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(I-TravelNewswire.Com, February 27, 2019 ) Luxury travel today is defined less by thread count and Michelin stars and more by access to the people, places and experiences that represent all that is authentic about a destination. There's no denying that comfort factors still apply and high standards of accommodation and dining will always feature on the luxury traveller's wish list. However, today's luxury traveller seeks more depth of understanding and immersion into local culture than ever before. People don't just want to see - they want to participate. The sales process is also critical and whilst the online proposition can be an asset in terms of booking more simple arrangements, clients looking for luxury experiential travel require a deep level of sophisticated knowledge and confidence during the sales process.
Growing inclination of people towards unique and exotic holiday experiences, rise in middle and upper middle class spending and the increasing impact of social media on travel industry are the key factors that drive the market growth. Emerging new destinations coupled with rising service standards in the travel industry, is anticipated to further drive the demand for luxury travel, globally.
The Small Group Journey segment accounted for about 44% of the overall luxury travel market revenue, by tour type in 2015, as this is identified as the most popular vacation option among young and middle age group travelers. In addition, Customized and Private Vacation aimed at culinary and shopping, would witness the fastest growth, registering a CAGR of 9.1% during the forecast period. An increasing number of luxury travelers are indulging in these tours as they enable these travelers to experience the finest local delicacies and also buy some of the most exquisite handicrafts. These trips are getting popular among travelers of all age groups, especially the millennials (21 - 30 years). In 2015, approximately 45% of millennials took a trip based on culinary interest.
According to this study, over the next five years the Luxury Travel market will register a 8.5% CAGR in terms of revenue, the global market size will reach US$ 8460 million by 2024, from US$ 5200 million in 2019. In particular, this report presents the global revenue market share of key companies in Luxury Travel business.
This report presents a comprehensive overview, market shares and growth opportunities of Luxury Travel market by product type, application, key companies and key regions.
The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market.
The key manufacturers covered in this report: TUI Group, Thomas Cook Group, Jet2 Holidays, Cox & Kings Ltd, Lindblad Expeditions, Travcoa, Scott Dunn, Abercrombie & Kent Ltd, Micato Safaris, Tauck, Al Tayyar, Backroads, Zicasso, Exodus Travels, Butterfield & Robinson
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key players and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
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Segmentation by product type:
Customized and Private Vacation
Adventure and Safari
Small Group Journey
Celebration and Special Event
Others
Segmentation by application:
Millennial
Generation X
Baby Boomers
Research objectives
To study and analyze the global Luxury Travel market size by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.
To understand the structure of Luxury Travel market by identifying its various subsegments.
Focuses on the key global Luxury Travel players, to define, describe and analyze the value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Luxury Travel with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
To project the size of Luxury Travel submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.
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Table of Contents 2019-2024 Global Luxury Travel Market Report (Status and Outlook)
1 Scope of the Report
2 Executive Summary
3 Global Luxury Travel by Players
4 Luxury Travel by Regions
5 Americas
6 APAC
7 Europe
8 Middle East & Africa
9 Market Drivers, Challenges and Trends
10 Global Luxury Travel Market Forecast
11 Key Players Analysis
11.1 TUI Group
11.1.1 Company Details
11.1.2 Luxury Travel Product Offered
11.1.3 TUI Group Luxury Travel Revenue, Gross Margin and Market Share (2017-2019)
11.1.4 Main Business Overview
11.1.5 TUI Group News
11.2 Thomas Cook Group
11.2.1 Company Details
11.2.2 Luxury Travel Product Offered
11.2.3 Thomas Cook Group Luxury Travel Revenue, Gross Margin and Market Share (2017-2019)
11.2.4 Main Business Overview
11.2.5 Thomas Cook Group News
11.3 Jet2 Holidays
11.3.1 Company Details
11.3.2 Luxury Travel Product Offered
11.3.3 Jet2 Holidays Luxury Travel Revenue, Gross Margin and Market Share (2017-2019)
11.3.4 Main Business Overview
11.3.5 Jet2 Holidays News
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Rajat Sahni
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Source: EmailWire.Com
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