The Asia Pacific Luxury Travel Market would witness market growth of 7.2% CAGR during the forecast period (2022-2028).
Affluent visitors are more attracted to places that are culturally and historically fascinating, as interest in learning about and understanding the local culture grows. In addition, as more individuals are exposed to various social media platforms, their knowledge of the numerous trends influencing the tourist business has increased.
A phoney vacation agency is evolving through social media. Customers are increasingly choosing travel-related services and goods based on recommendations from those who have visited or stayed there in the past. They also make reference to evaluations and analyses provided on different social networking websites. Views and opinions expressed on websites promote more product transparency and encourage customers to book their favourite trip destination. All these elements are leading to the expansion of luxury travel across the globe.
The demand for various services has increased as more travellers travel the world. Additionally, it is anticipated that rising tourism-related spending will benefit the wellness tourism sector. To guarantee consumer happiness, the service providers are concentrating on providing spa therapies and other activities.
Natural, historical, cultural, and spiritual treasures are abundant and diverse in India. To experience India's spiritual grandeur and Indian heritage, millions of local and foreign tourists visit. In fact, links to sacred or historic locations, people, or events have played a significant role in the development of many popular tourist destinations, making religion, spirituality, and legacy prominent reasons for travel. An integrated development of the chosen pilgrimage destinations and integrated development of heritage cities in collaboration with other stakeholders are required to fully realize the potential of pilgrimage and heritage tourism in India.
The China market dominated the Asia Pacific Luxury Travel Market by Country in 2021; thereby, achieving a market value of $136.2 Billion by 2028. The Japan market is registering a CAGR of 6.6% during (2022 - 2028). Additionally, The India market would showcase a CAGR of 8% during (2022 - 2028).
Based on Tour, the market is segmented into Safari & Adventure, Celebration Journeys, Culinary Travel & Shopping, Cruises, Yachting, & Small Ship Expeditions, Customized & Private Vacations and Others. Based on Age Group, the market is segmented into Baby Boomers, Generation X, Millennial and Silver Hair. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Luxury Travel Market is Projected to reach USD 1,574 Billion by 2028, at a CAGR of 6.3%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include TUI Group, Lindblad Expeditions Holdings, Inc., Thomas Cook (India) Limited (Fairfax Financial Holdings Limited), Scott Dunn, Abercrombie & Kent USA, LLC, Exodus Travels Limited, Travel Edge, Inc. (Navigatr Group), Butterfield & Robinson, Inc., Geographic Expeditions, Inc. and Micato Safaris.
By Tour
By Age Group
By Country
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