Shopping Tourism Market is estimated to Witness
High Growth Owing to Rise in Disposable Income

The shopping tourism market involves
travel and tourism activity generating revenue through shopping experiences.
Shopping tourism allows travelers to explore exotic destinations while gaining
memorable experiences of different cultures through their shopping activities.
Retail therapy forms an important element of shopping trips that provide mental
relaxation to tourists. Rapid urbanization and growth of middle-class
population have increased discretionary spending on shopping tourism globally.



The global shopping tourism market is
estimated to be valued at US$ 267.21 Bn in 2024 and is expected to exhibit a
CAGR of 9.3% over the forecast period 2024 to 2031. Key Takeaways



Key players operating in the shopping tourism market are 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.
Secondly, emerging markets in Asia Pacific and Middle East regions offer
significant opportunities for shopping tourism owing to rising affluence.
Countries like Thailand, United Arab Emirates, and Malaysia have become popular
destinations for shopaholics.



Additionally, growing globalization and online retailing have expanded
opportunities for cross-border and intercontinental shopping trips. Tour
operators are launching customized shopping tour packages leveraging the
popularity of duty-free shopping hubs worldwide.



Market Drivers



Shopping
Tourism Market  Demand Rise in
disposable income among middle-class households is a key driver for the
shopping tourism market. Increased discretionary spending on non-essential
shopping experiences abroad has gained popularity. Furthermore, advancements in
internet and digital technologies have enabled easier research and planning of
shopping trips globally. Social media marketing by tourism boards and travel
communities online has promoted various exotic shopping destinations worldwide.

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