According to the latest IMARC group report, titled “Luxury Travel Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2021-2026”, the global luxury travel market to reach a value of approximately US $ 1,605 billion in 2020. Going forward, IMARC Group expects the market grow at a CAGR of 9.1% during 2021-2026.
Luxury travel services include premium, exclusive and personalized facilities that enhance the overall experience of an individual’s stay. These services include in-room dining, plush beds, gourmet meals, free Wi-Fi, innovative destinations, reliable transportation, and more. Currently, several travel agencies offer authentic vacation packages with unique activities, unusual destinations, 24-hour assistance, etc. This attracts a large consumer base for luxury travel services across the world.
We regularly monitor the direct effect of COVID-19 on the market, as well as the indirect influence of related industries. These observations will be incorporated into the report.
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Global Luxury Travel Market Trends:
The inflating levels of disposable income and the improvement of the means of transportation lead to the increasing willingness of individuals to spend on different leisure activities and exotic vacation experiences. This represents one of the major factors propelling the growth of the luxury travel market. In addition, the emerging trend of modern campsites or innovative glamping accommodation and the growing inclination towards green travel solutions are further boosting the market growth. In addition, many travel agencies are increasingly using advanced technologies to enable online booking of travel, better access to travel data, compare booking options, reduce time and effort of travelers, etc. recreational activities, will continue to strengthen the luxury travel market in the years to come.
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Global Luxury Travel Market Analysis and Segmentation 2021-2026:
Competitive landscape with Key Player:
- Abercrombie & Kent USA LLC
- Butterfield & Robinson Inc.
- Cox & Kings Ltd.
- Exodus Travels Limited (Travelopia)
- Kensington Tours Ltd.
- Micato Safaris
- Scott Dunn Ltd.
- Thomas cook. in (Fairbridge Capital (Mauritius) Limited)
- TUI Group
Breakdown by type of tour:
- Personalized and private vacations
- Adventure and Safari
- Cruise and boat expedition
- Small group trip
- Celebration and special event
- Culinary and shopping trip
Breakdown by age group:
- Millennium (21-30)
- Generation X (31-40)
- Baby boomers (41-60)
- Silver hair (60 years and over)
Breakdown by type of traveler:
- Absolute luxury
- Budding luxury
- Accessible luxury
Breakdown by region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia-Pacific (China, Japan, India, Australia, Indonesia, Korea, others)
- Latin America (Brazil, Mexico, others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, others)
Highlights of the report:
- Market performance (2015-2020)
- Market Outlook (2021-2026)
- Porter’s Five Forces Analysis
- Market drivers and success factors
- SWOT analysis
- Value chain
- Complete mapping of the competitive landscape
To note: If you need specific information that is not currently within the scope of the report, we can provide it to you as part of the customization.
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