Published Date: Mar, 2021 | 186 Pages | Report ID: MRU_116603
Luxury Travel Market Growth By Regional Analysis (America, Europe, Asia Pacific, and Middle East & Africa) Growth Opportunity and Industry Forecast 2023-2030 (Recession Impact Analysis)
ID : MRU_
116603 | Date :
Feb, 2023 | Pages :
186 | Region : Global |
Publisher : Ri research
The report offers detailed coverage of Luxury Travel industry and main market trends. The market research includes historical and forecast market data, demand, application details, price trends, and company shares of the leading Luxury Travel by geography. The report splits the market size, by volume and value, on the basis of application type and geography.
Luxury travel today is defined less by thread count and Michelin stars and more by access to the people, places and experiences that represent all that is authentic about a destination. There\'s no denying that comfort factors still apply and high standards of accommodation and dining will always feature on the luxury traveller\'s wish list. However, today\'s luxury traveller seeks more depth of understanding and immersion into local culture than ever before. People don\'t just want to see – they want to participate. The sales process is also critical and whilst the online proposition can be an asset in terms of booking more simple arrangements, clients looking for luxury experiential travel require a deep level of sophisticated knowledge and confidence during the sales process.
Growing inclination of people towards unique and exotic holiday experiences, rise in middle and upper middle class spending and the increasing impact of social media on travel industry are the key factors that drive the market growth. Emerging new destinations coupled with rising service standards in the travel industry, is anticipated to further drive the demand for luxury travel, globally.
The Small Group Journey segment accounted for about 44% of the overall luxury travel market revenue, by tour type in 2015, as this is identified as the most popular vacation option among young and middle age group travelers. In addition, Customized and Private Vacation aimed at culinary and shopping, would witness the fastest growth, registering a CAGR of 9.1% during the forecast period. An increasing number of luxury travelers are indulging in these tours as they enable these travelers to experience the finest local delicacies and also buy some of the most exquisite handicrafts. These trips are getting popular among travelers of all age groups, especially the millennials (21 - 30 years). In 2015, approximately 45% of millennials took a trip based on culinary interest.
The report forecast global Luxury Travel market to grow to reach xxx Million USD in 2023 with a CAGR of xx% during the period 2023-2030.
First, this report covers the present status and the future prospects of the global Luxury Travel market for 2018-2030.
And in this report, we analyze global market from 5 geographies: Asia-Pacific[China, Southeast Asia, India, Japan, Korea, Western Asia], Europe[Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland], North America[United States, Canada, Mexico], Middle East & Africa[GCC, North Africa, South Africa], South America[Brazil, Argentina, Columbia, Chile, Peru].
Key Companies
TUI Group
Thomas Cook Group
Jet2 Holidays
Cox & Kings Ltd
Lindblad Expeditions
Travcoa
Scott Dunn
Abercrombie & Kent Ltd
Micato Safaris
Tauck
Al Tayyar
Backroads
Zicasso
Exodus Travels
Butterfield & Robinson
At the same time, we classify Luxury Travel according to the type, application by geography. More importantly, the report includes major countries market based on the type and application.
Market Segment as follows: Market by Order Type
Customized and Private Vacation
Adventure and Safari
Small Group Journey
Celebration and Special Event
Others Market by Application
Millennial
Generation X
Baby Boomers
By Region
Asia-Pacific[China, Southeast Asia, India, Japan, Korea, Western Asia]
Europe[Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland]
North America[United States, Canada, Mexico]
Middle East & Africa[GCC, North Africa, South Africa]
South America[Brazil, Argentina, Columbia, Chile, Peru]
The research provides answers to the following key questions:
• What is the estimated growth rate and market share and size of the Luxury Travel market for the forecast period 2023 - 2030?
• What are the driving forces in the Luxury Travel market for the forecast period 2023 - 2030?
• Who are the prominent market players and how have they gained a competitive edge over other competitors?
• What are the market trends influencing the progress of the Luxury Travel industry worldwide?
• What are the major challenges and threats restricting the progress of the industry?
• What opportunities does the market hold for the prominent market players?
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