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DUBLIN--(BUSINESS WIRE)--The "Leisure Travel Market by Traveler Type, Sales Channel, By Age Group and By Expenditure Type: Global Opportunity Analysis and Industry Forecast, 2021-2027" report has been added to ResearchAndMarkets.com's offering. The global leisure travel market size was valued at $1,006.5 billion in 2019, and is projected to reach $1,737.3 billion by 2027, registering a CAGR of 22.6% from 2021 to 2027. The leisure travel economy comprised of a well-entrenched biosphere of industries including but not limited to logistics, accommodation, food, retail, recreation and other tourism services Companies, large and small in associated industries continuously strive to create experiences bringing people together, support communities and boosting economics of country. Substantial investment on tourism have multiplier effects in the expansion of economy including infrastructure development, stimulating private investment, aggregate demand and jobs. Tourism offers direct and indirect aid to a nation's economy as a result past few years have saw remarkable growth in the attention paid by tourism development experts, policy makers, and industry leaders especially in the developing region of Asia-pacific and Africa region. Recent years have seen paradigm shift towards experience rather than goods. Spending on consumer durables, apparels have seen faltering however, experiential spending on recreation, travel, and eating have seen rapid growth. As a result, travel is outpacing demand for goods. The trend is in sync with growing number of global outbound tourists in the last few years. The robust growth is expected to continue in the estimated future, driven primarily by the expansion of low cost airlines, government initiatives and technological advancements. While the expansion in tourism industry has led to creation of jobs, a proliferation of tour operators, and increased ease in booking accommodation, logistics and services, the push comes with its own set of unique challenges - economic slowdown, infrastructure, and political tensions, among other. The leisure travel market has been segmented based on traveler type, sales channel, age group, expenditure type and region. Based on traveler type, the leisure travel market is bifurcated into solo and group. Based on sales channel the global market is studied across conventional channels, online channels. By age group, it is divided into baby boomers, generation X, Millennials and Generation- Z. On the basis of expenditure type, the market is categorized into lodging, transportation, food and beverages, events & entertainment and others. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Key Benefits Market Dynamics Drivers Restraints Opportunities Companies Profiled For more information about this report visit https://www.researchandmarkets.com/r/sjneri

Answer: Outlook on the Leisure Travel Global Market to 2027 - Opportunity Analysis and Industry Forecast - ResearchAndMarkets.com