Summary

The luxury travel market was valued at $890,839.10 million in 2023 and is estimated to reach $2,149,683.40 million by 2035, exhibiting a CAGR of 7.4% from 2024 to 2035. 
Luxury travel is a high-end tour experience characterized by remarkable services, individualized attention, and exquisite accommodations for customers. This form of travel prioritizes the comfort and relaxation of travelers. The key attributes of luxury travel include staying at lavish accommodations with curated itineraries and customized services such as guides, chauffeur-driven vehicles, & catering to last-minute requests.  
Exponential increase in the affluent population and rise in disposable income of middle-class families are the key drivers of the luxury travel market. In addition, surge in the popularity of experiential travel and personalized experiences has propelled the development of the market notably. In recent times, the trend of combining luxury travel with wellness experiences has gained significant traction. Several individuals now seek opportunities to escape stress and soothe their souls during traveling; therefore, several property owners are striving to offer wellness programs and spiritual getaways to their customers.  
However, increase in the popularity of backpacking & solo traveling due to their affordability and regional experiences is presenting notable challenges to the luxury travel market. Moreover, geopolitical instability such as trade wars and regional conflicts make affluent travelers hesitant to spend expensive trips, thereby restraining the development of the market. On the contrary, rise in demand for local cultural experiences and participation in regional traditions is expected to open new avenues for the luxury travel market. For instance, Arival—an in-destination experiences providing firm—stated in one of its articles that private and cultural tours have experienced 200% year-on-year growth in 2023. This offers a remunerative opportunity to stakeholders to differentiate offerings and garner premium pricing through personalized, culturally rich itineraries. 
Segment Review 
The luxury travel market is segmented into type of tour, age group, type of traveler, and region. By type of tour, the market is divided into customized & private vacations, adventure & safari, cruise/ship expedition, small group journey, celebration & special event, and culinary travel & shopping. Depending on age group, it is classified into millennial, generation X, baby boomers, and silver hair. According to type of traveler, it is categorized into absolute luxury, aspiring luxury, and accessible luxury. Region wise, it is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, Spain, Italy, and rest of Europe), Asia-Pacific (China, Singapore, India, and rest of Asia-Pacific), and LAMEA (Middle East, Latin America, and Africa). 
Key Findings 
By type of tour, the adventure & safari segment held the highest market share in 2023. 
Depending on age group, the generation X segment dominated the market in 2023. 
According to type of traveler, the aspiring luxury segment acquired a notable stake in the market in 2023. 
Region wise, Europe was the highest revenue generator in 2023. 
Competition Analysis 
The key players in the luxury travel market include Abercrombie & Kent Ltd., Cox and Kings Ltd., TUI Group, Micato Safaris, Ker and Downey, Tauck, Thomas Cook Group, Scott Dunn Ltd., Kensington Tours, and Butterfield & Robinson Inc.  These major players have adopted various key development strategies such as acquisition, agreement, partnership, product launch, and expansion to strengthen their foothold in the competitive market. 
Key Benefits For Stakeholders
●This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the luxury travel market analysis from 2023 to 2035 to identify the prevailing luxury travel market opportunities.
●The market research is offered along with information related to key drivers, restraints, and opportunities.
●Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
●In-depth analysis of the luxury travel market segmentation assists to determine the prevailing market opportunities.
●Major countries in each region are mapped according to their revenue contribution to the global market.
●Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
●The report includes the analysis of the regional as well as global luxury travel market trends, key players, market segments, application areas, and market growth strategies.

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● Additional company profiles with specific to client's interest
● Additional country or region analysis- market size and forecast
● Average Selling Price Analysis / Price Point Analysis
● Brands Share Analysis
● Criss-cross segment analysis- market size and forecast
● Expanded list for Company Profiles
● Historic market data
● Import Export Analysis/Data
● Key player details (including location, contact details, supplier/vendor network etc. in excel format)
● List of customers/consumers/raw material suppliers- value chain analysis
● Market share analysis of players at global/region/country level
● Per Capita Consumption Trends
● Product Consumption Analysis
● Reimbursement Scenario
● SWOT Analysis
● Volume Market Size and Forecast
Key Market Segments
By Types of Tour
● Small group journey
● Celebration and special events
● Culinary travel and shopping
● Customized and private vacations
● Adventure and safari
● Cruise/ship expedition
By Age Group
● Millennial
● Generation X
● Baby Boomer
● Silver hair
By Types of Traveler
● Absolute luxury
● Aspiring luxury
● Accessible luxury
By Region
● North America
○ U.S.
○ Canada
○ Mexico
● Europe
○ Germany
○ France
○ Spain
○ Italy
○ Rest of Europe
● Asia-Pacific
○ China
○ India
○ Singapore
○ Rest of Asia-Pacific
● LAMEA
○ Middle East
○ Latin America
○ Africa
● Key Market Players
○ Micato Safaris
○ Thomas Cook India Ltd.
○ Zicasso, Inc.
○ Kensington Tours Ltd.
○ Scott Dunn Ltd.
○ Tauck, Inc.
○ TUI GROUP
○ Abercrombie & Kent USA, LLC
○ Travelopia Holdings Limited
○ Butterfield & Robinson Inc.

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Table of Contents

CHAPTER 1: INTRODUCTION
1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research methodology
1.4.1. Primary research
1.4.2. Secondary research
1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. CXO perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top impacting factors
3.2.2. Top investment pockets
3.3. Porter’s five forces analysis
3.3.1. Moderate bargaining power of suppliers
3.3.2. Moderate threat of new entrants
3.3.3. Moderate threat of substitutes
3.3.4. Moderate intensity of rivalry
3.3.5. Moderate bargaining power of buyers
3.4. Market dynamics
3.4.1. Drivers
3.4.1.1. Growth in inclination of people towards unique and exotic holiday experiences
3.4.1.2. Growth in middle and upper middle class spending
3.4.1.3. Growth in trend of online bookings
3.4.1.4. The rise of social media and its impact on travel industry
3.4.2. Restraints
3.4.2.1. Varying socio-economic conditions
3.4.2.2. Economic instability
3.4.3. Opportunities
3.4.3.1. Rise in Digital Transformation and Virtual Luxury Travel
CHAPTER 4: LUXURY TRAVEL MARKET, BY TYPES OF TOUR
4.1. Overview
4.1.1. Market size and forecast
4.2. Customized and private vacations
4.2.1. Key market trends, growth factors and opportunities
4.2.2. Market size and forecast, by region
4.2.3. Market share analysis by country
4.3. Adventure and safari
4.3.1. Key market trends, growth factors and opportunities
4.3.2. Market size and forecast, by region
4.3.3. Market share analysis by country
4.4. Cruise/ship expedition
4.4.1. Key market trends, growth factors and opportunities
4.4.2. Market size and forecast, by region
4.4.3. Market share analysis by country
4.5. Small group journey
4.5.1. Key market trends, growth factors and opportunities
4.5.2. Market size and forecast, by region
4.5.3. Market share analysis by country
4.6. Celebration and special events
4.6.1. Key market trends, growth factors and opportunities
4.6.2. Market size and forecast, by region
4.6.3. Market share analysis by country
4.7. Culinary travel and shopping
4.7.1. Key market trends, growth factors and opportunities
4.7.2. Market size and forecast, by region
4.7.3. Market share analysis by country
CHAPTER 5: LUXURY TRAVEL MARKET, BY AGE GROUP
5.1. Overview
5.1.1. Market size and forecast
5.2. Millennial
5.2.1. Key market trends, growth factors and opportunities
5.2.2. Market size and forecast, by region
5.2.3. Market share analysis by country
5.3. Generation X
5.3.1. Key market trends, growth factors and opportunities
5.3.2. Market size and forecast, by region
5.3.3. Market share analysis by country
5.4. Baby Boomer
5.4.1. Key market trends, growth factors and opportunities
5.4.2. Market size and forecast, by region
5.4.3. Market share analysis by country
5.5. Silver hair
5.5.1. Key market trends, growth factors and opportunities
5.5.2. Market size and forecast, by region
5.5.3. Market share analysis by country
CHAPTER 6: LUXURY TRAVEL MARKET, BY TYPES OF TRAVELER
6.1. Overview
6.1.1. Market size and forecast
6.2. Absolute luxury
6.2.1. Key market trends, growth factors and opportunities
6.2.2. Market size and forecast, by region
6.2.3. Market share analysis by country
6.3. Aspiring luxury
6.3.1. Key market trends, growth factors and opportunities
6.3.2. Market size and forecast, by region
6.3.3. Market share analysis by country
6.4. Accessible luxury
6.4.1. Key market trends, growth factors and opportunities
6.4.2. Market size and forecast, by region
6.4.3. Market share analysis by country
CHAPTER 7: LUXURY TRAVEL MARKET, BY REGION
7.1. Overview
7.1.1. Market size and forecast By Region
7.2. North America
7.2.1. Key market trends, growth factors and opportunities
7.2.2. Market size and forecast, by Types of Tour
7.2.3. Market size and forecast, by Age Group
7.2.4. Market size and forecast, by Types of Traveler
7.2.5. Market size and forecast, by country
7.2.5.1. U.S.
7.2.5.1.1. Market size and forecast, by Types of Tour
7.2.5.1.2. Market size and forecast, by Age Group
7.2.5.1.3. Market size and forecast, by Types of Traveler
7.2.5.2. Canada
7.2.5.2.1. Market size and forecast, by Types of Tour
7.2.5.2.2. Market size and forecast, by Age Group
7.2.5.2.3. Market size and forecast, by Types of Traveler
7.2.5.3. Mexico
7.2.5.3.1. Market size and forecast, by Types of Tour
7.2.5.3.2. Market size and forecast, by Age Group
7.2.5.3.3. Market size and forecast, by Types of Traveler
7.3. Europe
7.3.1. Key market trends, growth factors and opportunities
7.3.2. Market size and forecast, by Types of Tour
7.3.3. Market size and forecast, by Age Group
7.3.4. Market size and forecast, by Types of Traveler
7.3.5. Market size and forecast, by country
7.3.5.1. Germany
7.3.5.1.1. Market size and forecast, by Types of Tour
7.3.5.1.2. Market size and forecast, by Age Group
7.3.5.1.3. Market size and forecast, by Types of Traveler
7.3.5.2. France
7.3.5.2.1. Market size and forecast, by Types of Tour
7.3.5.2.2. Market size and forecast, by Age Group
7.3.5.2.3. Market size and forecast, by Types of Traveler
7.3.5.3. Spain
7.3.5.3.1. Market size and forecast, by Types of Tour
7.3.5.3.2. Market size and forecast, by Age Group
7.3.5.3.3. Market size and forecast, by Types of Traveler
7.3.5.4. Italy
7.3.5.4.1. Market size and forecast, by Types of Tour
7.3.5.4.2. Market size and forecast, by Age Group
7.3.5.4.3. Market size and forecast, by Types of Traveler
7.3.5.5. Rest of Europe
7.3.5.5.1. Market size and forecast, by Types of Tour
7.3.5.5.2. Market size and forecast, by Age Group
7.3.5.5.3. Market size and forecast, by Types of Traveler
7.4. Asia-Pacific
7.4.1. Key market trends, growth factors and opportunities
7.4.2. Market size and forecast, by Types of Tour
7.4.3. Market size and forecast, by Age Group
7.4.4. Market size and forecast, by Types of Traveler
7.4.5. Market size and forecast, by country
7.4.5.1. China
7.4.5.1.1. Market size and forecast, by Types of Tour
7.4.5.1.2. Market size and forecast, by Age Group
7.4.5.1.3. Market size and forecast, by Types of Traveler
7.4.5.2. India
7.4.5.2.1. Market size and forecast, by Types of Tour
7.4.5.2.2. Market size and forecast, by Age Group
7.4.5.2.3. Market size and forecast, by Types of Traveler
7.4.5.3. Singapore
7.4.5.3.1. Market size and forecast, by Types of Tour
7.4.5.3.2. Market size and forecast, by Age Group
7.4.5.3.3. Market size and forecast, by Types of Traveler
7.4.5.4. Rest of Asia-Pacific
7.4.5.4.1. Market size and forecast, by Types of Tour
7.4.5.4.2. Market size and forecast, by Age Group
7.4.5.4.3. Market size and forecast, by Types of Traveler
7.5. LAMEA
7.5.1. Key market trends, growth factors and opportunities
7.5.2. Market size and forecast, by Types of Tour
7.5.3. Market size and forecast, by Age Group
7.5.4. Market size and forecast, by Types of Traveler
7.5.5. Market size and forecast, by country
7.5.5.1. Middle East
7.5.5.1.1. Market size and forecast, by Types of Tour
7.5.5.1.2. Market size and forecast, by Age Group
7.5.5.1.3. Market size and forecast, by Types of Traveler
7.5.5.2. Latin America
7.5.5.2.1. Market size and forecast, by Types of Tour
7.5.5.2.2. Market size and forecast, by Age Group
7.5.5.2.3. Market size and forecast, by Types of Traveler
7.5.5.3. Africa
7.5.5.3.1. Market size and forecast, by Types of Tour
7.5.5.3.2. Market size and forecast, by Age Group
7.5.5.3.3. Market size and forecast, by Types of Traveler
CHAPTER 8: COMPETITIVE LANDSCAPE
8.1. Introduction
8.2. Top winning strategies
8.3. Product mapping of top 10 player
8.4. Competitive dashboard
8.5. Competitive heatmap
8.6. Top player positioning, 2023
CHAPTER 9: COMPANY PROFILES
9.1. TUI GROUP
9.1.1. Company overview
9.1.2. Key executives
9.1.3. Company snapshot
9.1.4. Operating business segments
9.1.5. Product portfolio
9.1.6. Business performance
9.2. Zicasso, Inc.
9.2.1. Company overview
9.2.2. Key executives
9.2.3. Company snapshot
9.2.4. Operating business segments
9.2.5. Product portfolio
9.3. Thomas Cook India Ltd.
9.3.1. Company overview
9.3.2. Key executives
9.3.3. Company snapshot
9.3.4. Operating business segments
9.3.5. Product portfolio
9.3.6. Business performance
9.3.7. Key strategic moves and developments
9.4. Scott Dunn Ltd.
9.4.1. Company overview
9.4.2. Key executives
9.4.3. Company snapshot
9.4.4. Operating business segments
9.4.5. Product portfolio
9.5. Micato Safaris
9.5.1. Company overview
9.5.2. Key executives
9.5.3. Company snapshot
9.5.4. Operating business segments
9.5.5. Product portfolio
9.6. Kensington Tours Ltd.
9.6.1. Company overview
9.6.2. Key executives
9.6.3. Company snapshot
9.6.4. Operating business segments
9.6.5. Product portfolio
9.6.6. Key strategic moves and developments
9.7. Butterfield & Robinson Inc.
9.7.1. Company overview
9.7.2. Key executives
9.7.3. Company snapshot
9.7.4. Operating business segments
9.7.5. Product portfolio
9.7.6. Key strategic moves and developments
9.8. Tauck, Inc.
9.8.1. Company overview
9.8.2. Key executives
9.8.3. Company snapshot
9.8.4. Operating business segments
9.8.5. Product portfolio
9.8.6. Key strategic moves and developments
9.9. Travelopia Holdings Limited
9.9.1. Company overview
9.9.2. Key executives
9.9.3. Company snapshot
9.9.4. Operating business segments
9.9.5. Product portfolio
9.9.6. Key strategic moves and developments
9.10. Abercrombie & Kent USA, LLC
9.10.1. Company overview
9.10.2. Key executives
9.10.3. Company snapshot
9.10.4. Operating business segments
9.10.5. Product portfolio
9.10.6. Key strategic moves and developments