Oxford Economics Global Travel Market Study
Get insights on the size of global travel market and Tripadvisor's impact from "Sizing the Worldwide Travel Economy" study, conducted by Oxford Economics in partnership with Tripadvisor.
$5.29 Trillion
Value of the 2017 global tourism market
41.9%
Growth of global travel market in the past 10 years
$546 Billion
Global tourism spending influenced by Tripadvisor
The global tourism market continues to grow
The value of global tourism has reached $5.29 trillion in 2017 — and the size of the market only continues to expand. Travel spend has grown steadily across the world, especially in Asia Pacific, the Middle East, and Latin America. A key contributing factor to the market expansion is a growing middle class in many large markets with more spending power and interest in travel due to social media.
Domestic travel remains the larger portion of worldwide market spend, but international travel continues to grow at a faster rate (8th year in a row). Overall tourism demand is also increasing faster than broader economic activity worldwide.
Travel-related spending that Tripadvisor sites influence has also outpaced growth in overall travel and tourism in the past decade. In 2017, Tripadvisor users were responsible for $546 billion (10.3%) of global tourism spending worldwide at a 7.4% annual average rate in the last 10 years.
See the latest global tourism market trends - and why your property’s Tripadvisor presence matters more than ever - by downloading the full report.
