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Luxury Travel Market Size, Share & Trends Analysis Report By Tour (Safari & Adventure, Customized & Private Vacations), By Age Group (Millennial, Baby Boomers), By Region (APAC, Europe), And Segment Forecasts, 2022 - 2030

September 2022 | 84 pages | ID: L73501A6400EEN
Grand View Research, Inc.

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Luxury Travel Market Growth & Trends

The global luxury travel market size is expected to reach USD 2.32 trillion by 2030, registering a CAGR of 7.6% during the forecast period, according to a new report by Grand View Research, Inc. The growing desire to escape the stress, hustle-bustle, and routine of everyday life has driven the attraction for travelers. Moreover, the increasing life expectancy of people around the world and improved health conditions even in old age are encouraging more and more consumers to enjoy an active lifestyle. Growing economic and political stability across the globe regarding gender, ethnicity, sexual orientation, human rights, and less hustle in visa offerings are influencing tourists’ decisions over potential travel places across the globe.

Long-haul travelers are seeking to create unique holidays and are demanding flexible itineraries for a combination of entertaining and relaxing travel. The demand for customized and personalized travel for more convenient journeys is expected to accelerate the industry's growth. Moreover, the micro trip is a new trend in the industry, which is expected to boost the industry's growth in the forecasted period. Tourists are visiting more travel places in shorter periods. To stay and spend quality time during short time frames in a unique and remarkable type of accommodation is becoming trendy, thereby supporting industry growth. In terms of value, the safari & adventure segment dominated the industry in 2021.

This is owing to an increasing number of luxury travelers seeking to understand the local culture, gain a sense of adventure, and enjoy a less-crowded environment. Personalized safaris and adventures are gaining popularity among all age groups, which is also driving the segment growth. The Asia Pacific is anticipated to emerge as the fastest-growing region over the forecast period. A rise in spending power and improving the standard of living are some of the key factors responsible for attracting customers to luxury travel. Demand for luxury travel for corporate events, corporate stays, and leisure trips is rising as more money is being injected into the economy.

Countries facing political instability, economic crises, and stringent Foreign Direct Investment (FDI) regulations are anticipated to witness steady growth. Companies are focusing on strategies, such as mergers and acquisitions, to gain higher industry share and increase their service footprint. In June 2021, Inspirato LLC, an innovative luxury travel subscription brand, and Thayer Ventures Acquisition Corp., a publicly traded special purpose acquisition company, entered into a definitive merger agreement that will result in Inspirato becoming a publicly listed company. This merger enabled the company to increase and broaden its service capabilities and bolster its package offerings.

Luxury Travel Market Report Highlights
  • The culinary travel & shopping tour segment dominated the global industry in 2021 and will expand further at a steady CAGR from 2022 to 2030
  • The growing popularity of cooking programs on television influences people to travel abroad and experience local cuisines favoring the segment growth
  • The millennial age group segment is expected to witness the fastest growth rate over the forecast period
  • The Europe region was valued a USD 0.42 trillion in 2021 and is expected to register a significant CAGR over the forecast period
  • This growth can be attributed to a rise in spending power and a high standard of living in the region
CHAPTER 1. METHODOLOGY AND SCOPE

1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
  1.3.1. Purchased Database
  1.3.2. GVR’s Internal Database
  1.3.3. Secondary Sources & Third-Party Perspectives
  1.3.4. Primary Research
1.4. Information Analysis
  1.4.1. Data Analysis Models
1.5. Market Formulation & Data Visualization
1.6. Data Validation & Publishing

CHAPTER 2. EXECUTIVE SUMMARY

2.1. Market Outlook
2.2. Tour Outlook
2.3. Age-group Outlook
2.4. Regional Outlook

CHAPTER 3. LUXURY TRAVEL MARKET VARIABLES, TRENDS & SCOPE

3.1. Market Introduction
3.2. Penetration & Growth Prospect Mapping
3.3. Impact of COVID-19 on Luxury Travel Market
3.4. Industry Value Chain Analysis
  3.4.1. Sales/Retail Channel Analysis
  3.4.2. Profit Margin Analysis
3.5. Market Dynamics
  3.5.1. Market Driver Analysis
  3.5.2. Market Restraint Analysis
  3.5.3. Industry Challenges
  3.5.4. Industry Opportunities
3.6. Business Environment Analysis
  3.6.1. Industry Analysis - Porter’s
    3.6.1.1. Supplier Power
    3.6.1.2. Buyer Power
    3.6.1.3. Substitution Threat
    3.6.1.4. Threat from New Entrant
    3.6.1.5. Competitive Rivalry
3.7. Roadmap of Luxury Travel Market
3.8. Market Entry Strategies

CHAPTER 4. CONSUMER BEHAVIOR ANALYSIS

4.1. Demographic Analysis
4.2. Consumer Trends and Preferences
4.3. Factors Affecting Buying Decision
4.4. Consumer Product Adoption
4.5. Observations & Recommendations

CHAPTER 5. LUXURY TRAVEL MARKET: TOUR ESTIMATES & TREND ANALYSIS

5.1. Tour Movement Analysis & Market Share, 2021 & 2030
5.2. Customized & Private Vacations
  5.2.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
5.3. Safari & Adventure
  5.3.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
5.4. Cruises, Yachting, and Small Ship Expeditions
  5.4.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
5.5. Celebration Journeys
  5.5.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
5.6. Culinary Travel & Shopping
  5.6.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
5.7. Others
  5.7.1. Market estimates and forecast, 2017 - 2030 (USD Billion)

CHAPTER 6. LUXURY TRAVEL MARKET: AGE-GROUP ESTIMATES & TREND ANALYSIS

6.1. Age-group Movement Analysis & Market Share, 2021 & 2030
6.2. Millennial
  6.2.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
6.3. Generation X
  6.3.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
6.4. Baby Boomers
  6.4.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
6.5. Silver Hair
  6.5.1. Market estimates and forecast, 2017 - 2030 (USD Billion)

CHAPTER 7. LUXURY TRAVEL MARKET: REGIONAL ESTIMATES & TREND ANALYSIS

7.1. Regional Movement Analysis & Market Share, 2021 & 2030
7.2. North America
  7.2.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
  7.2.2. Market estimates and forecast, by tour, 2017 - 2030 (USD Billion)
  7.2.3. Market estimates and forecast, by age group, 2017 - 2030 (USD Billion)
  7.2.4. U.S.
    7.2.4.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
    7.2.4.2. Market estimates and forecast, by tour, 2017 - 2030 (USD Billion)
    7.2.4.3. Market estimates and forecast, by age group, 2017 - 2030 (USD Billion)
7.3. Europe
  7.3.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
  7.3.2. Market estimates and forecast, by tour, 2017 - 2030 (USD Billion)
  7.3.3. Market estimates and forecast, by age group, 2017 - 2030 (USD Billion)
  7.3.4. U.K.
    7.3.4.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
    7.3.4.2. Market estimates and forecast, by tour, 2017 - 2030 (USD Billion)
    7.3.4.3. Market estimates and forecast, by age group, 2017 - 2030 (USD Billion)
  7.3.5. Germany
    7.3.5.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
    7.3.5.2. Market estimates and forecast, by tour, 2017 - 2030 (USD Billion)
    7.3.5.3. Market estimates and forecast, by age group, 2017 - 2030 (USD Billion)
7.4. Asia Pacific
  7.4.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
  7.4.2. Market estimates and forecast, by tour, 2017 - 2030 (USD Billion)
  7.4.3. Market estimates and forecast, by age group, 2017 - 2030 (USD Billion)
  7.4.4. China
    7.4.4.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
    7.4.4.2. Market estimates and forecast, by tour, 2017 - 2030 (USD Billion)
    7.4.4.3. Market estimates and forecast, by age group, 2017 - 2030 (USD Billion)
  7.4.5. India
    7.4.5.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
    7.4.5.2. Market estimates and forecast, by tour, 2017 - 2030 (USD Billion)
    7.4.5.3. Market estimates and forecast, by age group, 2017 - 2030 (USD Billion)
7.5. Central & South America
  7.5.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
  7.5.2. Market estimates and forecast, by tour, 2017 - 2030 (USD Billion)
  7.5.3. Market estimates and forecast, by age group, 2017 - 2030 (USD Billion)
  7.5.4. Brazil
    7.5.4.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
    7.5.4.2. Market estimates and forecast, by tour, 2017 - 2030 (USD Billion)
    7.5.4.3. Market estimates and forecast, by age group, 2017 - 2030 (USD Billion)
7.6. Middles East & Africa
  7.6.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
  7.6.2. Market estimates and forecast, by tour, 2017 - 2030 (USD Billion)
  7.6.3. Market estimates and forecast, by age group, 2017 - 2030 (USD Billion)
  7.6.4. South Africa
    7.6.4.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
    7.6.4.2. Market estimates and forecast, by tour, 2017 - 2030 (USD Billion)
  7.6.5. Market estimates and forecast, by age group, 2017 - 2030 (USD Billion)

CHAPTER 8. COMPETITIVE ANALYSIS

8.1. Key global players, recent developments & their impact on the industry
8.2. Key Company/Competition Categorization (Key innovators, Market leaders, Emerging players)
8.3. Vendor Landscape
  8.3.1. Key company market share analysis, 2021

CHAPTER 9. COMPANY PROFILES

9.1. TUI Group
  9.1.1. Company Overview
  9.1.2. Financial Performance
  9.1.3. Product Benchmarking
  9.1.4. Strategic Initiatives
9.2. Butterfield & Robinson Inc.
  9.2.1. Company Overview
  9.2.2. Financial Performance
  9.2.3. Product Benchmarking
  9.2.4. Strategic Initiatives
9.3. Cox & Kings Ltd.
  9.3.1. Company Overview
  9.3.2. Financial Performance
  9.3.3. Product Benchmarking
  9.3.4. Strategic Initiatives
9.4. Scott Dunn Ltd.
  9.4.1. Company Overview
  9.4.2. Financial Performance
  9.4.3. Product Benchmarking
  9.4.4. Strategic Initiatives
9.5. Abercrombie & Kent USA, LLC.
  9.5.1. Company Overview
  9.5.2. Financial Performance
  9.5.3. Product Benchmarking
  9.5.4. Strategic Initiatives
9.6. Lindblad Expeditions
  9.6.1. Company Overview
  9.6.2. Financial Performance
  9.6.3. Product Benchmarking
  9.6.4. Strategic Initiatives
9.7. Geographic Expeditions, Inc.
  9.7.1. Company Overview
  9.7.2. Financial Performance
  9.7.3. Product Benchmarking
  9.7.4. Strategic Initiatives
9.8. Micato Safaris
  9.8.1. Company Overview
  9.8.2. Financial Performance
  9.8.3. Product Benchmarking
  9.8.4. Strategic Initiatives
9.9. Exodus Travels Limited
  9.9.1. Company Overview
  9.9.2. Financial Performance
  9.9.3. Product Benchmarking
  9.9.4. Strategic Initiatives
9.10. Travel Edge (Canada) Inc.
  9.10.1. Company Overview
  9.10.2. Financial Performance
  9.10.3. Product Benchmarking
  9.10.4. Strategic Initiatives
LIST OF TABLES

1. Luxury travel market - Driving factor market analysis
2. Luxury travel market - Restraint factor market analysis
3. Global luxury travel market estimates and forecast, for customized & private vacations, 2017 - 2030 (USD Billion)
4. Global luxury travel market estimates and forecast, for safari & adventure, 2017 - 2030 (USD Billion)
5. Global luxury travel market estimates and forecast, for cruises, yachting, and small ship expeditions, 2017 - 2030 (USD Billion)
6. Global luxury travel market estimates and forecast, for celebration journeys, 2017 - 2030 (USD Billion)
7. Global luxury travel market estimates and forecast, for culinary travel & shopping, 2017 - 2030 (USD Billion)
8. Global luxury travel market estimates and forecast, for others, 2017 - 2030 (USD Billion)
9. Global luxury travel market estimates and forecast, for millennials, 2017 - 2030 (USD Billion)
10. Global luxury travel market estimates and forecast, for generation X, 2017 - 2030 (USD Billion)
11. Global luxury travel market estimates and forecast, for baby boomers, 2017 - 2030 (USD Billion)
12. Global luxury travel market estimates and forecast, for silver hair, 2017 - 2030 (USD Billion)
13. North America luxury travel market estimates and forecast, 2017 - 2030 (USD Billion)
14. North America luxury travel market estimates and forecast, by tour, 2017 - 2030 (USD Billion)
15. North America luxury travel market estimates and forecast, by age group, 2017 - 2030 (USD Billion)
16. U.S. luxury travel market estimates and forecast, 2017 - 2030 (USD Billion)
17. U.S. luxury travel market estimates and forecast, by tour, 2017 - 2030 (USD Billion)
18. U.S. luxury travel market estimates and forecast, by age group, 2017 - 2030 (USD Billion)
19. Europe luxury travel market estimates and forecast, 2017 - 2030 (USD Billion)
20. Europe luxury travel market estimates and forecast, by tour, 2017 - 2030 (USD Billion)
21. Europe luxury travel market estimates and forecast, by age group, 2017 - 2030 (USD Billion)
22. U.K. luxury travel market estimates and forecast, 2017 - 2030 (USD Billion)
23. U.K. luxury travel market estimates and forecast, by tour, 2017 - 2030 (USD Billion)
24. U.K. luxury travel market estimates and forecast, by age group, 2017 - 2030 (USD Billion)
25. Germany luxury travel market estimates and forecast, 2017 - 2030 (USD Billion)
26. Germany luxury travel market estimates and forecast, by tour, 2017 - 2030 (USD Billion)
27. Germany luxury travel market estimates and forecast, by age group, 2017 - 2030 (USD Billion)
28. Asia Pacific luxury travel market estimates and forecast, 2017 - 2030 (USD Billion)
29. Asia Pacific luxury travel market estimates and forecast, by tour, 2017 - 2030 (USD Billion)
30. Asia Pacific luxury travel market estimates and forecast, by age group, 2017 - 2030 (USD Billion)
31. China luxury travel market estimates and forecast, 2017 - 2030 (USD Billion)
32. China luxury travel market estimates and forecast, by tour, 2017 - 2030 (USD Billion)
33. China luxury travel market estimates and forecast, by age group, 2017 - 2030 (USD Billion)
34. India luxury travel market estimates and forecast, 2017 - 2030 (USD Billion)
35. India luxury travel market estimates and forecast, by tour, 2017 - 2030 (USD Billion)
36. India luxury travel market estimates and forecast, by age group, 2017 - 2030 (USD Billion)
37. Central & South America luxury travel market estimates and forecast, 2017 - 2030 (USD Billion)
38. Central & South America luxury travel market estimates and forecast, by tour, 2017 - 2030 (USD Billion)
39. Central & South America luxury travel market estimates and forecast, by age group, 2017 - 2030 (USD Billion)
40. Brazil luxury travel market estimates and forecast, 2017 - 2030 (USD Billion)
41. Brazil luxury travel market estimates and forecast, by tour, 2017 - 2030 (USD Billion)
42. Brazil luxury travel market estimates and forecast, by age group, 2017 - 2030 (USD Billion)
43. Middle East & Africa luxury travel market estimates and forecast, 2017 - 2030 (USD Billion)
44. Middle East & Africa luxury travel market estimates and forecast, by tour, 2017 - 2030 (USD Billion)
45. Middle East & Africa luxury travel market estimates and forecast, by age group, 2017 - 2030 (USD Billion)
46. South Africa luxury travel market estimates and forecast, 2017 - 2030 (USD Billion)
47. South Africa luxury travel market estimates and forecast, by tour, 2017 - 2030 (USD Billion)
48. South Africa luxury travel market estimates and forecast, by age group, 2017 - 2030 (USD Billion)
49. Company categorization
LIST OF FIGURES

1. Luxury travel market segmentation
2. Information procurement
3. Primary research pattern
4. Primary research approaches
5. Primary research process
6. Luxury travel market - Penetration & growth prospect mapping, by tour
7. Luxury travel market - Value chain analysis
8. Luxury travel market: Porter’s Five Forces Analysis
9. Luxury travel market: Roadmap
10. Luxury travel market: Tour revenue share (%) analysis, 2021 & 2030
11. Luxury travel market: Distribution channel revenue share (%) analysis, 2021 & 2030
12. Luxury travel market: Regional share (%) analysis, 2021 & 2030
13. Luxury travel market: Estimated company market share (%) analysis, 2021


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