Global And United States Luxury Travel Market Report 2018-2025 By Status And Forecast

Saniya
Jan 28, 2019
2 min read

Frank n Raf’s This report concentrates on the global Luxury Travel key market, growth opportunity, status, key players, and future forecast. The research objectives are to present the Luxury Travel expansion in the United States, China, and Europe.

Luxury travel today is determined less by thread count and Michelin stars and more by access to the people, places, and experiences that express all that is authentic about a target. There's no doubting that comfort factors still apply and high measures of accommodation and dining will always feature on the luxury travelers wish list. However, today's luxury traveler endeavors more depth of understanding and immersion into local culture than ever before. People don't just want to view, they want to engage. The sales process is also crucial and whilst the online proposition can be an asset in terms of booking more simple arrangements, clients looking for luxury experiential travel requires an intense level of sophisticated knowledge and confidence throughout the sales process.

Growing direction of people towards unique and exotic holiday experiences, increase in middle and upper-middle-class spending and the increasing impact of social media on travel industry are the key factors that push the market growth. Developing new destinations coupled with improving service standards in the travel industry, is supposed to further drive the demand for luxury travel, globally. The Small Group Journey division estimated for about 44% of the overall luxury travel market revenue, by tour type in 2015, as this is recognized as the most popular vacation option amidst young and middle age travelers. In addition, Customized and Private Vacation intended at culinary and shopping, would witness the fastest growth, recording a CAGR of 9.1% during the forecast period. An increasing number of luxury travelers are indulging in these tours as they allow these travelers to experience the finest local treats and also buy some of the most elegant handicrafts. These trips are getting popular among travelers of all age groups, particularly the millennials (21 - 30 years). In 2015, nearly 45% of millennials chose a trip based on culinary interest.

In 2017, the global Luxury Travel market size was 5200 million US$ and it is supposed to reach 9920 million US$ by the end of 2025, with a CAGR of 8.4% during 2018-2025.

Table of Contents:

Industry Overview of Luxury Travel
Global Luxury Travel Competition Analysis by Players
Company (Top Players) Profiles
Global Luxury Travel Market Size by Type and Application (2018-2028)
United States Luxury Travel Development Status and Outlook
EU Luxury Travel Development Status and Outlook
Japan Luxury Travel Development Status and Outlook
China Luxury Travel Development Status and Outlook
India Luxury Travel Development Status and Outlook
Southeast Asia Luxury Travel Development Status and Outlook
Market Forecast by Regions, Type, and Application (2018-2025)
Luxury Travel Market Dynamics
Market Effect Factors Analysis
Research Finding/Conclusion
Appendix

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