Travel in 2026 is a USD3.3 trillion industry that has moved from recovery to reinvention, with growth now driven by value-led experiences, agentic AI and Asia Pacific's ascent, rather than post-COVID-19 volume rebound. This report explores market size, regional dynamics, company shares and the forecast to 2031, when bookings will exceed USD3.8 trillion, identifying opportunities for operators to embed intelligence, seamlessness and resilience into the traveller journey.
Delivery
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Key Findings
A USD3.2 trillion industry moves from recovery to reinvention
Global travel booking sales are projected to reach USD3.2 trillion in 2026, up from USD1.7 trillion in 2021. The sharp 22% rebound of 2022 has given way to steadier, structural expansion, signalling that the industry has completed its post-pandemic recovery and is now defined by value-led experiences and digitalisation, rather than volume rebound.
Growth normalises as categories and source markets diverge
Growth has normalised to a mid-single-digit trajectory, but the headline masks sharp divergence. Leisure air travel, experiences and attractions, cruise and packages lead category growth, while Türkiye, India, Vietnam and Brazil are outpacing mature source markets, underscoring an emerging market-led model.
Global giants hold the lead, but regional upstarts see fastest growth
Trip.com Group and Booking Holdings each hold value shares of around 10-11%, with Expedia Group third, at approximately 5%. The fastest growing intermediaries are regionally anchored challengers solving local friction through digital payments and mobile-first models. Future share shifts will hinge on embedding AI into the traveller journey.
Exceeding USD3.8 trillion by 2031, as Asia Pacific takes the lead
Booking sales are forecast to exceed USD3.8 trillion by 2031, a real value CAGR of 3.1%. Asia Pacific is predicted to approach USD1.2 trillion, having overtaken North America in 2025. India stands out, growing from USD88 billion in 2026 to USD136 billion by 2031, driven by air connectivity and digital ecosystems.
Experiences become the primary purchase as AI reshapes the journey
Experiences and attractions will rank among the fastest growing categories over the period to 2031, with 23% real growth in in-destination spending. Meanwhile, 31% of consumers used AI for trip planning in 2026, and agentic AI is shifting travel from “search and compare” to “ask and book”, making the curated experiences layer the new battleground for value and loyalty.
Our expert’s view of travel in 2026
Travel booking sales snapshot
Key findings
A USD3.2 trillion market shifts from recovery to reinvention
Top five trends in travel
Top five trends uncovered
Drivers of consumer markets and impact on travel
Premiumisation, foodservice and fintech converge to elevate the traveller journey
Travel’s post-pandemic rebound matures into steady, structural growth
Mature markets sustain high spend as fastest growing categories diverge across regions
Asia Pacific overtakes North America as regional growth diverges across categories
Relaxation and safety lead traveller priorities as experiential factors gain ground
Global giants hold their lead as Trip.com and Booking tighten the race
Regional upstarts outpace global giants on growth
Fragmentation deepens as regional challengers erode incumbent dominance
Relevance, not reach, now decides who wins share
Mature markets sustain high spend as forecast growth categories diverge
China and US to dominate absolute growth as emerging markets gain ground
Asia Pacific set to drive the next phase of global travel growth
China’s outbound travel becomes income-driven as growth normalises
Three forces shaping the future of global travel
Travel bookings sustained by innovation, regional divergence and shifting values
Opportunities for growth
Our expert’s view of travel to 2031
Travel
Travel encompasses several categories including tourism flows, lodging, travel modes, in-destination spending and booking.
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