Luxury Travel Market
Market Insights on Luxury Travel covering sales outlook, demand forecast & up-to-date key trends
Luxury Travel Market by mode of transportation Type, Booking Channel, Tourist, Tour Type, Consumer Orientation, Age Group & Region - Forecast to 2022 – 2032
Luxury Travel Market Outlook – 2022-2032
[250 Pages Report] As per newly released data by Future Market Insights (FMI), the Luxury Travel Market is estimated at US$ 1,990.81 Billion in 2022 and is projected to reach US$ 2,105.12 Billion by 2032, at a CAGR of 6 % from 2022 to 2032.
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Attribute |
Details |
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Luxury Travel Market Estimated Size (2022) |
US$ 1,990.81 Billion |
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Luxury Travel Market Projected Size (2032) |
US$ 2,105.12 Billion |
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Luxury Travel Market Value-based CAGR (2022-2032) |
6 % |
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2017-2021 Luxury Travel Market Outlook Compared to 2022-2032 Forecast
The Luxury Travel market is forecasted to grow at a steady rate during the forecast period. The growth can be attributed to several reasons both international and domestic. Luxury travel services offer high-end, exclusive and customized facilities to enhances people’s overall experience during their stay. Nowadays many travel companies offer authentic holiday packages with unusual activities, off-the-beaten path and 24-hour support to attract a broad customer base and competitive edge. Growing demand of people towards exotic, luxury and unique experiences and increasing in middle-upper class spending and rise in online bookings and surge in social media usage and it helps to grow travel market and luxury Travel Market.
New Destinations and a demand for enhanced service standard are expected to create multiple opportunities for key market players.
The Trend of Luxury Travel gives Rise to Visitors in the Luxury Travel market.
The growing willingness among individuals to spend on luxury trips accommodation with exotic holiday experience increased disposable revenues and improved transportation infrastructure are important drivers of market growth. The emerging trend of modern campsites or innovative glamping accommodation, combined with increasing awareness of eco-friendly travel solutions, and it positively influencing the demand for luxury travel worldwide. Many tourism businesses are adopting state-of-the-art technologies, such as artificial intelligence(AI), to allow travelers to book their travel online.
In 2022, Voyaah, the tech-led luxury travel organisation has recently received its seed funding of US$500,000 from a well-known name in Advertising, the fresh funds will be used for expanding into newer areas, enhancing the product and technology in addition to hiring relevant talent.
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Talk to AnalystCountry-wise Insight
Why is New Zealand a popular destination for Luxury Travels?
“Variety of Luxury Experiences makes New Zealand a popular destination for Luxury Travels “
New Zealand has been a popular destination for Luxury Travellers. I have four reasons to say New Zealand is considering in luxury travels i.e., There are exceptional food and wine making experiences, exceptional outdoor adventures and outdoor activities, unparalleled landscapes and scenery, and compelling culture and history among luxury travels due to these couple of major reasons. Travellers can visit New Zealand at any time of the year. Its famous saying New Zealand has “four season in a day”. There are two luxury travel destinations in New Zealand is North Island and South Islands. New Zealand has plenty of premium luxury experiences like golf course, indulgent hot pools, sailing charters, private hiking trails, ski fields and fine dining’s.
Why Monaco is desirable destination for luxury travels due to its historical principalities?
“Historical principalities makes Monaco a Luxury Travel destination”
Monaco is second smallest nation it is famous for its grand casinos, grand shopping centers, opulent bars, clubs and human made beaches and it attracts celebrities and holiday makers. Best time to visit Monaco is in early autumn. An important fact about Monaco is every 3rd person is millennial and real estate business is expensive. The Monaco government tourist office launch “Green is the new Glam Campaign” the role of this campaign is both environmentally conscious and make it glamorous at the same time
What’s new in Luxury travels in Europe that helps in economy?
Europe is a major source market for Luxury Travel its growing fast. Tour operators provide high discounted offers, accommodation and food. The leading European source for tourism market are United Kingdom, France, and Germany. Online researches helps to grow fast in tourism market. Europe is an upscale tourism market and experience different activities like Slow Travels, private experiences, nature based experiences, ready to sell, etc. Also Europe is the number one destination for tourism. Government recommend to make more sustainable choices as they can do
Category-wise Insights
Which destinations are preferred by Travelers?
“Luxury Travel Market” Europe is most travelled Destination
Every place in the world has its history but what we love about Europe is that historic buildings and monuments are preserved. The most travelled destination is Europe because of its luxury travel market This is due to the ease of booking and accommodations one can avail of while visiting these Luxury locations. They are regulated and kept in good condition by the respected Luxury destinations, also offering the tourists all-inclusive packages and tours of the locations and related destinations. While famous destinations where popular places have been visit have also seen a surge in the number of visitors, helping generate revenue for the local economies.
Which Booking Channel is Preferred by the Consumers in the Luxury Travel Market?
“Online booking channels lead the booking channel segmentation”
With the extensive availability of the net and the net presence of top firms running with inside the marketplace, the reserving channels have specially shifted in the direction of the on line mode of bookings. This upward push is attributed because of the ever-increasing ease of the use of the net channel and the extensive range of excursion alternatives one gets from those platforms. Hassle-unfastened revel in and the consolation of reserving at your comfort also are the using elements on this case. The on line bookings channel is predicted to preserve on taking pictures the fundamental marketplace proportion and continue to be the maximum preferred
What Tour Type is Famous Amongst Tourists in the Luxury Travel Market?
“Packaged Traveler is the most prominent category”
With several corporations providing distinct offerings and all-inclusive applications, it has made the ‘Packaged Traveler’ the bulk class with inside the excursion kind segmentation. The corporations offer movie tourism applications with distinct activities, locations, and fee ranges; supporting fulfill the desires of the bulk of the client base without the need for them to undergo distinct channels for distinct offerings, saving them the trouble and cost. Thus making packaged travelers the norm with inside the movie tourism sector.
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Competitive Landscape
The competitive landscape of the industry was also considered with the profiles of major players Abercrombie & Kent USA LLC., Butterfield & Robinson Inc., Cox & Kings Ltd., Exodus Travels Limited (Travelopia), Kensington Tours Ltd., Micato Safaris, Scott Dunn Ltd., Tauck, Thomascook.in (Fair bridge Capital (Mauritius) Limited) and TUI Group.
For Instance:
- The construction process of the Uttar Pradesh (UP) Government-backed UP Film City project is expected to start in 2022, in Sector-21 of Yamuna Expressway Development Authority (YEIDA) area of Gautam Buddh Nagar district, this is expected to generate employment in the area, promote tourism, and help the firms in generating more revenue.
Scope of Report
|
Attribute |
Details |
|
Forecast Period |
2022-2032 |
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Historical Data Available for |
2017-2021 |
|
Market Analysis |
US$ Billion for Value |
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Key Regions Covered |
North America, Latin America, Europe, East Asia,South Asia, Oceania & MEA. |
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Key Countries Covered |
United States, Canada, Brazil, Mexico, Germany, U.K., France, Spain, Italy, Russia, Benelux, South Africa, Northern Africa, GCC Countries, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Australia & New Zealand. |
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Key Segments Covered |
Mode of transportation type, Booking Channel, Tourist Type, Tour Type, Consumer Orientation, Age Group, and Region |
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Key Companies Profiled |
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Report Coverage |
Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
|
Customization & Pricing |
Available upon Request |
The Luxury Travel Market by Category
By Mode of Transportation Type:
- Air Transportation
- Water Transportation
- Land Transportation
By Booking Channel:
- Phone Booking
- Online Booking
- In Person Booking
By Tourist Type:
- Domestic
- International
By Tour Type:
- Independent Traveller
- Package Traveller
- Tour Group
By Consumer Orientation:
- Men
- Women
By Age Group:
- 15-25 Years
- 26-35 Years
- 36-45 Years
- 46-55 Years
- 66-75 Years
Frequently Asked Questions
The Film Tourism market is currently valued at US$ 1,990.81 Billion in 2022.
The Film Tourism market is currently forecasted to grow at a rate of 6 % CAGR during the forecast period.
Driving trends in the Luxury Travel market are the increasing popularity of Luxury Travel worldwide and the ease of travel to such locations.
Leading players operating in the Luxury Travels at a global level are Abercrombie & Kent USA, LLC, Cox & Kings Ltd, Travcoa, Micato Safaris, Ker & Downey, Tauck, Thomas Cook Group PLC, Scott Dunn Ltd, Kensington Tours, and Butterfield & Robinson Inc.
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.1.1. Who Is Travelling?
1.1.2. How Much Do They Spend?
1.1.3. Direct Contribution of Tourism To GDP
1.1.4. Direct Contribution of Tourism To Employment
1.2. Tourism Evolution Analysis
1.3. FMI Analysis and Recommendations
2. Market Introduction
2.1. Total Spending (US$ Mn) and Forecast (2022-2032)
2.2. Number of Luxury Travel Market (Mn) and Forecast (2022-2032)
2.3. Total Spending Y-o-Y Growth Projections (2022-2032)
2.4. Number of Film based Tourists Y-o-Y Growth Projections
3. Global Tourism Industry Analysis
3.1. Tourism Industry Overview
3.1.1. Travel & Tourism Industry Contribution To Global GDP
3.1.1.1. Business Spending v/s Leisure Spending
3.1.1.2. Domestic v/s Foreign
3.1.1.3. Direct, Indirect, and Induced
3.1.2. Travel Sector Contribution To Global Overall Employment
3.1.3. Travel & Tourism Growth Rate
3.1.4. Foreign Visitor Exports As Percentage of Total Exports
3.1.5. Capital Investment In Travel & Tourism Industry
3.1.6. Different Components of Travel & Tourism
3.1.7. Global Tourism Industry Outlook
3.1.7.1. Cultural Tourism
3.1.7.2. Culinary Tourism
3.1.7.3. Eco/Sustainable Tourism
3.1.7.4. Sports Tourism
3.1.7.5. Spiritual Tourism
3.1.7.6. Wellness Tourism
3.1.7.7. Others
4. Global Luxury Travel Market Dynamics
4.1. Market Drivers & Opportunities
4.1.1. The Trend of Cultural Tourism Gives Rise to Visitors in the Luxury Travel Market
4.1.2. Globalization of Content and Ease of Travel Boosting the Market.
4.1.3. Others (during course study)
5. Market Background
5.1. Top 10 Luxury Travel Market Companies
5.2. Macro-Economic Factors
5.2.1. Global GDP Growth Outlook
5.2.2. Global Industry Value Added
5.2.3. Global Consumer Spending Outlook
5.2.4. Global Direct contribution of Travel & Tourism to GDP
5.2.5. Global Visitor Exports and International Tourist Arrivals
5.2.6. Capital Investment In Travel & Tourism
5.2.7. Top Tourism Spending Countries
5.3. Forecast Factors - Relevance & Impact
6. Categorizing of Global Luxury Travel Market 2021
6.1. Introduction/ Key Findings
6.2. Current Market Analysis by Mode if transportation Type (% of Demand)
6.2.1. Air Transportation
6.2.2. Water Transportation
6.2.3. And Land Transportation
6.3. Current Market Analysis by Booking Channel (% of Demand)
6.3.1. Phone Booking
6.3.2. Online Booking
6.3.3. In Person Booking
6.4. Current Market Analysis By Tourist Type (% of Demand)
6.4.1. Domestic
6.4.2. International
6.5. Current Market Analysis By Tour Type (% of Demand)
6.5.1. Independent Traveller
6.5.2. Tour Group
6.5.3. Package Traveller
6.6. Current Market Analysis By Consumer Orientation (% of Demand)
6.6.1. Men
6.6.2. Women
6.7. Current Market Analysis By Age Group (% of Demand)
6.7.1. 15-25 Years
6.7.2. 26-35 Years
6.7.3. 36-45 Years
6.7.4. 46-55 Years
6.7.5. 66-75 Years
6.8. Current Market Analysis By Region (% of Demand)
6.8.1. North America
6.8.2. Latin America
6.8.3. Europe
6.8.4. East Asia
6.8.5. South Asia
6.8.6. Oceania
6.8.7. MEA
6.9. Key Findings, By Each Category
7. Categorizing of Luxury Travel market 2021
7.1. Introduction/ Key Findings
7.2. Current Market Analysis by Mode of Transportation Type (% of Demand)
7.2.1. Air Transportation
7.2.2. Water Transportation
7.2.3. And Land Transportation
7.3. Current Market Analysis by Booking Channel (% of Demand)
7.3.1. Phone Booking
7.3.2. Online Booking
7.3.3. In Person Booking
7.4. Current Market Analysis By Tourist Type (% of Demand)
7.4.1. Domestic
7.4.2. International
7.5. Current Market Analysis By Tour Type (% of Demand)
7.5.1. Independent Traveler
7.5.2. Tour Group
7.5.3. Package Traveler
7.6. Current Market Analysis By Consumer Orientation (% of Demand)
7.6.1. Men
7.6.2. Women
7.7. Current Market Analysis By Age Group (% of Demand)
7.7.1. 15-25 Years
7.7.2. 26-35 Years
7.7.3. 36-45 Years
7.7.4. 46-55 Years
7.7.5. 66-75 Years
7.8. Current Market Analysis By Country (% of Demand)
7.8.1. US
7.8.2. Canada
7.9. Key Findings, By Each Category
8. Categorizing of Latin America Luxury Travel Market 2021
8.1. Introduction/ Key Findings
8.2. Current Market Analysis by Mode of Transportation Type (% of Demand)
8.2.1. Air Transportation
8.2.2. Water Transportation
8.2.3. Land Transportation
8.3. Current Market Analysis By Booking Channel (% of Demand)
8.3.1. Phone Booking
8.3.2. Online Booking
8.3.3. In Person Booking
8.4. Current Market Analysis By Tourist Type (% of Demand)
8.4.1. Domestic
8.4.2. International
8.5. Current Market Analysis By Tour Type (% of Demand)
8.5.1. Independent Traveler
8.5.2. Tour Group
8.5.3. Package Traveler
8.6. Current Market Analysis By Consumer Orientation (% of Demand)
8.6.1. Men
8.6.2. Women
8.7. Current Market Analysis By Age Group (% of Demand)
8.7.1. 15-25 Years
8.7.2. 26-35 Years
8.7.3. 36-45 Years
8.7.4. 46-55 Years
8.7.5. 66-75 Years
8.8. Current Market Analysis By Country (% of Demand)
8.8.1. Brazil
8.8.2. Mexico
8.8.3. Argentina
8.8.4. Colombia
8.8.5. Rest of LA
8.9. Key Findings, By Each Category
9. Categorizing of Europe Luxury Travel Market 2021
9.1. Introduction/ Key Findings
9.2. Current Market Analysis By Mode of Transportation Type (% of Demand)
9.2.1. Air Transportation
9.2.2. Water Transportation
9.2.3. And Land Transportation
9.3. Current Market Analysis By Booking Channel (% of Demand)
9.3.1. Phone Booking
9.3.2. Online Booking
9.3.3. In Person Booking
9.4. Current Market Analysis By Tourist Type (% of Demand)
9.4.1. Domestic
9.4.2. International
9.5. Current Market Analysis By Tour Type (% of Demand)
9.5.1. Independent Traveler
9.5.2. Tour Group
9.5.3. Package Traveler
9.6. Current Market Analysis By Consumer Orientation (% of Demand)
9.6.1. Men
9.6.2. Women
9.7. Current Market Analysis By Age Group (% of Demand)
9.7.1. 15-25 Years
9.7.2. 26-35 Years
9.7.3. 36-45 Years
9.7.4. 46-55 Years
9.7.5. 66-75 Years
9.8. Current Market Analysis By Country (% of Demand)
9.8.1. Germany
9.8.2. Russia
9.8.3. France
9.8.4. Italy
9.8.5. UK
9.8.6. Rest of Europe
9.9. Key Findings, By Each Category
10. Categorizing of East Asia Luxury Travel Market 2021
10.1. Introduction/ Key Findings
10.2. Current Market Analysis By Mode of Transportation Type (% of Demand)
10.2.1. Air Transportation
10.2.2. Water Transportation
10.2.3. And Land Transportation
10.3. Current Market Analysis By Booking Channel (% of Demand)
10.3.1. Phone Booking
10.3.2. Online Booking
10.3.3. In Person Booking
10.4. Current Market Analysis By Tourist Type (% of Demand)
10.4.1. Domestic
10.4.2. International
10.5. Current Market Analysis By Tour Type (% of Demand)
10.5.1. Independent Traveler
10.5.2. Tour Group
10.5.3. Package Traveler
10.6. Current Market Analysis By Consumer Orientation (% of Demand)
10.6.1. Men
10.6.2. Women
10.7. Current Market Analysis By Age Group (% of Demand)
10.7.1. 15-25 Years
10.7.2. 26-35 Years
10.7.3. 36-45 Years
10.7.4. 46-55 Years
10.7.5. 66-75 Years
10.8. Current Market Analysis By Country (% of Demand)
10.8.1. China
10.8.2. Japan
10.8.3. South Korea
10.9. Key Findings, By Each Category
11. Categorizing of South Asia Luxury Travel Market 2021
11.1. Introduction/ Key Findings
11.2. Current Market Analysis By Mode of Transportation Type (% of Demand)
11.2.1. Air Transportation
11.2.2. Water Transportation
11.2.3. And Land Transportation
11.3. Current Market Analysis By Booking Channel (% of Demand)
11.3.1. Phone Booking
11.3.2. Online Booking
11.3.3. In Person Booking
11.4. Current Market Analysis By Tourist Type (% of Demand)
11.4.1. Domestic
11.4.2. International
11.5. Current Market Analysis By Tour Type (% of Demand)
11.5.1. Independent Traveler
11.5.2. Tour Group
11.5.3. Package Traveler
11.6. Current Market Analysis By Consumer Orientation (% of Demand)
11.6.1. Men
11.6.2. Women
11.7. Current Market Analysis By Age Group (% of Demand)
11.7.1. 15-25 Years
11.7.2. 26-35 Years
11.7.3. 36-45 Years
11.7.4. 46-55 Years
11.7.5. 66-75 Years
11.8. Current Market Analysis By Country (% of Demand)
11.8.1. India
11.8.2. Malaysia
11.8.3. Indonesia
11.8.4. Thailand
11.8.5. Philippines
11.8.6. Cambodia
11.8.7. Vietnam
11.8.8. Rest of SA
11.9. Key Findings, By Each Category
12. Categorizing of Oceania Luxury Travel Market 2021
12.1. Introduction/ Key Findings
12.2. Current Market Analysis By Mode of Transportation Type (% of Demand)
12.2.1. Air Transportation
12.2.2. Water Transportation
12.2.3. And Land Transportation
12.3. Current Market Analysis By Booking Channel (% of Demand)
12.3.1. Phone Booking
12.3.2. Online Booking
12.3.3. In Person Booking
12.4. Current Market Analysis By Tourist Type (% of Demand)
12.4.1. Domestic
12.4.2. International
12.5. Current Market Analysis By Tour Type (% of Demand)
12.5.1. Independent Traveler
12.5.2. Tour Group
12.5.3. Package Traveler
12.6. Current Market Analysis By Consumer Orientation (% of Demand)
12.6.1. Men
12.6.2. Women
12.7. Current Market Analysis By Age Group (% of Demand)
12.7.1. 15-25 Years
12.7.2. 26-35 Years
12.7.3. 36-45 Years
12.7.4. 46-55 Years
12.7.5. 66-75 Years
12.8. Current Market Analysis By Country (% of Demand)
12.8.1. Australia
12.8.2. New Zealand
12.9. Key Findings, By Each Category
13. Categorizing of Middle East and Africa Luxury Travel market 2021
13.1. Introduction/ Key Findings
13.2. Current Market Analysis By Mode of Transportation Type (% of Demand)
13.2.1. Air Transportation
13.2.2. Water Transportation
13.2.3. And Land Transportation
13.3. Current Market Analysis By Booking Channel (% of Demand)
13.3.1. Phone Booking
13.3.2. Online Booking
13.3.3. In Person Booking
13.4. Current Market Analysis By Tourist Type (% of Demand)
13.4.1. Domestic
13.4.2. International
13.5. Current Market Analysis By Tour Type (% of Demand)
13.5.1. Independent Traveler
13.5.2. Tour Group
13.5.3. Package Traveler
13.6. Current Market Analysis By Consumer Orientation (% of Demand)
13.6.1. Men
13.6.2. Women
13.7. Current Market Analysis By Age Group (% of Demand)
13.7.1. 15-25 Years
13.7.2. 26-35 Years
13.7.3. 36-45 Years
13.7.4. 46-55 Years
13.7.5. 66-75 Years
13.8. Current Market Analysis By Country (% of Demand)
13.8.1. Turkey
13.8.2. South Africa
13.8.3. UAE
13.8.4. Egypt
13.8.5. Jordan
13.8.6. Rest of MEA
13.9. Key Findings, By Each Category
14. Competition Analysis
14.1. Competition Dashboard
14.2. Competition Benchmarking
14.3. Competition Deep Dive
14.3.1. Abercrombie & Kent
14.3.1.1. Overview
14.3.1.2. Service Portfolio
14.3.1.3. Strategy Overview/campaigns
14.3.2. USA, LLC, Cox & Kings Ltd.
14.3.2.1. Overview
14.3.2.2. Service Portfolio
14.3.2.3. Strategy Overview/campaigns
14.3.3. Travcoa
14.3.3.1. Overview
14.3.3.2. Service Portfolio
14.3.3.3. Strategy Overview/campaigns
14.3.4. Micato Safaris
14.3.4.1. Overview
14.3.4.2. Service Portfolio
14.3.4.3. Strategy Overview/campaigns
14.3.5. Ker & Downey
14.3.5.1. Overview
14.3.5.2. Service Portfolio
14.3.5.3. Strategy Overview/campaigns
14.3.6. Tauck
14.3.6.1. Overview
14.3.6.2. Service Portfolio
14.3.6.3. Strategy Overview/campaigns
14.3.7. homas Cook Group PLC
14.3.7.1. Overview
14.3.7.2. Service Portfolio
14.3.7.3. Strategy Overview/campaigns
14.3.8. Scott Dunn Ltd
14.3.8.1. Overview
14.3.8.2. Service Portfolio
14.3.8.3. Strategy Overview/campaigns
14.3.9. Kensington Tours
14.3.9.1. Overview
14.3.9.2. Service Portfolio
14.3.9.3. Strategy Overview/campaigns
14.3.10. Butterfield & Robinson Inc.
14.3.10.1. Overview
14.3.10.2. Service Portfolio
14.3.10.3. Strategy Overview/campaigns
14.3.11. Other Players (As Per Request)
15. Social Media Sentimental Analysis
15.1. Social Media Platforms Preferred
15.1.1. Facebook
15.1.2. YouTube
15.1.3. Instagram
15.1.4. Twitter
15.1.5. LinkedIn
15.1.6. Pinterest
15.1.7. Google+
15.1.8. Others
15.2. Perceptions on the Proposed Luxury Travel Tour Package
15.3. Consumer Perception for Destinations On Social Media Platforms-Positive and Negative Mentions
15.4. Trending #Hashtags
15.5. Social Media Platform Mentions (% of Total Mentions)
15.6. Region-Wise Social Media Mentions (% of Total Mentions)
15.7. Trending Subject Titles
16. Assumptions and Acronyms Used
17. Research Methodology
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