Travel Subscription Market is expected to reach US$ 58.7 billion by 2030

Travel Subscription Market Size 

The Global Travel Subscription Market reached US$ 42.5 billion in 2022 and is expected to reach US$ 58.7 billion by 2030, growing with a CAGR of 4.1% during the forecast period 2023-2030. 

The global travel subscription market is growing, driven by rising disposable incomes and traveler preferences. 

Economic prosperity and increasing incomes have led to higher consumer spending on leisure activities, including travel subscriptions. Increased awareness through advertising and media exposure has also fueled the desire to travel to new destinations. 

With more leisure time and improved affluence, people are now able to travel more frequently and experience a variety of things. However, fluctuations in disposable income can still affect travel decisions, as families prioritize essentials over leisure expenses. 

The Asia-Pacific travel subscription market is also expanding, fueled by emerging travel corridors and regional economic trends. Northeast Asia, including Hong Kong and Japan, is becoming increasingly popular among Asia-Pacific travelers, while India, Australia, and New Zealand anticipate moderate growth. 

Hong Kong emerged as a top 3 destination in early 2023, and strong pent-up travel demand is expected to boost domestic travel recovery. Leisure flight bookings in various Asia-Pacific countries have also increased significantly, indicating the region's growing interest in travel subscriptions and tourism. 

Overall, the global travel subscription market is expanding, with the Asia-Pacific region witnessing significant growth. Travel subscriptions offer a convenient and affordable way for people to explore new destinations and have unique experiences. 

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Travel Subscription Market Dynamics 

The global travel subscription market is growing, driven by strong demand and travel reopenings. 

High-income consumers with significant savings are fueling consumer spending on travel. Mastercard reports that leisure travel bookings are up 31% compared to 2019, and 25% year-over-year from 2022 to 2023. Travel demand is robust in Europe, North America, Latin America, and the Middle East, with Asia-Pacific seeing a surge in flight bookings due to pent-up demand following mobility restrictions. 

Mainland China's reopening has significant implications for the global travel industry, as Chinese travelers are historically known for their high spending on retail and luxury travel experiences. Domestic travel recovery in China is also contributing to the growth of the travel market, driven by pent-up demand and tax-free shopping in places like Hainan. Luxury brands are adapting to local preferences, which is likely to remain successful in a post-COVID environment. 

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Market Segmentation 

By Type 

• Membership Clubs 
• Trip Subscription 

By Application 

• Luxury Travel 
• Ordinary Travel 

Market Key Players 

Major players are Blade Plus, Global Entry, Google Fi, Wheels Up, Inspirato Pass, Lyft Pink, TSA PreCheck, Priority Pass and AAA.

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