Travel market seen at $6.9b by 2034

IMARC projects 4.28% annual growth from 2026 to 2034.

The travel and tourism market is expected to reach $6.9b by 2034, up from $4.7b in 2025, according to a report by IMARC Group.

IMARC estimated the market will expand at a 4.28% compound annual growth rate from 2026 to 2034.

The report cited factors including Singapore’s position as a regional transit hub, aviation and hospitality infrastructure, a recovery in cruise passenger numbers, and greater use of digital booking and travel services.

IMARC also pointed to visa policies and government tourism initiatives, including meetings, incentives, conferences and exhibitions, cultural festivals, and sustainable tourism practices.
The study segments the market by domestic, inbound, and outbound travel, as well as service offerings such as ticket reservations, hotel bookings, and holiday and tour packages.

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