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PUBLISHER: DataM Intelligence | PRODUCT CODE: 1372601

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PUBLISHER: DataM Intelligence | PRODUCT CODE: 1372601

Global Travel Subscription Market - 2023-2030

PAGES: 186 Pages
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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 globally travel subscription market is expanding with the increased disposable income and traveler preferences over the past few decades. Economic growth and rising incomes have contributed to greater consumer spending on leisure activities, including travel subscriptions. Increased awareness through advertising and media exposure has fueled the desire to explore new destinations.

More available leisure time and improved affluence have allowed people to travel more frequently and explore diverse experiences. However, fluctuations in disposable income can still influence travel choices, with families prioritizing essentials before considering leisure expenditures. Moreover, also the growing travel and tourism have seen globally in post COVID era which can be majorly seen in China, as it is a major hub for travel and tourism.

The travel subscription market in the Asia-Pacific is witnessing growth, driven by emerging travel corridors and regional economic trends. Northeast Asia, including Hong Kong and Japan, is experiencing a resurgence in popularity among Asia-Pacific travelers, while India, Australia and New Zealand anticipate more moderate expansion.

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


Strong Demand and Travel Reopenings

The globally travel subscription market is experiencing growth driven by several economic factors and traveler preferences. High-income consumers with substantial savings are boosting consumer spending. As per a report by the payments company MasterCard, leisure travel demand has remained strong, with bookings up by approximately 31% compared to 2019, showing a 25% year-over-year-to-date growth between 2022 and 2023. Robust travel demand is observed in regions like Europe, North America, Latin America and the Middle East, with Asia-Pacific witnessing 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, potentially providing a boost to global growth. Travelers from mainland China, historically known for retail spending, may shift towards discretionary services and luxury travel experiences. Domestic travel recovery, driven by pent-up demand and tax-free shopping in places like Hainan, is also contributing to the travel market's growth. Luxury brands are adapting to local preferences, which may continue to be successful in a post-COVID environment.

Airlines and Hotels Adapt to Changing Traveler Preferences

The global travel subscription market is expanding as airlines and hotels adapt to changing traveler preferences. The growth is in response to the rising popularity of subscription services, with 78% of U.S. adults paying for subscriptions in various sectors according to an International Survey by Zuora Subscribed Institute. The travel industry recognizes the potential in attracting both remote workers and leisure travelers seeking flexibility and extended stays.

Subscriptions lock in customers and boost profits, offering lower prices and convenience. Alaska Airlines, for instance, introduced a subscription program, Flight Plan, allowing subscribers to take up to 24 round trips for a fixed monthly fee. Smaller airlines globally are also adopting subscription plans. Additionally, hotels are embracing subscriptions to cater to younger travelers comfortable with monthly fees, marking a significant shift in the travel market.

Challenges of High Costs in the Travel Subscription Market: Implications for Travelers and the Industry

The high cost is a significant challenge impacting the travel subscription market. Many subscription plans require upfront fees or annual commitments, which can be prohibitively expensive for some travelers. Also, the cost of these subscriptions may not always align with travelers' changing needs and circumstances, making them less attractive.

Rising expenses in the travel industry, such as accommodation, fuel and airline tickets, are also pushing travelers to be more cost-conscious, making them hesitant to commit to additional subscription expenses. As travelers prioritize budget-friendly options and flexibility, high subscription costs can deter them from participating in travel subscription programs, hindering the market's growth and accessibility. Travel companies need to consider affordability and adaptability to meet evolving consumer demands.

Segment Analysis

The global silo bags market is segmented based on type, application and region.

Membership Clubs as a Key Option in the Travel Subscription Market Catering to Diverse Traveler Needs

Membership clubs hold a significant share in the travel subscription market due to the growing demand for personalized and convenient travel experiences. The clubs cater to a diverse range of travelers, offering exclusive benefits and services. Wheels Up, for instance, provides private jet charter memberships, granting access to a versatile fleet and various perks, including partnership rates with renowned brands.

PS at LAX offers privacy and convenience, letting travelers bypass airport hassles. Inspirato offers luxury vacation homes and resorts, while Scott's Cheap Flights alerts members to budget-friendly airfare deals. Other clubs like Priority Pass, CLEAR and Well Traveled enhance airport experiences. Travel + Leisure Club provides curated itineraries and Exclusive Resorts offers personalized luxury residences globally. The memberships address travelers' diverse needs, making them a significant player in the travel subscription market.

Geographical Penetration

Asia-Pacific Surges Ahead in the Travel Subscription Market Amidst Tourism Recovery

The Asia-Pacific is rapidly gaining a significant share of the travel subscription market, mirroring its robust tourism recovery. The latest data from UNWTO reveals that Asia and the Pacific accelerated their recovery, reaching 54% of pre-pandemic tourism levels in Q1 2023. The uptrend is set to further accelerate as destinations, especially China, reopen.

The region's resurgence is indicative of its resilience and growing appeal to travelers. While other regions have also made substantial recoveries, Asia-Pacific stands out as a key player. The travel subscription market is poised to benefit from this resurgence, as more travelers seek flexible and cost-effective options, contributing to the region's dominance in this sector.

COVID-19 Impact Analysis:

The COVID-19 pandemic had a severe impact on the travel subscription market as international tourism plummeted by around 80% in 2020. The crisis disrupted global travel and tourism, causing job losses, business closures and economic hardships. While domestic tourism provided some relief, international travel restrictions remained a significant challenge. Vaccines offered hope for recovery, but challenges persisted, including vaccine distribution and ongoing travel restrictions.

Tourism businesses faced survival threats, requiring government support. Recovery hinged on restoring traveler confidence, adapting tourism businesses, promoting domestic tourism and providing clear information to travelers. The crisis presented an opportunity to build a more sustainable and resilient tourism sector by capitalizing on digitalization and promoting a low-carbon transition. However, the tourism industry's recovery remained uncertain, with potential stop-and-start cycles and the need for global cooperation.

Russia-Ukraine War Impact Analysis

The Russia-Ukraine war has significantly impacted the travel subscription market. It has led to airspace closures, disrupted international travel routes and created uncertainty in travel plans. Airlines faced challenges, including rising fuel costs and route alterations. Major travel brands withdrew operations from Russia, affecting the availability of travel services.

Countries relying on Russian tourists implemented restrictions, while some destinations saw increased Russian visitors. Corporate travel agencies faced complexities in handling relationships with Russian partners. Overall, the war has disrupted the global travel landscape, impacting subscriptions as travelers faced limitations and uncertainties in their travel options, leading to changes in travel behavior and subscription preferences.

By Type

  • Trip Subscription
  • Membership Clubs

By Application

  • Luxury Travel
  • Ordinary Travel

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Russia
    • Rest of Europe
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Asia-Pacific
    • China
    • India
    • Japan
    • Australia
    • Rest of Asia-Pacific
  • Middle East and Africa

Key Developments

  • In June 2023, Yatra, a prominent online travel agency and corporate travel service provider, launched its new travel subscription service, "Yatra Prime." The subscription offers a range of benefits designed to enhance the travel experience, including the elimination of convenience fees on top of existing offers, access to special fares for domestic air tickets and priority VIP customer support. Subscribers can also earn Yatra vouchers by reaching specific spending milestones during their membership.
  • In June 2023, Wizz Air, Europe's seventh-largest airline, introduced the continent's first flight subscription service, known as the "Multipass" program, in collaboration with subscription specialist Caravelo. The service caters to customers traveling on domestic flights within Italy or international flights from Poland. Subscribers pay a fixed monthly fee in exchange for either a one-way or roundtrip flight each month..
  • In September 2022, Hapi Travel Destinations, a subscription travel platform, launched in U.S. The platform aims to capitalize on shifting traveler priorities and work-life flexibility trends, offering a subscription-based model that allows users to earn points when booking vacations and referring others. Hapi Travel offers different subscription tiers, with the Explorer subscription priced at US$50 per month and the Elite+ package costing US$2,500 to join, followed by a US$244 annual fee.

Competitive Landscape

The major global players in the market include: AAA, Blade Plus, Global Entry, Going, Google Fi, Wheels Up, Inspirato Pass, Lyft Pink, TSA PreCheck, Priority Pass.

Why Purchase the Report?

  • To visualize the global travel subscription market segmentation based on Type, Application and region, as well as understand key commercial assets and players.
  • Identify commercial opportunities by analyzing trends and co-development.
  • Excel data sheet with numerous data points of travel subscription market-level with all segments.
  • PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
  • Product mapping available as excel consisting of key products of all the major players.

The global silo bags market report would provide approximately 47 tables, 53 figures and 186 Pages.

Target Audience 2023

  • Manufacturers/ Buyers
  • Industry Investors/Investment Bankers
  • Research Professionals
  • Emerging Companies
Product Code: FMCG7201

Table of Contents

1. Methodology and Scope

  • 1.1. Research Methodology
  • 1.2. Research Objective and Scope of the Report

2. Definition and Overview

3. Executive Summary

  • 3.1. Snippet by Type
  • 3.2. Snippet by Application
  • 3.3. Snippet by Region

4. Dynamics

  • 4.1. Impacting Factors
    • 4.1.1. Drivers
      • Strong Demand and Travel Reopening's
      • Airlines and Hotels Adapt to Changing Traveler Preferences
    • 4.1.2. Restraints
      • Challenges of High Costs in the Travel Subscription Market: Implications for Travelers and the Industry
    • 4.1.3. Opportunity
    • 4.1.4. Impact Analysis

5. Industry Analysis

  • 5.1. Porter's Five Force Analysis
  • 5.2. Supply Chain Analysis
  • 5.3. Pricing Analysis
  • 5.4. Regulatory Analysis
  • 5.5. Russia-Ukraine War Impact Analysis
  • 5.6. DMI Opinion

6. COVID-19 Analysis

  • 6.1. Analysis of COVID-19
    • 6.1.1. Scenario Before COVID
    • 6.1.2. Scenario During COVID
    • 6.1.3. Scenario Post COVID
  • 6.2. Pricing Dynamics Amid COVID-19
  • 6.3. Demand-Supply Spectrum
  • 6.4. Government Initiatives Related to the Market During Pandemic
  • 6.5. Manufacturers Strategic Initiatives
  • 6.6. Conclusion

7. By Type

  • 7.1. Introduction
    • 7.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
    • 7.1.2. Market Attractiveness Index, By Type
  • 7.2. Membership Clubs*
    • 7.2.1. Introduction
    • 7.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
  • 7.3. Trip Subscription

8. By Application

  • 8.1. Introduction
    • 8.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
    • 8.1.2. Market Attractiveness Index, By Application
  • 8.2. Luxury Travel*
    • 8.2.1. Introduction
    • 8.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
  • 8.3. Ordinary Travel

9. By Region

  • 9.1. Introduction
    • 9.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Region
    • 9.1.2. Market Attractiveness Index, By Region
  • 9.2. North America
    • 9.2.1. Introduction
    • 9.2.2. Key Region-Specific Dynamics
    • 9.2.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
    • 9.2.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
    • 9.2.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
      • U.S.
      • Canada
      • Mexico
  • 9.3. Europe
    • 9.3.1. Introduction
    • 9.3.2. Key Region-Specific Dynamics
    • 9.3.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
    • 9.3.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
    • 9.3.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
      • Germany
      • UK
      • France
      • Italy
      • Russia
      • Rest of Europe
  • 9.4. South America
    • 9.4.1. Introduction
    • 9.4.2. Key Region-Specific Dynamics
    • 9.4.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
    • 9.4.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
    • 9.4.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
      • Brazil
      • Argentina
      • Rest of South America
  • 9.5. Asia-Pacific
    • 9.5.1. Introduction
    • 9.5.2. Key Region-Specific Dynamics
    • 9.5.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
    • 9.5.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
    • 9.5.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
      • China
      • India
      • Japan
      • Australia
      • Rest of Asia-Pacific
  • 9.6. Middle East and Africa
    • 9.6.1. Introduction
    • 9.6.2. Key Region-Specific Dynamics
    • 9.6.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
    • 9.6.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application

10. Competitive Landscape

  • 10.1. Competitive Scenario
  • 10.2. Market Positioning/Share Analysis
  • 10.3. Mergers and Acquisitions Analysis

11. Company Profiles

  • 11.1. AAA*
    • 11.1.1. Company Overview
    • 11.1.2. Product Portfolio and Description
    • 11.1.3. Financial Overview
    • 11.1.4. Key Developments
  • 11.2. Blade Plus
  • 11.3. Global Entry
  • 11.4. Going
  • 11.5. Google Fi
  • 11.6. Wheels Up
  • 11.7. Inspirato Pass
  • 11.8. Lyft Pink
  • 11.9. TSA PreCheck
  • 11.10. Priority Pass


12. Appendix

  • 12.1. About Us and Services
  • 12.2. Contact Us
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Jeroen Van Heghe

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Manager - Americas


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