Press release
Luxury Travel Market to reach USD 2,728.80 Bn by 2029, Technological Advancements and Growth Opportunities
Luxury Travel Market
Luxury Travel Market Report Scope and Research Methodology
The report is based on a robust research methodology that involved analyzing market trends, growth patterns, market dynamics, and demand-supply patterns. The report provides a comprehensive view of the luxury travel market, offering insights into the market size, market share, and growth rate.
The report also emphasizes that the growing inclination of people towards unique and exotic holiday experiences is expected to drive the luxury travel market. Private, quiet, tranquil, and exotic locales are important criteria that people consider when deciding where to visit. Private islands have been rated the No 1 choice of luxury vacationers. Additionally, culturally and traditionally fascinating places are becoming increasingly popular among affluent tourists, owing to an increase in people's desire to learn about and absorb local culture.
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Luxury Travel Market Dynamics
The report also cites the causes driving the growth of the luxury travel industry, which include an increase in people's desire for distinctive and exotic vacation experiences, an increase in middle and upper-class spending, and an increase in people's desire to spend more time with family. The fluctuating economics of many regions pose a danger to the development of the luxury travel market.
Furthermore, the report indicates that growing middle and upper-middle-class spending, the rise of social media and its impact on the travel industry, and the growing trend of online bookings are driving the growth of the luxury travel market. However, varying socio-economic conditions and natural parameters such as natural disasters and outbreaks of life-threatening illnesses are restraining the growth of the market.
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Luxury Travel Market Regional Insights
The report, which provides insights into the drivers, restraints, and regional insights of the luxury travel market, highlights that Europe and North America are the most popular luxury travel locations. Although significant developed nations such as the United States and Germany have a larger share of the luxury travel market, demand for international luxury travel has increased in developing countries such as China and India. The growth in per capita income of middle-class tourists in emerging nations is causing the shift.
Luxury Travel Market Segmentation
By Types of Tour:
• Customized and Private Vacations
• Adventure & Safari
• Cruise/Ship Expedition
• Small Group Journey
• Celebration and Special Events
• Culinary Travel and Shopping
By Age Group:
• Millennials
• Generation X
• Baby Boomers
• Silver Hair
By Type of Traveler:
• Absolute luxury
• Aspiring luxury
• Accessible luxury
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Luxury Travel Market Key Competitors include:
• Abercrombie & Kent USA, LLC (US)
• Virtuoso, Ltd. (US)
• Micato Safaris, Inc. (US)
• Ker & Downey (US)
• Tauck, Inc. (US)
• BLACK TOMATO GROUP (US)
• Kensington Tours Ltd. (US)
• Zicasso, Inc. (US)
• Backroads (US)
• Lindblad Expeditions (US)
• Asia Transpacific Journeys (US)
• Journeys 360 Travel (US)
• Ovation Travel Group (US)
• Exodus Travels (Canada)
• Butterfield & Robinson Inc (Canada)
• TUI Group (Germany)
• Scott Dunn Ltd (UK)
• Voyage Prive (UK)
• Wexas Limited (UK)
• Thomas Cook Group Plc (UK)
• Mlkjets (UK)
• BubbleGlobe (France)
• CellerTours (Spain)
• So Me Travel (Austria)
• Cox & Kings Ltd (India)
• Lightfoot Travel (Singapore)
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Table of Content for Luxury Travel Market
Global Luxury Travel Market: Research Methodology
Global Luxury Travel Market: Executive Summary
Market Overview and Definitions
Introduction to Global Market
Summary
Key Findings
Recommendations for Investors
Recommendations for Market Leaders
Recommendations for New Market Entry
Global Luxury Travel Market: Competitive Analysis
MMR Competition Matrix
Market Structure by region
Competitive Benchmarking of Key Players
Consolidation in the Market
M&A by region
Key Developments by Companies
Market Drivers
Market Restraints
Market Opportunities
Market Challenges
Market Dynamics
PORTERS Five Forces Analysis
PESTLE
Regulatory Landscape by region
North America
Europe
Asia Pacific
Middle East and Africa
South America
COVID-19 Impact
Global Luxury Travel Market Segmentation
Global Market, by Types of Tour (2021-2029)
Global Market, by Age Group (2021-2029)
Global Market, by Type of Traveler (2021-2029)
Regional Luxury Travel Market (2021-2029)
Regional Market, by Types of Tour (2021-2029)
Regional Market, by Age Group (2021-2029)
Regional Market, by Type of Traveler (2021-2029)
Regional Market, by Country (2021-2029)
Company Profile: Key players
Company Overview
Financial Overview
Global Presence
Capacity Portfolio
Business Strategy
Recent Developments
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Key Types:
Past Market Size and Competitive Landscape (2018 to 2021)
Past Pricing and price curve by region (2018 to 2021)
Market Size, Share, Size & Forecast by different segment | 2022-2029
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
Market Segmentation - A detailed analysis by Types of Tour, Age Group and Type of Traveler
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
Recommendations
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