The potential growth difference for the luxury travel market between 2020 and 2025 is USD 1.23 trillion. To get the exact yearly growth variance and the Y-O-Y growth rate, Talk to our analyst.
Key Market Dynamics: Drivers & Challenges
- Market Driver - The key factor driving growth in the luxury travel market is the increasing disposable income. Factors such as the rise in dual household income, per capita income, and rapid growth in the employment rate have driven the increase in disposable incomes worldwide. The growth in disposable income is expected to increase the spending and purchasing power of consumers. The boom in the tourism industry has also encouraged consumers to spend on travel and leisure activities with exotic holiday experiences. Therefore, the increasing disposable income boosts the demand for luxurious travel to different destinations across the world, which, in turn, is fostering the growth of the global luxury travel market.
- Market Challenges - The inconsistent service quality will be a major challenge for the luxury travel market. The market vendors deal with diverse customers from different geographies. To maximize the degree of customer satisfaction, the vendors must cater to diverse preferences and seasonal demand. In addition, the high degree of diversity and inconsistency in supplier offerings impacts the quality of services offered by the existing market vendors. Thus, inconsistencies in a certain element in the value chain, such as a delay in service delivery or bad customer service, impact other elements as well. Fake advertisements often contribute to increased customer dissatisfaction, especially for luxury travel where the travelers pay a high amount for packages. Poor transportation and hospitality infrastructure in developing countries, especially in traditional and historic places, also pose a significant challenge to the global luxury travel market
To learn about additional key drivers, trends, and challenges- Read our FREE Sample
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Key Market Dynamics: Segmentation Analysis
The luxury travel market report is segmented by Type (Adventure, Personalized, Cruising and yachting, Culinary, and Others) and Geography (Europe, North America, APAC, MEA, and South America).
Technavio report provides an accurate prediction of the contribution of all the segments to the growth of the luxury travel market size and actionable market insights on each segment.
View our sample report for additional insights into the contribution of all the segments,
and regional opportunities in the report.
Some Companies Mentioned
The luxury travel market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
- Abercrombie & Kent USA LLC
- Absolute Travel Inc.
- Butterfield & Robinson Inc.
- Classic Journeys
- Cox & Kings Ltd.
- Indigenous Tourism BC
- Odyssey World
- Responsible Travel
- Scott Dunn
- Travelopia
- To gain access to more vendor profiles with their key offerings available with
Technavio, Click Here
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Luxury Travel Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Decelerate at a CAGR of 26% |
Market growth 2021-2025 |
USD 1.23 trillion |
Market structure |
Fragmented |
YoY growth (%) |
45.30 |
Performing market contribution |
Europe at 30% |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Abercrombie & Kent USA LLC, Absolute Travel Inc., Butterfield & Robinson Inc., Classic Journeys, Cox & Kings Ltd., Indigenous Tourism BC, Odyssey World, Responsible Travel, Scott Dunn, and Travelopia |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Key Topics Covered:
1. Executive Summary
2. Market Landscape
2.1 Market ecosystem
Exhibit 01: Parent market
2.2 Market Characteristics
Exhibit 02: Market Characteristics
2.3 Value chain analysis
Exhibit 03: Value chain: Global hotels, restaurants, and leisure market
2.3.1 Inputs
2.3.2 Inbound logistics
2.3.3 Operations
2.3.4 Outbound logistics
2.3.5 Marketing and sales
2.3.6 Service
2.2.6 Support activities
2.2.7 Innovation
3. Market Sizing
3.1 Market definition
Exhibit 04: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 05: Market segments
3.3 Market size 2020
3.4 Market outlook: Forecast for 2020 - 2025
Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ billion)
Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)
4. Five Forces Analysis
4.1 Five Forces Summary
Exhibit 08: Five forces analysis 2020 & 2025
4.2 Bargaining power of buyers
4.3 Bargaining power of suppliers
4.4 Threat of new entrants
4.5 Threat of substitutes
4.6 Threat of rivalry
4.7 Market condition
Market condition - Five forces 2020
5. Market Segmentation by type
The segments covered in this chapter are:
- Adventure
- Personalized
- Cruising and yachting
- Culinary
- Others
5.1 Market segments
Exhibit 15: Type - Market share 2020-2025 (%)
5.2 Comparison by Type
Exhibit 16: Comparison by Type
5.3 Adventure - Market size and forecast 2020-2025
Exhibit 17: Adventure - Market size and forecast 2020-2025 ($ billion)
Exhibit 18: Adventure - Year-over-year growth 2020-2025 (%)
5.4 Personalized - Market size and forecast 2020-2025
Exhibit 19: Personalized - Market size and forecast 2020-2025 ($ billion)
Exhibit 20: Personalized - Year-over-year growth 2020-2025 (%)
5.5 Cruising and yachting - Market size and forecast 2020-2025
Exhibit 21: Cruising and yachting - Market size and forecast 2020-2025 ($ billion)
Exhibit 22: Cruising and yachting - Year-over-year growth 2020-2025 (%)
5.6 Culinary - Market size and forecast 2020-2025
Exhibit 23: Culinary - Market size and forecast 2020-2025 ($ billion)
Exhibit 24: Culinary - Year-over-year growth 2020-2025 (%)
5.7 Others - Market size and forecast 2020-2025
Exhibit 25: Others - Market size and forecast 2020-2025 ($ billion)
Exhibit 26: Others - Year-over-year growth 2020-2025 (%)
5.8 Market opportunity by Type
Exhibit 27: Market opportunity by Type
6. Market Segmentation by Consumer
The segments covered in this chapter are:
6.1 Market segments
Exhibit 28: Consumer - Market share 2020-2025 (%)
6.2 Comparison by Consumer
Exhibit 29: Comparison by Consumer
6.3 Domestic - Market size and forecast 2020-2025
Exhibit 30: Domestic - Market size and forecast 2020-2025 ($ billion)
Exhibit 31: Domestic - Year-over-year growth 2020-2025 (%)
6.4 International - Market size and forecast 2020-2025
Exhibit 32: International - Market size and forecast 2020-2025 ($ billion)
Exhibit 33: International - Year-over-year growth 2020-2025 (%)
6.5 Market opportunity by Consumer
Exhibit 34:Market opportunity by Consumer
7. Customer landscape
Exhibit 31: Customer landscape
8. Geographic Landscape
The regions covered in the report are:
- Europe
- North America
- APAC
- MEA
- South America
8.1 Geographic segmentation
Exhibit 36: Market share by geography 2020-2025 (%)
8.2 Geographic comparison
Exhibit 37: Geographic comparison
8.3 Europe - Market size and forecast 2020-2025
Exhibit 38: Europe - Market size and forecast 2020-2025 ($ billion)
Exhibit 39: Europe - Year-over-year growth 2020-2025 (%)
8.4 North America - Market size and forecast 2020-2025
Exhibit 40: North America - Market size and forecast 2020-2025 ($ billion)
Exhibit 41: North America - Year-over-year growth 2020-2025 (%)
8.5 APAC - Market size and forecast 2020-2025
Exhibit 42: APAC - Market size and forecast 2020-2025 ($ billion)
Exhibit 43: APAC - Year-over-year growth 2020-2025 (%)
8.6 MEA - Market size and forecast 2020-2025
Exhibit 44: MEA - Market size and forecast 2020-2025 ($ billion)
Exhibit 45: MEA - Year-over-year growth 2020-2025 (%)
8.7 South America - Market size and forecast 2020-2025
Exhibit 46: South America - Market size and forecast 2020-2025 ($ billion)
Exhibit 47: South America - Year-over-year growth 2020-2025 (%)
8.8 Key leading countries
Exhibit 48: Key leading countries
8.9 Market opportunity by geography
9. Drivers, Challenges, and Trends
9.1 Market drivers
9.1.1 Increasing disposable incomes
9.1.2 Advances in technology
9.1.3 Growing digital connectivity
9.1.4 Increased preference for luxury travel to break monotony
9.2 Market challenges
9.2.1 Inconsistent service quality
9.2.2 Threat of natural calamities and other issues
9.2.3 Travel fatigue
Exhibit 50: Impact of drivers and challenges
9.3 Market trends
9.3.1 Trending sports tourism
9.3.2 Growing demand for multigenerational and micro trips
9.3.3 Higher acceptance of online travel agencies
9.3.4 Personalization of guest data
10. Vendor Landscape
10.1 Competitive scenario
10.2 Vendor landscape
Exhibit 51: Vendor landscape
10.3 Landscape disruption
The potential for the disruption of the market landscape was moderate in 2020, and its threat is expected to remain unchanged by 2025.
Exhibit 52: Landscape disruption
10.4 Industry risks
Exhibit 53: Industry risks
11. Vendor Analysis
11.1 Vendors covered
Exhibit 54: Vendors covered
11.2 Market positioning of vendors
Exhibit 55: Market positioning of vendors
11.3 Abercrombie & Kent USA LLC
Exhibit 56: Abercrombie & Kent USA LLC - Overview
Exhibit 57: Abercrombie & Kent USA LLC - Product and service
Exhibit 58: Abercrombie & Kent USA LLC – Key news
Exhibit 59: Abercrombie & Kent USA LLC - Key offerings
11.4 Absolute Travel Inc
Exhibit 60: Absolute Travel Inc. - Overview
Exhibit 61: Absolute Travel Inc. - Product and service
Exhibit 62: Absolute Travel Inc. - Key offerings
11.5 Butterfield & Robinson Inc.
Exhibit 63: Butterfield & Robinson Inc. - Overview
Exhibit 64: Butterfield & Robinson Inc. - Product and service
Exhibit 65: Butterfield & Robinson Inc. - Key offerings
11.6 Classic Journeys
Exhibit 66: Classic Journeys - Overview
Exhibit 67: Classic Journeys - Product and service
Exhibit 68: Classic Journeys – Key news
Exhibit 69: Classic Journeys - Key offerings
11.7 Cox & Kings Ltd
Exhibit 70: Cox & Kings Ltd. - Overview
Exhibit 71: Cox & Kings Ltd. - Product and service
Exhibit 72: Cox & Kings Ltd. – Key news
Exhibit 73: Cox & Kings Ltd. - Key offerings
11.8 Indigenous Tourism BC
Exhibit 74: Indigenous Tourism BC - Overview
Exhibit 75: Indigenous Tourism BC - Product and service
Exhibit 76: Indigenous Tourism BC – Key news
Exhibit 77: Indigenous Tourism BC - Key offerings
11.9 Odyssey World
Exhibit 78: Odyssey World - Overview
Exhibit 79: Odyssey World - Product and service
Exhibit 80: Odyssey World – Key news
Exhibit 81: Odyssey World - Key offerings
11.10 Responsible Travel
Exhibit 82: Responsible Travel - Overview
Exhibit 83: Responsible Travel - Product and service
Exhibit 84: Responsible Travel - Key offerings
11.11 Scott Dunn
Exhibit 85: Scott Dunn - Overview
Exhibit 86: Scott Dunn - Product and service
Exhibit 87: Scott Dunn - Key offerings
11.12 Travelopia
Exhibit 88: Travelopia - Overview
Exhibit 89: Travelopia - Product and service
Exhibit 90: Travelopia – Key news
Exhibit 91: Travelopia - Key offerings
12. Appendix
12.1 Scope of the report
12.1.1 Market definition
12.1.2 Objectives
12.1.3 Notes and caveats
12.2 Currency conversion rates for US$
Exhibit 92: Currency conversion rates for US$
12.3 Research Methodology
Exhibit 93: Research Methodology
Exhibit 94: Validation techniques employed for market sizing
Exhibit 95: Information sources
12.4 List of abbreviations
Exhibit 96: List of abbreviations
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