A new report by Boston Consulting Group projects global leisure travel spending to triple from $5 trillion in 2024 to $15 trillion by 2040.

Titled “Unpacking the $15 Trillion Opportunity in Leisure Travel”, the report draws on a survey of nearly 5,000 travellers across 11 countries and an analysis of travel trends in 68 markets, conducted by BCG’s Center for Customer Insight.

Although international leisure travel will see the fastest growth, the surge in global travel spending will be driven primarily by domestic and regional trips, according to the report.

Report noted that domestic leisure travel is expected to account for nearly $12 trillion by 2040, while regional travel is projected to triple to over $2 trillion.

Meanwhile, International travel, despite its rapid expansion, will remain the smallest segment at $1.4 trillion.

According to the report, emerging markets such as China, India, Saudi Arabia, and Vietnam are set to lead the next surge in global travel demand, outpacing established tourism giants like the US, UK, and Germany.

“With more people taking vacations—and taking them more frequently—we’re seeing a profound shift in who’s traveling, what they expect, and how they plan their journeys,” said Christina Mühlenbein, a BCG managing director and partner. “New demographics, digital habits, and expectations are rewriting the rules.”

The report highlights a growing reliance on AI for travel planning, particularly among travelers from emerging markets.

In countries like China 65% per cent, India 59 per cent per cent, Indonesia 58 per cent and Vietnam 51 per cent, many consumers are already using AI-powered tools and chatbots to plan and book trips.

“The travelers of tomorrow look different—who they are, who they travel with (or without), what they expect, and how they make decisions,” said Lara Koslow, a BCG managing director and senior partner. “To stay relevant, travel companies will need to get ahead of these shifts—or risk being left off the itinerary.”

However, 79 per cent to 85 per cent of travelers in these same markets still value human interaction as an essential part of the travel experience.

While relaxation and spending time with loved ones remain the leading reasons for travel across all markets, the ways travelers choose to relax are changing.

BCG’s report underscores a shift in travel motivations, with more travelers seeking cultural exploration, wellness retreats, and spiritual or religious experiences.