SHOPPING TOURISM MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

The global shopping tourism market is estimated to be valued at USD 267.21 Bn in 2024 and is expected to exhibit a compound annual growth rate (CAGR) of 9.3% from 2024 to 2031. The global shopping tourism market has been witnessing steady growth over the past few years. Shopping tourism refers to the activity of traveling to purchase goods and avail shopping experiences. Increased globalization and rising disposable incomes have boosted international travel for shopping purposes. Consumers are exploring new destinations not just for leisure and sightseeing but also for availing attractive offers and unique products available abroad. Popular shopping destinations include countries like the U.S., U.K., Italy, France, UAE, and Japan. Ease of travel, foreign exchange rates, and duty-free concessions have further propelled the growth of shopping tourism worldwide.

 Market Dynamics:

Key drivers boosting the global shopping tourism market include rising international tourism, improving standards of living, and social media influence. Additionally, growing wages and spending power of consumers, especially in emerging economies are fueling overseas shopping. Social networking platforms have also played a pivotal role in promoting unique products and experiences abroad, luring more shoppers. However, volatility in currency exchange rates and import duties remain longstanding challenges for cross-border shoppers. Also, the outbreak of COVID-19 pandemic severely impacted international travel and shopping tourism in 2020. However, recovery is underway post containment of the virus.

 Key Features of the Study:

• This report provides in-depth analysis of the global shopping tourism market and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global shopping tourism market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include Japan Deluxe Tours, Trafalgar Tours, EF Educational Tours, The Shopping Sherpa, Luxury Escapes, Costco Travel, AAA Vacations, Travel + Leisure, Context Travel, Intrepid Travel, Tauck Tours, Backroads, Country Walkers, G Adventures, World Expeditions, AdventureSmith Explorations, Esquire Travel, and Abercrombie & Kent
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• The global shopping tourism market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global shopping tourism market.

Detailed Segmentation-

• By Product Type:
  • Fashion & Accessories
  • Beauty & Cosmetics
  • Electronics
  • Food & Beverage
  • Others
• By End User:
  • Men
  • Women
  • Others
• By Purpose of Trip:
  • Leisure
  • Medical
  • Business
  • Education
• By Region:
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Company Profiles:

• Japan Deluxe Tours
• Trafalgar Tours
• EF Educational Tours
• The Shopping Sherpa
• Luxury Escapes
• Costco Travel
• AAA Vacations
• Travel + Leisure
• Context Travel
• Intrepid Travel
• Tauck Tours
• Backroads
• Country Walkers
• G Adventures
• World Expeditions
• AdventureSmith Explorations
• Esquire Travel
• Abercrombie & Kent