Global Luxury Travel Market Report 2023: Increasing Adoption of Digital Media Drives Growth

Dublin, May 18, 2023 (GLOBE NEWSWIRE) -- The "Luxury Travel Market, By Category, By Age Group, By Type, and By Region - Size, Share, Outlook, and Opportunity Analysis, 2023 - 2030" report has been added to's offering.

This report provides in-depth analysis of global luxury travel market and provides market size (US$ Billion) and compound annual growth rate (CAGR %) for the forecast period (2023- 2030), considering 2022 as the base year.

Company Profiles

  • Abercrombie & Kent USA
  • Absolute Travel
  • Inspiring Travel Company
  • TCS World Travel
  • Cox & Kings Ltd.
  • Travcoa
  • Micato Safaris
  • Scott Dunn Ltd.
  • Kensington Tours Ltd.
  • Butterfield & Robinson

Luxury travel includes an enhancing experience with a combination of most desirable destinations, luxurious and serene accommodations, convenient commute, and a royal traveling experience. Luxury travel can be categorized into adventure & safari, cruise, rail journey, culinary travelling & shopping, customized & private vacations, and celebration.

Among age group, baby boomers segment held a dominant position in the market in 2022, followed by millennials and generation X segments, owing to increasing disposable income in the age group. These generations have a continuous source of income, as the number of working individuals is continuously increasing.

According to Ministry of Labour and Employment, on 27 Jan 2022, Employment is showing an increasing trend in the selected sectors of the economy: Union Minister for Labour & Employment The estimated employment increases from 3.14 crore of third quarter to 3.18 crore of 4th Quarter Manufacturing sector accounts for the largest percentage of the total number of workers Women far outnumber men among self-employed persons in Financial Services.

Increasing adoption of digital media has simplified the processes related to luxury travel industry. Bookings can be confirmed via online applications or websites, and payments can be made through credit cards, debit cards or any other online mode of payment. Social media platforms are useful for the customers as well as for the vendors. Travellers as well as the vendors constantly keep themselves updated with the latest trends related to the luxury traveling. This is attributed to increasing use of internet, smartphones, laptops, and tablets.

Key features of the study:

  • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by key players
  • It profiles key players in the global luxury travel market based on the following parameters - company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Global luxury travel market report caters to various stakeholders in this industry including investors, suppliers, luxury travel manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the global luxury travel market

Key Attributes:

Report AttributeDetails
No. of Pages160
Forecast Period2022 - 2030
Estimated Market Value (USD) in 2022$241.4 Billion
Forecasted Market Value (USD) by 2030$440.4 Billion
Compound Annual Growth Rate7.8%
Regions CoveredGlobal

Detailed Segmentation:

Global Luxury Travel Market, By Category:

  • Adventure & Safari
  • Cruise
  • Rail Journey
  • Culinary Travelling & Shopping
  • Customized & Private Vacations
  • Celebration

Global Luxury Travel Market, By Age Group:

  • Millennials
  • Generation X
  • Baby Boomers
  • Silver hair

Global Luxury Travel Market, By Type:

  • Domestic
  • International

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Global Luxury Travel Market

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