According to Cognitive Market Research, the global Outbound Tourism market size was USD 17518.2 million in 2024. It will expand at a compound annual growth rate (CAGR) of 12.50% from 2024 to 2031.
North America held the major market share for more than 40% of the global revenue with a market size of USD 7007.28 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.7% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 5255.46 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 4029.19 million in 2024 and will grow at a compound annual growth rate (CAGR) of 14.5% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 875.91 million in 2024 and will grow at a compound annual growth rate (CAGR) of 11.9% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 350.36 million in 2024 and will grow at a compound annual growth rate (CAGR) of 12.2% from 2024 to 2031.
The Business is the fastest growing segment of the Outbound Tourism industry
