The Bleisure Travel Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Bleisure Travel Global Market Report 2024, The bleisure travel market size has grown strongly in recent years. It will grow from $394.10 billion in 2023 to $430.86 billion in 2024 at a compound annual growth rate (CAGR) of 9.3%. The growth in the historic period can be attributed to an increase in remote and hybrid work models, a growing emphasis on work-life balance, a rise in corporate travel and global business interactions, enhancing travel and hospitality services tailored for business travelers, and flexible work arrangements.
The bleisure travel market size is expected to see strong growth in the next few years. It will grow to $619.18 billion in 2028 at a compound annual growth rate (CAGR) of 9.5%. The growth in the forecast period can be attributed to the continuous evolution of hybrid and remote work arrangements, growth in experiential and personalized travel preferences, advancements in travel technology and connectivity, increasing focus on employee well-being and mental health, and expansion of global business opportunities and international trade. Major trends in the forecast period include the integration of AI and technology, increased emphasis on eco-friendly travel options and sustainable practices within the hospitality industry, the expansion of digital nomadism, customized itineraries, and advancements in travel technology and connectivity.
The rising working-age population is expected to propel the growth of the bleisure travel market going forward. Working-age populations refer to individuals typically between the ages of 15 and 64 who are considered economically active and capable of being part of the labor force. The working-age population is growing due to increased life expectancy and higher birth rates in emerging economies. Bleisure travel is useful in a rising working-age population by enhancing work-life balance and employee satisfaction, which can boost productivity and retention. For instance, in May 2021, according to the Conference Board Inc., a US-based non-profit research organization, the US working-age population is projected to grow over the next decades, with the growth rate steadily increasing from around 0.2% in 2020 to 0.6% in 2040, thereby limiting the supply of labor. Therefore, the rising working-age population is driving the bleisure travel market.
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The bleisure travel market covered in this report is segmented –
1) By Travel Type: Domestic, International
2) By Travel Duration: 2-4 Days, 1 Week, Above 1 Month
3) By Age Group: Millennial, Generation X, Other Age Groups
4) By Employee: Executives, Middle Management, Entry Level Employee
5) By Industries: Government, Corporate
Major companies operating in the bleisure travel market are focusing on developing innovative solutions, such as artificial intelligence (AI)-powered corporate travel management and expense reporting platforms, to enhance the management of travel and expenses for organizations. Artificial intelligence (AI)-powered corporate travel management and expense reporting platforms utilize advanced algorithms and machine learning to automate and optimize travel booking, itinerary management, and expense reporting, enhancing efficiency and accuracy for businesses. For instance, in February 2022, Coupa Software Inc., a US-based cloud-based spend management platform, launched Coupa Travel and Expense. This features an integrated platform that combines travel booking and expense management, offering real-time tracking, mobile accessibility, and intelligent expense monitoring to enhance the user experience and compliance.
The bleisure travel market report table of contents includes:
1. Executive Summary
2. Bleisure Travel Market Characteristics
3. Bleisure Travel Market Trends And Strategies
4. Bleisure Travel Market – Macro Economic Scenario
5. Global Bleisure Travel Market Size and Growth
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32. Global Bleisure Travel Market Competitive Benchmarking
33. Global Bleisure Travel Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Bleisure Travel Market
35. Bleisure Travel Market Future Outlook and Potential Analysis
36. Appendix
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