The global luxury travel market is projected to reach $1,650,447.7 million by 2031, growing at a CAGR of 8.9%, from 2022 to 2031. Luxury travel market epitomizes most desirable destinations, luxurious accommodations, convenient transport facilities, and authentic travel experience. Luxury travel aims to offer exotic experience to its travelers. Private jet planes, spas, special menus, private island rentals, and private yacht are some of the unique services offered to the luxury travelers. Travelers, nowadays, love to experiment with destinations to gain deeper experience and absorb new cultures worldwide. To gain a valuable and unforgettable experience, people increasingly opt for unique trips which include cultural visit, cruising, and adventure activities. People spend large amount of money on luxury travel to avail the highest level of comfort and exclusive individual services. Europe and North America are the most preferred destinations for luxury travel.
Growth in inclination of people toward unique and exotic holiday experiences, rise in the middle & upper class expenditure, and growth in interest of people to spend more time with family are some of the factors that propel the growth of the luxury travel market. People opt for unique abroad holiday, cruising, and adventure trips for valuable experiences. Business travel has also evolved over the time and people tend to travel lavishly for business trips. Fluctuating economies in many regions act as a threat for the growth of the luxury travel market.
The luxury travel market is segmented on the basis of types of tours, age group, type of traveler, and region. Based on types of tours, the market is bifurcated into customized and private vacations, adventure and safari, cruise/ship expedition, small group journey, celebration and special event, and culinary travel and shopping. Age groups of luxury travel market are millennial (21-30), generation x (31-40), baby boomers (41-60), and silver hair (60 and above). Luxury travel market is further bifurcated into types of traveler as absolute luxury, aspiring luxury, and accessible luxury. Geographically, the global luxury travel market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, Spain, Italy, and Rest of Europe), Asia-Pacific (China, Singapore, India, and Rest of Asia-Pacific), and LAMEA (Middle East, Latin America, and Africa).
Although the key developed countries such as the U.S. and Italy hold a higher share of the luxury travel market, there has been a rise in demand for international luxury travel in the developing countries such as China and India. The drift is due to the increase in the per capita income of middle class travelers in the developing countries. The key players profiled in this report include Abercrombie & Kent Ltd, Cox and Kings Ltd, TUI group, Micato Safaris, Ker and Downey, Tauck, Thomas Cook Group, Scott Dunn Ltd, Kensington Tours, and Butterfield & Robinson Inc.
Growth in inclination of people toward unique and exotic holiday experiences, rise in the middle & upper class expenditure, and growth in interest of people to spend more time with family are some of the factors that propel the growth of the luxury travel market. People opt for unique abroad holiday, cruising, and adventure trips for valuable experiences. Business travel has also evolved over the time and people tend to travel lavishly for business trips. Fluctuating economies in many regions act as a threat for the growth of the luxury travel market.
The luxury travel market is segmented on the basis of types of tours, age group, type of traveler, and region. Based on types of tours, the market is bifurcated into customized and private vacations, adventure and safari, cruise/ship expedition, small group journey, celebration and special event, and culinary travel and shopping. Age groups of luxury travel market are millennial (21-30), generation x (31-40), baby boomers (41-60), and silver hair (60 and above). Luxury travel market is further bifurcated into types of traveler as absolute luxury, aspiring luxury, and accessible luxury. Geographically, the global luxury travel market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, Spain, Italy, and Rest of Europe), Asia-Pacific (China, Singapore, India, and Rest of Asia-Pacific), and LAMEA (Middle East, Latin America, and Africa).
Although the key developed countries such as the U.S. and Italy hold a higher share of the luxury travel market, there has been a rise in demand for international luxury travel in the developing countries such as China and India. The drift is due to the increase in the per capita income of middle class travelers in the developing countries. The key players profiled in this report include Abercrombie & Kent Ltd, Cox and Kings Ltd, TUI group, Micato Safaris, Ker and Downey, Tauck, Thomas Cook Group, Scott Dunn Ltd, Kensington Tours, and Butterfield & Robinson Inc.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the luxury travel market analysis from 2021 to 2031 to identify the prevailing luxury travel market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's Five Forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the luxury travel market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global luxury travel market trends, key players, market segments, application areas, and market growth Strategies.
Key Market Segments
By Types of Tour
- Customized and private vacations
- Adventure and safari
- Cruise/ship expedition
- Small group journey
- Celebration and special events
- Culinary travel and shopping
By Age Group
- Millennial
- Generation X
- Baby Boomer
- Silver hair
By Types of Traveler
- Absolute luxury
- Aspiring Luxury
- Accessible Luxury
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- India
- Singapore
- Rest of Asia-Pacific
- LAMEA
- Middle East
- Latin America
- Africa
Key Market Players
- Thomas Cook India Ltd.
- Scott Dunn Ltd.
- TUI Group
- Zicasso, Inc.
- Micato Safaris
- Butterfield & Robinson Inc.
- Travelopia Holdings Limited
- Kensington Tours
- Tauck, Inc.
- Abercrombie & Kent USA, LLC
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Table of Contents
CHAPTER 1: INTRODUCTION1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research Methodology
1.4.1. Primary research
1.4.2. Secondary research
1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. CXO Perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top impacting factors
3.2.2. Top investment pockets
3.3. Porter’s five forces analysis
3.4. Market dynamics
3.4.1. Drivers
3.4.2. Restraints
3.4.3. Opportunities
3.5. COVID-19 Impact Analysis on the market
CHAPTER 4: LUXURY TRAVEL MARKET, BY TYPES OF TOUR
4.1. Overview
4.1.1. Market size and forecast
4.2. Customized and private vacations
4.2.1. Key market trends, growth factors and opportunities
4.2.2. Market size and forecast, by region
4.2.3. Market share analysis by country
4.3. Adventure and safari
4.3.1. Key market trends, growth factors and opportunities
4.3.2. Market size and forecast, by region
4.3.3. Market share analysis by country
4.4. Cruise/ship expedition
4.4.1. Key market trends, growth factors and opportunities
4.4.2. Market size and forecast, by region
4.4.3. Market share analysis by country
4.5. Small group journey
4.5.1. Key market trends, growth factors and opportunities
4.5.2. Market size and forecast, by region
4.5.3. Market share analysis by country
4.6. Celebration and special events
4.6.1. Key market trends, growth factors and opportunities
4.6.2. Market size and forecast, by region
4.6.3. Market share analysis by country
4.7. Culinary travel and shopping
4.7.1. Key market trends, growth factors and opportunities
4.7.2. Market size and forecast, by region
4.7.3. Market share analysis by country
CHAPTER 5: LUXURY TRAVEL MARKET, BY AGE GROUP
5.1. Overview
5.1.1. Market size and forecast
5.2. Millennial
5.2.1. Key market trends, growth factors and opportunities
5.2.2. Market size and forecast, by region
5.2.3. Market share analysis by country
5.3. Generation X
5.3.1. Key market trends, growth factors and opportunities
5.3.2. Market size and forecast, by region
5.3.3. Market share analysis by country
5.4. Baby Boomer
5.4.1. Key market trends, growth factors and opportunities
5.4.2. Market size and forecast, by region
5.4.3. Market share analysis by country
5.5. Silver hair
5.5.1. Key market trends, growth factors and opportunities
5.5.2. Market size and forecast, by region
5.5.3. Market share analysis by country
CHAPTER 6: LUXURY TRAVEL MARKET, BY TYPES OF TRAVELER
6.1. Overview
6.1.1. Market size and forecast
6.2. Absolute luxury
6.2.1. Key market trends, growth factors and opportunities
6.2.2. Market size and forecast, by region
6.2.3. Market share analysis by country
6.3. Aspiring Luxury
6.3.1. Key market trends, growth factors and opportunities
6.3.2. Market size and forecast, by region
6.3.3. Market share analysis by country
6.4. Accessible Luxury
6.4.1. Key market trends, growth factors and opportunities
6.4.2. Market size and forecast, by region
6.4.3. Market share analysis by country
CHAPTER 7: LUXURY TRAVEL MARKET, BY REGION
7.1. Overview
7.1.1. Market size and forecast By Region
7.2. North America
7.2.1. Key trends and opportunities
7.2.2. Market size and forecast, by Types of Tour
7.2.3. Market size and forecast, by Age Group
7.2.4. Market size and forecast, by Types of Traveler
7.2.5. Market size and forecast, by country
7.2.5.1. U.S.
7.2.5.1.1. Key market trends, growth factors and opportunities
7.2.5.1.2. Market size and forecast, by Types of Tour
7.2.5.1.3. Market size and forecast, by Age Group
7.2.5.1.4. Market size and forecast, by Types of Traveler
7.2.5.2. Canada
7.2.5.2.1. Key market trends, growth factors and opportunities
7.2.5.2.2. Market size and forecast, by Types of Tour
7.2.5.2.3. Market size and forecast, by Age Group
7.2.5.2.4. Market size and forecast, by Types of Traveler
7.2.5.3. Mexico
7.2.5.3.1. Key market trends, growth factors and opportunities
7.2.5.3.2. Market size and forecast, by Types of Tour
7.2.5.3.3. Market size and forecast, by Age Group
7.2.5.3.4. Market size and forecast, by Types of Traveler
7.3. Europe
7.3.1. Key trends and opportunities
7.3.2. Market size and forecast, by Types of Tour
7.3.3. Market size and forecast, by Age Group
7.3.4. Market size and forecast, by Types of Traveler
7.3.5. Market size and forecast, by country
7.3.5.1. Germany
7.3.5.1.1. Key market trends, growth factors and opportunities
7.3.5.1.2. Market size and forecast, by Types of Tour
7.3.5.1.3. Market size and forecast, by Age Group
7.3.5.1.4. Market size and forecast, by Types of Traveler
7.3.5.2. France
7.3.5.2.1. Key market trends, growth factors and opportunities
7.3.5.2.2. Market size and forecast, by Types of Tour
7.3.5.2.3. Market size and forecast, by Age Group
7.3.5.2.4. Market size and forecast, by Types of Traveler
7.3.5.3. Spain
7.3.5.3.1. Key market trends, growth factors and opportunities
7.3.5.3.2. Market size and forecast, by Types of Tour
7.3.5.3.3. Market size and forecast, by Age Group
7.3.5.3.4. Market size and forecast, by Types of Traveler
7.3.5.4. Italy
7.3.5.4.1. Key market trends, growth factors and opportunities
7.3.5.4.2. Market size and forecast, by Types of Tour
7.3.5.4.3. Market size and forecast, by Age Group
7.3.5.4.4. Market size and forecast, by Types of Traveler
7.3.5.5. Rest of Europe
7.3.5.5.1. Key market trends, growth factors and opportunities
7.3.5.5.2. Market size and forecast, by Types of Tour
7.3.5.5.3. Market size and forecast, by Age Group
7.3.5.5.4. Market size and forecast, by Types of Traveler
7.4. Asia-Pacific
7.4.1. Key trends and opportunities
7.4.2. Market size and forecast, by Types of Tour
7.4.3. Market size and forecast, by Age Group
7.4.4. Market size and forecast, by Types of Traveler
7.4.5. Market size and forecast, by country
7.4.5.1. China
7.4.5.1.1. Key market trends, growth factors and opportunities
7.4.5.1.2. Market size and forecast, by Types of Tour
7.4.5.1.3. Market size and forecast, by Age Group
7.4.5.1.4. Market size and forecast, by Types of Traveler
7.4.5.2. India
7.4.5.2.1. Key market trends, growth factors and opportunities
7.4.5.2.2. Market size and forecast, by Types of Tour
7.4.5.2.3. Market size and forecast, by Age Group
7.4.5.2.4. Market size and forecast, by Types of Traveler
7.4.5.3. Singapore
7.4.5.3.1. Key market trends, growth factors and opportunities
7.4.5.3.2. Market size and forecast, by Types of Tour
7.4.5.3.3. Market size and forecast, by Age Group
7.4.5.3.4. Market size and forecast, by Types of Traveler
7.4.5.4. Rest of Asia-Pacific
7.4.5.4.1. Key market trends, growth factors and opportunities
7.4.5.4.2. Market size and forecast, by Types of Tour
7.4.5.4.3. Market size and forecast, by Age Group
7.4.5.4.4. Market size and forecast, by Types of Traveler
7.5. LAMEA
7.5.1. Key trends and opportunities
7.5.2. Market size and forecast, by Types of Tour
7.5.3. Market size and forecast, by Age Group
7.5.4. Market size and forecast, by Types of Traveler
7.5.5. Market size and forecast, by country
7.5.5.1. Middle East
7.5.5.1.1. Key market trends, growth factors and opportunities
7.5.5.1.2. Market size and forecast, by Types of Tour
7.5.5.1.3. Market size and forecast, by Age Group
7.5.5.1.4. Market size and forecast, by Types of Traveler
7.5.5.2. Latin America
7.5.5.2.1. Key market trends, growth factors and opportunities
7.5.5.2.2. Market size and forecast, by Types of Tour
7.5.5.2.3. Market size and forecast, by Age Group
7.5.5.2.4. Market size and forecast, by Types of Traveler
7.5.5.3. Africa
7.5.5.3.1. Key market trends, growth factors and opportunities
7.5.5.3.2. Market size and forecast, by Types of Tour
7.5.5.3.3. Market size and forecast, by Age Group
7.5.5.3.4. Market size and forecast, by Types of Traveler
CHAPTER 8: COMPETITIVE LANDSCAPE
8.1. Introduction
8.2. Top winning Strategies
8.3. Product Mapping of Top 10 Player
8.4. Competitive Dashboard
8.5. Competitive Heatmap
8.6. Top player positioning, 2021
CHAPTER 9: COMPANY PROFILES
9.1. Abercrombie & Kent USA, LLC
9.1.1. Company overview
9.1.2. Key Executives
9.1.3. Company snapshot
9.1.4. Operating business segments
9.1.5. Product portfolio
9.1.6. Key strategic moves and developments
9.2. Micato Safaris
9.2.1. Company overview
9.2.2. Key Executives
9.2.3. Company snapshot
9.2.4. Operating business segments
9.2.5. Product portfolio
9.3. Tauck, Inc.
9.3.1. Company overview
9.3.2. Key Executives
9.3.3. Company snapshot
9.3.4. Operating business segments
9.3.5. Product portfolio
9.4. Thomas Cook India Ltd.
9.4.1. Company overview
9.4.2. Key Executives
9.4.3. Company snapshot
9.4.4. Operating business segments
9.4.5. Product portfolio
9.4.6. Business performance
9.4.7. Key strategic moves and developments
9.5. Scott Dunn Ltd.
9.5.1. Company overview
9.5.2. Key Executives
9.5.3. Company snapshot
9.5.4. Operating business segments
9.5.5. Product portfolio
9.6. Kensington Tours
9.6.1. Company overview
9.6.2. Key Executives
9.6.3. Company snapshot
9.6.4. Operating business segments
9.6.5. Product portfolio
9.6.6. Key strategic moves and developments
9.7. Butterfield & Robinson Inc.
9.7.1. Company overview
9.7.2. Key Executives
9.7.3. Company snapshot
9.7.4. Operating business segments
9.7.5. Product portfolio
9.8. TUI Group
9.8.1. Company overview
9.8.2. Key Executives
9.8.3. Company snapshot
9.8.4. Operating business segments
9.8.5. Product portfolio
9.8.6. Business performance
9.8.7. Key strategic moves and developments
9.9. Zicasso, Inc.
9.9.1. Company overview
9.9.2. Key Executives
9.9.3. Company snapshot
9.9.4. Operating business segments
9.9.5. Product portfolio
9.10. Travelopia Holdings Limited
9.10.1. Company overview
9.10.2. Key Executives
9.10.3. Company snapshot
9.10.4. Operating business segments
9.10.5. Product portfolio
List of Tables
Table 01. Global Luxury Travel Market, by Types of Tour, 2021-2031 (Revenue, $Million)
Table 02. Luxury Travel Market for Customized and Private Vacations, by Region, 2021-2031 (Revenue, $Million)
Table 03. Luxury Travel Market for Adventure and Safari, by Region, 2021-2031 (Revenue, $Million)
Table 04. Luxury Travel Market for Cruise/Ship Expedition, by Region, 2021-2031 (Revenue, $Million)
Table 05. Luxury Travel Market for Small Group Journey, by Region, 2021-2031 (Revenue, $Million)
Table 06. Luxury Travel Market for Celebration and Special Events, by Region, 2021-2031 (Revenue, $Million)
Table 07. Luxury Travel Market for Culinary Travel and Shopping, by Region, 2021-2031 (Revenue, $Million)
Table 08. Global Luxury Travel Market, by Age Group, 2021-2031 (Revenue, $Million)
Table 09. Luxury Travel Market for Millennial, by Region, 2021-2031 (Revenue, $Million)
Table 10. Luxury Travel Market for Generation X, by Region, 2021-2031 (Revenue, $Million)
Table 11. Luxury Travel Market for Baby Boomer, by Region, 2021-2031 (Revenue, $Million)
Table 12. Luxury Travel Market for Silver Hair, by Region, 2021-2031 (Revenue, $Million)
Table 13. Global Luxury Travel Market, by Types of Traveler, 2021-2031 (Revenue, $Million)
Table 14. Luxury Travel Market for Absolute Luxury, by Region, 2021-2031 (Revenue, $Million)
Table 15. Luxury Travel Market for Aspiring Luxury, by Region, 2021-2031 (Revenue, $Million)
Table 16. Luxury Travel Market for Accessible Luxury, by Region, 2021-2031 (Revenue, $Million)
Table 17. Luxury Travel Market, by Region, 2021-2031 (Revenue, $Million)
Table 18. North America Luxury Travel Market, by Types of Tour, 2021-2031 (Revenue, $Million)
Table 19. North America Luxury Travel Market, by Age Group, 2021-2031 (Revenue, $Million)
Table 20. North America Luxury Travel Market, by Types of Traveler, 2021-2031 (Revenue, $Million)
Table 21. North America Luxury Travel Market, by Country, 2021-2031 (Revenue, $Million)
Table 22. U.S. Luxury Travel Market, by Types of Tour, 2021-2031 (Revenue, $Million)
Table 23. U.S. Luxury Travel Market, by Age Group, 2021-2031 (Revenue, $Million)
Table 24. U.S. Luxury Travel Market, by Types of Traveler, 2021-2031 (Revenue, $Million)
Table 25. Canada Luxury Travel Market, by Types of Tour, 2021-2031 (Revenue, $Million)
Table 26. Canada Luxury Travel Market, by Age Group, 2021-2031 (Revenue, $Million)
Table 27. Canada Luxury Travel Market, by Types of Traveler, 2021-2031 (Revenue, $Million)
Table 28. Mexico Luxury Travel Market, by Types of Tour, 2021-2031 (Revenue, $Million)
Table 29. Mexico Luxury Travel Market, by Age Group, 2021-2031 (Revenue, $Million)
Table 30. Mexico Luxury Travel Market, by Types of Traveler, 2021-2031 (Revenue, $Million)
Table 31. Europe Luxury Travel Market, by Types of Tour, 2021-2031 (Revenue, $Million)
Table 32. Europe Luxury Travel Market, by Age Group, 2021-2031 (Revenue, $Million)
Table 33. Europe Luxury Travel Market, by Types of Traveler, 2021-2031 (Revenue, $Million)
Table 34. Europe Luxury Travel Market, by Country, 2021-2031 (Revenue, $Million)
Table 35. Germany Luxury Travel Market, by Types of Tour, 2021-2031 (Revenue, $Million)
Table 36. Germany Luxury Travel Market, by Age Group, 2021-2031 (Revenue, $Million)
Table 37. Germany Luxury Travel Market, by Types of Traveler, 2021-2031 (Revenue, $Million)
Table 38. France Luxury Travel Market, by Types of Tour, 2021-2031 (Revenue, $Million)
Table 39. France Luxury Travel Market, by Age Group, 2021-2031 (Revenue, $Million)
Table 40. France Luxury Travel Market, by Types of Traveler, 2021-2031 (Revenue, $Million)
Table 41. Spain Luxury Travel Market, by Types of Tour, 2021-2031 (Revenue, $Million)
Table 42. Spain Luxury Travel Market, by Age Group, 2021-2031 (Revenue, $Million)
Table 43. Spain Luxury Travel Market, by Types of Traveler, 2021-2031 (Revenue, $Million)
Table 44. Italy Luxury Travel Market, by Types of Tour, 2021-2031 (Revenue, $Million)
Table 45. Italy Luxury Travel Market, by Age Group, 2021-2031 (Revenue, $Million)
Table 46. Italy Luxury Travel Market, by Types of Traveler, 2021-2031 (Revenue, $Million)
Table 47. Rest of Europe Luxury Travel Market, by Types of Tour, 2021-2031 (Revenue, $Million)
Table 48. Rest of Europe Luxury Travel Market, by Age Group, 2021-2031 (Revenue, $Million)
Table 49. Rest of Europe Luxury Travel Market, by Types of Traveler, 2021-2031 (Revenue, $Million)
Table 50. Asia-Pacific Luxury Travel Market, by Types of Tour, 2021-2031 (Revenue, $Million)
Table 51. Asia-Pacific Luxury Travel Market, by Age Group, 2021-2031 (Revenue, $Million)
Table 52. Asia-Pacific Luxury Travel Market, by Types of Traveler, 2021-2031 (Revenue, $Million)
Table 53. Asia-Pacific Luxury Travel Market, by Country, 2021-2031 (Revenue, $Million)
Table 54. China Luxury Travel Market, by Types of Tour, 2021-2031 (Revenue, $Million)
Table 55. China Luxury Travel Market, by Age Group, 2021-2031 (Revenue, $Million)
Table 56. China Luxury Travel Market, by Types of Traveler, 2021-2031 (Revenue, $Million)
Table 57. India Luxury Travel Market, by Types of Tour, 2021-2031 (Revenue, $Million)
Table 58. India Luxury Travel Market, by Age Group, 2021-2031 (Revenue, $Million)
Table 59. India Luxury Travel Market, by Types of Traveler, 2021-2031 (Revenue, $Million)
Table 60. Singapore Luxury Travel Market, by Types of Tour, 2021-2031 (Revenue, $Million)
Table 61. Singapore Luxury Travel Market, by Age Group, 2021-2031 (Revenue, $Million)
Table 62. Singapore Luxury Travel Market, by Types of Traveler, 2021-2031 (Revenue, $Million)
Table 63. Rest of Asia-Pacific Luxury Travel Market, by Types of Tour, 2021-2031 (Revenue, $Million)
Table 64. Rest of Asia-Pacific Luxury Travel Market, by Age Group, 2021-2031 (Revenue, $Million)
Table 65. Rest of Asia-Pacific Luxury Travel Market, by Types of Traveler, 2021-2031 (Revenue, $Million)
Table 66. LAMEA Luxury Travel Market, by Types of Tour, 2021-2031 (Revenue, $Million)
Table 67. LAMEA Luxury Travel Market, by Age Group, 2021-2031 (Revenue, $Million)
Table 68. LAMEA Luxury Travel Market, by Types of Traveler, 2021-2031 (Revenue, $Million)
Table 69. LAMEA Luxury Travel Market, by Country, 2021-2031 (Revenue, $Million)
Table 70. Middle East Luxury Travel Market, by Types of Tour, 2021-2031 (Revenue, $Million)
Table 71. Middle East Luxury Travel Market, by Age Group, 2021-2031 (Revenue, $Million)
Table 72. Middle East Luxury Travel Market, by Types of Traveler, 2021-2031 (Revenue, $Million)
Table 73. Latin America Luxury Travel Market, by Types of Tour, 2021-2031 (Revenue, $Million)
Table 74. Latin America Luxury Travel Market, by Age Group, 2021-2031 (Revenue, $Million)
Table 75. Latin America Luxury Travel Market, by Types of Traveler, 2021-2031 (Revenue, $Million)
Table 76. Africa Luxury Travel Market, by Types of Tour, 2021-2031 (Revenue, $Million)
Table 77. Africa Luxury Travel Market, by Age Group, 2021-2031 (Revenue, $Million)
Table 78. Africa Luxury Travel Market, by Types of Traveler, 2021-2031 (Revenue, $Million)
Table 79. Abercrombie & Kent Usa, LLC: Key Executives
Table 80. Abercrombie & Kent Usa, LLC: Company Snapshot
Table 81. Abercrombie & Kent Usa, LLC: Service Segments
Table 82. Abercrombie & Kent Usa, LLC: Product Portfolio
Table 83. Abercrombie & Kent Usa, LLC: Key Strategies
Table 84. Micato Safaris: Key Executives
Table 85. Micato Safaris: Company Snapshot
Table 86. Micato Safaris: Service Segments
Table 87. Micato Safaris: Product Portfolio
Table 88. Tauck, Inc.: Key Executives
Table 89. Tauck, Inc.: Company Snapshot
Table 90. Tauck, Inc.: Service Segments
Table 91. Tauck, Inc.: Product Portfolio
Table 92. Thomas Cook India Ltd.: Key Executives
Table 93. Thomas Cook India Ltd.: Company Snapshot
Table 94. Thomas Cook India Ltd.: Service Segments
Table 95. Thomas Cook India Ltd.: Product Portfolio
Table 96. Thomas Cook India Ltd.: Key Strategies
Table 97. Scott Dunn Ltd.: Key Executives
Table 98. Scott Dunn Ltd.: Company Snapshot
Table 99. Scott Dunn Ltd.: Service Segments
Table 100. Scott Dunn Ltd.: Product Portfolio
Table 101. Kensington Tours: Key Executives
Table 102. Kensington Tours: Company Snapshot
Table 103. Kensington Tours: Service Segments
Table 104. Kensington Tours: Product Portfolio
Table 105. Kensington Tours: Key Strategies
Table 106. Butterfield & Robinson Inc.: Key Executives
Table 107. Butterfield & Robinson Inc.: Company Snapshot
Table 108. Butterfield & Robinson Inc.: Service Segments
Table 109. Butterfield & Robinson Inc.: Product Portfolio
Table 110. Tui Group: Key Executives
Table 111. Tui Group: Company Snapshot
Table 112. Tui Group: Service Segments
Table 113. Tui Group: Product Portfolio
Table 114. Tui Group: Key Strategies
Table 115. Zicasso, Inc.: Key Executives
Table 116. Zicasso, Inc.: Company Snapshot
Table 117. Zicasso, Inc.: Service Segments
Table 118. Zicasso, Inc.: Product Portfolio
Table 119. Travelopia Holdings Limited: Key Executives
Table 120. Travelopia Holdings Limited: Company Snapshot
Table 121. Travelopia Holdings Limited: Service Segments
Table 122. Travelopia Holdings Limited: Product Portfolio
List of Figures
Figure 01. Luxury Travel Market, 2021-2031
Figure 02. Segmentation of Luxury Travel Market, 2021-2031
Figure 03. Top Investment Pockets in Luxury Travel Market (2022-2031)
Figure 04. Porter Five-1
Figure 05. Porter Five-2
Figure 06. Porter Five-3
Figure 07. Porter Five-4
Figure 08. Porter Five-5
Figure 09. Drivers, Restraints and Opportunities: Globalluxury Travel Market
Figure 10. Luxury Travel Market, by Types of Tour, 2021(%)
Figure 11. Comparative Share Analysis of Luxury Travel Market for Customized and Private Vacations, by Country 2021-2031(%)
Figure 12. Comparative Share Analysis of Luxury Travel Market for Adventure and Safari, by Country 2021-2031(%)
Figure 13. Comparative Share Analysis of Luxury Travel Market for Cruise/Ship Expedition, by Country 2021-2031(%)
Figure 14. Comparative Share Analysis of Luxury Travel Market for Small Group Journey, by Country 2021-2031(%)
Figure 15. Comparative Share Analysis of Luxury Travel Market for Celebration and Special Events, by Country 2021-2031(%)
Figure 16. Comparative Share Analysis of Luxury Travel Market for Culinary Travel and Shopping, by Country 2021-2031(%)
Figure 17. Luxury Travel Market, by Age Group, 2021(%)
Figure 18. Comparative Share Analysis of Luxury Travel Market for Millennial, by Country 2021-2031(%)
Figure 19. Comparative Share Analysis of Luxury Travel Market for Generation X, by Country 2021-2031(%)
Figure 20. Comparative Share Analysis of Luxury Travel Market for Baby Boomer, by Country 2021-2031(%)
Figure 21. Comparative Share Analysis of Luxury Travel Market for Silver Hair, by Country 2021-2031(%)
Figure 22. Luxury Travel Market, by Types of Traveler, 2021(%)
Figure 23. Comparative Share Analysis of Luxury Travel Market for Absolute Luxury, by Country 2021-2031(%)
Figure 24. Comparative Share Analysis of Luxury Travel Market for Aspiring Luxury, by Country 2021-2031(%)
Figure 25. Comparative Share Analysis of Luxury Travel Market for Accessible Luxury, by Country 2021-2031(%)
Figure 26. Luxury Travel Market by Region, 2021
Figure 27. U.S. Luxury Travel Market, 2021-2031 ($Million)
Figure 28. Canada Luxury Travel Market, 2021-2031 ($Million)
Figure 29. Mexico Luxury Travel Market, 2021-2031 ($Million)
Figure 30. Germany Luxury Travel Market, 2021-2031 ($Million)
Figure 31. France Luxury Travel Market, 2021-2031 ($Million)
Figure 32. Spain Luxury Travel Market, 2021-2031 ($Million)
Figure 33. Italy Luxury Travel Market, 2021-2031 ($Million)
Figure 34. Rest of Europe Luxury Travel Market, 2021-2031 ($Million)
Figure 35. China Luxury Travel Market, 2021-2031 ($Million)
Figure 36. India Luxury Travel Market, 2021-2031 ($Million)
Figure 37. Singapore Luxury Travel Market, 2021-2031 ($Million)
Figure 38. Rest of Asia-Pacific Luxury Travel Market, 2021-2031 ($Million)
Figure 39. Middle East Luxury Travel Market, 2021-2031 ($Million)
Figure 40. Latin America Luxury Travel Market, 2021-2031 ($Million)
Figure 41. Africa Luxury Travel Market, 2021-2031 ($Million)
Figure 42. Top Winning Strategies, by Year
Figure 43. Top Winning Strategies, by Development
Figure 44. Top Winning Strategies, by Company
Figure 45. Product Mapping of Top 10 Players
Figure 46. Competitive Dashboard
Figure 47. Competitive Heatmap: Luxury Travel Market
Figure 48. Top Player Positioning, 2021
Figure 49. Thomas Cook India Ltd.: Net Revenue, 2020-2022 ($Million)
Figure 50. Thomas Cook India Ltd.: Revenue Share by Segment, 2022 (%)
Figure 51. Thomas Cook India Ltd.: Revenue Share by Region, 2022 (%)
Figure 52. Tui Group: Net Revenue, 2019-2021 ($Million)
Figure 53. Tui Group: Revenue Share by Segment, 2021 (%)
Figure 54. Tui Group: Revenue Share by Region, 2021 (%)
Executive Summary
According to the report titled, 'Luxury Travel Market,' the luxury travel market was valued at $638.2 billion in 2021, and is estimated to reach $1650.5 billion by 2031, growing at a CAGR of 8.9% from 2022 to 2031.Key factors driving the growth of the luxury travel market include growing inclination of people towards unique and exotic holiday experiences, growing middle and upper middle class spending, growing middle and upper middle class spending and the rise of social media and its impact on travel industry. Travelers are opting for unique and exotic holiday destinations, to get away from daily hectic schedule and to gain valuable experiences. Private, quite, serene, and exotic locations are major factors that people consider while choosing their travel location. Private islands have been voted as top preference by the luxury travelers. In addition, destinations, which are culturally and traditionally intriguing, are getting popular among the affluent travelers, owing to growing interest of people to learn and absorb the local culture. Travelers who want to gain firsthand taste of culture and local life often opt for culinary tours. The evolvement of technology has encouraged more confidence in consumers with regards to booking travel via digital devices such as laptops and mobile. The online booking market is largely driven by the tech-savvy younger generation, who opt for web as a channel for travel booking. The ease of comparing different deals and packages online has resulted in growing number of people opting for online transactions. To cater this growing trend, the market players have developed new apps and mobile version of sites, such as TripAdvisor, Hipmunk, and Kayak, to provide consumers with enhanced experience. As a result, travel agents are increasingly attracting new guests and engaging the existing customers with the latest leisure travel trends.
Growing terrorist attacks, political unrest, and civil riots acts as a threat for the future growth of leisure travel. Owing to the risk associated and warnings issued by Government authorities to avoid such travel, the tourism industry has witnessed decrease in the travel booking. Natural disasters and outbreak of life-threatening diseases severely affect the travel industry growth. Natural disasters such as hurricane, earthquake, and tsunami affect the number of people visiting such areas, as these natural calamities damage the public transportation systems, disrupts the natural beauty, culture, and economy for either a short or an extended period. In addition, regions hit by diseases such as swine flu and Zika virus have witnessed decline in tourism. Thus, above factors are likely to restrained the growth of the luxury travel market during forecast period. In addition, the traveler’s desire for exploring new destination and search for an eco-friendly travel experience has resulted in demand for highly customized travel itineraries. Travelers seek for ecofriendly and sustainable luxury while traveling, which offers a rewarding and authentic travel experience, thereby, protecting the environment and contributing to the development of the local community. This has resulted in a rising trend of green hotels, lodges, and camp that offer a holistic experience to customers. The quest to explore the unexplored places offers an opportunity for the travel agencies to expand their customer base.
According to the market analysis, the luxury travel market is segmented into types of tour, age group, types of travelers, and region. As per types of tour, the market is categorized into customized and private vacations, adventure and safari, cruise/ship expedition, small group journey, celebration and special events and culinary travel and shopping. By age group, it is segregated into millennial, generation x, baby boomer and silver hair. Depending on types of travelers, it is segmented into absolute luxury, aspiring luxury and accessible luxury. By region, the global luxury travel market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, Spain, Italy, and Rest of Europe), Asia-Pacific (China, Singapore, India, and Rest of Asia-Pacific), and LAMEA (Middle East, Latin America, and Africa).
The players operating in the global luxury travel market have adopted various developmental Strategies to expand their market share, increase profitability, and remain competitive in the market. The key players profiled in this report include Abercrombie & Kent USA, LLC, Cox & Kings Ltd, Travcoa, Micato Safaris, Ker & Downey, Tauck, Thomas Cook Group PLC, Scott Dunn Ltd., Kensington Tours, Butterfield & Robinson Inc., TUI Group, Zicasso, Inc., Black Tomato, Backroads, Lindblad Expeditions and Exodus travels.
Key Market Insights:
The luxury travel market was valued at $234,221.9 million in 2021, and is estimated to reach $531,444.2 million by 2031, growing at a CAGR of 7.5% during the forecast period.By type of tour, the adventure and safari segment gained highest share in global luxury travel market in 2021 and, registering a CAGR of 6.3% during the forecast period.
In 2021, depending on age group, the baby boomer segment was valued at $88,388.1 million, accounting for 37.7% of the global luxury travel market share.
In 2021, depending on types of travelers, the accessible luxury segment was valued at $17,807.9 million and is expected to grow at a CAGR of 6.6%.
In 2021, the U.S. was the most prominent market in North America and is projected to reach $73,672.7 million by 2031 growing at a CAGR of 7.2% during the forecast period.
Companies Mentioned
- Thomas Cook India Ltd.
- Scott Dunn Ltd.
- TUI Group
- Zicasso, Inc.
- Micato Safaris
- Butterfield & Robinson Inc.
- Travelopia Holdings Limited
- Kensington Tours
- Tauck, Inc.
- Abercrombie & Kent USA, LLC
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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