As in 2024, 84% of consumers plan to take a vacation in the coming year. While a steady share may be interpreted as stagnant growth, this high intent should be a comfort to the travel industry. After years of volatility from the pandemic and record inflation year-over-year stability means 2025 can be seen as the new benchmark in travel. That isn’t to say the industry isn’t growing. With 30.5% growth forecast over the next five years, the market for travel and tourism is expected to be worth nearly $900bn by 2029.
Among the four major travel segments, the Ardent Adventurers and Forethinking Forayers are driving these gains. Their motivations and attitudes toward vacations vary, which provide clues for travel brands to fulfill their needs. Moreover, their will to travel indicates that they’re going to travel – it’s just a question of which provider will get their dollars. Since 56% of travelers overall intend on spending more in 2025, it’s important to have a handle on these travel segments.
Reaching them, however, could be difficult. Some of the most active travelers have trouble trusting the information, leading them to look for expertise in addition to personalization. That personalization is being answered by many brands in the form of AI, but market forces and consumer sentiment may limit its effectiveness.
For the purposes of this Report, Mintel has used the following definitions:
The travel and tourism market includes both leisure and business travel segments, including: traveler accommodations, domestic and international passenger air transportation services, deep-sea passenger water transportation services, scenic and sightseeing transportation services and travel agencies and tour operators.
Vacationer: an internet user aged 18+ who plans to take a leisure trip in 2025.
After several eventful years, the travel industry is now set to enjoy a sense of normal operation. Consumers are keen to spend on travel – even more than in 2024.
Mike Gallinari
Senior Travel & Leisure Analyst
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