Research report on “global luxury travel market” with In depth study by current and future industry trends, travelers’ behavioural characteristics, top agencies profiles, investment plans and segmented data.
Manhattan, United States – February 23, 2019 —
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.
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.
According to this study, over the next five years the Luxury Travel market will register a 8.5% CAGR in terms of revenue, the global market size will reach US$ 8460 million by 2024, from US$ 5200 million in 2019. In particular, this report presents the global revenue market share of key companies in Luxury Travel business, shared in Chapter 3.
This report presents a comprehensive overview, market shares and growth opportunities of Luxury Travel market by product type, application, key companies and key regions.
This study considers the Luxury Travel value generated from the sales of the following segments:
Segmentation by product type: breakdown data from 2014 to 2019 in Section 2.3; and forecast to 2024 in section 10.7.
Customized and Private Vacation
Adventure and Safari
Small Group Journey
Celebration and Special Event
Segmentation by application: breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 10.8.
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This report also splits the market by region: Breakdown data in Chapter 4, 5, 6, 7 and 8.
Middle East & Africa
The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report: Breakdown data in in Chapter 3.
Thomas Cook Group
Cox & Kings Ltd
Abercrombie & Kent Ltd
Butterfield & Robinson
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Important Points From The Table Of Content:
Scope of the Report
Global Luxury Travel by Players
Luxury Travel by Regions
Market Drivers, Challenges and Trends
Marketing, Distributors and Customer
Global Luxury Travel Market Forecast
Key Players Analysis
Research Findings and Conclusion
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