Personalized Travel and Experiences Market Report 2024

This Personalized Travel And Experiences market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The personalized travel and experiences market size has grown rapidly in recent years. It will grow from $123.53 billion in 2023 to $144.45 billion in 2024 at a compound annual growth rate (CAGR) of 16.9%. The historical growth can be attributed to several factors, the increasing popularity of online travel bookings, a rising demand for unique and exotic holiday experiences, the emergence of new travel destinations worldwide, growing disposable income, and an increase in international tourist arrivals.

The personalized travel and experiences market size is expected to see rapid growth in the next few years. It will grow to $271.48 billion in 2028 at a compound annual growth rate (CAGR) of 17.1%. The anticipated growth during the forecast period is driven by several factors, a significant expansion in loyalty programs, heightened emphasis on health and safety, growing interest in experiential travel, the rising influence of social media, and increased personalization in hospitality. Key trends expected include technology integration, tailored travel packages, AI-driven recommendations, virtual travel planning, and customized group travel.

The growth of the personalized travel and experience market is expected to be fueled by the increase in international tourist arrivals. International tourist arrivals refer to the number of foreign visitors coming to a country for leisure, business, or other reasons, staying at least one night. Improved travel accessibility, advancements in technology, and better transportation options have made travel more convenient and affordable. Personalized travel experiences contribute to the growth of international tourist arrivals by catering to individual preferences and interests, resulting in memorable trips that encourage exploration of new destinations. For example, the International Trade Administration reported in February 2024 that the number of international visitors to the United States is projected to reach 77.7 million in 2024, marking an increase of 10.4 million, or 15.4%, from the 67.3 million visitors in 2023. This growth in international tourist arrivals is driving the expansion of the personalized travel and experience market.

Companies in the personalized travel and experiences market are developing AI-based personalized travel guides to enhance customer experiences and offer customized travel recommendations. These AI-powered travel guides use artificial intelligence to tailor suggestions based on individual preferences. For instance, in September 2023, SmartGuide, a digital audio guide platform based in the Czech Republic, introduced SmartGuide AI. This technology turns a traveler’s phone into a personalized guide, recommending destinations and activities according to personal preferences. The AI model, developed by SmartGuide, analyzes user interactions and content to create customized profiles, providing tailored recommendations on the home screen, within destinations, and in search results.

In September 2022, TripAdd, a US-based ancillary service provider, acquired Eddy Travels for an undisclosed amount. This acquisition allows TripAdd to offer its partners access to a broad range of value-added services with real-time intelligence, enhancing the overall travel experience within its network. Eddy Travels, a Lithuania-based company, specializes in delivering personalized travel suggestions through an AI travel assistant.

Major companies operating in the personalized travel and experiences market are Delta Air Lines Inc., Carnival Corporation, Koninklijke Luchtvaart Maatschappij N.V. (KLM), Expedia Group Inc., Airbnb Inc., easyJet plc, Best Western International Inc., Abercrombie & Kent Ltd., Kensington Tours Ltd., Virgin Hotels Group Limited, EXO Travel Co Ltd., Butterfield & Robinson Inc., Jacada Travel Ltd, Geographic Expeditions Inc. (GeoEx), Authentic Vacations, Black Tomato Ltd., Artisans of Leisure, Classic Journeys LLC, Cox & Kings Limited, Elevation Travel & Tours Inc.

Asia-Pacific was the largest region in the personalized travel and experiences market in 2023. The regions covered in the personalized travel and experiences market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the personalized travel and experiences market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Personalized travel and experiences involve tailoring travel plans and activities to fit an individual's unique preferences and interests, resulting in a customized and memorable journey. This approach uses data analytics, artificial intelligence (AI), and customer feedback to craft unique travel experiences that enhance the overall journey.

Key service types in personalized travel and experiences include in-flight personalization, cruise line personalization, adventure travel, in-hotel personalization, and others. In-flight personalization pertains to customized services and experiences offered to passengers during their flight. This service is available to various age groups, including millennials, Generation X, and baby boomers, and caters to different needs such as leisure and business travel, through both online travel agency (OTA) platforms and offline methods.

The personalized travel and experiences market research report is one of a series of new reports that provides personalized travel and experiences market statistics, including personalized travel and experiences industry global market size, regional shares, competitors with a personalized travel and experiences market share, detailed personalized travel and experiences market segments, market trends and opportunities, and any further data you may need to thrive in the personalized travel and experiences industry. This personalized travel and experiences market research report delivers a complete perspective on everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The personalized travel and experiences market includes revenues earned by entities by providing services such as customized itineraries, tailored accommodation, exclusive activities, personalized customer support, and bespoke dining options. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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