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November 4, 2025By: Tuhin SarkarThe travel industry is expected to surpass the global economy’s growth rate over the next decade, with annual growth projected at 3.5%, compared to the global economy’s 2.5% growth. This was revealed in the latest World Travel Market (WTM) Global Travel Report, released on 4th November, marking the beginning of WTM London. According to the report, by 2035, the global travel industry will generate more than $16 trillion, contributing nearly 12% to the global GDP. With international arrivals projected to exceed 1.5 billion by the end of 2025, the travel sector is reaching new heights.Optimistic Projections for the Future of TravelIn the WTM Global Travel Report, analysts projected that the global travel industry will see tremendous growth, outpacing the broader economy in the coming years. The travel market is on track to achieve an annual growth rate of 3.5% over the next decade, far exceeding the 2.5% expected for the global economy. These projections are set against a backdrop of record-breaking international travel in 2025, with arrivals forecasted to top 1.5 billion, surpassing the record set in 2019.Advertisement By 2035, the global travel sector is poised to generate over $16 trillion, which would account for nearly 12% of the world’s GDP. These optimistic growth projections highlight the ongoing transformation of the travel industry, driven by increasing global mobility and evolving consumer behaviours.Drivers Behind Travel GrowthThe report identifies several key factors contributing to the rapid expansion of the travel industry. One primary driver is the growing number of travellers venturing to more distant destinations and booking longer stays. Emerging markets, particularly in the Asia Pacific region, are expected to see continued economic growth, fuelling demand for international travel.AdvertisementFurthermore, as consumer spending habits evolve, more individuals are prioritising travel, allocating a significant portion of their budgets towards experiences over material goods. The shift towards experiential consumption, including live events, has further bolstered the travel sector. The rise in popularity of live concerts, exemplified by major tours like Taylor Swift’s Eras Tour, is an indicator of how cultural events are reshaping the travel landscape.New Travel Trends and Changing Consumer BehavioursTourists are increasingly choosing to travel off the beaten path, with many opting for trips during shoulder seasons to avoid the heat of peak summer months. The repo …
