Phocuswright has released its annual year-end and year-ahead report, Travel Forward: Data, Insights & Trends for 2026, sponsored by Travel Guard.
The report outlines data and trends that will shape the global travel industry next year and beyond, including market sizing, the short-term rental landscape, the impact of artificial intelligence (AI) on the industry, corporate and consumer travel trends, loyalty, luxury and more.
“Each year, this report gives us the opportunity to step back and let the data reveal the real story of where travel is heading,” said Stan Pawlow, Phocuswright data analyst and lead author of the report. “We’re inspired by what emerges: a market that remains robust and full of momentum, but also one that is evolving in ways that deserve attention. That nuance is important.”
According to the report, total gross bookings are expected to reach $1.67 trillion in 2025, while travel and tourism is expected to generate more than $11.7 trillion toward global GDP. Digital adoption is also accelerating, with online bookings set to rise 8% to $1.07 trillion in 2025. Online travel agencies (OTAs) are projected to maintain a solid portion of global online spend and generate $408 billion in bookings.
The report further notes that AI is an increasingly important planning tool, with 58% of active U.S. travelers using the technology for something as of late 2025, while 39% use it specifically for travel research or planning. Phocuswright pointed out that millennials are driving the shift and “signaling a fundamental transition” in travel planning and decision making.
“Our role as researchers is to surface these changes clearly and objectively so the industry can make smarter decisions,” said David Juman, Phocuswright’s vice president of editorial & market sizing. “Bringing all of our strongest data and analysis together and making it accessible to everyone is one of the most impactful ways we can help the businesses that shape travel’s future.”
Phocuswright analysts will host a webinar to discuss report findings on January 15, 2026.
PhocusWire global trend coverage
PhocusWire continues to follow and report on the ongoing trends revealed by Phocuswright, including growth in Asia, AI developments and OTA presence. See below for recent coverage.
Growth in Asia
OTAs' global growth
AI trip planning