The Global Luxury Travel Market is Predict to reach $1,574 Billion by 2028, at a CAGR of 6.3%

Published Date: 24-Nov-2022

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Luxury Travel Market Growth, Trends and Report Highlights

According to a new report, published by KBV research, The Global Luxury Travel Market size is expected to reach $1,574 billion by 2028, rising at a market growth of 6.3% CAGR during the forecast period.

The Safari & Adventure market is leading the Global Luxury Travel Market by Tour in 2021; thereby, achieving a market value of $532.9 Billion by 2028. This is due to luxury travelers' desire for a deeper understanding of the local culture, feeling of nature, historical infrastructure, adventure, and a less congested environment. All age groups are becoming more interested in customized vacations that focus on safari and adventure, which is accelerating segment growth.

The Millennial market is poised to grow at a CAGR of 7.1% during (2022 - 2028). The millennial generation views luxury as something to be consumed purposefully. Compared to previous generations, they are more inclined to value travel. Young people in the millennial generation are motivated by a desire to travel and a desire to break up the monotony of everyday life. They prefer short visits to diverse, culturally rich nations, and local shopping and cuisine are also top draws for this age group. These factors might encourage the market's expansion during the anticipated period.

The Europe market dominated the Global Luxury Travel Market by Region in 2021; thereby, achieving a market value of $505.1 Billion by 2028. The North America market is anticipated to grow at a CAGR of 5.7% during (2022 - 2028). Additionally, The Asia Pacific market would witness a CAGR of 7.2% during (2022 - 2028).

Full Report: https://www.kbvresearch.com/luxury-travel-market/

The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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.

Global Luxury Travel Market Segmentation

By Tour

  • Safari & Adventure
  • Celebration Journeys
  • Culinary Travel & Shopping
  • Cruises, Yachting, & Small Ship Expeditions
  • Customized & Private Vacations
  • Others

By Age Group

  • Baby Boomers
  • Generation X
  • Millennial
  • Silver Hair

By Geography

  • North America
    • US
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Singapore
    • Malaysia
    • Rest of Asia Pacific
  • LAMEA
    • Brazil
    • Argentina
    • UAE
    • Saudi Arabia
    • South Africa
    • Nigeria
    • Rest of LAMEA

Companies Profiled

  • 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.
  • Micato Safaris

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Related Reports:

North America Luxury Travel Market Future Scope & Opportunities 2022-2028

Europe Luxury Travel Market Size & Growth Forecast 2022-2028

Asia Pacific Luxury Travel Market Size, Share & Industry Outlook to 2028

LAMEA Luxury Travel Market Growth, Trends & Forecasts 2022-2028

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