spending, and blend work with leisure time—thanks in part to more flexible remote working options. Although the volume of international business visits remains 6% below 2019 levels, business-related overnights pace ahead at 3% above the 2019 benchmark.
One key factor: Remote working has had a positive effect, enabling travelers to be more flexible around working overseas while capitalizing on leisure time.
Still, traditional leisure travel dominates the segment, accounting for 69% of global arrivals and 80% of travel spending.
Read the full WTM 2024 Global Travel Report here.
For more information from our Tourism Economics' team, contact Typhaine Blanco.