
Luxury Travel Market Share, Size, Trends, Industry Analysis Report, By Tour (Safari & Adventure, Culinary Travel & Shopping, Others), By Age Group (Millennial, Baby Boomers, Others), By Region, And Segment Forecasts, 2024 - 2032
Description
Luxury Travel Market Share, Size, Trends, Industry Analysis Report, By Tour (Safari & Adventure, Culinary Travel & Shopping, Others), By Age Group (Millennial, Baby Boomers, Others), By Region, And Segment Forecasts, 2024 - 2032
The global luxury travel market size is expected to reach USD 2.46 trillion by 2032, according to a new study by Polaris Market Research. The report “Luxury Travel Market Share, Size, Trends, Industry Analysis Report, By Tour (Safari & Adventure, Culinary Travel & Shopping, Others), By Age Group (Millennial, Baby Boomers, Others), By Region, And Segment Forecasts, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The rising urge to break free from the pressures, fast-paced lifestyle, and monotony of daily routines has heightened the appeal for travelers. Additionally, the growing life expectancy and improved health conditions, even in older age, are motivating more individuals to adopt an active lifestyle. Furthermore, the emerging trend of micro trips is anticipated to drive market growth in the projected period. There is a growing demand for luxury travel centered around wellness, with travelers actively searching for experiences, travel plans, and products customized for aspects like health, fitness, nutrition, appearance, sleep, and mindfulness.
Based on a 2021 American Express survey, 76% of participants expressed their intent to dedicate a larger portion of their travel budget to enhance their overall well-being. Additionally, 55% stated their willingness to spend more on wellness activities for future vacations. Despite several spas and health retreats experiencing closures due to the pandemic, the Global Wellness Institute foresees a strong recovery. They project an annual growth rate of 17% and estimate the market value to reach USD 150 billion by 2025.
Upscale travelers highly favor the incorporation of digital and mobile technologies at every stage of their journey, starting from planning and booking to on-site and post-travel experiences. To cater to this audience, luxury travel brands should deliver a seamless and genuine brand experience at every interaction point, incorporating user-generated content. Innovations in this realm encompass Virtual Reality previews and mobile control over IoT-enabled in-room preferences. These advancements can tailor guest experiences and enhance overall customer satisfaction.
A rising trend is lifestyle tourism driven by collaborations between various brands, enticing high-end travelers with unique brand experiences. Hotels are partnering with the designers & galleries for exclusive interiors, fashion and beauty brands for premium vacation & spa packages, and luxury transportation providers for comprehensive travel experiences. A prime example is the collaboration between the Accor Hotels & Orient Express.
Luxury Travel Market Report Highlights
Culinary travel will grow at rapid pace, as it includes food tourism packages, including sites, attractions, and events with focus on the culinary aspect
Millennial segment will grow at the fastest pace, as they prioritize experiences over material possessions, creating long lasting memories
Europe dominated the market, as it has higher proportion of high-net-worth individuals, robust travel connectivity, traveler security, and favorable tourism policies
The global players include TUI Group, Butterfield & Robinson, Cox & Kings, Scott Dunn, Abercrombie & Kent, Lindblad Expeditions, Geographic Expeditions, Micato Safaris, Exodus Travels & Travel Edge.
Polaris Market Research has segmented the luxury travel market report based on tour, age group, and region:
Luxury Travel, Tour Outlook (Revenue - USD Trillion, 2019 - 2032)
Customized & Private Vacations
Safari & Adventure
Cruises, Yachting, & Small Ship Expeditions
Celebration Journeys
Culinary Travel & Shopping
Others
Luxury Travel, Age Group Outlook (Revenue - USD Trillion, 2019 - 2032)
Millennial (21-30)
Generation X (31-40)
Baby Boomers (41-60)
Silver Hair (60+)
Luxury Travel, Regional Outlook (Revenue - USD Trillion, 2019 - 2032)
North America
U.S.
Canada
Europe
Germany
UK
France
Italy
Spain
Russia
Netherlands
Asia Pacific
China
India
Japan
South Korea
Indonesia
Malaysia
Latin America
Argentina
Brazil
Mexico
Middle East & Africa
UAE
Saudi Arabia
Israel
South Africa
Table of Contents
117 Pages
- 1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
- 2. Executive Summary
- 2.1. Market Highlights
- 3. Research Methodology
- 3.1. Overview
- 3.1.1. Data Mining
- 3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources
- 4. Global Luxury Travel Market Insights
- 4.1. Luxury Travel Market – Industry Snapshot
- 4.2. Luxury Travel Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. Growing Affluence and Disposable Income
- 4.2.1.2. Technological Advancements
- 4.2.2. Restraints and Challenges
- 4.2.2.1. Geopolitical Instability
- 4.3. Porter’s Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PESTLE Analysis
- 4.5. Luxury Travel Industry trends
- 4.6. Value Chain Analysis
- 4.7. COVID-19 Impact Analysis
- 5. Global Luxury Travel Market, by Tour
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. Global Forklift, by Tour, 2019-2032 (USD Trillion)
- 5.3. Customized & Private Vacations
- 5.3.1. Global Luxury Travel Market, by Customized & Private Vacations, by Region, 2019-2032 (USD Trillion)
- 5.4. Safari & Adventure
- 5.4.1. Global Luxury Travel Market, by Safari & Adventure, by Region, 2019-2032 (USD Trillion)
- 5.5. Cruises, Yachting & Small Ship Expeditions
- 5.5.1. Global Luxury Travel Market, by Cruises, Yachting & Small Ship Expeditions, by Region, 2019-2032 (USD Trillion)
- 5.6. Celebration Journeys
- 5.6.1. Global Luxury Travel Market, by Celebration Journeys, by Region, 2019-2032 (USD Trillion)
- 5.7. Culinary Travel & Shopping
- 5.7.1. Global Luxury Travel Market, by Culinary Travel & Shopping, by Region, 2019-2032 (USD Trillion)
- 5.8. Others
- 5.8.1. Global Luxury Travel Market, by Others, by Region, 2019-2032 (USD Trillion)
- 6. Global Luxury Travel Market, by Age Group
- 6.1. Key Findings
- 6.2. Introduction
- 6.2.1. Global Luxury Travel Market, by Age Group, 2019-2032 (USD Trillion)
- 6.3. Millennial (21 - 30)
- 6.3.1. Global Luxury Travel Market, by Millennial (21 - 30), by Region, 2019-2032 (USD Trillion)
- 6.4. Generation X (31 - 40)
- 6.4.1. Global Luxury Travel Market, by Generation X (31 - 40), by Region, 2019-2032 (USD Trillion)
- 6.5. Baby Boomers (41 - 60)
- 6.5.1. Global Luxury Travel Market, by Baby Boomers (41 - 60), by Region, 2019-2032 (USD Trillion)
- 6.6. Silver Hair (60 +)
- 6.6.1. Global Luxury Travel Market, by Silver Hair (60 +), by Region, 2019-2032 (USD Trillion)
- 7. Global Luxury Travel Market, by Geography
- 7.1. Key findings
- 7.2. Introduction
- 7.2.1. Luxury Travel Market Assessment, By Geography, 2019-2032 (USD Trillion)
- 7.3. Luxury Travel Market – North America
- 7.3.1. North America: Luxury Travel Market, by Age Group, 2019-2032 (USD Trillion)
- 7.3.2. North America: Luxury Travel Market, by Tour, 2019-2032 (USD Trillion)
- 7.3.3. Luxury Travel Market – U.S.
- 7.3.3.1. U.S.: Luxury Travel Market, by Age Group, 2019-2032 (USD Trillion)
- 7.3.3.2. U.S.: Luxury Travel Market, by Tour, 2019-2032 (USD Trillion)
- 7.3.4. Luxury Travel Market – Canada
- 7.3.4.1. Canada: Luxury Travel Market, by Age Group, 2019-2032 (USD Trillion)
- 7.3.4.2. Canada: Luxury Travel Market, by Tour, 2019-2032 (USD Trillion)
- 7.4. Luxury Travel Market – Europe
- 7.4.1. Europe: Luxury Travel Market, by Age Group, 2019-2032 (USD Trillion)
- 7.4.2. Europe: Luxury Travel Market, by Tour, 2019-2032 (USD Trillion)
- 7.4.3. Luxury Travel Market – UK
- 7.4.3.1. UK: Luxury Travel Market, by Age Group, 2019-2032 (USD Trillion)
- 7.4.3.2. UK: Luxury Travel Market, by Tour, 2019-2032 (USD Trillion)
- 7.4.4. Luxury Travel Market – France
- 7.4.4.1. France: Luxury Travel Market, by Age Group, 2019-2032 (USD Trillion)
- 7.4.4.2. France: Luxury Travel Market, by Tour, 2019-2032 (USD Trillion)
- 7.4.5. Luxury Travel Market – Germany
- 7.4.5.1. Germany: Luxury Travel Market, by Age Group, 2019-2032 (USD Trillion)
- 7.4.5.2. Germany: Luxury Travel Market, by Tour, 2019-2032 (USD Trillion)
- 7.4.6. Luxury Travel Market – Italy
- 7.4.6.1. Italy: Luxury Travel Market, by Age Group, 2019-2032 (USD Trillion)
- 7.4.6.2. Italy: Luxury Travel Market, by Tour, 2019-2032 (USD Trillion)
- 7.4.7. Luxury Travel Market – Spain
- 7.4.7.1. Spain: Luxury Travel Market, by Age Group, 2019-2032 (USD Trillion)
- 7.4.7.2. Spain: Luxury Travel Market, by Tour, 2019-2032 (USD Trillion)
- 7.4.8. Luxury Travel Market – Netherlands
- 7.4.8.1. Netherlands: Luxury Travel Market, by Age Group, 2019-2032 (USD Trillion)
- 7.4.8.2. Netherlands: Luxury Travel Market, by Tour, 2019-2032 (USD Trillion)
- 7.4.9. Luxury Travel Market – Russia
- 7.4.9.1. Russia: Luxury Travel Market, by Age Group, 2019-2032 (USD Trillion)
- 7.4.9.2. Russia: Luxury Travel Market, by Tour, 2019-2032 (USD Trillion)
- 7.5. Luxury Travel Market – Asia Pacific
- 7.5.1. Asia Pacific: Luxury Travel Market, by Age Group, 2019-2032 (USD Trillion)
- 7.5.2. Asia Pacific: Luxury Travel Market, by Tour, 2019-2032 (USD Trillion)
- 7.5.3. Luxury Travel Market – China
- 7.5.3.1. China: Luxury Travel Market, by Age Group, 2019-2032 (USD Trillion)
- 7.5.3.2. China: Luxury Travel Market, by Tour, 2019-2032 (USD Trillion)
- 7.5.4. Luxury Travel Market – India
- 7.5.4.1. India: Luxury Travel Market, by Age Group, 2019-2032 (USD Trillion)
- 7.5.4.2. India: Luxury Travel Market, by Tour, 2019-2032 (USD Trillion)
- 7.5.5. Luxury Travel Market – Malaysia
- 7.5.5.1. Malaysia: Luxury Travel Market, by Age Group, 2019-2032 (USD Trillion)
- 7.5.5.2. Malaysia: Luxury Travel Market, by Tour, 2019-2032 (USD Trillion)
- 7.5.6. Luxury Travel Market – Japan
- 7.5.6.1. Japan: Luxury Travel Market, by Age Group, 2019-2032 (USD Trillion)
- 7.5.6.2. Japan: Luxury Travel Market, by Tour, 2019-2032 (USD Trillion)
- 7.5.7. Luxury Travel Market – Indonesia
- 7.5.7.1. Indonesia: Luxury Travel Market, by Age Group, 2019-2032 (USD Trillion)
- 7.5.7.2. Indonesia: Luxury Travel Market, by Tour, 2019-2032 (USD Trillion)
- 7.5.8. Luxury Travel Market – South Korea
- 7.5.8.1. South Korea: Luxury Travel Market, by Age Group, 2019-2032 (USD Trillion)
- 7.5.8.2. South Korea: Luxury Travel Market, by Tour, 2019-2032 (USD Trillion)
- 7.6. Luxury Travel Market – Middle East & Africa
- 7.6.1. Middle East & Africa: Luxury Travel Market, by Age Group, 2019-2032 (USD Trillion)
- 7.6.2. Middle East & Africa: Luxury Travel Market, by Tour, 2019-2032 (USD Trillion)
- 7.6.3. Luxury Travel Market – Saudi Arabia
- 7.6.3.1. Saudi Arabia: Luxury Travel Market, by Age Group, 2019-2032 (USD Trillion)
- 7.6.3.2. Saudi Arabia: Luxury Travel Market, by Tour, 2019-2032 (USD Trillion)
- 7.6.4. Luxury Travel Market – UAE
- 7.6.4.1. UAE: Luxury Travel Market, by Age Group, 2019-2032 (USD Trillion)
- 7.6.4.2. UAE: Luxury Travel Market, by Tour, 2019-2032 (USD Trillion)
- 7.6.5. Luxury Travel Market – Israel
- 7.6.5.1. Israel: Luxury Travel Market, by Age Group, 2019-2032 (USD Trillion)
- 7.6.5.2. Israel: Luxury Travel Market, by Tour, 2019-2032 (USD Trillion)
- 7.6.6. Luxury Travel Market – South Africa
- 7.6.6.1. South Africa: Luxury Travel Market, by Age Group, 2019-2032 (USD Trillion)
- 7.6.6.2. South Africa: Luxury Travel Market, by Tour, 2019-2032 (USD Trillion)
- 7.7. Luxury Travel Market – Latin America
- 7.7.1. Latin America: Luxury Travel Market, by Age Group, 2019-2032 (USD Trillion)
- 7.7.2. Latin America: Luxury Travel Market, by Tour, 2019-2032 (USD Trillion)
- 7.7.3. Luxury Travel Market – Mexico
- 7.7.3.1. Mexico: Luxury Travel Market, by Age Group, 2019-2032 (USD Trillion)
- 7.7.3.2. Mexico: Luxury Travel Market, by Tour, 2019-2032 (USD Trillion)
- 7.7.4. Luxury Travel Market – Brazil
- 7.7.4.1. Brazil: Luxury Travel Market, by Age Group, 2019-2032 (USD Trillion)
- 7.7.4.2. Brazil: Luxury Travel Market, by Tour, 2019-2032 (USD Trillion)
- 7.7.5. Luxury Travel Market – Argentina
- 7.7.5.1. Argentina: Luxury Travel Market, by Age Group, 2019-2032 (USD Trillion)
- 7.7.5.2. Argentina: Luxury Travel Market, by Tour, 2019-2032 (USD Trillion)
- 8. Competitive Landscape
- 8.1. Expansion and Acquisition Analysis
- 8.1.1. Expansion
- 8.1.2. Acquisitions
- 8.2. Partnerships/Collaborations/Agreements/Exhibitions
- 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. Recent Development
- 9.2. Butterfield & Robinson Inc
- 9.2.1. Company Overview
- 9.2.2. Financial Performance
- 9.2.3. Product Benchmarking
- 9.2.4. Recent Development
- 9.3. Cox & Kings Ltd.
- 9.3.1. Company Overview
- 9.3.2. Financial Performance
- 9.3.3. Product Benchmarking
- 9.3.4. Recent Development
- 9.4. Scott Dunn Ltd
- 9.4.1. Company Overview
- 9.4.2. Financial Performance
- 9.4.3. Product Benchmarking
- 9.4.4. Recent Development
- 9.5. Abercrombie & Kent USA, LLC
- 9.5.1. Company Overview
- 9.5.2. Financial Performance
- 9.5.3. Product Benchmarking
- 9.5.4. Recent Development
- 9.6. Lindblad Expeditions
- 9.6.1. Company Overview
- 9.6.2. Financial Performance
- 9.6.3. Product Benchmarking
- 9.6.4. Recent Development
- 9.7. Geographic Expeditions, Inc
- 9.7.1. Company Overview
- 9.7.2. Financial Performance
- 9.7.3. Product Benchmarking
- 9.7.4. Recent Development
- 9.8. Micato Safaris
- 9.8.1. Company Overview
- 9.8.2. Financial Performance
- 9.8.3. Product Benchmarking
- 9.8.4. Recent Development
- 9.9. Exodus Travels Limited
- 9.9.1. Company Overview
- 9.9.2. Financial Performance
- 9.9.3. Product Benchmarking
- 9.9.4. Recent Development
- 9.10. Travel Edge (Canada) Inc.
- 9.10.1. Company Overview
- 9.10.2. Financial Performance
- 9.10.3. Product Benchmarking
- 9.10.4. Recent Development
Pricing
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