According to the report published by Allied Market Research, the global luxury travel market was pegged at $945.6 billion in 2019, and is anticipated to hit $1,198.3 billion by 2027, registering a CAGR of 11.1% from 2021 to 2027. The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape.
Rise in inclination of people toward unique and exotic holiday experiences, increase in the middle- & upper-class disposable income & related expenditure, and growth in need and interest of people to spend more time with family fuel the growth of the global luxury travel market. By types of tour, the adventure and safari segment held the major share in 2019.
The growth of the luxury travel industry is attributable to the large number of luxury travel companies switching to new age technologies. This is to boost the luxury travel status and delivering guests with state of the art facilities. Oculus rift-virtual reality device, Amazon eco-artificial intelligence, Go pro-wearable technology, and DaVinci 3D printing are some of the advanced technologies launched for the customers to enhance their travel experience.
Download Sample Copy Of this Report@ https://www.alliedmarketresearch.com/request-sample/1662
The global luxury travel market is analyzed across type of tour, age group, type of traveler, and region. Based on types of tour, the adventure and safari segment accounted for around two-fifths of the total market revenue in 2019, and is expected to dominate by 2027. Simultaneously, the culinary travel and shopping segment would exhibit the fastest CAGR of 12.8% throughout the forecast period.
Based on age group, the baby boomer segment contributed to around two-fifths of total market share in 2019, and is anticipated to lead the trail by 2027. At the same time, the millennial segment would manifest the fastest CAGR of 12.6% from 2021 to 2027.
Based on region, Europe garnered the highest share in 2019, generating around two-fifths of the global luxury travel market. Asia-Pacific, on the other hand, would showcase the fastest CAGR of 14.2% by 2027. The report also analyzes the market across Europe and LAMEA.
The key market players analyzed in the global luxury travel market report include LLC, Cox & Kings Ltd, Travcoa, Micato Safaris, Butterfield & Robinson Inc., Ker & Downey, Abercrombie & Kent USA, Thomas Cook Group PLC, Scott Dunn Ltd, Tauck, and Kensington Tours. These market players have taken recourse to several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their flair in the industry.
For Purchase Inquiry: https://www.alliedmarketresearch.com/purchase-enquiry/1662
Key Findings Of The Study:
• The adventure and safari tours segment is expected to grow at a CAGR of 10.7% during the forecast period.
• The generation X segment is estimated to grow at a CAGR of 11.5% during the forecast period.
• Baby boomer is anticipated to dominate the luxury travel market growth, registering a CAGR of 10.7%
• Absolute luxury travel segment is projected to contribute with highest market share during the forecast time period, with around 55% market share in 2027, and CAGR of 11.3%
• The culinary travel and shopping segment is anticipated to dominate the global action camera market growth with a CAGR of 12.8% during the forecast period.
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Contact us:
David Correa
5933 NE Win Sivers Drive
205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022|
UK: +44-845-528-1300 |
Hong Kong: +852-301-84916 |
India (Pune): +91-20-66346060 |
Fax: +1-855-550-5975
Email: help@alliedmarketresearch.com