Global Gift Cards Market Size Will Reach $458.13 Billion in 2024

Global Gift Cards Market Overview

According to Global Market Monitor, the global gift cards market size will reach $458.13 billion in 2024 and is expected to grow to $753.26 billion by 2029.

A gift card is a stored value card that is usually issued by a retailer or bank. Gift cards issued by retailers and marketers are also part of a promotional strategy to attract recipients to come in or return to the store. These cards are usually only available at the relevant retail outlets, and these cannot be redeemed.

The Rapid Development of Tourism Drives Market Growth.

Nowadays, with the in-depth development of economic globalization and world economic integration, the world tourism industry has entered a golden age of rapid development. This is mainly due to the rapid economic growth of various countries and the steadily increasing national income associated with them, which enables people to pay for expensive travel expenses. For example, in Europe, middle-income families can easily travel to Asia and Africa. It has become a habit for some families in European and American countries to travel abroad every year. At the same time, the dramatic increase in labor productivity and the continuous improvement of people's livelihood conditions have allowed people to have a lot of leisure time for travel. Countries such as Europe, Germany, Finland, France, Denmark and other countries have paid holidays of more than 25 days. Therefore, the rapid development of the tourism industry makes people increase the number of times traveling.

Market Opportunities and Drivers

One of the most important factors driving market growth is the growing demand for gift cards in the commercial industry. In recognition of the employee's contribution to the company, the company is giving a gift card to employees. This trend has become very common at present, which has greatly promoted the growth of the market. Another prominent factor supporting market growth is the arrival of e-commerce. Websites such as Zara, Alibaba, eBay, and Flipkart offer gift cards to customers. With the increasing popularity of the Internet and smartphones, the location of individuals entering e-commerce portals is stronger than ever, a complement to the rise of the gift card market.

Gift cards are the most desirable gift for consumers during festivals and other celebrations, as gift cards give recipients the freedom to buy what they want. For the hotel gift card industry, the corporate sector's demand for hotel gift cards continues to increase. In recent years, to commend employees for their contributions to the company, the company has given them gift cards. The need for companies to commend employees has promoted the cooperation between companies and various hotels. Therefore, various hotels and third parties provide hotel gift cards for enterprises. This has increased the sales of hotel gift cards. At present, the hotel gift card market in B2B sales channels is showing a growing trend. Therefore, the large use of hotel gift cards by the corporate sector is one of the main factors driving the growth of the global hotel gift card market.

Drivers	The growth of tourism and the rise of people’s leisure activities
	Increased demand for corporate hotel gift cards
	The main advantages of hotel gift cards
Limitations	Competitive risks of large companies
	Security challenge