Luxury travel market size to grow by USD 703.14 Billion From 2022 to 2027: A Descriptive Analysis of Customer Landscape, Vendor Assessment, & Market Dynamics - Technavio

NEW YORK, Dec. 6, 2022 /PRNewswire/ -- Technavio categorizes the global luxury travel market as a part of the hotels, resorts, and cruise lines market, the parent market. The hotels, resorts, and cruise lines market covers companies engaged in operating hotels, resorts, and cruise ships, including travel agencies, tour operators, and related services. The global luxury travel market size is forecast to grow by USD 703.14 billion at a CAGR of 11.5% between 2022 and 2027.

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Global luxury travel market - Customer Landscape

To help companies evaluate and develop growth strategies, the report outlines –

• Key purchase criteria
• Adoption rates
• Adoption lifecycle
• Drivers of price sensitivity

Global luxury travel market – Vendor Analysis

Vendor Landscape - The global luxury travel market is fragmented with the presence of many global and regional vendors. The vendors in the market are making significant investments in designing, planning, branding, developing, expanding their existing products, service portfolios, and acquiring new players. They are also staying updated with the trending technologies and current affairs that are influential to their service lines to keep them competitive in the market. Some vendors are competing in terms of pricing, government licensing, service portfolio, and safety measures. During the forecast period, the competition in the market is expected to intensify with an increase in product offerings.

Vendor Offerings -

• Abercrombie and Kent USA LLC: The company offers luxury travel services for countries such as Latin America, India, Egypt, France, and Antarctica.
• Absolute Travel Inc.: The company offers traveling packages for luxury music tours and concerts in New York.
• Butterfield and Robinson Inc.: The company offers luxury traveling across Africa, Europe, Latin America, and Asia.
• Classic Journeys: The company offers luxury trips for private families, groups, and even wedding destinations and honeymoons.
• For Details on vendor and its offerings – Buy report!

Global luxury travel market - Segmentation Assessment

Geography Overview

By geography, the global luxury travel market is segmented into Europe, North America, APAC, the Middle East and Africa, and South America. The report provides actionable insights and an accurate estimation of the contribution of all regions to the growth of the global luxury travel market.

• Europe will account for 29% of the market's growth during the forecast period. The market in the region is estimated to grow at the fastest pace during the forecast period. Factors such as rising disposable income, the presence of a large baby boomer population, the presence of numerous exotic destinations, increasing demand for personalized vacations, and the presence of major vendors are contributing to the growth of the regional market. The increasing number of food and beverage festivals and the availability of easy transport facilities are also contributing to the growth of the luxury travel market in Europe.

Segment Overview

By type, the global luxury travel market is segmented into adventure, personalized, cruising and yachting, culinary, and others.

• The market share growth of the adventure segment will be higher than the other segments during the forecast period. The growth of the segment can be attributed to the rising inclination toward adventure travel among millennials and the increasing number of offerings of adventurous activities at exotic locations. Also, comprehensive travel packages offered by vendors are contributing to the growth of the segment.

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Global luxury travel market – Market Dynamics

• Impactful Driver - The increase in disposable income is driving the growth of the market. Globally, the disposable income of people has increased significantly over the years. This is driven by factors such as a rise in dual household income, per capita income, and rapid growth in employment rates. The growth in the disposable income of consumers has consequently increased their spending and purchasing power. This has encouraged consumers to increase their spending on travel and leisure activities with exotic holiday experiences. As a result of these factors, the market size is expected to increase during the forecast period.
   
• Key Trend - The increasing popularity of sports tourism is the key trend in the market. The demand for sports tourism is growing significantly across the world with the increasing number of sports enthusiasts attending sports events. Popular events such as the Cricket World Cup, FIFA World Cup, the Union of European Football Associations (UEFA) Champions League, Rugby World Cup, Wimbledon Tennis, and Formula One racing are attracting a large number of sports enthusiasts. With a rise in the number of sports every year, a large number of players in the market are offering packages that combine accommodation and sporting event tickets that include special or VIP seating. This growing trend will positively influence the global luxury tourism market during the forecast period.
   
• Major Challenge - The threat of natural calamities and other issues is the major challenge in the market. Events of political unrest and the sudden outbreak of pandemics have a direct impact on the tourism industry. For instance, the outbreak of COVID-19 led to travel suspension in most countries, which adversely affected the overall tourism industry. Similarly, the threat of natural calamities and environmental disasters can have a direct impact on biodiversity, human health, and also the tourism industry. Such factors reduce the growth potential in the market.

Driver, Trend & Challenges are the factors of market dynamics that state about consequences & sustainability of businesses, find a few insights from, a free sample report!

• CAGR of the market during the forecast period.
• Detailed information on factors that will drive the growth of the market between 2023 and 2027
• Precise estimation of the size of the luxury travel market and its contribution to the parent market.
• Accurate predictions about upcoming trends and changes in consumer behavior.
• Growth of the market industry across Europe, APAC, South America, North America, and the Middle East and Africa.
• Thorough analysis of the market's competitive landscape and detailed information about vendors.
• Comprehensive analysis of factors that will challenge the growth of luxury travel market vendors.

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• The sports tourism market is estimated to grow at a CAGR of 12.88% between 2022 and 2027. The size of the market is forecast to increase by USD 559.75 billion. The increasing number of sporting events is notably driving the market growth, although factors such as the cancelation of sports events due to financial constraints may impede the market growth.
• The space tourism market is estimated to grow at a CAGR of 14.1% between 2022 and 2027. The size of the market is forecast to increase by USD 6,959.36 million. The increased spending on travel and tourism are is notably driving the market growth, although factors such as high risks associated with space tourism may impede the market growth.

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

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