Press release
Outlook on the Customized Travel Market: Major Segments, Strategic Developments, and Leading Companies
Customized Travel
Forecasted Expansion of the Customized Travel Market Size Through 2030
The customized travel market is projected to expand rapidly over the coming years, reaching a value of $208.5 billion by 2030. This growth corresponds to a compound annual growth rate (CAGR) of 10.0%. Several factors are propelling this upward trajectory, including the increasing use of digital travel assistants, a rising interest in sustainable travel, growth in experiential and wellness tourism, wider adoption of immersive travel planning tools, and an upsurge in demand for cross-border travel. Key trends expected to influence the market during this period involve greater adoption of AI-driven itinerary planning, a growing preference for experience-centric travel packages, flexible booking options, a push towards responsible tourism, and enhanced reliance on digital travel platforms.
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Leading Companies Influencing the Customized Travel Industry
The customized travel landscape features many prominent players contributing to its development. Notable companies in this market include Expedia Group Inc, Airbnb Inc, Cox and Kings Limited, TripAdvisor Inc, Abercrombie and Kent Group of Companies S.A, Insight Vacations Inc, Sonder Holdings Inc, G Adventures Inc, Viator Inc, Backroads Inc, MakeMyTrip Limited, Travel Leaders Group LLC, GetYourGuide AG, Luxury Escapes Travel Pty Ltd., TCS World Travel Inc, VBT Bicycling Vacations, Scott Dunn Travel Limited, Black Tomato Group Inc, Railbookers Group, Klook Travel Technology Limited, Zicasso Inc, Classic Journeys LLC, Salt and Wind Travel LLC, Customized Journeys LLC, Asia Transpacific Journeys Inc, Trafalgar Tours International Limited, Heritage Tours Private Travel LLC, and Rustik Travel Ventures Private Limited.
Significant Acquisition Impacting the Market in 2024
In September 2024, India-based travel agency Yatra Online acquired Globe All India Services Limited for $15.29 million. This strategic move aims to expand Yatra's corporate client base by 40%, strengthen its Meeting, Incentives, Conferences, and Exhibitions (MICE) services, and fast-track its transition toward B2B operations. Globe All India Services Limited specializes in offering both domestic and international travel packages along with customized travel solutions. This acquisition has boosted Yatra's B2B Gross Merchandise Value (GMV) to over 50% of its total GMV, marking a significant milestone in its business development.
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Emerging Trends Shaping the Future of Customized Travel
The future of customized travel is strongly influenced by innovations involving artificial intelligence (AI). Leading companies are increasingly deploying AI-powered platforms to simplify trip planning and enhance personalized travel experiences. These technologies analyze traveler preferences, past behaviors, and real-time data to create tailored itineraries efficiently. For example, in August 2024, Thomas Cook India introduced an AI-driven platform designed to transform holiday planning. Developed alongside its group company SOTC Travel, this tool allows users to design custom vacations in under ten minutes-a remarkable improvement from traditional methods that often required 48 to 72 hours due to coordination with multiple suppliers. By delivering personalized recommendations, the platform helps travelers save time and money while enabling quick, customized itinerary creation.
Segmentation Overview of the Global Customized Travel Market
The customized travel market is segmented based on traveler types, trip durations, and trip focus areas.
Traveler Type categories include:
- Luxury Travelers
- Adventure Travelers
- Cultural Enthusiasts
- Family Travelers
- Solo Travelers
Trip Duration segments encompass:
- Short Breaks (Within 7 Days)
- Extended Vacations (Above 15 Days)
Trip Focus areas cover:
- Special Interest Tours
- Wellness Retreats
- Educational Travel
Further subcategories refine traveler types with examples such as:
- Luxury Travelers enjoying high-end vacation packages, private yacht and jet charters, and exclusive access experiences.
- Adventure Travelers engaging in extreme sports, wildlife safaris, and trekking expeditions.
- Cultural Enthusiasts exploring historical tours, culinary experiences, and museum visits.
- Family Travelers opting for family-friendly packages, educational tours, and theme park outings.
- Solo Travelers choosing personalized solo travel packages, wellness retreats, volunteer programs, and group tours tailored for solo exploration.
This segmentation enables companies to cater effectively to diverse traveler preferences and tailor their offerings accordingly.
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