A new report says travel spending has surpassed $1 billion in 2016.
The report, released by travel consultancy Travel Research Group, said the trend is being driven by increased travel choices and consumer demand.
“The global travel market is undergoing a renaissance as travelers increasingly choose to travel on their own terms,” Travel Research said in a statement.
The survey also found that the average cost of a flight in the United States rose 4 per cent to $8,958 last year.
Australia was the only country where travel spending grew in 2016, with the average price of a ticket rising 4.1 per cent, to $6,869.
It is the first year Travel Research has been tracking travel spending.
In addition, the average spending by travellers increased in the past 12 months to $3,717, up from $2,724 in 2015.
Travel spending in Europe, South America and Asia increased from $1,800 in 2015 to $2.6 million last year, the study said.
With a rising number of travellers, more people are travelling than ever before, the report said.
“This growth in travel has been driven by increasing travel choices, consumer demand and a renewed focus on affordability,” Travel Advisory said in the report.
More people are getting on board, and that is creating a demand for travel and travel-related services.
“The growing appetite for travel is driving demand for services like airline tickets, hotels, accommodation and travel management,” it said.