Wednesday, February 21, 2024

Luxury travel market size is set to grow by USD 703.14 billion between 2022 and 2027; Europe will account for 29% of the market growth – Technavio

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NEW YORK, Feb. 28, 2023 /PRNewswire/ — The global luxury travel market will witness an incremental growth of USD 703.14 billion between 2022 and 2027, accelerating at a CAGR of 11.5% during the forecast period. Europe will account for 29% of the market growth during the forecast period. The major factors contributing to the growth of the Europe region consist of the growing disposable income, the presence of numerous exotic destinations, the increasing demand for personalized vacations, the availability of easy transport facilities, and the rapid increase in the number of food and beverage festivals. For more insights on the historic (2017 to 2021) and forecast market size (2023 to 2027) – Request a PDF Report Sample 

Luxury Travel Market 2023-2027: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The report extensively covers market segmentation by type (adventure, personalized, cruising and yachting, culinary, and others) and geography (Europe, North America, APAC, Middle East and Africa, and South America). The luxury travel market report covers the following areas:

Luxury Travel Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 11.5%

Market growth 2023-2027

USD 703.14 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

10.35

Regional analysis

Europe, North America, APAC, Middle East and Africa, and South America

Performing market contribution

Europe at 29%

Key countries

Canada, Mexico, Italy, Spain,Japan, Australia,India, South Korea

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Abercrombie and Kent USA LLC, Butterfield and Robinson Inc., Classic Journeys, Exodus Travels Ltd., G Adventures, Indigenous Tourism BC, Intrepid Group, Lindblad Expeditions Holdings Inc., Micato Safaris Inc., Myths and Mountains Inc., Odyssey World, Responsible Travel, Scott Dunn Ltd., Tandem Travel OOD, Tauck Inc., Travelopia Group, Wilderness Travel Inc., Geographic Expeditions Inc., and Absolute Travel Inc.

Market dynamics

Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and 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.

What`s New for 2023?

  • Special coverage on the RussiaUkraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
  • Global competitiveness and key competitor positions
  • Market presence across multiple geographical footprints – Strong/Active/Niche/Trivial

Luxury travel Market 2023-2027: Vendor Landscape

The global luxury travel market is fragmented due to the presence of several global and regional players. VAbercrombie and Kent USA LLC, Butterfield and Robinson Inc., Classic Journeys, Exodus Travels Ltd., G Adventures, Indigenous Tourism BC, Intrepid Group, Lindblad Expeditions Holdings Inc., Micato Safaris Inc., Myths and Mountains Inc., Odyssey World, Responsible Travel, Scott Dunn Ltd., Tandem Travel OOD, Tauck Inc., Travelopia Group, Wilderness Travel Inc., Geographic Expeditions Inc., and Absolute Travel Inc. are among some of the major market participants.

Luxury Travel Market 2023-2027: Segmentation

The luxury travel market is segmented as below:

  • Type 
    • Adventure
    • Personalized
    • Cruising and yachting
    • Culinary
    • Others

The market growth in the adventure segment will be significant during the forecast period. The growth of the segment can be attributed to factors such as the increasing inclination toward adventure travel among millennials and the growing number of offerings of adventurous activities at exotic locations.

  • Geography 
    • Europe 
      • The U.K.
      • Germany
      • France
      • Rest of Europe
    • North America 
    • APAC 
    • Middle East & Africa 
      • Saudi Arabia
      • South Africa
      • Rest of the Middle East & Africa
    • South America 

For insights on global, regional, and country-level parameters with growth opportunities from 2017 to 2027 – Download a Sample Report

Luxury travel Market 2023-2027: Key Highlights

  • CAGR of the market during the forecast period 2023-2027
  • 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

Why Buy?

  • Add credibility to strategy
  • Analyzes competitor’s offerings
  • Get a holistic view of the market

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Related Reports:

  • The cultural tourism market is estimated to grow at a CAGR of 20.77% between 2022 and 2027. The size of the market is forecast to increase by USD 6600.71 million. The growing affordability is notably driving the cultural tourism market growth, although factors such as the high impact of terrorism may impede the market growth.
  • The culinary tourism market is estimated to grow at a CAGR of 17.45% and the size of the market is forecast to increase by USD 126.28 billion between 2022 and 2027. The rising preference for culinary tourism is notably driving the market growth, although factors such as the growing threat of terrorism among tourists may impede the market growth.

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Table of Contents:

1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Consumer
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis 
    • Exhibit 13: Market segments
  • 3.4 Market outlook: Forecast for 2022-2027 
    • Exhibit 14: Chart on Global – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
    • Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

  • 4.1 Global luxury travel market 2017 – 2021 
    • Exhibit 18: Historic Market Size – Data Table on Global luxury travel market 2017 – 2021 ($ billion)
  • 4.2 Consumer Segment Analysis 2017 – 2021 
    • Exhibit 19: Historic Market Size – Consumer Segment 2017 – 2021 ($ billion)
  • 4.3 Type Segment Analysis 2017 – 2021 
    • Exhibit 20: Historic Market Size – Type Segment 2017 – 2021 ($ billion)
  • 4.4 Geography Segment Analysis 2017 – 2021 
    • Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 ($ billion)
  • 4.5 Country Segment Analysis 2017 – 2021 
    • Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 ($ billion)

5 Five Forces Analysis

  • 5.1 Five forces summary
    • Exhibit 23: Five forces analysis – Comparison between2022 and 2027
  • 5.2 Bargaining power of buyers 
    • Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
  • 5.3 Bargaining power of suppliers 
    • Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
  • 5.4 Threat of new entrants 
    • Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
  • 5.5 Threat of substitutes 
    • Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
  • 5.6 Threat of rivalry
    • Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
  • 5.7 Market condition
    • Exhibit 29: Chart on Market condition – Five forces 2022 and 2027

6 Market Segmentation by Consumer

  • 6.1 Market segments
    • Exhibit 30: Chart on Consumer – Market share 2022-2027 (%)
    • Exhibit 31: Data Table on Consumer – Market share 2022-2027 (%)
  • 6.2 Comparison by Consumer 
    • Exhibit 32: Chart on Comparison by Consumer
    • Exhibit 33: Data Table on Comparison by Consumer
  • 6.3 Domestic – Market size and forecast 2022-2027 
    • Exhibit 34: Chart on Domestic – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 35: Data Table on Domestic – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 36: Chart on Domestic – Year-over-year growth 2022-2027 (%)
    • Exhibit 37: Data Table on Domestic – Year-over-year growth 2022-2027 (%)
  • 6.4 International – Market size and forecast 2022-2027 
    • Exhibit 38: Chart on International – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 39: Data Table on International – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 40: Chart on International – Year-over-year growth 2022-2027 (%)
    • Exhibit 41: Data Table on International – Year-over-year growth 2022-2027 (%)
  • 6.5 Market opportunity by Consumer 
    • Exhibit 42: Market opportunity by Consumer ($ billion)

7 Market Segmentation by Type

  • 7.1 Market segments
    • Exhibit 43: Chart on Type – Market share 2022-2027 (%)
    • Exhibit 44: Data Table on Type – Market share 2022-2027 (%)
  • 7.2 Comparison by Type
    • Exhibit 45: Chart on Comparison by Type
    • Exhibit 46: Data Table on Comparison by Type
  • 7.3 Adventure – Market size and forecast 2022-2027 
    • Exhibit 47: Chart on Adventure – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 48: Data Table on Adventure – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 49: Chart on Adventure – Year-over-year growth 2022-2027 (%)
    • Exhibit 50: Data Table on Adventure – Year-over-year growth 2022-2027 (%)
  • 7.4 Personalized – Market size and forecast 2022-2027 
    • Exhibit 51: Chart on Personalized – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 52: Data Table on Personalized – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 53: Chart on Personalized – Year-over-year growth 2022-2027 (%)
    • Exhibit 54: Data Table on Personalized – Year-over-year growth 2022-2027 (%)
  • 7.5 Cruising and yachting – Market size and forecast 2022-2027 
    • Exhibit 55: Chart on Cruising and yachting – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 56: Data Table on Cruising and yachting – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 57: Chart on Cruising and yachting – Year-over-year growth 2022-2027 (%)
    • Exhibit 58: Data Table on Cruising and yachting – Year-over-year growth 2022-2027 (%)
  • 7.6 Culinary – Market size and forecast 2022-2027 
    • Exhibit 59: Chart on Culinary – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 60: Data Table on Culinary – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 61: Chart on Culinary – Year-over-year growth 2022-2027 (%)
    • Exhibit 62: Data Table on Culinary – Year-over-year growth 2022-2027 (%)
  • 7.7 Others – Market size and forecast 2022-2027 
    • Exhibit 63: Chart on Others – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 64: Data Table on Others – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 65: Chart on Others – Year-over-year growth 2022-2027 (%)
    • Exhibit 66: Data Table on Others – Year-over-year growth 2022-2027 (%)
  • 7.8 Market opportunity by Type 
    • Exhibit 67: Market opportunity by Type ($ billion)

8 Customer Landscape

  • 8.1 Customer landscape overview 
    • Exhibit 68: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

  • 9.1 Geographic segmentation 
    • Exhibit 69: Chart on Market share by geography 2022-2027 (%)
    • Exhibit 70: Data Table on Market share by geography 2022-2027 (%)
  • 9.2 Geographic comparison 
    • Exhibit 71: Chart on Geographic comparison
    • Exhibit 72: Data Table on Geographic comparison
  • 9.3 Europe – Market size and forecast 2022-2027 
    • Exhibit 73: Chart on Europe – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 74: Data Table on Europe – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 75: Chart on Europe – Year-over-year growth 2022-2027 (%)
    • Exhibit 76: Data Table on Europe – Year-over-year growth 2022-2027 (%)
  • 9.4 North America – Market size and forecast 2022-2027 
    • Exhibit 77: Chart on North America – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 78: Data Table on North America – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 79: Chart on North America – Year-over-year growth 2022-2027 (%)
    • Exhibit 80: Data Table on North America – Year-over-year growth 2022-2027 (%)
  • 9.5 APAC – Market size and forecast 2022-2027 
    • Exhibit 81: Chart on APAC – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 82: Data Table on APAC – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 83: Chart on APAC – Year-over-year growth 2022-2027 (%)
    • Exhibit 84: Data Table on APAC – Year-over-year growth 2022-2027 (%)
  • 9.6 Middle East and Africa – Market size and forecast 2022-2027 
    • Exhibit 85: Chart on Middle East and Africa – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 86: Data Table on Middle East and Africa – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 87: Chart on Middle East and Africa – Year-over-year growth 2022-2027 (%)
    • Exhibit 88: Data Table on Middle East and Africa – Year-over-year growth 2022-2027 (%)
  • 9.7 South America – Market size and forecast 2022-2027 
    • Exhibit 89: Chart on South America – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 90: Data Table on South America – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 91: Chart on South America – Year-over-year growth 2022-2027 (%)
    • Exhibit 92: Data Table on South America – Year-over-year growth 2022-2027 (%)
  • 9.8 US – Market size and forecast 2022-2027 
    • Exhibit 93: Chart on US – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 94: Data Table on US – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 95: Chart on US – Year-over-year growth 2022-2027 (%)
    • Exhibit 96: Data Table on US – Year-over-year growth 2022-2027 (%)
  • 9.9 Germany – Market size and forecast 2022-2027 
    • Exhibit 97: Chart on Germany – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 98: Data Table on Germany – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 99: Chart on Germany – Year-over-year growth 2022-2027 (%)
    • Exhibit 100: Data Table on Germany – Year-over-year growth 2022-2027 (%)
  • 9.10 China – Market size and forecast 2022-2027 
    • Exhibit 101: Chart on China – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 102: Data Table on China – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 103: Chart on China – Year-over-year growth 2022-2027 (%)
    • Exhibit 104: Data Table on China – Year-over-year growth 2022-2027 (%)
  • 9.11 France – Market size and forecast 2022-2027 
    • Exhibit 105: Chart on France – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 106: Data Table on France – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 107: Chart on France – Year-over-year growth 2022-2027 (%)
    • Exhibit 108: Data Table on France – Year-over-year growth 2022-2027 (%)
  • 9.12 UK – Market size and forecast 2022-2027 
    • Exhibit 109: Chart on UK – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 110: Data Table on UK – Market size and forecast 2022-2027 ($ billion)
    • Exhibit 111: Chart on UK – Year-over-year growth 2022-2027 (%)
    • Exhibit 112: Data Table on UK – Year-over-year growth 2022-2027 (%)
  • 9.13 Market opportunity by geography 
    • Exhibit 113: Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

  • 10.3 Impact of drivers and challenges 
    • Exhibit 114: Impact of drivers and challenges in 2022 and 2027

11 Vendor Landscape

  • 11.2 Vendor landscape
    • Exhibit 115: Overview on Criticality of inputs and Factors of differentiation
  • 11.3 Landscape disruption
    • Exhibit 116: Overview on factors of disruption
  • 11.4 Industry risks
    • Exhibit 117: Impact of key risks on business

12 Vendor Analysis

  • 12.1 Vendors covered
    • Exhibit 118: Vendors covered
  • 12.2 Market positioning of vendors 
    • Exhibit 119: Matrix on vendor position and classification
  • 12.3 Abercrombie and Kent USA LLC 
    • Exhibit 120: Abercrombie and Kent USA LLC – Overview
    • Exhibit 121: Abercrombie and Kent USA LLC – Product / Service
    • Exhibit 122: Abercrombie and Kent USA LLC – Key offerings
  • 12.4 Absolute Travel Inc.
    • Exhibit 123: Absolute Travel Inc. – Overview
    • Exhibit 124: Absolute Travel Inc. – Product / Service
    • Exhibit 125: Absolute Travel Inc. – Key offerings
  • 12.5 Butterfield and Robinson Inc. 
    • Exhibit 126: Butterfield and Robinson Inc. – Overview
    • Exhibit 127: Butterfield and Robinson Inc. – Product / Service
    • Exhibit 128: Butterfield and Robinson Inc. – Key offerings
  • 12.6 Classic Journeys
    • Exhibit 129: Classic Journeys – Overview
    • Exhibit 130: Classic Journeys – Product / Service
    • Exhibit 131: Classic Journeys – Key offerings
  • 12.7 Exodus Travels Ltd.
    • Exhibit 132: Exodus Travels Ltd. – Overview
    • Exhibit 133: Exodus Travels Ltd. – Product / Service
    • Exhibit 134: Exodus Travels Ltd. – Key offerings
  • 12.8 G Adventures
    • Exhibit 135: G Adventures – Overview
    • Exhibit 136: G Adventures – Product / Service
    • Exhibit 137: G Adventures – Key offerings
  • 12.9 Geographic Expeditions Inc 
    • Exhibit 138: Geographic Expeditions Inc – Overview
    • Exhibit 139: Geographic Expeditions Inc – Product / Service
    • Exhibit 140: Geographic Expeditions Inc – Key offerings
  • 12.10 Indigenous Tourism BC 
    • Exhibit 141: Indigenous Tourism BC – Overview
    • Exhibit 142: Indigenous Tourism BC – Product / Service
    • Exhibit 143: Indigenous Tourism BC – Key offerings
  • 12.11 Lindblad Expeditions Holdings Inc. 
    • Exhibit 144: Lindblad Expeditions Holdings Inc. – Overview
    • Exhibit 145: Lindblad Expeditions Holdings Inc. – Business segments
    • Exhibit 146: Lindblad Expeditions Holdings Inc. – Key offerings
    • Exhibit 147: Lindblad Expeditions Holdings Inc. – Segment focus
  • 12.12 Micato Safaris Inc.
    • Exhibit 148: Micato Safaris Inc. – Overview
    • Exhibit 149: Micato Safaris Inc. – Product / Service
    • Exhibit 150: Micato Safaris Inc. – Key offerings
  • 12.13 Odyssey World
    • Exhibit 151: Odyssey World – Overview
    • Exhibit 152: Odyssey World – Product / Service
    • Exhibit 153: Odyssey World – Key offerings
  • 12.14 Responsible Travel
    • Exhibit 154: Responsible Travel – Overview
    • Exhibit 155: Responsible Travel – Product / Service
    • Exhibit 156: Responsible Travel – Key offerings
  • 12.15 Scott Dunn Ltd.
    • Exhibit 157: Scott Dunn Ltd. – Overview
    • Exhibit 158: Scott Dunn Ltd. – Product / Service
    • Exhibit 159: Scott Dunn Ltd. – Key offerings
  • 12.16 Tandem Travel OOD
    • Exhibit 160: Tandem Travel OOD – Overview
    • Exhibit 161: Tandem Travel OOD – Product / Service
    • Exhibit 162: Tandem Travel OOD – Key offerings
  • 12.17 Travelopia Group
    • Exhibit 163: Travelopia Group – Overview
    • Exhibit 164: Travelopia Group – Product / Service
    • Exhibit 165: Travelopia Group – Key offerings

13 Appendix

  • 13.2 Inclusions and exclusions checklist 
    • Exhibit 166: Inclusions checklist
    • Exhibit 167: Exclusions checklist
  • 13.3 Currency conversion rates for US$ 
    • Exhibit 168: Currency conversion rates for US$
  • 13.4 Research methodology
    • Exhibit 169: Research methodology
    • Exhibit 170: Validation techniques employed for market sizing
    • Exhibit 171: Information sources
  • 13.5 List of abbreviations 
    • Exhibit 172: List of abbreviations

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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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