Press release
Luxury Travel Market to Reach 5200 million US$ by 2025 with Key Players TUI Group, Thomas Cook Group, Jet2 Holidays, Cox & Kings Ltd, Lindblad Expeditions, Travcoa, Scott Dunn, Abercrombie & Kent Ltd
Luxury Travel Market
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.
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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.
In 2017, the global Luxury Travel market size was 5200 million US$ and it is expected to reach 9920 million US$ by the end of 2025, with a CAGR of 8.4% during 2018-2025.
The key players covered in this study 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
Market segment by Type, the product can be split into
• Customized and Private Vacation
• Adventure and Safari
• Cruise/Ship Expedition
• Small Group Journey
• Celebration and Special Event
• Others
Market segment by Application, split into
• Millennial
• Generation X
• Baby Boomers
Market segment by Regions/Countries, this report covers
• United States
• Europe
• China
• Japan
• Southeast Asia
• India
• Central & South America
The study objectives of this report are:
• To analyze global Luxury Travel status, future forecast, growth opportunity, key market and key players.
• To present the Luxury Travel development in United States, Europe and China.
• To strategically profile the key players and comprehensively analyze their development plan and strategies.
• To define, describe and forecast the market by product type, market and key regions.
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In this study, the years considered to estimate the market size of Luxury Travel are as follows:
• History Year: 2013-2017
• Base Year: 2017
• Estimated Year: 2018
• Forecast Year 2018 to 2025
Table of Contents
1 Report Overview
1.1 Study Scope
1.2 Key Market Segments
1.3 Players Covered
1.4 Market Analysis by Type
1.4.1 Global Luxury Travel Market Size Growth Rate by Type (2013-2025)
1.4.2 Customized and Private Vacation
1.4.3 Adventure and Safari
1.4.4 Cruise/Ship Expedition
1.4.5 Small Group Journey
1.4.6 Celebration and Special Event
1.4.7 Others
1.5 Market by Application
1.5.1 Global Luxury Travel Market Share by Application (2013-2025)
1.5.2 Millennial
1.5.3 Generation X
1.5.4 Baby Boomers
1.6 Study Objectives
1.7 Years Considered
2 Global Growth Trends
2.1 Luxury Travel Market Size
2.2 Luxury Travel Growth Trends by Regions
2.2.1 Luxury Travel Market Size by Regions (2013-2025)
2.2.2 Luxury Travel Market Share by Regions (2013-2018)
2.3 Industry Trends
2.3.1 Market Top Trends
2.3.2 Market Drivers
2.3.3 Market Opportunities
3 Market Share by Key Players
3.1 Luxury Travel Market Size by Manufacturers
3.1.1 Global Luxury Travel Revenue by Manufacturers (2013-2018)
3.1.2 Global Luxury Travel Revenue Market Share by Manufacturers (2013-2018)
3.1.3 Global Luxury Travel Market Concentration Ratio (CR5 and HHI)
3.2 Luxury Travel Key Players Head office and Area Served
3.3 Key Players Luxury Travel Product/Solution/Service
3.4 Date of Enter into Luxury Travel Market
3.5 Mergers & Acquisitions, Expansion Plans
4 Breakdown Data by Type and Application
4.1 Global Luxury Travel Market Size by Type (2013-2018)
4.2 Global Luxury Travel Market Size by Application (2013-2018)
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