Global Luxury Travel Market Size, Status and Forecast 2025
Posted by QYRtina on July 4th, 2018
The Luxury Travel Market Research report clarifies the past experience and trends, on the basis of these past experiences, it offers the future prediction considering other factors influencing the growth rate. This worldwide report offers the detailed analysis of the important factors such as market dynamics (DROT), PEST, and PORTER which assists the growth of the Luxury Travel Industry. These past experience and factors assist to build the strategy and future planning of Luxury Travel Market and hold a place in the competitive world.
The Luxury Travel industry Market report offers the competitive scenario in the Luxury Travel industry based on the type of product, applications, and the companies that are present in the Luxury Travel market, and covers the company profiles, their development policies, lined up products and recent launched along with the SWOT analysis of companies.
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This report studies the global Luxury Travel market size, industry status and forecast, competition landscape and growth opportunity. This research report categorizes the global Luxury Travel market by companies, region, type and end-use industry.
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.
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.
This report focuses on the global top players, covered
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 Regions/Countries, this report covers
United States
Europe
China
Japan
Southeast Asia
India
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
The study objectives of this report are:
To study and analyze the global Luxury Travel market size (value & volume) by company, key regions/countries, products and application, history data from 2013 to 2017, and forecast to 2025.
To understand the structure of Luxury Travel market by identifying its various subsegments.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
Focuses on the key global Luxury Travel manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Luxury Travel with respect to individual growth trends, future prospects, and their contribution to the total market.
To project the value and volume of Luxury Travel submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.
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