The Global Luxury Travel Market size is expected to grow from USD 1.73 billion in 2023 to USD 4.25 billion by 2032, at a CAGR of 10.5 % during the forecast period (2024-2032).
The Luxury Travel Market has become a very successful event in the luxury travel industry. This is a B2B event for luxury supplier companies that want to make new connections and strengthen existing relationships in the CIS market. Companies participating in the Luxury Travel Mart include five-star hotels and resorts, leading car companies, cruise boat charters, private jet charters, DMC luxury operators and most of the well-known luxury travel industry every year in LTM are participants and continue to be a type of fulfillment.
This B2B event is well thought out and planned to give vendors and potential business buyers – companies that work with VIP clients, the chance to network in one day. The main objective of the developers of Luxury Travel Mart was to expand the sales landscape of the show participants and also to introduce the players to new destinations and services that were not available before.
Who are the key players operating in the industry?
Abercrombie & Kent USA, LLC. (USA), Cox & Kings Ltd. (India), Butterfield & Robinson Inc. (Canada), Scott Dunn Ltd. (UK), Kensington Tours Ltd. (US), Micato Safaris (India), Thomas Cook Ltd. (India), Meredith Corporation, LLC (US), Travcoa Corporation (California), Belmond Ltd. (UK), Four Seasons Hotels and Resorts (Canada), Aman Resorts (Singapore), The Ritz-Carlton Hotel Company (USA), Luxury Travel Group (Australia), PrivateFly (UK), Hurtigruten Expeditions (Norway), Tauck (USA), Silversea Cruises (Luxembourg), Virtuoso (USA), TUI AG, (Germany), and other major players.
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The Report on Platform As A Market provides detailed analysis of segments in the market based on:
- Adventure & Safari
- Customized & Private
- Celebration & Special Events
- Cruise/Ship Expedition, Others
By Age Group
- Millennial
- Generation X
- Baby Boomers
By Region
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
- Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
- Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
- South America (Brazil, Argentina, Rest of SA)
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Key Benefits For Stakeholders
- Comprehensive Market Analysis:
- Provides a quantitative analysis of market segments, current trends, estimations, and dynamics from 2021 to 2031.
- Identifies prevailing opportunities within the luxury travel market.
- Key Market Insights:
- Includes information related to key drivers, restraints, and opportunities affecting the market.
- Helps stakeholders understand the factors influencing market growth and challenges.
- Porter’s Five Forces Analysis:
- Highlights the potency of buyers and suppliers.
- Enables stakeholders to make profit-oriented business decisions.
- Strengthens the supplier-buyer network.
- In-Depth Segmentation Analysis:
- Assists in determining prevailing market opportunities through detailed market segmentation analysis.
- Offers insights into different market segments and their growth potential.
Possibility in amazing places and amazing technology
Throughout the forecast period, the luxury travel will enjoy lucrative opportunity due to the enhanced ability of people to travel with sophisticated technology. High-speed internet and cutting-edge programs that facilitate online hotel and airline ticket booking are among the features of modern technology. As a result, consumers may simply cancel their trip reservations, read online evaluations of any hotel or destination, and verify the amenities offered by lodging establishments. For example, digitalization facilitates the collection of more information about destination destinations explored by luxury travel provider Airbnb. Additionally, using speakers and smartphones, the luxury travel sectors implemented artificial intelligence-based speech search and voice control.
Market Drivers
- Economic Growth: Rising global wealth, especially among emerging markets, increases demand for luxury travel.
- Digital Transformation: Enhanced accessibility to luxury travel options through online platforms and digital marketing.
- Changing Consumer Preferences: A shift towards experiential and transformative travel rather than material consumption.
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Report Scope
| Attributes | Details |
| Estimated Market Size in 2023 | US$ 1.73 billion |
| Market Valuation in 2032 | US$ 4.25 billion |
| Value-based CAGR 2024 to 2032 | 10.5% |
| Forecast Period | 2024 to 2032 |
| Historical Data | 2017 to 2023 |
Key Industry Development In The Luxury Travel Market
- In September 2022, Kensington Tours developed a new online portal that allows travel professionals to complete FIT quotes to more than 80 countries in record time.
- In November 2021, a luxury travel provider company, White Desert launched Echo which provides access to the Antarctica continent for rarely-seen interior views and luxurious experiences.
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