Leisure industry is the segment of business focused on recreation, entertainment, sports, and tourism (REST)-related products and services.
The global leisure and entertainment industry reached revenues of $1.9 trillion in 2016. With the leisure and entertainment revenues set to grow at an annual rate of 4.2%, the industry is forecasted to be worth $2.2 trillion by 2021.
The travel and leisure industry comprises of several industries that make up its network. These industries include art and attractions, exhibitions and dining, travel music and leisure activities, gambling, sports activities, lodging options and vacation destinations apart from companies that offer various forms of recreation and leisure. The travel and leisure industry is supported mainly because the general public places utmost importance upon taking annual vacations for the purposes of relaxation or education. Overall the travel and leisure industry can be summed up into four main sectors: entertainment, tourism, travel and recreation.
Entertainment consists of any activity that provides the general public with pleasure and relaxation during leisure time. Some of these activities include watching television, drama and stage performance, opera, attending theater, attending sports event and playing variety of board games or video games.
The recreation activities are intended at therapy that provides mental, emotional and physical well-being of the mind and body. Some of the recreational activities include writing, art, yoga, attending restaurants, trips to amusement parks however there are other latest forms that include adventure tourism, motor sports and extreme events such as bungee jumping, skies diving and underwater diving in deep seas have emerged in this realm as well. The tourism sector consists of travel and our agencies that manage, plan and facilitate the travel completely. Tour agencies are often used by the public to book trips and vacations and as such ensure a smooth travel. There are many types of travel forms for those travelling on trips and vacations including air, sea, and road and as well as rail. Cruises are popular for travel and leisure industry as are a variety of destination resorts worldwide.
The general entertainment industry is formed by a variety of sub-groups that create and uphold the groundwork for the general entertainment industry at large. Exhibition entertainment includes amusement parks, trade shows, and/or fairs. Mass media is made up of film, the internet, and broadcasting, amongst others. Electronic entertainment is mainly composed of video games. E-books and web based entertainment is becoming popular as well and the general public is able to watch movies and shows online itself. Radio and digital downloads are readily available online as well. Companies and sub-industries are constantly in competition with each other for viewership, subscriptions, and sales are another sub-section of general entertainment.
Leisure is the times spend away from ones regular schedule be it works, business or domestic chores. Time for leisure varies from one society to the next.