Luxury Travel Market – 30% of Growth to Originate from Europe| Increasing Disposable Incomes to Boost Market

Amy Stewart

Key Market Dynamics: Drivers & Challenges

  • Market Driver – The key factor driving growth in the luxury travel market is the increasing disposable income. Factors such as the rise in dual household income, per capita income, and rapid growth in the employment rate have driven the increase in disposable incomes worldwide. The growth in disposable income is expected to increase the spending and purchasing power of consumers. The boom in the tourism industry has also encouraged consumers to spend on travel and leisure activities with exotic holiday experiences. Therefore, the increasing disposable income boosts the demand for luxurious travel to different destinations across the world, which, in turn, is fostering the growth of the global luxury travel market.
  • Market Challenges – The inconsistent service quality will be a major challenge for the luxury travel market. The market vendors deal with diverse customers from different geographies. To maximize the degree of customer satisfaction, the vendors must cater to diverse preferences and seasonal demand. In addition, the high degree of diversity and inconsistency in supplier offerings impacts the quality of services offered by the existing market vendors. Thus, inconsistencies in a certain element in the value chain, such as a delay in service delivery or bad customer service, impact other elements as well. Fake advertisements often contribute to increased customer dissatisfaction, especially for luxury travel where the travelers pay a high amount for packages. Poor transportation and hospitality infrastructure in developing countries, especially in traditional and historic places, also pose a significant challenge to the global luxury travel market

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Key Market Dynamics: Segmentation Analysis

The luxury travel market report is segmented by Type (Adventure, Personalized, Cruising and yachting, Culinary, and Others) and Geography (Europe, North America, APAC, MEA, and South America). 

Technavio report provides an accurate prediction of the contribution of all the segments to the growth of the luxury travel market size and actionable market insights on each segment.

View our sample report for additional insights into the contribution of all the segments,
and regional opportunities in the report.

Some Companies Mentioned

The luxury travel market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

    • Abercrombie & Kent USA LLC
    • Absolute Travel Inc.
    • Butterfield & Robinson Inc.
    • Classic Journeys
    • Cox & Kings Ltd.
    • Indigenous Tourism BC
    • Odyssey World
    • Responsible Travel
    • Scott Dunn
    • Travelopia
  • To gain access to more vendor profiles with their key offerings available with
    Technavio, Click Here

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Luxury Travel Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Decelerate at a CAGR of 26%

Market growth 2021-2025

USD 1.23 trillion

Market structure

Fragmented

YoY growth (%)

45.30

Performing market contribution

Europe at 30%

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Abercrombie & Kent USA LLC, Absolute Travel Inc., Butterfield & Robinson Inc., Classic Journeys, Cox & Kings Ltd., Indigenous Tourism BC, Odyssey World, Responsible Travel, Scott Dunn, and Travelopia

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Key Topics Covered:

1. Executive Summary                           

2. Market Landscape                             

                2.1 Market ecosystem             

                                Exhibit 01:  Parent market

                2.2 Market Characteristics      

                                Exhibit 02:  Market Characteristics

                2.3 Value chain analysis           

                                Exhibit 03:  Value chain: Global hotels, restaurants, and leisure market

                                2.3.1 Inputs 

                                2.3.2 Inbound logistics

                                2.3.3 Operations

                                2.3.4 Outbound logistics

                                2.3.5 Marketing and sales 

                                2.3.6 Service 

                                2.2.6    Support activities

                                2.2.7    Innovation

3. Market Sizing                       

                3.1 Market definition

                                Exhibit 04:  Offerings of vendors included in the market definition

                3.2 Market segment analysis 

                                Exhibit 05:  Market segments

                3.3 Market size 2020 

                3.4 Market outlook: Forecast for 2020 – 2025 

                                Exhibit 06:  Global – Market size and forecast 2020 – 2025 ($ billion)

                                Exhibit 07:  Global market: Year-over-year growth 2020 – 2025 (%)

4. Five Forces Analysis                          

                4.1 Five Forces Summary        

                                Exhibit 08: Five forces analysis 2020 & 2025

                4.2 Bargaining power of buyers           

                4.3 Bargaining power of suppliers       

                4.4 Threat of new entrants    

                4.5 Threat of substitutes         

                4.6 Threat of rivalry   

                4.7 Market condition

                                Market condition – Five forces 2020

5. Market Segmentation by type                      

                The segments covered in this chapter are:

  • Adventure
  • Personalized
  • Cruising and yachting
  • Culinary
  • Others

                5.1 Market segments

                                Exhibit 15:  Type – Market share 2020-2025 (%)

                5.2     Comparison by Type      

                                Exhibit 16:  Comparison by Type

                5.3     Adventure – Market size and forecast 2020-2025                

                                Exhibit 17:  Adventure – Market size and forecast 2020-2025 ($ billion)

                                Exhibit 18:  Adventure – Year-over-year growth 2020-2025 (%)

                5.4     Personalized – Market size and forecast 2020-2025            

                                Exhibit 19:  Personalized – Market size and forecast 2020-2025 ($ billion)

                                Exhibit 20:  Personalized – Year-over-year growth 2020-2025 (%)

                5.5     Cruising and yachting – Market size and forecast 2020-2025          

                                Exhibit 21:  Cruising and yachting – Market size and forecast 2020-2025 ($ billion)

                                Exhibit 22:  Cruising and yachting – Year-over-year growth 2020-2025 (%)

                5.6     Culinary – Market size and forecast 2020-2025     

                                Exhibit 23:  Culinary – Market size and forecast 2020-2025 ($ billion)

                                Exhibit 24:  Culinary – Year-over-year growth 2020-2025 (%)

                5.7     Others – Market size and forecast 2020-2025       

                                Exhibit 25:  Others – Market size and forecast 2020-2025 ($ billion)

                                Exhibit 26:  Others – Year-over-year growth 2020-2025 (%)

                5.8     Market opportunity by Type     

                                Exhibit 27:   Market opportunity by Type

6. Market Segmentation by Consumer                          

                The segments covered in this chapter are:

                6.1 Market segments

                                Exhibit 28:  Consumer – Market share 2020-2025 (%)

                6.2     Comparison by Consumer           

                                Exhibit 29:  Comparison by Consumer

                6.3     Domestic – Market size and forecast 2020-2025  

                                Exhibit 30:  Domestic – Market size and forecast 2020-2025 ($ billion)

                                Exhibit 31:  Domestic – Year-over-year growth 2020-2025 (%)

                6.4     International – Market size and forecast 2020-2025           

                                Exhibit 32:  International – Market size and forecast 2020-2025 ($ billion)

                                Exhibit 33:  International – Year-over-year growth 2020-2025 (%)

                6.5 Market opportunity by Consumer

                                Exhibit 34:Market opportunity by Consumer

7. Customer landscape                         

                                Exhibit 31: Customer landscape

8. Geographic Landscape                     

                The regions covered in the report are:

  • Europe
  • North America
  • APAC
  • MEA
  • South America

                8.1 Geographic segmentation

                                Exhibit 36:  Market share by geography 2020-2025 (%)

                8.2 Geographic comparison   

                                Exhibit 37:  Geographic comparison

                8.3     Europe – Market size and forecast 2020-2025       

                                Exhibit 38:  Europe – Market size and forecast 2020-2025 ($ billion)

                                Exhibit 39:  Europe – Year-over-year growth 2020-2025 (%)

                8.4     North America – Market size and forecast 2020-2025        

                                Exhibit 40:  North America – Market size and forecast 2020-2025 ($ billion)

                                Exhibit 41:  North America – Year-over-year growth 2020-2025 (%)

                8.5 APAC – Market size and forecast 2020-2025             

                                Exhibit 42:  APAC – Market size and forecast 2020-2025 ($ billion)

                                Exhibit 43:  APAC – Year-over-year growth 2020-2025 (%)

                8.6     MEA – Market size and forecast 2020-2025           

                                Exhibit 44:  MEA – Market size and forecast 2020-2025 ($ billion)

                                Exhibit 45:  MEA – Year-over-year growth 2020-2025 (%)

                8.7     South America – Market size and forecast 2020-2025        

                                Exhibit 46:  South America – Market size and forecast 2020-2025 ($ billion)

                                Exhibit 47:  South America – Year-over-year growth 2020-2025 (%)

                8.8 Key leading countries        

                                Exhibit 48:  Key leading countries

                8.9 Market opportunity by geography

9. Drivers, Challenges, and Trends                   

                9.1 Market drivers     

                                9.1.1    Increasing disposable incomes

                                9.1.2    Advances in technology

                                9.1.3    Growing digital connectivity

                                9.1.4    Increased preference for luxury travel to break monotony

                9.2 Market challenges              

                                9.2.1    Inconsistent service quality

                                9.2.2    Threat of natural calamities and other issues

                                9.2.3    Travel fatigue

                                Exhibit 50:  Impact of drivers and challenges

                9.3 Market trends      

                                9.3.1    Trending sports tourism

                                9.3.2    Growing demand for multigenerational and micro trips

                                9.3.3    Higher acceptance of online travel agencies

                                9.3.4    Personalization of guest data

10. Vendor Landscape                           

                10.1 Competitive scenario      

                10.2 Vendor landscape            

                                Exhibit 51:  Vendor landscape

                10.3 Landscape disruption      

The potential for the disruption of the market landscape was moderate in 2020, and its threat is expected to remain unchanged by 2025. 

                                Exhibit 52:  Landscape disruption

                10.4 Industry risks      

                                Exhibit 53:  Industry risks

11. Vendor Analysis               

                11.1 Vendors covered              

                                Exhibit 54:  Vendors covered

                11.2 Market positioning of vendors    

                                Exhibit 55:  Market positioning of vendors

                11.3  Abercrombie & Kent USA LLC     

                                Exhibit 56:  Abercrombie & Kent USA LLC – Overview

                                Exhibit 57:  Abercrombie & Kent USA LLC – Product and service

                                Exhibit 58:  Abercrombie & Kent USA LLC – Key news

                                Exhibit 59:  Abercrombie & Kent USA LLC – Key offerings

                11.4  Absolute Travel Inc         

                                Exhibit 60:  Absolute Travel Inc. – Overview

                                Exhibit 61:  Absolute Travel Inc. – Product and service

                                Exhibit 62:  Absolute Travel Inc. – Key offerings

                11.5  Butterfield & Robinson Inc.         

                                Exhibit 63:  Butterfield & Robinson Inc. – Overview

                                Exhibit 64:  Butterfield & Robinson Inc. – Product and service

                                Exhibit 65:  Butterfield & Robinson Inc. – Key offerings

                11.6  Classic Journeys

                                Exhibit 66:  Classic Journeys – Overview

                                Exhibit 67:  Classic Journeys – Product and service

                                Exhibit 68:  Classic Journeys – Key news

                                Exhibit 69:  Classic Journeys – Key offerings

                11.7  Cox & Kings Ltd

                                Exhibit 70:  Cox & Kings Ltd. – Overview

                                Exhibit 71:  Cox & Kings Ltd. – Product and service

                                Exhibit 72:  Cox & Kings Ltd. – Key news

                                Exhibit 73:  Cox & Kings Ltd. – Key offerings

                11.8  Indigenous Tourism BC 

                                Exhibit 74:  Indigenous Tourism BC – Overview

                                Exhibit 75:  Indigenous Tourism BC – Product and service

                                Exhibit 76:  Indigenous Tourism BC – Key news

                                Exhibit 77:  Indigenous Tourism BC – Key offerings

                11.9  Odyssey World 

                                Exhibit 78:  Odyssey World – Overview

                                Exhibit 79:  Odyssey World – Product and service

                                Exhibit 80:  Odyssey World – Key news

                                Exhibit 81:  Odyssey World – Key offerings

                11.10 Responsible Travel        

                                Exhibit 82:  Responsible Travel – Overview

                                Exhibit 83:  Responsible Travel – Product and service

                                Exhibit 84:  Responsible Travel – Key offerings

                11.11 Scott Dunn        

                                Exhibit 85:  Scott Dunn – Overview

                                Exhibit 86:  Scott Dunn – Product and service

                                Exhibit 87:  Scott Dunn – Key offerings

                11.12 Travelopia         

                                Exhibit 88:  Travelopia – Overview

                                Exhibit 89:  Travelopia – Product and service

                                Exhibit 90:  Travelopia – Key news

                                Exhibit 91:  Travelopia – Key offerings

12. Appendix                            

                12.1 Scope of the report         

                                12.1.1 Market definition

                                12.1.2 Objectives

                                12.1.3 Notes and caveats

                12.2 Currency conversion rates for US$            

                                Exhibit 92:  Currency conversion rates for US$

                12.3 Research Methodology 

                                Exhibit 93: Research Methodology

                                Exhibit 94: Validation techniques employed for market sizing

                                Exhibit 95: Information sources

                12.4 List of abbreviations        

                                Exhibit 96: List of abbreviations

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