May 25, 2022

ElksGolf

Travelling Tomorrow

Luxury Travel Market – 30% of Growth to Originate from Europe| Increasing Disposable Incomes to Boost Market


NEW YORK, March 11, 2022 /PRNewswire/ — The “Luxury Travel Market by Type (Adventure, Personalized, Cruising and yachting, Culinary, and Others) and Geography (Europe, North America, APAC, MEA, and South America) – Forecast and Analysis 2021-2025” report has been added to Technavio’s offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years. 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. The growing disposable income, the increasing number of baby boomers, the presence of numerous exotic destinations, increasing demand for personalized vacations, availability of easy transport facilities, the rapid increase in the number of food and beverage festivals, and the presence of major vendors will facilitate the luxury travel market growth in Europe over the forecast period.

Technavio has announced its latest market research report titled Luxury Travel Market by Type, Consumer, and Geography - Forecast and Analysis 2021-2025

Technavio has announced its latest market research report titled Luxury Travel Market by Type, Consumer, and Geography – Forecast and Analysis 2021-2025

The potential growth difference for the luxury travel market between 2020 and 2025 is USD 1.23 trillion. To get the exact yearly growth variance and the Y-O-Y growth rate, Talk to our analyst.

Key Market Dynamics: Drivers & Challenges

  • Market Driver – The key factor driving growth in the luxury travel market is the increasing disposable income. Factors such as the rise in dual household income, per capita income, and rapid growth in the employment rate have driven the increase in disposable incomes worldwide. The growth in disposable income is expected to increase the spending and purchasing power of consumers. The boom in the tourism industry has also encouraged consumers to spend on travel and leisure activities with exotic holiday experiences. Therefore, the increasing disposable income boosts the demand for luxurious travel to different destinations across the world, which, in turn, is fostering the growth of the global luxury travel market.

  • Market Challenges – The inconsistent service quality will be a major challenge for the luxury travel market. The market vendors deal with diverse customers from different geographies. To maximize the degree of customer satisfaction, the vendors must cater to diverse preferences and seasonal demand. In addition, the high degree of diversity and inconsistency in supplier offerings impacts the quality of services offered by the existing market vendors. Thus, inconsistencies in a certain element in the value chain, such as a delay in service delivery or bad customer service, impact other elements as well. Fake advertisements often contribute to increased customer dissatisfaction, especially for luxury travel where the travelers pay a high amount for packages. Poor transportation and hospitality infrastructure in developing countries, especially in traditional and historic places, also pose a significant challenge to the global luxury travel market

To learn about additional key drivers, trends, and challenges- Read our FREE Sample
Report right now!

Key Market Dynamics: Segmentation Analysis

The luxury travel market report is segmented by Type (Adventure, Personalized, Cruising and yachting, Culinary, and Others) and Geography (Europe, North America, APAC, MEA, and South America).

Technavio report provides an accurate prediction of the contribution of all the segments to the growth of the luxury travel market size and actionable market insights on each segment.

View our sample report for additional insights into the contribution of all the segments,
and regional opportunities in the report.

Some Companies Mentioned

The luxury travel market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

  • To gain access to more vendor profiles with their key offerings available with
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Luxury Travel Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Decelerate at a CAGR of 26%

Market growth 2021-2025

USD 1.23 trillion

Market structure

Fragmented

YoY growth (%)

45.30

Performing market contribution

Europe at 30%

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Abercrombie & Kent USA LLC, Absolute Travel Inc., Butterfield & Robinson Inc., Classic Journeys, Cox & Kings Ltd., Indigenous Tourism BC, Odyssey World, Responsible Travel, Scott Dunn, and Travelopia

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Key Topics Covered:

1. Executive Summary

2. Market Landscape

2.1 Market ecosystem

Exhibit 01: Parent market

2.2 Market Characteristics

Exhibit 02: Market Characteristics

2.3 Value chain analysis

Exhibit 03: Value chain: Global hotels, restaurants, and leisure market

2.3.1 Inputs

2.3.2 Inbound logistics

2.3.3 Operations

2.3.4 Outbound logistics

2.3.5 Marketing and sales

2.3.6 Service

2.2.6 Support activities

2.2.7 Innovation

3. Market Sizing

3.1 Market definition

Exhibit 04: Offerings of vendors included in the market definition

3.2 Market segment analysis

Exhibit 05: Market segments

3.3 Market size 2020

3.4 Market outlook: Forecast for 2020 – 2025

Exhibit 06: Global – Market size and forecast 2020 – 2025 ($ billion)

Exhibit 07: Global market: Year-over-year growth 2020 – 2025 (%)

4. Five Forces Analysis

4.1 Five Forces Summary

Exhibit 08: Five forces analysis 2020 & 2025

4.2 Bargaining power of buyers

4.3 Bargaining power of suppliers

4.4 Threat of new entrants

4.5 Threat of substitutes

4.6 Threat of rivalry

4.7 Market condition

Market condition – Five forces 2020

5. Market Segmentation by type

The segments covered in this chapter are:

  • Adventure

  • Personalized

  • Cruising and yachting

  • Culinary

  • Others

5.1 Market segments

Exhibit 15: Type – Market share 2020-2025 (%)

5.2 Comparison by Type

Exhibit 16: Comparison by Type

5.3 Adventure – Market size and forecast 2020-2025

Exhibit 17: Adventure – Market size and forecast 2020-2025 ($ billion)

Exhibit 18: Adventure – Year-over-year growth 2020-2025 (%)

5.4 Personalized – Market size and forecast 2020-2025

Exhibit 19: Personalized – Market size and forecast 2020-2025 ($ billion)

Exhibit 20: Personalized – Year-over-year growth 2020-2025 (%)

5.5 Cruising and yachting – Market size and forecast 2020-2025

Exhibit 21: Cruising and yachting – Market size and forecast 2020-2025 ($ billion)

Exhibit 22: Cruising and yachting – Year-over-year growth 2020-2025 (%)

5.6 Culinary – Market size and forecast 2020-2025

Exhibit 23: Culinary – Market size and forecast 2020-2025 ($ billion)

Exhibit 24: Culinary – Year-over-year growth 2020-2025 (%)

5.7 Others – Market size and forecast 2020-2025

Exhibit 25: Others – Market size and forecast 2020-2025 ($ billion)

Exhibit 26: Others – Year-over-year growth 2020-2025 (%)

5.8 Market opportunity by Type

Exhibit 27: Market opportunity by Type

6. Market Segmentation by Consumer

The segments covered in this chapter are:

6.1 Market segments

Exhibit 28: Consumer – Market share 2020-2025 (%)

6.2 Comparison by Consumer

Exhibit 29: Comparison by Consumer

6.3 Domestic – Market size and forecast 2020-2025

Exhibit 30: Domestic – Market size and forecast 2020-2025 ($ billion)

Exhibit 31: Domestic – Year-over-year growth 2020-2025 (%)

6.4 International – Market size and forecast 2020-2025

Exhibit 32: International – Market size and forecast 2020-2025 ($ billion)

Exhibit 33: International – Year-over-year growth 2020-2025 (%)

6.5 Market opportunity by Consumer

Exhibit 34:Market opportunity by Consumer

7. Customer landscape

Exhibit 31: Customer landscape

8. Geographic Landscape

The regions covered in the report are:

  • Europe

  • North America

  • APAC

  • MEA

  • South America

8.1 Geographic segmentation

Exhibit 36: Market share by geography 2020-2025 (%)

8.2 Geographic comparison

Exhibit 37: Geographic comparison

8.3 Europe – Market size and forecast 2020-2025

Exhibit 38: Europe – Market size and forecast 2020-2025 ($ billion)

Exhibit 39: Europe – Year-over-year growth 2020-2025 (%)

8.4 North America – Market size and forecast 2020-2025

Exhibit 40: North America – Market size and forecast 2020-2025 ($ billion)

Exhibit 41: North America – Year-over-year growth 2020-2025 (%)

8.5 APAC – Market size and forecast 2020-2025

Exhibit 42: APAC – Market size and forecast 2020-2025 ($ billion)

Exhibit 43: APAC – Year-over-year growth 2020-2025 (%)

8.6 MEA – Market size and forecast 2020-2025

Exhibit 44: MEA – Market size and forecast 2020-2025 ($ billion)

Exhibit 45: MEA – Year-over-year growth 2020-2025 (%)

8.7 South America – Market size and forecast 2020-2025

Exhibit 46: South America – Market size and forecast 2020-2025 ($ billion)

Exhibit 47: South America – Year-over-year growth 2020-2025 (%)

8.8 Key leading countries

Exhibit 48: Key leading countries

8.9 Market opportunity by geography

9. Drivers, Challenges, and Trends

9.1 Market drivers

9.1.1 Increasing disposable incomes

9.1.2 Advances in technology

9.1.3 Growing digital connectivity

9.1.4 Increased preference for luxury travel to break monotony

9.2 Market challenges

9.2.1 Inconsistent service quality

9.2.2 Threat of natural calamities and other issues

9.2.3 Travel fatigue

Exhibit 50: Impact of drivers and challenges

9.3 Market trends

9.3.1 Trending sports tourism

9.3.2 Growing demand for multigenerational and micro trips

9.3.3 Higher acceptance of online travel agencies

9.3.4 Personalization of guest data

10. Vendor Landscape

10.1 Competitive scenario

10.2 Vendor landscape

Exhibit 51: Vendor landscape

10.3 Landscape disruption

The potential for the disruption of the market landscape was moderate in 2020, and its threat is expected to remain unchanged by 2025.

Exhibit 52: Landscape disruption

10.4 Industry risks

Exhibit 53: Industry risks

11. Vendor Analysis

11.1 Vendors covered

Exhibit 54: Vendors covered

11.2 Market positioning of vendors

Exhibit 55: Market positioning of vendors

11.3 Abercrombie & Kent USA LLC

Exhibit 56: Abercrombie & Kent USA LLC – Overview

Exhibit 57: Abercrombie & Kent USA LLC – Product and service

Exhibit 58: Abercrombie & Kent USA LLC – Key news

Exhibit 59: Abercrombie & Kent USA LLC – Key offerings

11.4 Absolute Travel Inc

Exhibit 60: Absolute Travel Inc. – Overview

Exhibit 61: Absolute Travel Inc. – Product and service

Exhibit 62: Absolute Travel Inc. – Key offerings

11.5 Butterfield & Robinson Inc.

Exhibit 63: Butterfield & Robinson Inc. – Overview

Exhibit 64: Butterfield & Robinson Inc. – Product and service

Exhibit 65: Butterfield & Robinson Inc. – Key offerings

11.6 Classic Journeys

Exhibit 66: Classic Journeys – Overview

Exhibit 67: Classic Journeys – Product and service

Exhibit 68: Classic Journeys – Key news

Exhibit 69: Classic Journeys – Key offerings

11.7 Cox & Kings Ltd

Exhibit 70: Cox & Kings Ltd. – Overview

Exhibit 71: Cox & Kings Ltd. – Product and service

Exhibit 72: Cox & Kings Ltd. – Key news

Exhibit 73: Cox & Kings Ltd. – Key offerings

11.8 Indigenous Tourism BC

Exhibit 74: Indigenous Tourism BC – Overview

Exhibit 75: Indigenous Tourism BC – Product and service

Exhibit 76: Indigenous Tourism BC – Key news

Exhibit 77: Indigenous Tourism BC – Key offerings

11.9 Odyssey World

Exhibit 78: Odyssey World – Overview

Exhibit 79: Odyssey World – Product and service

Exhibit 80: Odyssey World – Key news

Exhibit 81: Odyssey World – Key offerings

11.10 Responsible Travel

Exhibit 82: Responsible Travel – Overview

Exhibit 83: Responsible Travel – Product and service

Exhibit 84: Responsible Travel – Key offerings

11.11 Scott Dunn

Exhibit 85: Scott Dunn – Overview

Exhibit 86: Scott Dunn – Product and service

Exhibit 87: Scott Dunn – Key offerings

11.12 Travelopia

Exhibit 88: Travelopia – Overview

Exhibit 89: Travelopia – Product and service

Exhibit 90: Travelopia – Key news

Exhibit 91: Travelopia – Key offerings

12. Appendix

12.1 Scope of the report

12.1.1 Market definition

12.1.2 Objectives

12.1.3 Notes and caveats

12.2 Currency conversion rates for US$

Exhibit 92: Currency conversion rates for US$

12.3 Research Methodology

Exhibit 93: Research Methodology

Exhibit 94: Validation techniques employed for market sizing

Exhibit 95: Information sources

12.4 List of abbreviations

Exhibit 96: List of abbreviations

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