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Luxury Travel Market to Hit USD 2,728.80 Bn and Emergent at Growth Rate of 11.2 percent by 2029 Trends, Forecast, Competitive Landscape

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Luxury Travel Market to Hit USD 2,728.80 Bn and Emergent at Growth Rate of 11.2 percent by 2029 Trends, Forecast, Competitive Landscape

December 08
14:00 2022
Luxury Travel Market to Hit USD 2,728.80 Bn and Emergent at Growth Rate of 11.2 percent by 2029 Trends, Forecast, Competitive Landscape
Luxury Travel Market
Luxury Travel Market was valued at USD 1,167.17 Billion in 2021, and is expected to reach USD 2,728.80 Billion by 2029, exhibiting a CAGR of 11.2 % during the forecast period (2022-2029)

Pune, 7, Nov2022: The Luxury Travel Market report published by Maximize market Research, the market is expected to grow from USD 1,167.17 billion in 2021 to USD 2,728.80 billion in 2029, at a CAGR of 11.2 percent for the forecast period from 2022 to 2029.

Luxury Travel Market Scope and Research Methodology

The Luxury Travel Market report projects revenue growth at the international and national levels and analyses the most recent market tendencies in each of the sub-segments over the course of the forecast period. The worldwide Luxury Travel Market study has been into segmented by Types of Tour, Age Group, Type of Traveller, and region. The study includes strategic profiles of the leading market players, a thorough analysis of their core capabilities, and their business-specific strategies for new product launches, expansion, agreements, joint ventures, partnerships, and acquisitions. The report offers data in the form of pivot tables and excel files, or presentations using the data sets in the report.

The research is an in-depth analysis of the Luxury Travel Market, covering all the key factors like segments, national, regional, and international presence. The growth rate, market size, and present and future trends in the Luxury Travel industry are assessed using data collected from past. For a better knowledge of market penetration, competitive structure, pricing, and demand analysis, regional analyses of the market are undertaken at the local, regional, and worldwide levels. In order to assist investors and large corporations in making investment and strategic business decisions, the study also covers the tactics employed by important players and provides an analysis of those strategies based on their growth during the last 5 years in the market..

The size of the market has been estimated using a bottom-up approach. Secondary research is used to identify the key players in the Luxury Travel Market, and primary and secondary research is used to estimate their market revenues. While primary research involved interviews with significant opinion leaders and industry experts such competent front-line staff, business owners, and marketing specialists, secondary research included a review of annual and financial reports of top manufacturers. SWOT analysis was used to provide the strengths and weaknesses of the Luxury Travel Market while PESTLE was employed to understand the potential impact of the micro-economic factors affecting the Luxury Travel Market.

Request Free Sample Copy (To Understand the Complete Structure of this Report [Summary + TOC]) @ https://www.maximizemarketresearch.com/request-sample/121614 

Luxury Travel Market Overview

The Luxury Travel Industry represents the most attractive locations, lavish lodgings, convenient transportation options, and genuine travel experiences. The goal of luxury travel is to provide tourists with unusual experiences like jet flights, specialised food, renting private islands, and private boats are just a few of the amenities accessible to high-end guests. The most sought-after luxury vacation destinations are in Europe and North America.  

Luxury Travel Market Dynamics

To escape from their demanding daily schedules and gain useful experiences, travellers are choosing unusual and exotic vacation destinations. Locations that are private, quiet, peaceful, and exotic are important factors that people take into account when choosing a destination. This Growing Inclination of People towards unique and exotic holiday Experiences to Drive the Growth of Luxury Travel Market.

The development of technology has enhanced consumer confidence when making travel arrangements using devices like computers and smartphones. The younger, tech-savvy population, which favours the internet as a travel booking medium, is primarily responsible for driving the online booking business. An increase in number of people are preferring to make purchases online since it is so easy to compare various prices and packages there.

Attacks by terrorists, political unrest, and riots are all on the rise, endangering the expansion of luxury travel in the future. The hazards associated with travel and the government authorities warnings to stay away from such travel, the tourism industry has noticed a fall in holiday bookings. Concerns about traveller safety are a major setback for areas where there is a higher likelihood of violence. The expansion of the luxury travel business is being restrained by safety concerns of the traveller.

Luxury Travel Market Regional Insights

In 2021, Europe had the largest Luxury Travel Market revenue. During the forecast period, Europe is expected to continue to lead the luxury travel market. Germany and Italy are now the most sought-after luxury tourism destinations in Europe. The two countries with the most luxury travellers in 2021 were the United States and China, while the majority of European luxury travellers came from the United Kingdom, followed by France and Germany. Arrivals of foreign tourists to Europe rose by 6% in 2021. For travellers looking for a far-off and completely different climatic journey, Europe is considered as a long-distance destination. 

Luxury Travel Market Segmentation 

By Types of Tour: 

  • Customized and Private Vacations
  • Adventure & Safari
  • Cruise/Ship Expedition
  • Small Group Journey
  • Celebration and Special Events
  • Culinary Travel and Shopping

By Age Group:

  • Millennials
  • Generation X
  • Baby Boomers
  • Silver Hair

By Type of Traveller: 

  • Absolute luxury
  • Aspiring luxury
  • Accessible luxury

Luxury Travel Market Key Manufacturers are: 

  • Abercrombie & Kent USA, LLC
  • Virtuoso, Ltd.
  • Scott Dunn Ltd
  • Butterfield & Robinson Inc
  • TUI AG
  • Travcoa Corporation
  • Micato Safaris, Inc.
  • Ker & Downey
  • Tauck, Inc.
  • Black Tomato Group
  • Thomas Cook Group Plc
  • Cox & Kings Ltd
  • Kensington Tours Ltd
  • Zicasso, Inc.
  • Backroads
  • Lindblad Expeditions
  • Exodus Travels

Key questions answered in the Luxury Travel Market are: 

  • What is Luxury Travel Market? 
  • How big is the Luxury Travel Market? 
  • What is the CAGR of Luxury Travel Market? 
  • Who are the key players in the Luxury Travel Market?
  • Who are the market leaders in Luxury Travel Market in Europe?
  • Who are the market leaders in Luxury Travel Market in USA and Canada?
  • Who are the market leaders in Luxury Travel Market in India, China, Japan and South Korea?
  • What are the factors affecting growth in the Luxury Travel Market? 
  • Who held the largest market share in Luxury Travel Market? 
  • What are the factors for the growth of Asia-Pacific region in Luxury Travel Market?

For Detailed insights on this market, request for methodology here @ https://www.maximizemarketresearch.com/request-sample/121614 

Key Offerings: 

  • Market Share, Size & Forecast by Revenue | 2022−2029
  • Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
  • Market Segmentation – A detailed analysis by Tour, Age Group, Type of Traveller and Region.
  • Competitive Landscape – Top Key Vendors and Other Prominent Vendors

Maximize Market Research is leading Automotive and Transportation research firm, has also published the following reports:

Yacht Market –The Yacht Market size is expected to reach USD 16.4 billion by 2029 at a CAGR of 6.58 percent during the forecast period. The Yacht Market is expected to be driven by growing disposable income globally, the use of alternative energy sources, and an increase in the number of high-net-worth individuals are all factors contributing to the growth of the yacht charter market. 

Wellness Tourism Market –The Wellness Tourism Market size is expected to reach USD 1192.9 billion by 2029 at a CAGR of 7.2 percent during the forecast period. Wellness Tourism Market is expected to be driven by the increased need to maintain health via various psychological, spiritual, and physical activities, spa therapies and relaxing treatments. The worldwide wellness tourism market is expected to have significant development thanks to the rising demand for refreshing activities like exercise, meditation, and traditional therapies as well as wholesome food.

About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

Contact Maximize Market Research:

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Pune, Maharashtra 411041, India

[email protected]

+91 96071 95908, +91 9607365656

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Website: https://www.maximizemarketresearch.com/market-report/global-luxury-travel-market/121614/

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