Global Luxury Travel Market Size By Tour Type, By Age Group Of Travellers, By Geographic Scope And Forecast
Report Highlights
Luxury Travel Market Insights
Luxury Travel Market was valued at USD 1072.2 Billion in 2020 and is projected to reach USD 1795.7 Billion by 2028, growing at a CAGR of 4.8% from 2021 to 2028.
The Luxury Travel Market report provides a holistic evaluation of the market for the forecast period. The report comprises various segments as well as an analysis of the trends and factors that are playing a substantial role in the market. These factors; the market dynamics involve the drivers, restraints, opportunities, and challenges through which the impact of these factors in the market are outlined. The drivers and restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market. The Luxury Travel Market study provides an outlook on the development of the market in terms of revenue throughout the prognosis period.
Global Luxury Travel Market Overview
An increasing number of domestic and international travelers with a high disposable income level is a key driver for the global Luxury Travel Market. The current trends of destination weddings, business retreats, travel blogging, destination shopping, cultural immersion, etc., are expected to support the growth of this industry. A luxurious escape from the hectic work schedules of the working professionals, especially millennials, has given a boost to this Luxury Travel Market.
This report provides an all-inclusive environment for the analysis of the Luxury Travel Market. The market estimates provided in the report are the result of in-depth secondary research, primary interviews, and in-house expert reviews. These market estimates have been considered by studying the impact of various social, political, and economic factors along with the current market dynamics affecting the Luxury Travel Market growth.
Along with the market overview, which comprises the market dynamics the chapter includes Porter’s Five Forces analysis which explains the five forces: namely buyers’ bargaining power, suppliers’ bargaining power, the threat of new entrants, the threat of substitutes, and degree of competition in the Luxury Travel Market. It explains the various participants, such as system integrators, intermediaries, and end-users within the ecosystem of the market. The report also focuses on the competitive landscape of the Luxury Travel Market.
Report Synopsis
| Report Metrics | Details |
| Base year considered | 2020 |
| Forecast period considered | 2021-2028 |
| Base year market size | 1072.2 $ Billion |
| Market size forecast | 1795.7 $ Billion |
| Growth rate | 4.8% |
| Units considered | $ Billion |
| Segments covered | Tour Type, Age Group Of Travellers, And Geography. |
| Industry covered | Automobile & Transportation |
| Companies studied |
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Global Luxury Travel Market: Segmentation Analysis
The Global Luxury Travel market has been segmented on the basis of Tour Type, Age Group Of Travellers, And Geography.
Key Players In Luxury Travel Market
The key market players in the global Luxury Travel Market are expanding their global stronghold via mergers and acquisitions and strategic partnerships. They are continuously launching customized and attractive travel plans and packages, which are in line with the evolving customers needs and desires. The global market is highly fragmented, with the key players distributed across various regions and offering diversified package portfolios. Some key players in the market are Absolute Travel Inc., Thomas Cook Group, Scott Dunn, Coxs and Kings Ltd., Travelopia, Odyssey World, Butterfield & Robinson Inc., Classic Journeys, Abercrombie & Kent USA LLC and Travcoa.
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