Luxury Travel Market Worth $2.5 Trillion By 2025 Owing To Increasing Disposable Income Emerging Tourism And Corporate Industries All Across The Globe | Grand View Research, Inc.

Luxury Travel Market Worth $2.5 Trillion By 2025 Owing To Increasing Disposable Income Emerging Tourism And Corporate Industries All Across The Globe | Grand View Research, Inc.

Grand View Research, Inc. – Market Research And Consulting
According to a recent report published by Grand View Research Inc., the growing prevalence for personalized travel service and professional interaction is expected to pump the market growth. On the other hand, governments are imposing travel restrictions overseas to prevent the spread of Covid-19 infection.

The global luxury travel market size is expected to reach at USD 2.5 Trillion by 2025 to expand at CAGR of 4.6%. Elite travelers are preferring to visit unexplored destinations to gain experience and understand the new cultures worldwide. Moreover, they are planning unique trips that include cultural visits, cruising, and adventure activities putting experience over ownership.

Travelers now care for access over acquisition and experience over possession, thereby contributing to the growth of the market. Micro trips the new trend in the industry is expected to boost the market in the forecasted period. Travelers are squeezing in more travel itineraries into shorter time frames. To stay and spend quality time during short getaways in a unique and remarkable type of accommodation is expected to become trendy in the forecast period.

Amid the pandemic, countries around the world are juggling hard to restore normalcy and move forward adhering to safety protocols. However, the travel industry being severely hit by the pandemic is surviving gradually as countries resume to ease travel restrictions. This has led in adoption of novel practice for safety and hygiene. Several travel advisors are now ensuring flexibility in bookings without any hassle of terms and conditions. 

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Luxury Travel Market Report Highlights

 By tour, the safari and adventure segment is projected to ascend at a CAGR of 4.3% over the forecast period in luxury travel market

By age group, baby boomers held an overall revenue share of over 40.0% in 2018

U.S., U.K., Germany, China, India, Brazil, and South Africa are the major countries with the largest market in their respective regions.

North America is the large market for luxury travel owing to popularity of travel destinations and easy availability of air travel.

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Luxury Travel Market Segmentation

Grand View Research has segmented the global luxury travel market on the basis of tour, age group, and region:

Luxury Travel Tour Outlook (Revenue, USD Billion, 2015 – 2025)

     Customized & Private Vacations
     Safari & Adventure
     Cruises, Yachting & Small Ship Expeditions
     Celebration Journeys
     Culinary Travel & Shopping

Luxury Travel Age Group Outlook (Revenue, USD Billion, 2015 – 2025)

     Generation X
     Baby Boomers
     Silver Hair

Luxury Travel Regional Outlook (Revenue, USD Billion, 2015 – 2025)

     North America
        • The U.S.
        • Germany
        • The U.K.
     Asia Pacific
        • China
        • India
     Central & South America
        • Brazil
     Middle East & Africa
        • South Africa

List of Key Players of Luxury Travel Market
    • TÜ Elite.
    • TCS World Travel
    • Abercrombie & Kent USA
    • TUI Group.
    • Micato Safaris
    • Butterfield & Robinson Inc.
    • Scott Dunn Ltd.
    • Cox & Kings Ltd.
    • Exodus travels
    • Lindblad Expeditions

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About Grand View Research

Grand View Research is an India & U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services.

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