Tourism Source Market By Booking Channel (Websites, Mobile Applications, Travel Agencies, Others), By Tourist Type (Solo, Group, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032

Tourism Source Market By Booking Channel (Websites, Mobile Applications, Travel Agencies, Others), By Tourist Type (Solo, Group, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032

The global tourism source market was valued at $599.4 billion in 2022, and is projected to reach $1.1 trillion by 2032, growing at a CAGR of 6.6% from 2023 to 2032.The many origins or locales from which visitors travel to a specific location are referred to as the tourism sources market. Tourists from other countries and those traveling domestically (inside their own country) might be categorized under this category. The tourism sources market is a crucial factor for tourism organizations, enterprises, and destinations since it enables them to comprehend the traits, tastes, and behaviors of various tourists’ kinds and to adjust their marketing and promotional efforts accordingly.

The spread of Western culture, values, and lifestyles to other parts of the world is referred to as Westernization. An increase in foreign influences occurs when a nation westernizes, making it more receptive to outside influences and potentially attracting more tourists. As a result, the source market's tourism sector may grow more quickly.

Furthermore, increased interest in foreign cultures and ways of life is one way that Westernization might accelerate the expansion of the source tourist business. People may become more interested in other cultures and more eager to travel to other nations to experience them as they are exposed to western ideas and practices. A rise in outbound travel from the source market may result from this.

By fostering a more favorable business climate for tourism, westernization also accelerates the expansion of the source tourism sector. Countries may attract more foreign investors and visitors when they adopt Western business standards and practices. The country's inbound tourism will rise as a result, which will enhance the overall expansion of the source market's tourist sector.

By source, most international tourists came from Europe and more recently from Asia, driven by China, which now accounts for a fifth of international tourism spending and tourist arrivals. By destination, Europe remained the most visited region, with Asia catching up as the fastest-growing destination for international tourism, followed by a significant share of regional travel within the Western Hemisphere. About three out of four international trips were taken within the same geographical region, with about half of travel undertaken for leisure, followed by visits with friends and relatives, and business travel.

For group travelers, customized experiences are expanding the source tourism business in several ways. Customized tours appeal to group travelers' distinct interests and preferences by offering personalized travel experiences, enabling them to create their own schedules, activities, and lodgings. As a result, the trip becomes immersive and fulfilling while still meeting the needs of the group.

Tailored experiences are also expanding the source tourism industry for group travelers by luring new visitor demographics that are looking for specialized and uncommon travel experiences. Customized excursions, for instance, may focus on a particular interest, like wine tasting, cultural history, or adventure sports. Customized tours can target traveler groups and set themselves apart by providing these exclusive experiences.

The market for source tourism among group travelers is growing in a number of ways owing to the integration of technology. Technology is increasing group travel accessibility and convenience by offering travelers a smooth and effective booking experience, which in turn is increasing demand for group travel.

The expansion of the source tourist market is significantly influenced by international travel. Traveling opens people's eyes to different cultures, languages, and habits, which might pique their curiosity about other people's cultures and boost their propensity to travel abroad again in the future. The tourism source market is growing as a result of this exposure. A country's internal tourism may also increase as a result of foreign visitors finding new and attractive locations there, giving residents more incentive to travel outside.

Additionally, international travel can promote the sharing of information and ideas between nations, which may lead to the creation of fresh travel-related goods and services in the market of origin. These cutting-edge goods and services can draw more visitors and support the expansion of the tourism sector. Additionally, as a nation receives more foreign visitors, it may draw more foreign investment, which may be used to build new tourist facilities like hotels, airports, and attractions, ultimately improving the nation's appeal to both domestic and foreign visitors.

Inadequate support infrastructure at ecotourism destinations like inadequate air, rail, or road connectivity to various ecotourism destinations in developing and underdeveloped countries are major challenges to the proliferation of ecotourism. Furthermore, low availability of accommodation along with limited availability of quality and hygienic restaurants, food outlets, and hotels at destinations hampers the growth of ecotourism tourist arrivals particularly in developing regions. In addition, the monopoly of few tourist guides along with insufficient availability of certified and trained tourist guides aggravate the risk of exploitation of tourists.

The tourism source market is segmented into booking channels, tourist types, and regions. By booking channel, the market is classified into websites, mobile applications, travel agencies, and others. Depending on tourist type, the market is categorized into solo, group, and others. Region wise, the market is divided across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, Spain, Russia, Sweden, Netherlands, Denmark, Poland, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, Thailand, Malaysia, Singapore, Indonesia, New Zealand, and Rest of Asia-Pacific), and LAMEA (Brazil, Argentina, South Africa, Saudi Arabia, Egypt, UAE, and Rest of LAMEA).

Key Benefits For Stakeholders

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the tourism source market analysis from 2022 to 2032 to identify the prevailing tourism source 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 tourism source 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 tourism source market trends, key players, market segments, application areas, and market growth strategies.

Key Market Segments

By Tourist Type

Solo
Group
Others

By Booking Channel

Websites
Mobile Applications
Travel Agencies
Others

By Region

North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Italy
Spain
Russia
Sweden
Netherlands
Denmark
Poland
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Thailand
Malaysia
Singapore
Indonesia
New Zealand
Rest of Asia-Pacific
LAMEA
Brazil
Argentina
South Africa
Saudi Arabia
Egypt
UAE
Rest of LAMEA
Key Market Players
Airbnb, Inc.
Booking Holdings, Inc.
Delta Air Lines, Inc.
Expedia, Inc.
Iberia Express, S.A.
Italia Trasporto Aereo S.p.A.
Ryanair Group
TripAdvisor LLC
TUI Group
Vueling Airlines SA

Please Note: It will take 7-10 business days to complete the report upon order confirmation.