NEW YORK, Nov. 21, 2022 /PRNewswire/ -- The Global Luxury Travel Market share is set to increase by USD 703.14 billion from 2022 to 2027. Moreover, the market's growth momentum will accelerate at a CAGR of 11.5% as per the latest market forecast report by Technavio. The market will also record a 10.35% Y-O-Y growth rate during the forecast period. To know more about the historic market size– Request a Free Sample Report!
Global Luxury Travel Market - Parent Market Analysis
Technavio categorizes the global luxury travel market as a part of the global hotels, resorts, and cruise lines market within the global hotels, restaurants, and leisure market. The parent market, the global hotels, resorts, and cruise lines market, covers companies engaged in operating hotels, resorts, and cruise ships, including travel agencies, tour operators, and related services. Technavio calculates the global hotels, restaurants, and leisure industry market size based on combined revenue generated by companies of casinos and gaming; leisure facilities; hotels, resorts, and cruise lines; and restaurants.
For more information parent market along with value chain analysis – Grab an Exclusive sample!
Global Luxury Travel Market Characteristics with Five Forces–
The Global Luxury Travel Market is fragmented, and the five forces analysis by Technavio gives an accurate vision –
- Bargaining Power of Buyers
- The threat of New Entrants
- Threat of Rivalry
- Bargaining Power of Suppliers
- For information on the impact of the five forces analysis– Click Now!
Global Luxury Travel Market – Customer Landscape
- The disruption threats are strategic in nature, and operational risks for suppliers have been mapped based on their negative business impact and probability of occurrence.
- The potential for the customer landscape will be available with Technavio Reports – Buy Now!
Global Luxury Travel Market - Segmentation Assessment
Geography Segment Overview
Technavio's market research report entails detailed information on regional opportunities in store for vendors, which will assist in generating sales revenues. The Global Luxury Travel Market as per geography is categorized into North America, Europe, APAC, South America, and the Middle East and Africa. The report provides an accurate prediction of the contribution of all regions to the growth of the Global Luxury Travel Market size and actionable market understandings.
Regional Highlights
- Europe is the fastest-growing region in the global luxury travel market compared to other regions. 29% of the market's growth will originate from this region. The growth of this segment is attributed to factors such as the growing disposable income, the presence of numerous exotic destinations, the increasing spending capacity of Baby Boomers, the availability of easy transport facilities, the increasing demand for personalized vacations, the rapid increase in the number of food and beverage festivals, and the presence of major vendors.
Consumer Segment Overview
- The Global Luxury Travel Market as per consumer segmentation is categorized into Domestic and International.
- Revenue Generating Segment - The luxury travel market share growth by the domestic segment will be significant during the forecast period. The growth of the domestic segment is attributed to factors such as the lack of currency exchange issues, favorable government regulations, and familiarity with culture and language. Moreover, domestic luxury travel is cost-effective when compared to international travel.
Download a FREE Sample Report that can help you to strategize your sales revenue - Get it now!
Global Luxury Travel Market – Market Dynamics
Major Driver Boosting the Market
- Increasing disposable incomes are driving the luxury travel market growth.
- Factors such as the increase in the number of dual households, rise in per capita income, and growth in the employment rate have led to an increase in disposable incomes worldwide.
- The rise in disposable income is expected to increase the spending and purchasing power of consumers.
- Therefore, the demand for luxury travel is increasing across the world, which, in turn, is fueling the growth of the market during the forecast period.
Major trends influencing the growth of the market
- Sports tourism is a primary trend in the market.
- The popularity of sports tourism has gained significantly in the last few years. As a result, a large number of sports enthusiasts are attending sporting events such as the Olympics, the Super Bowl, the Federation Internationale de Football Association (FIFA) World Cup, and the Cricket World Cup.
- Therefore, with the rising interest in sports, sports travel and tourism have been increasing every year.
- These factors will support the growth of the market during the forecast period.
Major Challenges Interrupting the Market Growth
- The threat of natural calamities and other issues may challenge the luxury travel market growth.
- The global travel and tourism industry is facing issues such as political unrest and a sudden outbreak of infectious diseases. The rising number of COVID-19 cases led to the suspension of travel activities, which negatively affected the overall tourism industry.
- In addition, the threat of natural calamities and other issues can also impact the revenue growth of the luxury travel market during the forecast period.
To know about other factors of market dynamics – Request a Free Sample!
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio's in-depth research has direct and indirect COVID-19-impacted market research reports.
Register for a free trial today and gain instant access to 17,000+ market research reports.
Technavio's SUBSCRIPTION platform
Luxury Travel Market 2023-2027: Key Highlights
- CAGR of the market during the forecast period 2023-2027
- Detailed information on factors that will luxury travel market growth during the next five years
- Estimation of the luxury travel market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the luxury travel market
- Analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of luxury travel market vendors
Related Reports
- The travel market is projected to grow by USD 451.19 billion with a CAGR of 13.86% during the forecast period 2021 to 2026. The market is segmented by sector (airline, hotel, travel activities, and others) and geography (North America, Europe, APAC, South America, and the Middle East and Africa).
- The travel services market share in India is projected to grow by USD 11.78 billion with a CAGR of 11.38% during the forecast period 2021 to 2026. The market is segmented by booking (online and offline) and service (domestic flight services, hotel accommodation services, rail ticket services, cab services, and others).
Luxury Travel Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2022 |
Historical year |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 11.5% |
Market growth 2023-2027 |
USD 703.14 billion |
Market structure |
Fragmented |
YoY growth (%) |
10.35 |
Regional analysis |
Europe, North America, APAC, the Middle East and Africa, and South America |
Performing market contribution |
Europe at 29% |
Key consumer countries |
US, China, Germany, France, and UK |
Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
Key companies profiled |
Abercrombie & Kent USA LLC, Butterfield & Robinson Inc., Classic Journeys, Exodus Travels Ltd., G Adventures, Indigenous Tourism BC, Intrepid Group, Lindblad Expeditions Holdings Inc., Micato Safaris Inc., Myths And Mountains Inc., Odyssey World, Responsible Travel, Scott Dunn Ltd., Tandem Travel OOD, Tauck Inc., Travelopia Group, Wilderness Travel Inc., Geographic Expeditions Inc., and Absolute Travel Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and 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. |
Browse Consumer Discretionary Market Reports
Table of Contents
1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Consumer
- Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
- Exhibit 07: Executive Summary – Chart on Incremental Growth
- Exhibit 08: Executive Summary – Data Table on Incremental Growth
- Exhibit 09: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 10: Parent market
- Exhibit 11: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 12: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 13: Market segments
- 3.3 Market size 2022
- 3.4 Market outlook: Forecast for 2022-2027
- Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ billion)
- Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ billion)
- Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
- Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)
4 Historic Market Size
- 4.1 Global luxury travel market 2017 - 2021
- Exhibit 18: Historic Market Size – Data Table on Global luxury travel market 2017 - 2021 ($ billion)
- 4.2 Consumer Segment Analysis 2017 - 2021
- Exhibit 19: Historic Market Size – Consumer Segment 2017 - 2021 ($ billion)
- 4.3 Type Segment Analysis 2017 - 2021
- Exhibit 20: Historic Market Size – Type Segment 2017 - 2021 ($ billion)
- 4.4 Geography Segment Analysis 2017 - 2021
- Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ billion)
- 4.5 Country Segment Analysis 2017 - 2021
- Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ billion)
5 Five Forces Analysis
- 5.1 Five forces summary
- Exhibit 23: Five forces analysis - Comparison between2022 and 2027
- 5.2 Bargaining power of buyers
- Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
- 5.3 Bargaining power of suppliers
- Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
- 5.4 Threat of new entrants
- Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
- 5.5 Threat of substitutes
- Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
- 5.6 Threat of rivalry
- Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
- 5.7 Market condition
- Exhibit 29: Chart on Market condition - Five forces 2022 and 2027
6 Market Segmentation by Consumer
- 6.1 Market segments
- Exhibit 30: Chart on Consumer - Market share 2022-2027 (%)
- Exhibit 31: Data Table on Consumer - Market share 2022-2027 (%)
- 6.2 Comparison by Consumer
- Exhibit 32: Chart on Comparison by Consumer
- Exhibit 33: Data Table on Comparison by Consumer
- 6.3 Domestic - Market size and forecast 2022-2027
- Exhibit 34: Chart on Domestic - Market size and forecast 2022-2027 ($ billion)
- Exhibit 35: Data Table on Domestic - Market size and forecast 2022-2027 ($ billion)
- Exhibit 36: Chart on Domestic - Year-over-year growth 2022-2027 (%)
- Exhibit 37: Data Table on Domestic - Year-over-year growth 2022-2027 (%)
- 6.4 International - Market size and forecast 2022-2027
- Exhibit 38: Chart on International - Market size and forecast 2022-2027 ($ billion)
- Exhibit 39: Data Table on International - Market size and forecast 2022-2027 ($ billion)
- Exhibit 40: Chart on International - Year-over-year growth 2022-2027 (%)
- Exhibit 41: Data Table on International - Year-over-year growth 2022-2027 (%)
- 6.5 Market opportunity by Consumer
- Exhibit 42: Market opportunity by Consumer ($ billion)
7 Market Segmentation by Type
- 7.1 Market segments
- Exhibit 43: Chart on Type - Market share 2022-2027 (%)
- Exhibit 44: Data Table on Type - Market share 2022-2027 (%)
- 7.2 Comparison by Type
- Exhibit 45: Chart on Comparison by Type
- Exhibit 46: Data Table on Comparison by Type
- 7.3 Adventure - Market size and forecast 2022-2027
- Exhibit 47: Chart on Adventure - Market size and forecast 2022-2027 ($ billion)
- Exhibit 48: Data Table on Adventure - Market size and forecast 2022-2027 ($ billion)
- Exhibit 49: Chart on Adventure - Year-over-year growth 2022-2027 (%)
- Exhibit 50: Data Table on Adventure - Year-over-year growth 2022-2027 (%)
- 7.4 Personalized - Market size and forecast 2022-2027
- Exhibit 51: Chart on Personalized - Market size and forecast 2022-2027 ($ billion)
- Exhibit 52: Data Table on Personalized - Market size and forecast 2022-2027 ($ billion)
- Exhibit 53: Chart on Personalized - Year-over-year growth 2022-2027 (%)
- Exhibit 54: Data Table on Personalized - Year-over-year growth 2022-2027 (%)
- 7.5 Cruising and yachting - Market size and forecast 2022-2027
- Exhibit 55: Chart on Cruising and yachting - Market size and forecast 2022-2027 ($ billion)
- Exhibit 56: Data Table on Cruising and yachting - Market size and forecast 2022-2027 ($ billion)
- Exhibit 57: Chart on Cruising and yachting - Year-over-year growth 2022-2027 (%)
- Exhibit 58: Data Table on Cruising and yachting - Year-over-year growth 2022-2027 (%)
- 7.6 Culinary - Market size and forecast 2022-2027
- Exhibit 59: Chart on Culinary - Market size and forecast 2022-2027 ($ billion)
- Exhibit 60: Data Table on Culinary - Market size and forecast 2022-2027 ($ billion)
- Exhibit 61: Chart on Culinary - Year-over-year growth 2022-2027 (%)
- Exhibit 62: Data Table on Culinary - Year-over-year growth 2022-2027 (%)
- 7.7 Others - Market size and forecast 2022-2027
- Exhibit 63: Chart on Others - Market size and forecast 2022-2027 ($ billion)
- Exhibit 64: Data Table on Others - Market size and forecast 2022-2027 ($ billion)
- Exhibit 65: Chart on Others - Year-over-year growth 2022-2027 (%)
- Exhibit 66: Data Table on Others - Year-over-year growth 2022-2027 (%)
- 7.8 Market opportunity by Type
- Exhibit 67: Market opportunity by Type ($ billion)
8 Customer Landscape
- 8.1 Customer landscape overview
- Exhibit 68: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
9 Geographic Landscape
- 9.1 Geographic segmentation
- Exhibit 69: Chart on Market share by geography 2022-2027 (%)
- Exhibit 70: Data Table on Market share by geography 2022-2027 (%)
- 9.2 Geographic comparison
- Exhibit 71: Chart on Geographic comparison
- Exhibit 72: Data Table on Geographic comparison
- 9.3 Europe - Market size and forecast 2022-2027
- Exhibit 73: Chart on Europe - Market size and forecast 2022-2027 ($ billion)
- Exhibit 74: Data Table on Europe - Market size and forecast 2022-2027 ($ billion)
- Exhibit 75: Chart on Europe - Year-over-year growth 2022-2027 (%)
- Exhibit 76: Data Table on Europe - Year-over-year growth 2022-2027 (%)
- 9.4 North America - Market size and forecast 2022-2027
- Exhibit 77: Chart on North America - Market size and forecast 2022-2027 ($ billion)
- Exhibit 78: Data Table on North America - Market size and forecast 2022-2027 ($ billion)
- Exhibit 79: Chart on North America - Year-over-year growth 2022-2027 (%)
- Exhibit 80: Data Table on North America - Year-over-year growth 2022-2027 (%)
- 9.5 APAC - Market size and forecast 2022-2027
- Exhibit 81: Chart on APAC - Market size and forecast 2022-2027 ($ billion)
- Exhibit 82: Data Table on APAC - Market size and forecast 2022-2027 ($ billion)
- Exhibit 83: Chart on APAC - Year-over-year growth 2022-2027 (%)
- Exhibit 84: Data Table on APAC - Year-over-year growth 2022-2027 (%)
- 9.6 Middle East and Africa - Market size and forecast 2022-2027
- Exhibit 85: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
- Exhibit 86: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
- Exhibit 87: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
- Exhibit 88: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
- 9.7 South America - Market size and forecast 2022-2027
- Exhibit 89: Chart on South America - Market size and forecast 2022-2027 ($ billion)
- Exhibit 90: Data Table on South America - Market size and forecast 2022-2027 ($ billion)
- Exhibit 91: Chart on South America - Year-over-year growth 2022-2027 (%)
- Exhibit 92: Data Table on South America - Year-over-year growth 2022-2027 (%)
- 9.8 US - Market size and forecast 2022-2027
- Exhibit 93: Chart on US - Market size and forecast 2022-2027 ($ billion)
- Exhibit 94: Data Table on US - Market size and forecast 2022-2027 ($ billion)
- Exhibit 95: Chart on US - Year-over-year growth 2022-2027 (%)
- Exhibit 96: Data Table on US - Year-over-year growth 2022-2027 (%)
- 9.9 Germany - Market size and forecast 2022-2027
- Exhibit 97: Chart on Germany - Market size and forecast 2022-2027 ($ billion)
- Exhibit 98: Data Table on Germany - Market size and forecast 2022-2027 ($ billion)
- Exhibit 99: Chart on Germany - Year-over-year growth 2022-2027 (%)
- Exhibit 100: Data Table on Germany - Year-over-year growth 2022-2027 (%)
- 9.10 China - Market size and forecast 2022-2027
- Exhibit 101: Chart on China - Market size and forecast 2022-2027 ($ billion)
- Exhibit 102: Data Table on China - Market size and forecast 2022-2027 ($ billion)
- Exhibit 103: Chart on China - Year-over-year growth 2022-2027 (%)
- Exhibit 104: Data Table on China - Year-over-year growth 2022-2027 (%)
- 9.11 France - Market size and forecast 2022-2027
- Exhibit 105: Chart on France - Market size and forecast 2022-2027 ($ billion)
- Exhibit 106: Data Table on France - Market size and forecast 2022-2027 ($ billion)
- Exhibit 107: Chart on France - Year-over-year growth 2022-2027 (%)
- Exhibit 108: Data Table on France - Year-over-year growth 2022-2027 (%)
- 9.12 UK - Market size and forecast 2022-2027
- Exhibit 109: Chart on UK - Market size and forecast 2022-2027 ($ billion)
- Exhibit 110: Data Table on UK - Market size and forecast 2022-2027 ($ billion)
- Exhibit 111: Chart on UK - Year-over-year growth 2022-2027 (%)
- Exhibit 112: Data Table on UK - Year-over-year growth 2022-2027 (%)
- 9.13 Market opportunity by geography
- Exhibit 113: Market opportunity by geography ($ billion)
10 Drivers, Challenges, and Trends
- 10.1 Market drivers
- 10.2 Market challenges
- 10.3 Impact of drivers and challenges
- Exhibit 114: Impact of drivers and challenges in 2022 and 2027
- 10.4 Market trends
11 Vendor Landscape
- 11.1 Overview
- 11.2 Vendor landscape
- Exhibit 115: Overview on Criticality of inputs and Factors of differentiation
- 11.3 Landscape disruption
- Exhibit 116: Overview on factors of disruption
- 11.4 Industry risks
- Exhibit 117: Impact of key risks on business
12 Vendor Analysis
- 12.1 Vendors covered
- Exhibit 118: Vendors covered
- 12.2 Market positioning of vendors
- Exhibit 119: Matrix on vendor position and classification
- 12.3 Abercrombie and Kent USA LLC
- Exhibit 120: Abercrombie and Kent USA LLC - Overview
- Exhibit 121: Abercrombie and Kent USA LLC - Product / Service
- Exhibit 122: Abercrombie and Kent USA LLC - Key offerings
- 12.4 Absolute Travel Inc.
- Exhibit 123: Absolute Travel Inc. - Overview
- Exhibit 124: Absolute Travel Inc. - Product / Service
- Exhibit 125: Absolute Travel Inc. - Key offerings
- 12.5 Butterfield and Robinson Inc.
- Exhibit 126: Butterfield and Robinson Inc. - Overview
- Exhibit 127: Butterfield and Robinson Inc. - Product / Service
- Exhibit 128: Butterfield and Robinson Inc. - Key offerings
- 12.6 Classic Journeys
- Exhibit 129: Classic Journeys - Overview
- Exhibit 130: Classic Journeys - Product / Service
- Exhibit 131: Classic Journeys - Key offerings
- 12.7 Exodus Travels Ltd.
- Exhibit 132: Exodus Travels Ltd. - Overview
- Exhibit 133: Exodus Travels Ltd. - Product / Service
- Exhibit 134: Exodus Travels Ltd. - Key offerings
- 12.8 G Adventures
- Exhibit 135: G Adventures - Overview
- Exhibit 136: G Adventures - Product / Service
- Exhibit 137: G Adventures - Key offerings
- 12.9 Geographic Expeditions Inc
- Exhibit 138: Geographic Expeditions Inc - Overview
- Exhibit 139: Geographic Expeditions Inc - Product / Service
- Exhibit 140: Geographic Expeditions Inc - Key offerings
- 12.10 Indigenous Tourism BC
- Exhibit 141: Indigenous Tourism BC - Overview
- Exhibit 142: Indigenous Tourism BC - Product / Service
- Exhibit 143: Indigenous Tourism BC - Key offerings
- 12.11 Lindblad Expeditions Holdings Inc.
- Exhibit 144: Lindblad Expeditions Holdings Inc. - Overview
- Exhibit 145: Lindblad Expeditions Holdings Inc. - Business segments
- Exhibit 146: Lindblad Expeditions Holdings Inc. - Key offerings
- Exhibit 147: Lindblad Expeditions Holdings Inc. - Segment focus
- 12.12 Micato Safaris Inc.
- Exhibit 148: Micato Safaris Inc. - Overview
- Exhibit 149: Micato Safaris Inc. - Product / Service
- Exhibit 150: Micato Safaris Inc. - Key offerings
- 12.13 Odyssey World
- Exhibit 151: Odyssey World - Overview
- Exhibit 152: Odyssey World - Product / Service
- Exhibit 153: Odyssey World - Key offerings
- 12.14 Responsible Travel
- Exhibit 154: Responsible Travel - Overview
- Exhibit 155: Responsible Travel - Product / Service
- Exhibit 156: Responsible Travel - Key offerings
- 12.15 Scott Dunn Ltd.
- Exhibit 157: Scott Dunn Ltd. - Overview
- Exhibit 158: Scott Dunn Ltd. - Product / Service
- Exhibit 159: Scott Dunn Ltd. - Key offerings
- 12.16 Tandem Travel OOD
- Exhibit 160: Tandem Travel OOD - Overview
- Exhibit 161: Tandem Travel OOD - Product / Service
- Exhibit 162: Tandem Travel OOD - Key offerings
- 12.17 Travelopia Group
- Exhibit 163: Travelopia Group - Overview
- Exhibit 164: Travelopia Group - Product / Service
- Exhibit 165: Travelopia Group - Key offerings
13 Appendix
- 13.1 Scope of the report
- 13.2 Inclusions and exclusions checklist
- Exhibit 166: Inclusions checklist
- Exhibit 167: Exclusions checklist
- 13.3 Currency conversion rates for US$
- Exhibit 168: Currency conversion rates for US$
- 13.4 Research methodology
- Exhibit 169: Research methodology
- Exhibit 170: Validation techniques employed for market sizing
- Exhibit 171: Information sources
- 13.5 List of abbreviations
- Exhibit 172: List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article