Luxury Travel Market Size, Share & Trends Analysis Report By Age Group (Millennial, Baby Boomers), By Tour (Safari & Adventure, Culinary Travel & Shopping), By Region, And Segment Forecasts, 2019 - 2025

Published: Jun, 2019 | Pages: 80 | Publisher: Grand View Research
Industry: Consumer Goods | Report Format: Electronic (PDF)

The global luxury travel market size is expected to reach USD 2.5 trillion by 2025, expanding at a CAGR of 4.6% over the forecast period, according to a new report by Grand View Research, Inc. Increasing disposable income and consumer spending of middle and upper class, growing demand for accumulation of travel memories, increase in micro trips, and emerging tourism and corporate industries all across the globe are expected to drive the market.

Growing traveler's preference for personalized service, reliable transport, exclusivity, and positive and professional interaction with staff is setting the primary benchmark for luxury travel. Growing political stability across the globe regarding gender, ethnicity, sexual orientation, human rights, racism, citizenship, and less hustle in visa offering are influencing the people's decision over potential travel destination. Long haul travelers are seeking to create their own unique holiday and are demanding flexible itineraries for a combination of entertaining and relaxing travel. This personalization demand of the travelers is making their journey more convenient and full of experience.

Elite travelers are preferring to visit the unexplored destinations to gain experience and understand the new cultures worldwide. Moreover, they are planning unique trips that include cultural visit, cruising, and adventure activities putting experience over ownership. Travelers now care for access over acquisition and experience over possession, thereby contributing to the growth of the market. Micro trips have emerged as a new trend in the industry, which, in turn, is expected to boost the market growth in the forecast period. Travelers are squeezing in more travel itineraries into shorter time frames. To stay and spend quality time during short getaways in unique and remarkable type of accommodation is expected to become trendy in the forecast period

By tour type, the market is divided as customized and private vacations, safari and adventure, cruises, yachting, and small ship expeditions, celebration journeys, culinary travel and shopping, and others. Safari and adventure accounted for the largest share of 35.3% in the year 2018 as luxury travelers are seeking more depth to understand local culture, sense of adventure, and less crowded environment. Personalized vacation aimed at safari and adventure is getting popular among all age groups, thereby surging the segment growth.

On the basis of age group, the luxury travel market has been segmented into millennial, generation x, baby boomers, and silver hair. Millennial is the fastest growing segment with a CAGR of 5.4%. Millennials have a mindset for luxury and its meaningful consumption over owing stuff. They tend to be more independent in their religious and political views, more entrepreneurial, less likely to be married, distrustful of authority, better educated, and more travel oriented than any other generation. Millennials are shifting their focus from traditional pampering to a wider range of compelling experiences.

North America was the largest regional market in the year 2018 and this trend is expected to continue over the forecast period. In 2018, U.S. was the largest shareholder of this market with a share of 85.5% in North America as it is a global financial hub as well as one of the most popular tourist destinations for people across the world. Increase in shorter trip over long haul trips is expected to fuel the market growth over the forecast period.

Further key findings from the study suggest:

• By tour, the safari and adventure segment is projected to ascend at a CAGR of 4.3% over the forecast period in luxury travel market

• By age group, baby boomers held an overall revenue share of over 40.0% in 2018

• U.S., U.K., Germany, China, India, Brazil, and South Africa are the major countries with the largest market in their respective regions.

 Table of Contents

Chapter 1. Methodology and Scope
                    1.1. Market Segmentation & Scope
                    1.2. Market Definition
                    1.3. Information Procurement
                        1.3.1. Purchased Database
                        1.3.2. GVR's Internal Database
                        1.3.3. Secondary Sources & Third-Party Perspectives
                        1.3.4. Primary Research
                    1.4. Information Analysis 
                        1.4.1. Data Analysis Models
                    1.5. Market Formulation & Data Visualization
                    1.6. Data Validation & Publishing
Chapter 2. Executive Summary
                    2.1. Market Outlook
                    2.2. Segmental Outlook
                    2.3. Competitive Insights
Chapter 3. Luxury Travel Market Variables, Trends & Scope
                    3.1. Market Introduction
                    3.2. Penetration & Growth Prospect Mapping
                    3.3. Industry Value Chain Analysis
                        3.3.1. Sales/Retail Channel Analysis
                        3.3.2. Profit Margin Analysis
                    3.4. Market Dynamics
                        3.4.1. Market Driver Analysis
                        3.4.2. Market Restraint Analysis
                        3.4.3. Industry Challenges
                        3.4.4. Industry Opportunities
                    3.5. Business Environment Analysis
                        3.5.1. Industry Analysis - Porter's
                            3.5.1.1. Supplier Power
                            3.5.1.2. Buyer Power
                            3.5.1.3. Substitution Threat
                            3.5.1.4. Threat from New Entrant 
                            3.5.1.5. Competitive Rivalry
                    3.6. Roadmap of Luxury Travel Market
                    3.7. Market Entry Strategies
Chapter 4. Consumer Behavior Analysis
                    4.1. Consumer Trends and Preferences
                    4.2. Factors Affecting Buying Decision 
                    4.3. Consumer Product Adoption 
                    4.4. Observations & Recommendations
Chapter 5. Luxury Travel Market: Tour Estimates & Trend Analysis
                    5.1. Tour Movement Analysis & Market Share, 2018 & 2025
                    5.2. Customized & Private Vacations
                        5.2.1. Market estimates and forecast, 2015 - 2025 (USD Billion)
                    5.3. Safari & Adventure
                        5.3.1. Market estimates and forecast, 2015 - 2025 (USD Billion)
                    5.4. Cruises, yachting and small ship expeditions
                        5.4.1. Market estimates and forecast, 2015 - 2025 (USD Billion)
                    5.5. Celebration Journeys
                        5.5.1. Market estimates and forecast, 2015 - 2025 (USD Billion)
                    5.6. Culinary Travel & Shopping
                        5.6.1. Market estimates and forecast, 2015 - 2025 (USD Billion)
                    5.7. Others
                        5.7.1. Market estimates and forecast, 2015 - 2025 (USD Billion)
Chapter 6. Luxury Travel Market: Age Group Estimates & Trend Analysis
                    6.1. Age Group Movement Analysis & Market Share, 2018 & 2025
                    6.2. Millennial
                        6.2.1. Market estimates and forecast, 2015 - 2025 (USD Billion)
                    6.3. Generation X
                        6.3.1. Market estimates and forecast, 2015 - 2025 (USD Billion)
                    6.4. Baby Boomers
                        6.4.1. Market estimates and forecast, 2015 - 2025 (USD Billion)
                    6.5. Silver Hair
                        6.5.1. Market estimates and forecast, 2015 - 2025 (USD Billion)
Chapter 7. Luxury Travel Market: Regional Estimates & Trend Analysis
                    7.1. Regional Movement Analysis & Market Share, 2018 & 2025
                    7.2. North America
                        7.2.1. Market estimates and forecast, 2015 - 2025 (USD Billion)
                        7.2.2. Market estimates and forecast, by Tour, 2015 - 2025 (USD Billion)
                        7.2.3. Market estimates and forecast, by Age Group, 2015 - 2025 (USD Billion)
                        7.2.4. U.S.
                            7.2.4.1. Market estimates and forecast, 2015 - 2025 (USD Billion)
                            7.2.4.2. Market estimates and forecast, by Tour, 2015 - 2025 (USD Billion)
                            7.2.4.3. Market estimates and forecast, by Age Group, 2015 - 2025 (USD Billion)
                    7.3. Europe
                        7.3.1. Market estimates and forecast, 2015 - 2025 (USD Billion)
                        7.3.2. Market estimates and forecast, by Tour, 2015 - 2025 (USD Billion)
                        7.3.3. Market estimates and forecast, by Age Group, 2015 - 2025 (USD Billion)
                        7.3.4. U.K.
                            7.3.4.1. Market estimates and forecast, 2015 - 2025 (USD Billion)
                            7.3.4.2. Market estimates and forecast, by Tour, 2015 - 2025 (USD Billion)
                            7.3.4.3. Market estimates and forecast, by Age Group, 2015 - 2025 (USD Billion)
                        7.3.5. Germany
                            7.3.5.1. Market estimates and forecast, 2015 - 2025 (USD Billion)
                            7.3.5.2. Market estimates and forecast, by Tour, 2015 - 2025 (USD Billion)
                            7.3.5.3. Market estimates and forecast, by Age Group, 2015 - 2025 (USD Billion)
                    7.4. Asia Pacific
                        7.4.1. Market estimates and forecast, 2015 - 2025 (USD Billion)
                        7.4.2. Market estimates and forecast, by Tour, 2015 - 2025 (USD Billion)
                        7.4.3. Market estimates and forecast, by Age Group, 2015 - 2025 (USD Billion)
                        7.4.4. India
                            7.4.4.1. Market estimates and forecast, 2015 - 2025 (USD Billion)
                            7.4.4.2. Market estimates and forecast, by Tour, 2015 - 2025 (USD Billion)
                            7.4.4.3. Market estimates and forecast, by Age Group, 2015 - 2025 (USD Billion)
                        7.4.5. China
                            7.4.5.1. Market estimates and forecast, 2015 - 2025 (USD Billion)
                            7.4.5.2. Market estimates and forecast, by Tour, 2015 - 2025 (USD Billion)
                            7.4.5.3. Market estimates and forecast, by Age Group, 2015 - 2025 (USD Billion)
                    7.5. Central & South America
                        7.5.1. Market estimates and forecast, 2015 - 2025 (USD Billion)
                        7.5.2. Market estimates and forecast, by Tour, 2015 - 2025 (USD Billion)
                        7.5.3. Market estimates and forecast, by Age Group, 2015 - 2025 (USD Billion)
                        7.5.4. Brazil
                            7.5.4.1. Market estimates and forecast, 2015 - 2025 (USD Billion)
                            7.5.4.2. Market estimates and forecast, by Tour, 2015 - 2025 (USD Billion)
                            7.5.4.3. Market estimates and forecast, by Age Group, 2015 - 2025 (USD Billion)
                    7.6. Middle East & Africa (MEA)
                        7.6.1. Market estimates and forecast, 2015 - 2025 (USD Billion)
                        7.6.2. Market estimates and forecast, by Tour, 2015 - 2025 (USD Billion)
                        7.6.3. Market estimates and forecast, by Age Group, 2015 - 2025 (USD Billion)
                        7.6.4. South Africa
                            7.6.4.1. Market estimates and forecast, 2015 - 2025 (USD Billion)
                            7.6.4.2. Market estimates and forecast, by Tour, 2015 - 2025 (USD Billion)
                            7.6.4.3. Market estimates and forecast, by Age Group, 2015 - 2025 (USD Billion)
Chapter 8. Competitive Analysis
                    8.1. Key global players, recent developments & their impact on the industry
                    8.2. Key Company/Competition Categorization (Key innovators, Market leaders, Emerging players)
                    8.3. Vendor Landscape
                        8.3.1. Key company market share analysis, 2018 
Chapter 9. Company Profiles
                    9.1. TÜ Elite
                        9.1.1. Company Overview
                        9.1.2. Financial Performance
                        9.1.3. Product Benchmarking
                        9.1.4. Strategic Initiatives
                    9.2. TCS World Travel
                        9.2.1. Company Overview
                        9.2.2. Financial Performance
                        9.2.3. Product Benchmarking
                        9.2.4. Strategic Initiatives
                    9.3. Abercrombie & Kent USA
                        9.3.1. Company Overview
                        9.3.2. Financial Performance
                        9.3.3. Product Benchmarking
                        9.3.4. Strategic Initiatives
                    9.4. TUI Group
                        9.4.1. Company Overview
                        9.4.2. Financial Performance
                        9.4.3. Product Benchmarking
                        9.4.4. Strategic Initiatives
                    9.5. Micato Safaris
                        9.5.1. Company Overview
                        9.5.2. Financial Performance
                        9.5.3. Product Benchmarking
                        9.5.4. Strategic Initiatives
                    9.6. Butterfield & Robinson Inc.
                        9.6.1. Company Overview
                        9.6.2. Financial Performance
                        9.6.3. Product Benchmarking
                        9.6.4. Strategic Initiatives
                    9.7. Scott Dunn Ltd.
                        9.7.1. Company Overview
                        9.7.2. Financial Performance
                        9.7.3. Product Benchmarking
                        9.7.4. Strategic Initiatives
                    9.8. Cox & Kings Ltd.
                        9.8.1. Company Overview
                        9.8.2. Financial Performance
                        9.8.3. Product Benchmarking
                        9.8.4. Strategic Initiatives
                    9.9. Exodus travels
                        9.9.1. Company Overview
                        9.9.2. Financial Performance
                        9.9.3. Product Benchmarking
                        9.9.4. Strategic Initiatives
                    9.10. Lindblad Expeditions
                        9.10.1. Company Overview
                        9.10.2. Financial Performance
                        9.10.3. Product Benchmarking
                        9.10.4. Strategic Initiatives

List of Tables

TABLE 1 Luxury Travel - Market driver analysis
TABLE 2 Luxury Travel - Market restraint analysis
TABLE 3 Luxury Travel estimates and forecasts in Tour, 2015 - 2025 (USD Billion)
TABLE 4 Luxury Travel estimates and forecasts in Age Group, 2015 - 2025 (USD Billion)
TABLE 5 Luxury Travel estimates and forecasts in region, 2015 - 2025 (USD Billion)
TABLE 6 North America Luxury Travel estimates and forecasts, 2015 - 2025 (USD Billion)
TABLE 7 North America Luxury Travel revenue, by Tour, 2015 - 2025 (USD Billion)
TABLE 8 North America Luxury Travel revenue, by Age Group, 2015 - 2025 (USD Billion)
TABLE 9 U.S. Luxury Travel estimates and forecasts, 2015 - 2025 (USD Billion)
TABLE 10 U.S. Luxury Travel revenue, by Tour, 2015 - 2025 (USD Billion)
TABLE 11 U.S. Luxury Travel revenue, by Age Group, 2015 - 2025 (USD Billion)
TABLE 12 Europe Luxury Travel estimates and forecasts, 2015 - 2025 (USD Billion)
TABLE 13 Europe Luxury Travel revenue, by Tour, 2015 - 2025 (USD Billion)
TABLE 14 Europe Luxury Travel revenue, by Age Group, 2015 - 2025 (USD Billion)
TABLE 15 U.K. Luxury Travel estimates and forecasts, 2015 - 2025 (USD Billion)
TABLE 16 U.K. Luxury Travel revenue, by Tour, 2015 - 2025 (USD Billion)
TABLE 17 U.K.Luxury Travel revenue, by Age Group, 2015 - 2025 (USD Billion)
TABLE 18 Germany Luxury Travel estimates and forecasts, 2015 - 2025 (USD Billion)
TABLE 19 Germany Luxury Travel revenue, by Tour, 2015 - 2025 (USD Billion)
TABLE 20 Germany Luxury Travel revenue, by Age Group, 2015 - 2025 (USD Billion)
TABLE 21 Asia Pacific Luxury Travel estimates and forecasts, 2015- 2025 (USD Billion)
TABLE 22 Asia Pacific Luxury Travel volume, by Tour, 2015- 2025 (USD Billion)
TABLE 23 Asia Pacific Luxury Travel revenue, by Age Group, 2015- 2025 (USD Billion)
TABLE 24 India Luxury Travel estimates and forecasts, 2015 - 2025 (USD Billion)
TABLE 25 India Luxury Travel revenue, by Tour, 2015 - 2025 (USD Billion)
TABLE 26 India Luxury Travel revenue, by Age Group, 2015 - 2025 (USD Billion)
TABLE 27 China Luxury Travel estimates and forecasts, 2015 - 2025 (USD Billion)
TABLE 28 China Luxury Travel revenue, by Tour, 2015 - 2025 (USD Billion)
TABLE 29 China Luxury Travel revenue, by Age Group, 2015 - 2025 (USD Billion)
TABLE 30 Central & South America Luxury Travel estimates and forecasts, 2015 - 2025 (USD Billion)
TABLE 31 Central & South America Luxury Travel revenue, by Tour, 2015 - 2025 (USD Billion)
TABLE 32 Central & South America Luxury Travel revenue, by Age Group, 2015 - 2025 (USD Billion)
TABLE 33 Brazil Luxury Travel estimates and forecasts, 2015 - 2025 (USD Billion)
TABLE 34 Brazil Luxury Travel revenue, by Tour, 2015 - 2025 (USD Billion)
TABLE 35 Brazil Luxury Travel revenue, by Age Group, 2015 - 2025 (USD Billion)
TABLE 36 Middle East & Africa Luxury Travel estimates and forecasts, 2015 - 2025 (USD Billion)
TABLE 37 Middle East & Africa Luxury Travel revenue, by Tour, 2015 - 2025 (USD Billion)
TABLE 38 Middle East & Africa Luxury Travel revenue, by Age Group, 2015 - 2025 (USD Billion)
TABLE 39 South Africa Luxury Travel estimates and forecasts, 2015 - 2025 (USD Billion)
TABLE 40 South Africa Luxury Travel revenue, by Tour, 2015 - 2025 (USD Billion)
TABLE 41 South Africa Luxury Travel revenue, by Age Group, 2015 - 2025 (USD Billion)

List of Figures

FIG. 1 Luxury Travel Market segmentation & scope
FIG. 2 Luxury Travel market key opportunities prioritized
FIG. 3 Value chain analysis Luxury Travel
FIG. 4 Luxury Travel market dynamics
FIG. 5 Luxury Travel market Porter's analysis
FIG. 6 Luxury Travel: Tour movement analysis
FIG. 7 Luxury Travel: Age group movement analysis
FIG. 8 Luxury Travel: Regional movement analysis 
FIG. 9 Strategy framework