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2019
Asia-pacific Group Travel Market

Asia-Pacific Group Travel Market by Group Type (Leisure Group, Special Interest Group, High End Group, and Incentive Travel) and Sales Channel (Travel Agencies and Tour Operators): Global Opportunity Analysis and Industry Forecast, 2019-2030
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A05706
Pages: 162
Sep 2019 | 7326 Views
Author(s) : Himanshu Vig, Shankar Bhandalkar , Roshan Deshmukh
Tables: 101
Charts: 38
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Asia-pacific Group Travel Market Outlook-2026

The Asia-Pacific group travel market size is expected to be valued at $689.5 billion by 2030, registering a CAGR of 6.0% from 2019 to 2030. According to UNWTO, Tourism is a social, cultural, and economic phenomenon, which entails movement of people across countries or places outside their usual environment for personal or professional purpose. Tourism sector has grown uninterrupted over the past years, becoming one of the fastest and largest-growing economic sectors around the world. International tourist arrivals have consistently grown over the years, from 25 million in 1950 to about 670 million in 2000 and reaching about a billion in 2012. In 2017s, international tourist arrivals grew by a remarkable 7%, recording a total arrival of about 1.3 billion. Furthermore, 2018 experienced an increase of international tourist arrivals for about 6% recording total arrivals of 1.4 billion tourists worldwide.

Asia-Pacific Group Travel Market

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The Asia-Pacific tourism market attracts numerous travelers from intra region as well as inter region. Intraregional tourist arrivals are anticipated to rise at the robust rate in Asia-Pacific region. Moreover, Asia-Pacific offers diverse leisure and adventure activities. Rain forests of Borneo, Mount Everest of Nepal, Sundarbans in India, and Whale watching in New Zealand have attracted tourists from round the world. Economic growth, ease of travel restrictions, increase in competition, and aggressive promotion strategies adopted by the engaged stakeholders in the industry along with regional government have significantly promoted and accelerated the expansion of the Asia-Pacific group travel industry.

However, the industry faces major challenges of terrorism, political unrest, and climate change. Political unrest and terrorism have affected the overall volume of foreign trips and choice of destination. Terrorism risk tends to profoundly intimidate the tourist affecting tourist perceptions of destinations and travel behavior. A mismanaged disaster results in tarnishing of destination’s image of safety with cascading effects of long-term crisis for the local tourism industry. Aftermath of terror attacks in country results in cancellation of bookings by various tour operators and agencies. Political unrest and terrorism results in the turmoil of the affected regional tourism industry

Asia-Pacific Group Travel Market
By Group Type

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Leisure group segments dominates the Asia-Pacific Group Travel market and is expected to retain its dominance throughout the forecast period.

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Groups that travel for the purpose of leisure, recreation, and vacations are termed as leisure groups. This also includes travel by groups for relaxation and entertainment. Leisure travel is often characterized by experiencing local tourist attractions, relaxing on beaches, or staying in congenial resorts and hotels. Travel for leisure dawned from the nineteenth century, however today’s leisure tourism industry has evolved multidimensionally. People are now extensively stepping outside the hectic lifestyle to unwind and release stress. As a result, travelers are looking for different ways to enhance their travel experience, which includes recreational activities, spiritual activities, and cultural activities.

Asia-Pacific Group Travel Market
By Sale Channel

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Travel Agencies segment is projected to grow with fastest CAGR during the forecast period

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Last few years have experienced radical transformation in the working of travel agencies. As more people are now being connected to internet, travel agencies have started their own website with diversified travel packages offerings around the world. The agencies use high end technology travel solutions with the latest updates and details of thousands of hotels, flights, and car rental services available with them. Furthermore, companies through their innovative mobile travel apps are now attracting large audiences for travel bookings. Apps infused with various features powered by artificial intelligence are being developed to remain connected to travelers throughout their journey and assist them during their visit. Travel apps offer high flexibility, wide options, and seamless consumer experience, and thus acts as a prominent differentiating factor for the tourists while choosing a travel agency. As a result, the travel agencies segment leads in terms of Asia-Pacific group travel market share in 2018 and is expected to retain its dominance throughout the Asia-Pacific group travel market forecast period.

Asia-Pacific Group Travel Market
By Country

2026
China 
Thailand
Indonesia
Malaysia
Singapore
India
Philippines
Taiwan
Hong Kong
Japan
Korea
Rest Of Asia-pacific

China dominates the Asia-Pacific Group Travel market and is expected to grow with a CAGR of 7.3% during the forecast period

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The Asia-Pacific group travel market is segmented based on group type, sales channel, and country. Based on group type, the Asia-Pacific group travel market is studied across leisure group, special interest group, high end group and incentive travel. Based on sales channel, the Asia-Pacific group travel market is bifurcated into travel agencies and tour operators. To gain a comprehensive understanding, the Asia-Pacific group travel market scenario is analyzed across key countries namely Thailand, Indonesia, Malaysia, Singapore, India, Philippines, China, Taiwan, Hong Kong, Japan, Korea, and rest of Asia-Pacific.

The Asia-Pacific group travel market analysis offers lucrative growth opportunities for the engaged stakeholders in the industry. Rise in disposable income, expansion of logistics & infrastructure, and rigorous promotion and advertising of regional tourism by respective governments majorly drive the Asia-Pacific group travel market growth. The region offers lucrative opportunities to market players for launching innovative packages for group travelers in the region.

The key players profiled in the report for Asia-Pacific group travel market are EXO Travel, Thomas Cook (India) Limited, G2 Travel, Apollo Asia Travel Group (AATG), Destination Asia, Expedia, Inc. Miki Travel Limited, Trafalgar, and ASIA DMC

Key Benefits for Asia-pacific Group Travel Market:

  • The Asia-Pacific group travel market report provides an extensive analysis of the current and emerging Asia-Pacific group travel market shares and opportunities.

  • The report provides detailed qualitative and quantitative analysis of the current Asia-Pacific group travel market trends and future estimations that help evaluate the prevailing market opportunities.

  • The market forecast is offered along with information related to Asia-Pacific Group Travel market size, key drivers, restraints, and opportunities.

  • The market analysis is conducted by following key product positioning and monitoring the top competitors within the market framework.

  • The report provides extensive qualitative insights on the potential and niche segments or regions exhibiting favorable growth and Asia-Pacific group travel market demand.

Key Market Segments & Key Market Players

Segments Sub-segments
By Sales Channel
  • Travel Agencies
  • Tour Operators

BY GROUP TYPE
  • Leisure Group
  • Special Interest Group
  • High End Group
  • Incentive travel

By Country
  • Thailand
  • Indonesia
  • Malaysia
  • Singapore
  • India
  • Philippines
  • China
  • Taiwan
  • Hong Kong
  • Japan
  • Korea
  • Rest of Asia-Pacific

Key Market Players
  • Apollo Asia Travel Group (AATG)
  • ASIA DMC
  • Destination Asia
  • EXO Travel
  • Expedia, In
  • G2 Travel
  • Globus
  • Miki Travel Limited
  • Thomas Cook (India) Limited
  • Trafalgar
 

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Asia-Pacific has enjoyed exceptional performance in international tourism in the last few years with above 80% of travelers being intraregional. Outbound demand is led by China, the world’s leading source market and top spender since 2012. Asia-Pacific’s dynamic economies have continued to nurture the region both as an outbound and inbound regional source market in the context of global tourism. Rapid economic growth in a region coupled with market openness in addition to rise in air connectivity and travel facilitation augment tourism in the Asia-Pacific region, both to/from other regions (interregional) and within the region (intraregional).

Identifying white spaces for further development and facilitation of tourism requires consortium to address social issues and shift in consumer preferences. Addressing the regional trends and adapting business accordingly requires colossal level of collaboration and agreement across different complex business and technology.

While majority of investment continues to foster toward tourism infrastructure in the form of airports, hotels, and attraction spots, the issue of human capital in tourism is anticipated to become more critical in the upcoming future sector. As a result, greater strides must be made aligning attention toward education and training in the tourism sector
 

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FREQUENTLY ASKED QUESTIONS?

A. The forecast period of Asia-Pacific Group Travel market report is from 2019 to 2030.

A. The global Asia-Pacific Group Travel market was valued at $ 363.1 billion in 2019

A. The report covers detailed profiling of key companies operating in the market including EXO Travel, Thomas Cook (India) Limited, G2 Travel, Apollo Asia Travel Group (AATG), Destination Asia, Expedia, Inc. among others

A. Top companies holding significant market share are EXO Travel, G2 Travel, Apollo Asia Travel Group (AATG), Expedia, Inc.

A. The travel agencies segment of the report is expected to growth at a healthy CAGR during the forecast period

A. The rise in demand for unique holiday experience is expected to drive the growth of the group travel market.

A. Leisure group, special interest group, high end group, and incentive traveler groups are currently trending in the market

A. Leisure group segment of the report hold maximum market share in 2019.

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