Bleisure Travel Market By Employee (Executives, Middle Management, Entry level Employee), By Age Group (Millennial, Generation X, Others), By Industries (Government, Corporate): Global Opportunity Analysis and Industry Forecast, 2023-2032
The bleisure travel market size was valued at $315.3 billion in 2022 and is estimated to reach $731.4 billion by 2032, registering a CAGR of 8.9% from 2023 to 2032.
The boundaries between work and personal life are blending more as technological advancement is booming. This in turn is influencing how employees across the globe travel, and it's becoming more popular for business travellers to extend their trips so they may experience the local cuisine, culture, and attractions.
Although the term bleisure travel was only established a decade ago, it is not entirely new. Many business travellers have traditionally included play days and other enjoyable activities in their travels for work, with or without their organizations' knowledge. Moreover,businesses are now increasingly supporting bleisure travel because they value the benefits of enhanced employee relations along with acknowledgment, official policies and procedures.
Workcations, on the other hand, are typically personal vacations that also involve business. More specifically, flexible work schedules and rules that allow employees to work from home can allow them to take a vacation while still maintaining a full-time (or, in some situations, part-time) work schedule during their stay. On a week-long vacation, a worker might carry their laptop and set aside time to complete business tasks as well as explore the location.
Business personnel often work longer hours to make the anticipated revenues when there is greater competition. Such fierce rivalry also causes employee stress and burnout. It can lead to physical health problems including chronic pain, heart problems, and hypertension as well as mental health problems like depression, anxiety, and insomnia. Additionally, a number of symptoms, including irritation, mood changes, fatigue, and decreased productivity, can be brought on by burnout. It could cause staff members to seek medical attention or take sick days, both of which can be expensive for a business. There is an increasing need for work-life balance in order to maintain mental health among employees globally. Employers may also save money and keep a happier, more productive workforce by establishing a work environment that prioritizes work-life balance. Travelling for business is another new trend that helps people combine their job and wellness. Therefore, it is anticipated that the demand from significant employers worldwide will drive growth in the leisure travel industry.
Digital transformation in the travel industry can be seen in the adoption of digital solutions for routine travel planning tasks like selecting a destination and building an itinerary, booking flights and other modes of transportation, hotels and other accommodations, or creating offers that are as specifically tailored to the needs of customers as possible. Another example is the ability to take virtual tours of potential destinations before making a decision. The travel sector is at the forefront of technological development and is constantly changing as a result of new technology. The travel, tourism, and aviation industry are expected to spend up to $305 billion on digitization processes between 2016 and 2025, according to the World Economic Forum's Digital Transformation Initiative (DTI). Customers and society will gain $700 billion from the digital transformation. It's also projected that this process will shift $100 billion in value away from long-standing companies and towards their new digital rivals. As a result, incorporating technology into leisure travel often promotes growth.
The bleisure travel market is segmented on the basis of employee, age group, industry and region. By employee, the bleisure travel market is classified into executive, middle management, and entry level employee. Depending on age group, the market is categorized into millennial, generation X and others. By industry, the market is categorized into government and corporate. By region, the market is analyzed in North America, Europe, Asia-Pacific, and LAMEA.
Some of the major players analyzed in this report are Bleisure Travel Company, BCD Group, Booking Holdings, Fareportal, Expedia Group, Airbnb, Flight Centre Travel Group, Wexas Travel, TravelPerk, TravelBank and FCM Travel Solution.
Key Benefits For StakeholdersThis report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the bleisure travel market analysis from 2022 to 2032 to identify the prevailing bleisure travel market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the bleisure travel market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global bleisure travel market trends, key players, market segments, application areas, and market growth strategies.
Key Market SegmentsBy Age GroupMillennial
Generation X
Others
By IndustriesGovernment
Corporate
Sub Type
Technology
Healthcare
Public Administration
Manufacturing
Others
By EmployeeExecutives
Middle Management
Entry level Employee
By RegionNorth America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
Switzerland
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
South Africa
UAE
Argentina
Rest of LAMEA
Key Market Players
Airbnb, Inc.
BCD Group
Booking Holdings, Inc.
Cvent Inc.
Expedia Group Inc.
Fareportal
Flight Centre Travel Group Limited
Travelator, Inc.
TravelPerk S.L.U.
Wexas Travel
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