France luxury travel market opportunity analysis and industry forecast, 2021-2030
POTLAND, 5933 NE WIN SIVERS DRIVE, # 205, OR 97220, UNITED STATES, December 17, 2021 /EINPresswire.com/ – According to a new report released by Allied Market Research titled, “FRANCE Luxury travel market by tour type, age group and traveler types: analysis of industry opportunities and forecasts, 2021-2030 ”,
The luxury travel market in France is growing at a healthy rate of 20.6%, due to the increased interest of people in unique and exotic vacation destinations. Luxury travel is in a growth phase and is gradually gaining market share across the travel industry as a result of increasing disposable income and rising standard of living of people. The increase in the number of high net worth individuals (HNIs) in emerging markets is further propelling the growth of the luxury travel market. The size of the luxury travel market in France is expected to reach $ 53,636.5 million by 2030, growing at a CAGR of 20.4%, from 2021 to 2030.
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The growth of the luxury travel market in France is attributable to the shift of a large number of luxury travel agencies to new technologies. It is about strengthening the status of luxury travel and providing customers with state-of-the-art facilities. The Oculus rift virtual reality device, Amazon’s eco-artificial intelligence, Go Pro wearable technology, and DaVinci 3D printing are some of the advanced technologies launched for customers to enhance their travel experience. The growth in the number of HNIs and the rising aspirations of the young and wealthy millennials are expected to drive the market growth in the region. The renewed interest of people in exploring new places and having unique travel experiences has encouraged market players to offer trips that connect travelers to the local culture of the destination and explore the unknown knowledge of the place and its surroundings. inhabitants. However, changing socio-economic conditions threaten the growth of the luxury travel market in France.
The luxury travel market in France is segmented by type of tour, age group and type of traveler. Based on the type of tour, the market is categorized into Custom & Private Vacation, Adventure & Safari, Cruise / Boat Expedition, Small Group Travel, Celebration & Special Event, and Food & Shopping Travel. On the basis of age group, the market has been categorized as 21-30, 31-40, 41-60, Over 60. Based on the type of traveler, the market is categorized into absolute luxury, budding luxury, and accessible luxury.
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By type of tour, the adventure and safari segment holds the majority of the luxury travel market share in France. The segment is expected to maintain its leading position in the market over the forecast period, due to the increased interest of people to explore new and exciting experiences while traveling.
Based on France luxury travel market forecast by age group, the 41-60 year old segment is estimated to be the fastest growing market in the overall luxury travel market. However, the 21-30 year old segment was the fastest growing segment in 2020. The growth of this segment in the luxury travel market in France can be attributed to the growing aspiration to travel and luxury through social media.
Based on the analysis of France luxury travel market by type of traveler, absolute luxury is the largest and fastest growing segment of the luxury travel market. The growth of this segment can be attributed to the growing affinity of luxury travel among affluent travelers to France.
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Main conclusions of the study
By type of tour, the adventure and safari segment dominated the luxury travel market in France, accounting for the majority of the share in 2020.
On the basis of age group, 41-60 years segment dominated the overall market
Based on the type of traveler, the absolute luxury travel segment is expected to contribute the highest market share during the forecast period.
The culinary travel and shopping segment in France luxury travel market is expected to grow at the highest CAGR throughout the forecast.
The strong presence of private labels gives stiff competition to key players. The main players in the luxury travel industry in France are Abercrombie & Kent Ltd, Cox and Kings Ltd, the TUI group, Voyageurs Du Monde, Asia.Fr, Beachcomber, Kuoni, Voyages Confidential, Ponant and Prestige Voyages.