Luxury Travel Market by Type of Traveler (Absolute Luxury, Aspiring Luxury, and Accessible Luxury), Age Group (Millennial, Generation X, Baby Boomers, and Silver Hair), and Type of Tour (Customized & Private Vacations, Adventure & Safari, Cruise/Ship Expedition, Small Group Journey, Celebration & Special Events, and Culinary Travel & Shopping): Global Opportunity Analysis and Industry Forecast, 2020-2027
| ID: VPR/CO/128 | Publishing Year: July 2020 | Pages: 193 | Format: |
Global Luxury Travel Market is expected to a CAGR of 8.21% from 2020 to 2027.
Luxury Travel services provides most desirable experience in terms of luxurious accommodation and convenient transport. TheLuxury Travel service providers are trying their best inorder to provide best service for the customers. The Luxury Travel service providers are providing different types of unique services to serve and facilitate their consumers such as private jets, spas, swimming pool and special menus. Travelers are inclined towards experiencing and gaining informationabout different cultures, cuisines and traditions. People are increasingly opting for exclusive trips to obtain a valuable and memorable experience, including cultural experiences, sailing and adventure activities.
Market Snapshot:
|
CAGR |
8.21% |
|
Year |
2020-2027 |
|
Region |
North America, Europe , Asia -pacific and LAMEA |
|
Fastest Growing market |
Europe |
|
Major Key Players |
Abercrombie & Kent USA, LLC, Cox & Kings Ltd, Travcoa, Micato Safaris, Ker & Downey, Tauck, Thomas Cook Group PLC, Scott Dunn Ltd, Kensington Tours, and Butterfield & Robinson Inc. |
During the forecast period, the Luxury Travel Market is projected to be the fastest growing segment of the travel industry worldwide. Increase 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 are key factors driving the growth of Luxury Travel Market. Moreover, North America has the highest share in the market of Luxury Travel Market; there has been rise in the demand for thetravelling. This is due to increase in the income of middle class and upper middle class travelers in developing countries. However, the expense of luxury tour packages is comparatively high compared to other packages that are expected to be a major factor restricting the market growth. In addition, high market volatility is a factor that is expected to hinder target market growth to some degree over the forecast period.
Oppositely, travel agencies are adopting various strategies in order to decrease prices of Luxury Travel packages to increase sales is expected to drive the growth of Luxury Travel Market in future.
Luxury Travel Market Insight
Global Luxury Travel Market is segmented into type of traveler, age group, type of tour and region. On the basis typeof traveller it is segmented into absolute luxury, aspringing luxury and accessible luxury. By age group it is further divided into millennial,generation X,baby boomers and silver hair.Onthe basisof type of tour it is categorized into customized and private vacations,adventure and safari, cruise/ship expedition,small group journey,celebration,special events and culinary travel and shopping.
Type of Traveler Insight
The Luxury Travel Market is segmented by type of traveler into absolute luxury, aspringing luxury and accessible luxury.Most of the consumers are opting for accessible luxuryoptions as it moreconvenient.
By Age Group Insight
The Luxury Travel Market is segmented by age group into millennial, generation X, baby boomers and silver hair.
By Type of Tour Insight
The Luxury Travel Market is segmented by type of tour into customized and private vacations, adventure and safari, cruise/ship expedition, small group journey, celebration, special events and culinary travel and shopping. By type of tour cruise/ship expedition is dominating the market. However, millennial are celebrating different events may result in growth of the segment.
Major Key Players of Global Luxury Travel Market
The Report Provides a Comprehensive Analysis of the Key Players Operating in the Global Luxury Travel Market, such asAbercrombie & Kent USA, LLC, Cox & Kings Ltd, Travcoa, Micato Safaris, Ker & Downey, Tauck, Thomas Cook Group PLC, Scott Dunn Ltd, Kensington Tours, and Butterfield & Robinson Inc. Most of the key players in luxury travelare focusing on business expansion to gain higher revenue share through the adoption of strategies, such as mergers and acquisitions and new product development.
Luxury Travel Key Market Segments:
By Type of Tour
- Customized & Private Vacation
- Adventure & Safari
- Cruise/Ship Expedition
- Small Group Journey
- Celebration & Special Event
- Culinary Travel & Shopping
By Age Group
- Millennial (21-30)
- Generation X (31-40)
- Baby Boomers (41-60)
- Silver Hair (60 and above)
By Type of Traveler
- Absolute Luxury
- Aspiring Luxury
- Accessible Luxury
By Region
North America
-
- U.S.
- Canada
- Mexico
Europe
-
- Germany
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
-
- China
- Singapore
- India
- Rest of Asia-Pacific
LAMEA
-
- Latin America
- Middle-East
- Africa
Frequently Asked Questions
TABLE OF CONTENTS:
CHAPTER 1 MARKET INTRODUCTION
1.1. REPORT OVERVIEW
1.2. SCOPE OF THE STUDY
1.3. PRIMARY MARKET SEGMENTS
1.4. RESEARCH METHODOLOGY
CHAPTER 2 EXECUTIVE SUMMARY
2.1. C-LEVEL EXECUTIVE’SOVERVIEW AND PERSPECTIVES
CHAPTER 3 MARKET OVERVIEW
3.1. MARKET DEFINITION AND SCOPE
3.2. PRINCIPAL FINDINGS
3.2.1. Key investment pockets
3.2.2. Leading winning strategies
3.2.3 Key Player Positioning
3.3. PORTERS FIVE FORCES OF COMPETITIVE ANALYSIS
3.4. MARKET DYNAMICS
3.4.1. Drivers
3.4.2. Restraints
3.4.3. Opportunities
3.4.4. Impact Analysis
3.5. IMPACT OF COVID-19 ON THIS MARKET
CHAPTER 4 GLOBAL LUXURY TRAVELMARKET, BY TYPE OF TRAVELER
4.1. SYNOPSIS
4.1.1. Market size and forecast
4.2. ABSOLUTE LUXURY
4.2.1. Key market trends
4.2.2. Growth factors and opportunities
4.2.3. Market size and forecast
4.3. ASPIRING LUXURY
4.3.1. Key market trends
4.3.2. Growth factors and opportunities
4.3.3. Market size and forecast
4.4 ACCESSIBLE LUXURY
4.4.1. Key market trends
4.4.2. Growth factors and opportunities
4.4.3. Market size and forecast
CHAPTER 5 GLOBAL LUXURY TRAVEL MARKET, BY AGE GROUP
5.1 SYNOPSIS
5.1.1. Market size and forecast
5.2 MILLENNIAL
5.2.1. Key market trends
5.2.2. Growth factors and opportunities
5.2.3. Market size and forecast
5.3 GENERATION X
5.3.1. Key market trends
5.3.2. Growth factors and opportunities
5.3.3. Market size and forecast
5.4 BABY BOOMERS
5.4.1. Key market trends
5.4.2. Growth factors and opportunities
5.4.3. Market size and forecast
5.5 SILVER HAIR
5.5.1. Key market trends
5.5.2. Growth factors and opportunities
5.5.3. Market size and forecast
CHAPTER 6 GLOBAL LUXURY TRAVEL MARKET, BY TYPE OF TOUR
6.1 CUSTOMIZED AND PRIVATE
6.1.1. Key market trends
6.1.2. Growth factors and opportunities
6.1.3. Market size and forecast
6.2ADVENTURE AND SAFARI
6.2.1. Key market trends
6.2.2. Growth factors and opportunities
6.2.3. Market size and forecast
6.3 CRUISE/SHIP EXPEDITION
6.3.1. Key market trends
6.3.2. Growth factors and opportunities
6.3.3. Market size and forecast
6.4 SMALL GROUP JOURNEY
6.4.1. Key market trends
6.4.2. Growth factors and opportunities
6.4.3. Market size and forecast
6.5 CELEBRATION AND SPECIAL EVENTS
6.5.1. Key market trends
6.5.2. Growth factors and opportunities
6.5.3. Market size and forecast
6.6 CULINARY TRAVELAND SHOPPING
6.6.1. Key market trends
6.6.2. Growth factors and opportunities
6.6.3. Market size and forecast
CHAPTER 7 GLOBAL LUXURY TRAVELMARKET, BY REGION
7.1 SYNOPSIS
7.2 North America
7.2.1 Key market trends
7.2.2 Competitive scenario
7.2.3 Key growth factors and opportunities
7.2.4 Market size and forecast
7.3 Europe
7.3.1 Key market trends
7.3.2 Competitive scenario
7.3.3 Key growth factors and opportunities
7.3.4 Market size and forecast
7.4 Asia Pacific
7.4.1 Key market trends
7.4.2 Competitive scenario
7.4.3 Key growth factors and opportunities
7.4.4 Market size and forecast
7.5 LAMEA
7.5.1 Key market trends
7.5.2 Key growth factors and opportunities
7.5.3 Market size and forecast
CHAPTER 8 COMPANY PROFILES
8.1ABERCROMBIE & KENT USA
8.1.1. Company overview
8.1.2. Company snapshot
8.1.3. Product portfolio
8.1.4. Business performance
8.1.5. Key strategic moves and developments
8.2. LLC
8.2.1. Company overview
8.2.2. Company snapshot
8.2.4. Product portfolio
8.2.5. Business performance
8.2.6. Key strategic moves and developments
8.3 COX & KINGS LTD
8.3.1. Company overview
8.3.2. Company snapshot
8.3.3. Operating business segments
8.3.4. Product portfolio
8.3.5. Business performance
8.3.6. Key strategic moves and developments
8.4. TRAVCOA
8.4.1. Company overview
8.4.2. Company snapshot
8.4.3. Operating business segments
8.4.4. Product portfolio
8.4.5. Business performance
8.4.6. Key strategic moves and developments
8.5. MICATO SAFARIS
8.5.1. Company overview
8.5.2. Company snapshot
8.5.3. Operating business segments
8.5.4. Product portfolio
8.5.5. Business performance
8.5.6. Key strategic moves and developments
8.6. KER & DOWNEY
8.6.1. Company overview
8.6.2. Company Snapshot
8.6.3. Operating business segments
8.6.4. Product portfolio
8.6.5. Business performance
8.6. Key strategic moves and developments
8.7. TAUCK
8.7.1. Company overview
8.7.2. Company snapshot
8.7.3. Operating business segments
8.7.4. Product portfolio
8.7.5. Business performance
8.7.6. Key strategic moves and developments
8.8.THOMAS COOK GROUP PLC
8.8.1. Company overview
8.8.2. Company snapshot
8.8.3. Operating business segments
8.8.4. Product portfolio
8.8.5. Business performance
8.8.6. Key strategic moves and developments
8.9. SCOTT DUNN LTD
8.9.1. Company overview
8.9.2. Company snapshot
8.9.3. Operating business segments
8.9.4. Product portfolio
8.9.5. Business performance
8.9.6. Key strategic moves and developments
8.10 KENSINGTON TOURS
8.10.1. Company overview
8.10.2. Company snapshot
8.10.3. Product portfolio
8.10.4. Key strategic moves and developments
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