The latest market analysis report titled Luxury Travel Market by Type, Consumer, and Geography - Forecast and Analysis 2021-2025 identifies the market potential growth.
The luxury travel market is also anticipated to witness a decelerating growth momentum at a CAGR of 25.7% during the projected period.
Technavio has announced its latest market research report titled Luxury Travel Market by Type, Consumer, and Geography - Forecast and Analysis 2021-2025
Luxury Travel Market Vendor Landscape
- The market is fragmented, and the degree of fragmentation will decelerate during the forecast period. Competitors have to focus on differentiating their product offerings with unique value propositions to strengthen their foothold in the market.
- Market vendors also have to leverage the existing growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
- To make the most of the opportunities and recover from post pandemic impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
- The luxury travel market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Top luxury travel market participants covered in this report with product offerings are:
- Indigenous Tourism BC-The company provides luxurious travels related to culinary and wildlife in various destinations across the globe.
- Classic Journeys-The company provides a comprehensive range of luxury travels including culinary travel, personalized vacation, and river cruising, among others in destinations such as Croatia, Chile, Patagonia, Costa Rica, Morocco, and others.
- Abercrombie & Kent USA LLC-The company provides luxury travel across destinations around the world.
Some other companies classified as dominant players in the report are:
- Absolute Travel Inc.
- Odyssey World
- Responsible Travel
- Scott Dunn
- Travelopia
- Butterfield & Robinson Inc
- Cox & Kings Ltd
Luxury Travel Market Revenue-generating Segment Highlights
Consumer
- Domestic: The domestic luxury travel segment is anticipated to contribute to significant market growth. The growth in domestic luxury travel is driven by easy government regulations, lack of currency exchange issues, and the familiarity of the culture and the language. India, China, and the US are the most preferred destinations for domestic luxury travel. The number of domestic tourists has increased significantly in these countries.
Various vendors in the global domestic luxury travel market are offering travel tours to famous places in their home country, which have picturesque natural beauty and offer exposure to the cultural and traditional beauty of places. For instance, Intrepid Group Ltd. offers domestic luxury travel services in Morocco.
- International
Type
- Adventure:
- Personalized
- Cruising And Yachting
- Culinary,
- Others
Geography
- Europe: 30% of the market's growth will originate from Europe during the forecast period. Germany, France, and the UK are the key markets for luxury travel in Europe. Market growth in this region will be slower than the growth of the market in other regions. Factors such as the growing disposable income, the increasing number of baby boomers, and increasing demand for personalized vacations will fuel the market growth. In addition, the presence of numerous exotic destinations, availability of easy transport facilities, the rapid increase in the number of food and beverage festivals, and the presence of major vendors will propel the luxury travel market growth in Europe over the forecast period.
- North America
- APAC
- MEA
- South America
Luxury Travel Market Scope
Technavio calculates the global hotels, restaurants, and leisure industry market size based on combined revenue generated by companies of casinos and gaming; hotels, restaurants, and leisure; leisure facilities; and restaurants.
Our report provides extensive information on the value chain analysis for the luxury travel market, which vendors can leverage to gain a competitive advantage during the forecast period. Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources.
The luxury travel market report covers the following areas:
- Luxury Travel Market Size
- Luxury Travel Market Trends
- Luxury Travel Market Industry Analysis
- Luxury Travel Market 2021-2025: Key Highlights
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will assist luxury travel market growth during the next five years
- Estimation of the luxury travel market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the luxury travel market
- Analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of luxury travel market, vendors
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