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Dublin, Dec. 13, 2022 (GLOBE NEWSWIRE) — “Global Luxury Travel Market Size, Share and Industry Trends Analysis Report by Visit, Age Group (Baby Boomers, Generation X, Millennials and Silver Hair), Regional Outlook and Forecast, 2022-2028” Report Added. ResearchAndMarkets.com’s Providing.
The global luxury travel market size is expected to reach USD 1,574 billion by 2028, growing at a market growth rate of 6.3% CAGR during the forecast period.
| Report behavior | Details |
| Number of pages | 187 |
| Forecast time | 2021 – 2028 |
| Estimated market value in 2021 (USD) | 1037408.7 million dollars |
| Projected Market Value in 2028 (USD) | 1573970 million dollars |
| Compound annual growth rate | 6.3% |
| Covered regions | International |
Unique and one-of-a-kind experiences, and highly personalized services are associated with luxury travel. The sector is driven by spending from increasingly affluent tourists who want to see undiscovered places and have new experiences. With the growing trend of short vacations and the worldwide expansion of the tourist industry, the industry is booming.
Luxury travel plays a significant role in the distribution of wealth around the world, as spending by luxury travelers on art, restaurants, culture, tours and athletic events is critical to the local economy of the places they visit. Travelers are looking for flexible programs that combine entertainment and relaxation to create their own unique experiences.
Many tourists, especially the wealthy, are attracted by the increasing popularity of cruises, yachts and small ships. One of the most popular customers in this market is considered to be High Net Worth Individuals (HNWIs). As a result, businesses in the sector have been focusing more on luxury water-based travel such as cruises.
In addition, the prevalence of Internet research has grown exponentially over time. During the forecast period, high-tech (smart) rooms are expected to fuel demand for luxury accommodation and travel, giving guests total control over how they use their accommodation and choose to travel. The industry is expanding as internet usage and social media reach increases. Also, the number of travel stories being shared on social media sites like Instagram, Facebook, and blogging platforms has increased.
Analysis of the impact of Covid-19
Globally, the Covid-19 pandemic has affected every industry. It has had a significant impact on the tourism sector around the world, which has had a negative impact on related industries such as travel agencies, hospitality, tour operators and all transport services. The rest of the population has stayed at home due to fear of the virus, while almost the entire world’s population has adjusted its lifestyle under various travel restrictions. As a result, the tourism industry almost came to a standstill.
Reasons for market growth
Travel guidelines and regulations
When it comes to visa policy, each country has its own specific guidelines for visitors of different nationalities. However, governments often require tourists to take out travel insurance in order to obtain a visa. Must have travel health insurance for visiting countries like France, USA, Norway, Belgium, Luxembourg, Finland and Poland etc.
This clause is due to the high level of medical care and hospitalization in host countries to ensure that visitors are adequately covered in the event of an emergency. The travel and tourism business has grown steadily over the past ten years.
Social media influences travelers
Every aspect of our lives, including the way we eat, has been changed by social media. Businesses have been greatly influenced by these developments, largely because they have adopted new marketing methods.
As part of all these, tourism is one of the most dynamic economic sectors in the world. People are now encouraged to talk about their journey. Social networking has changed how people make decisions.
Reason for trading ban:-
The number of chronic diseases that prevent people from traveling is increasing.
The travel industry has almost been paralyzed by the pandemic. The Covid-19 pandemic has impacted the tourism sector due to travel restrictions and reduced demand from tourists. The spread of the coronavirus has had a major impact on the tourism sector as many countries have imposed travel restrictions to contain the disease.
Key topics covered:
Chapter 1. Market scope and methodology
Chapter 2. Market overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market composition and situation
2.2 Key factors affecting the market
2.2.1 Market drivers
2.2.2 Market restrictions
Chapter 3. Competitive Analysis – International
3.1 Recent industry wide strategic developments
3.1.1 Partnerships, collaborations and agreements
3.1.2 Product Launches and Product Expansions
3.1.3 Access and Joining
3.1.4 Geographical expansions
3.2 High winning strategies
3.2.1 Key Leading Strategies: Percentage Distribution (2018-2022)
3.2.2 Key Strategic Activity: (Partnerships, Collaborations and Agreements: 2018, August – 2022, September) Major Players
Chapter 4. Global luxury travel market by tour
4.1 Global Safari and Adventure Market by Region
4.2 Global Celebration Travel Market by Region
4.3 International food travel and market by region
4.4 Global Cruise, Cruise and Small Cruise Market by Region
4.5 Global Custom and Personal Vacation Market by Region
4.6 Global other market by region
Chapter 5. Global Luxury Travel Market by Age Group
5.1 Global Baby Boomer Market by Region
5.2 Global Generation X Market by Region
5.3 Global Millennial Market by Region
5.4 Global Silver Hair Market by Region
Chapter 6. Global Luxury Travel Market by Region
Chapter 7. Company Profiles
7.1 TUI Group
7.1.1 Company overview
7.1.2 Financial analysis
7.1.3 Section and regional analysis
7.1.4 Recent strategies and developments
7.1.4.1 Partnerships, Cooperation and Agreements
7.1.4.2 Geographical expansions
7.2 Lindblad Expeditions Holdings, Inc.
7.2.1 Company overview
7.2.2 Financial analysis
7.2.3 Fractional analysis
7.2.4 Recent strategies and developments
7.2.4.1 Partnerships, Cooperation and Agreements
7.2.4.2 Access and Joining
7.3 Thomas Cook (India) Limited (Fairfax Financial Holdings Limited)
7.3.1 Company overview
7.3.2 Financial analysis
7.3.3 Fractional analysis
7.4 Scott Dunn
7.4.1 Company overview
7.4.2 Recent strategies and developments
7.4.2.1 Partnerships, Cooperation and Agreements
7.4.2.2 Access and Joining
7.5 Abercrombie & Kent USA, LLC
7.5.1 Company overview
7.5.2 Recent strategies and developments
7.5.2.1 Partnerships, collaborations and agreements
7.5.2.2 Acquisitions and Mergers
7.6 Exodus Travelers Limited
7.6.1 Company overview
7.6.2 Recent strategies and developments
7.6.2.1 Partnerships, Cooperation and Agreements
7.6.2.2 Access and Joining
7.7 Travel Edge, Inc. (Navigator Group)
7.7.1 Company overview
7.7.2 Recent strategies and developments
7.7.2.1 Partnerships, Cooperation and Agreements
7.8 Butterfield & Robinson, Inc.
7.8.1 Company overview
7.9 Geographical Journeys, Inc.
7.9.1 Company overview
7.10. Mikato Safaris
7.10.1 Company overview
For more information about this report, visit https://www.researchandmarkets.com/r/o4i0ar
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International luxury travel market
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