How big is the AR tourism market?
How big is the AR tourism market? Revenue in the AR & VR market is projected to reach US$31.12bn in 2023. Revenue is expected to show an annual growth rate (CAGR 2023-2027) of 13.72%, resulting in a projected market volume of US$52.05bn by 2027.
What is the size of the tourism market in 2023?
Despite the sharp increase, the market size of tourism worldwide remained below pre-pandemic levels, totaling around two trillion U.S. dollars in 2022. As forecast, this figure is expected to rise to nearly 2.29 trillion U.S. dollars in 2023, surpassing the peak reported in 2019.
What is the largest travel market in the world?
MACAO, Sept. 29 (Xinhua) -- The chief executive of the World Travel & Tourism Council (WTTC) said the sector's recovery from the COVID-19 pandemic was going really well, forecasting that China is set to become the world's biggest travel and tourism market in the next three to five years.
Where does the UK rank in tourist?
The Travel and Tourism Development Index ranked the UK as the fifth-best country for non-leisure travel worldwide in 2021, and the first-best country in Europe.
What is the largest tourism market in the world?
According to a new report from the World Travel & Tourism Council (WTTC), the US remains the biggest tourism market worldwide, with China and Germany taking second and third places in the rankings. The US travel and tourism sector contributed USD 1,217.2 billion to GDP (5.5 %).
What is the market size of the tourism industry?
Despite the sharp increase, the market size of tourism worldwide remained below pre-pandemic levels, totaling around two trillion U.S. dollars in 2022.
How big is the tourism market in augmented reality?
The Global AR VR in travel and tourism market ecosystem was valued at US$ 74.6 million in 2018 and is expected to reach US$ 304.4 million by the year 2023, growing at a CAGR of 32.5%. The growth of the AR VR in travel and tourism ecosystem is primarily due to the increasing demand for travel and tourism among people.