Turismo
Luxury Travel Market to Reach $1,614.6 Bn, Globally, by 2026 at 7.9% CAGR: Allied Market Research
Rise in inclination toward exotic holiday experiences, surge in middle & upper middle-class spending, trend of online booking, and increase in impact of travel industry drive the growth of the global luxury travel market. However, varying socio-economic situations and impact of natural disasters hinder the market growth. On the other hand, demand for enhanced service standards and emergence of new destinations create lucrative opportunities in the industry.
https://www.alliedmarketresearch.com/request-sample/1662
Based on type, the adventure and safari segment held the largest share in the global luxury travel market in 2018, accounting for more than two-fifths of the total share, and is estimated to maintain its leadership status during the forecast period. This is due to inclination toward transformative and engaged activities. On the other hand, the culinary travel and shopping segment is expected to register the largest growth rate with a CAGR of 9.7% from 2019 to 2026, owing to surge in outbound travel, eagerness for gaining unique dining experiences in various countries, and organization of many festivals and events.
Based on age group, the millennial segment would grow at the largest rate with a CAGR of 9.5% from 2019 to 2026, owing to inclination of millennials toward wanderlust and breaking life's monotony, short trips to culturally rich and different countries, and local shopping. On the other hand, the baby boomer segment accounted for around two-fifths of the total market share of the global luxury travel market in 2018, and is estimated to maintain its highest contribution during the forecast period.
North America is estimated to register the fastest growth rate with a CAGR of 11.4% from 2019 to 2026, owing to increase in the international spending on travel, availability of ranches and spa retreats to private islands, and presence of established and highly exclusive resorts. However, Europe held the major market share, accounting for nearly two-fifths of the total share of the global luxury travel market in 2018, and is expected to maintain its leadership status during the forecast period. This is attributed to preference for customized and private vacation and cruise/ship expedition and surge in number of travelers in countries such as Greece , Spain , and Turkey .
https://www.alliedmarketresearch.com/purchase-enquiry/1662
https://www.alliedmarketresearch.com/knowledgetree
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon . Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA / Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong : +852-301-84916
India ( Pune ): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
: https://www.linkedin.com/company/allied-market-research/
Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg