Press release
Luxury Travel Market to reach USD 2,728.80 Bn by 2029, emerging at a CAGR of 11.2 percent and forecast 2023-2029
Luxury Travel Market
Luxury Travel Market valued at USD 1297.89 Billion in 2022, projected to reach USD 2,728.80 Billion by 2029, showcasing a CAGR of 11.2% during the forecast period.
Maximize Market Research Pvt Ltd unveils a comprehensive Luxury Travel Market Research Report covering market values, dynamics, segment analysis, and regional insights.
The report employs a robust research methodology to provide accurate and insightful market data, offering a reliable foundation for industry stakeholders.
Request a Free Sample Copy or View Report Summary:https://www.maximizemarketresearch.com/request-sample/121614
Luxury Travel Market Dynamics:
Modern travelers are seeking unique and exotic vacation destinations as an escape from their hectic daily routines, prioritizing private, serene, and culturally rich locales. Private islands have emerged as the top choice for luxury vacationers, providing an exclusive and tranquil retreat. Moreover, there is a growing interest among affluent tourists in culturally and traditionally fascinating places, reflecting a desire to immerse themselves in local customs and heritage.
Culinary tours have gained popularity among travelers seeking an authentic experience of local culture and daily life. According to a 2022 survey on the status of the food travel industry, 56% of millennials and younger individuals actively seek food or drink experiences while on their journeys. Additionally, 39% of initiatives combining food and travel are contributing to a rise in food-focused travel. This increasing demand for distinctive vacation experiences is anticipated to fuel growth in the luxury travel market.
Luxury Travel Market Regional Insights:
The luxury travel market is poised for substantial global expansion, with the Americas, Asia-Pacific, the Middle East, and Africa emerging as key growth hubs, fueled by increasing affluence and a burgeoning middle class. Notably, Europe and North America stand out as the preferred luxury travel destinations, experiencing a surge that outpaces other outbound travel sectors.
This growth phenomenon is predominantly driven by emerging market nations, including China, Hong Kong, India, and Malaysia. America and China, with approximately 9 million and 7 million luxury vacations annually, respectively, emerge as the largest source markets. In Europe, the British lead in luxury trips, surpassing Germany and France by 1.5 million trips. The outbound luxury travel ranking sees China at the forefront, followed by the U.S, Taiwan, Canada, and the UAE.
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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
by Transportation Type
Air Transportation
Water Transportation
Land Transportation
by Booking Channel
Phone Booking
Online Booking
In Person Booking
Request a Free Sample Copy or View Report Summary:https://www.maximizemarketresearch.com/request-sample/121614
Luxury Travel Market Key Players:
1. Abercrombie & Kent USA, LLC (US)
2. Virtuoso, Ltd. (US)
3. Micato Safaris, Inc. (US)
4. Ker & Downey (US)
5. Tauck, Inc. (US)
6. BLACK TOMATO GROUP (US)
7. Kensington Tours Ltd. (US)
8. Zicasso, Inc. (US)
9. Backroads (US)
10.Lindblad Expeditions (US)
11.Asia Transpacific Journeys (US)
12.Journeys 360 Travel (US)
13.Ovation Travel Group (US)
14.Exodus Travels (Canada)
15.Butterfield & Robinson Inc (Canada)
16.TUI Group (Germany)
17.Scott Dunn Ltd (UK)
18.Voyage Prive (UK)
19.Wexas Limited (UK)
20.Thomas Cook Group Plc (UK)
21.Mlkjets (UK)
22.BubbleGlobe (France)
23.CellerTours (Spain)
24.So Me Travel (Austria)
25.Cox & Kings Ltd (India)
Get to Know More About This Market Study:https://www.maximizemarketresearch.com/market-report/global-luxury-travel-market/121614/
1.Global Luxury Travel Market: Research Methodology
2.Global Luxury Travel Market: Executive Summary
Market Overview and Definitions
Introduction to the Global Market
Summary
Key Findings
Recommendations for Investors
Recommendations for Market Leaders
Recommendations for New Market Entry
3.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
4 . Company Profile: Key players
Company Overview
Financial Overview
Global Presence
Capacity Portfolio
Business Strategy
Recent Developments
Key Offerings:
Past Market Size and Competitive Landscape (2022 to 2029)
Past Pricing and price curve by region (2022 to 2029)
Market Size, Share, Size and Forecast by different segment | 2022-2029
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
Market Segmentation - A detailed analysis by growth and trend
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
Contact Maximize Market Research:
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About Maximize Market Research:
Maximize Market Research is one of the fastest-growing market research and business consulting firms serving clients globally. Our revenue impact and focused growth-driven research initiatives make us a proud partner of the majority of the Fortune 500 companies. We have a diversified portfolio and serve a variety of industries such as IT & telecom, chemical, food & beverage, aerospace & defense, healthcare and others.
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