Luxury Travel Market is Expected to Reach USD 2,728.80 Bn. With CAGR of 11.2 % By Forecast 2029 Says Maximize Market Research (MMR)

Luxury Travel Market Overview :

Maximize Market Research, a leading firm, has published a comprehensive report on the Luxury Travel Market. The report provides an overview of the market, including its scope, research methodology, gross profit margin, cost market share, market capability, and supply and demand analysis. This data helps identify key drivers that impact market growth. The report also highlights key industries and presents widely available data.

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Luxury Travel Market Scope :

The Luxury Travel market heavily relies on pictorial, graphical, and numerical data, which are analyzed and presented comprehensively within the market scope. The scope of the report showcases various opportunities and mediums for market analysis. Primary data refers to authentic information obtained from reliable sources, while secondary data consists of existing information used for research, analysis, and decision-making purposes. The report includes an in-depth analysis of the Luxury Travel market and its segmentation. It also provides a regional analysis of market dynamics, enabling investors and readers to compare past and current market trends. SWOT analysis is performed to identify market strengths and weaknesses, while PESTLE analysis is conducted to understand the business direction, growth targets, and upcoming risks. The report also covers current market trends and provides forecasts for the upcoming years.

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Luxury Travel Market Segmentation :

According to Types of Tour, Adventure & Safari dominated the luxury travel market in 2021 and is anticipated to continue to do so during the forecast period. The best outdoor adventure trips are frequently regarded as safaris. Apart from physically strenuous activities, this industry, which is among the fastest expanding, is also known for tailored itineraries and soft experiences. Visiting natural treasures like the Galapagos Islands and boating in the Mediterranean are also included. Bike rides, scuba diving, specialty explorations, arctic expeditions, and night safaris through African rainforests are other examples of luxury adventure and safari excursions. The market for this niche is projected to grow quickly as consumers’ desire in transformational and engaged activities increases.

Based on age group, Baby Boomers dominated the luxury travel market in 2022 and are anticipated to continue to do so during the forecast period. The most frequent luxury travellers are between the ages of 50 and 65, who make an average of 4-5 trips annually. Although baby boomers are the age group that spends the most money on travel, just 5–10% of market players target them. Baby boomers are predicted to receive $15 trillion over the next 20 years and control 70% of the country’s discretionary money. The majority of baby boomers are anticipated to enjoy leisure travel, with 45% going both locally and abroad and 5% only doing so.

According to Types of Traveller, Absolute Luxury dominated the luxury travel market in 2022 and is anticipated to continue to do so during the projected period. Absolute luxury households are those with a net worth of at least $30 million, spend more than $230 billion annually on upscale goods, and make up more than 20% of all upscale purchases, including vacation. Travel is still a common choice for affluent clients because touring is a fantastic alternative for high-budget vacationers. When travelling in search of one-of-a-kind and remarkable experiences, absolute travellers need to take time for physical and spiritual refreshment. Absolute luxury travellers are gaining popularity for itineraries that offer rich and unique travel experiences, which is fueling the growth of the global luxury travel business.

 

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)

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Regional Analysis :

The report emphasizes Luxury Travel market strategy and planning through regional analysis. This analysis incorporates various techniques and tactics to enhance understanding. Regional analysis continuously monitors business growth and helps target clients, thereby impacting regional business or market. The report presents different levels of data for regional perspectives, including competitiveness, market pricing, quantity, and quality.

Key Questions Answered in the Luxury Travel Market Report:

• What is the definition of the Luxury Travel Market?
• What is the forecast period for the Luxury Travel Market?
• What is the competitive scenario of the Luxury Travel market?
• Which region holds the largest market share in the Luxury Travel Market?
• What are the opportunities for the Luxury Travel Market?
• What factors are affecting the growth of the Luxury Travel market?
• Who are the key players in the Luxury Travel market?
• Which company holds the largest share in the Luxury Travel market?
• What will be the compound annual growth rate (CAGR) of the Luxury Travel market during the forecast period?
• What key trends are likely to emerge in the Luxury Travel market in the coming years?

Key Offerings:

• Market Share, Size, and Revenue Forecast | 2023-2029
• Market Dynamics: Growth drivers, restraints, investment opportunities, and key trends
• Market Segmentation: Detailed analysis by Luxury Travel
• Landscape: Leading key players and other prominent participants.

About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from various industries. We cover a wide range of sectors, including medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, automotive, chemical products, general merchandise, beverages, personal care, and automated systems, among others. Our services include market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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