The global leisure travel market is expected to grow at a significant rate over the next few years, reaching approximately $1,336 billion by 2023, according to a new report from ResearchAndMarkets.com. The report identifies several key factors driving this growth, including increasing disposable incomes, a growing trend toward experiential travel, rising consumer preferences for adventure and unique experiences, and technological advancements that are making travel more accessible and affordable. The report also highlights the impact of changing demographics on the industry, as younger generations place increasingly higher value on travel and exploration. While the report notes that the industry faces challenges from factors such as geopolitical instability and climate change concerns, it suggests that the leisure travel market overall is poised for robust growth in the coming years.
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