Luxury Travel Market Size to Grow by USD 1.23 Tn | Europe to Contribute to 30% of the Market Growth | Technavio
NEW YORK, June 27, 2022 /PRNewswire/ -- The latest market analysis report titled Luxury Travel Market by Type, Consumer, and Geography - Forecast and Analysis 2021-2025 has been added to Technavio's catalog. The report identifies the market potential growth difference to reach USD 1.23 trillion from 2020 to 2025, as per the reports. The luxury travel market is also anticipated to witness a decelerating growth momentum at a CAGR of 25.7% during the projected period.
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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
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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:
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
Exhibit 49: Market opportunity by geography ($ billion)
9 Drivers, Challenges, and Trends
9.1 Market drivers
9.2 Market challenges
Exhibit 50: Impact of drivers and challenges
9.3 Market trends
10 Vendor Landscape
10.1 Overview
10.2 Vendor landscape
Exhibit 51: Vendor landscape
10.3 Landscape disruption
Exhibit 52: Landscape disruption
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
12.2 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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