The Global Luxury Travel Market size is expected to grow from USD 1.57 billion in 2022 to USD 3.29 billion by 2030, at a CAGR of 9.7% during the forecast period (2023-2030).
A luxurious vacation offers a special, one-of-a-kind experience and more individualized care. Comfort, quality, and a stress-free vacation without hurriedness or routine are offered by luxury travel. the expanding popularity of trekking, adventure, and safari tours, which is driving up demand for premium travel. Because luxury travel lessens the stress of a busy lifestyle, it enhances both mental and physical well-being. People's lives are so hectic that they require pauses for both their physical and emotional well-being. As a result, people can travel to the intended locations for enjoyment and leisure.
Top Key Players Covered In Luxury Travel Market
Abercrombie & Kent USA, LLC. (USA), Cox & Kings Ltd. (India), Butterfield & Robinson Inc. (Canada), Scott Dunn Ltd. (UK), Kensington Tours Ltd. (US), Micato Safaris (India), Thomas Cook Ltd. (India), Meredith Corporation, LLC (US), Travcoa Corporation (California), TUI AG, (Germany), and other major players.
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The global Luxury Travel market research investigates the market in-depth and offers a comprehensive analysis of the major growth determinants, Luxury Travel market share, current trends, key players, and their future predictions. In addition, market demand and supply, each geographical region's growth rate, and market potential are all included in the Luxury Travel Market study. Raw materials, marketing channels, client surveys, industry trends and proposals, CAGR status, product scope, Luxury Travel market trends, major leading countries/regions, market risk, and market driving force are all included in the market research. The market prediction was based on a thorough market investigation completed by several industry experts.
Segmentation Analysis of Luxury Travel Market
By Type of Tours, adventure & safari are expected to have dominated the luxury travel market during the forecast period. The tourism company provides adventure and safari activities that contain zoo-like commercial drive-in tourism attractions where travelers can drive their vehicle or the company’s provided vehicle to freely observe roaming animals. In the new generation, there is a trend of watching roaming wild animals in their natural environment.
By Age Group, baby boomers are anticipated to have the highest market share in the luxury travel market in the analysis time. This age group has sufficient time, and budget to travel and visit several destination places.
By Type Of Tour
- Adventure & Safari
- Customized & Private
- Celebration & Special Events
- Cruise/Ship Expedition, Others
By Age Group
- Millennial
- Generation X
- Baby Boomers
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Covid-19 Impact Analysis On Luxury Travel Market
Since its launch in December 2019 in Wuhan, China, COVID-19 has spread quickly throughout the world. As far as confirmed cases and reported fatalities go, the countries most affected are the US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain. Numerous countries have experienced disruptions to their businesses and sectors due to COVID-19 lockdowns and business closures. In an attempt to stop the coronavirus from spreading, the governments of several nations have put travel restrictions in place.
By Region
- North America (US, Canada, Mexico)
- Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
- Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
- Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
- Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
- South America (Brazil, Argentina, Rest of SA)
𝐑𝐞𝐩𝐨𝐫𝐭 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐑𝐞𝐚𝐬𝐨𝐧𝐬:
- a qualitative and quantitative study based on segmentation that includes both economic and non-economic factors
- Data on value for each section and sub-segment
- Indicates the region and segment that is likely to expand the fastest and dominate the.
- The consumption of the product/service in each region is highlighted, as are the factors affecting the within each region.
- The competitive landscape includes the top players' rankings, as well as new service/product launches, collaborations, company expansions, and acquisitions made by the companies profiled in the last few years.
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