Product Code: 5038
Luxury Tourism Market will expand considerably during 2023-2032 owing to the expanding trend of tourism. Luxury travel has transformed massively, and people are inclining more towards adventure and the need for experiencing local customs and food, which has potentially pushed the market prospects for luxury tourism over the recent years.
In addition, increasing demand for recreational activities and hefty spending on tourism would further augment the market scope. According to credible reports, in September 2021, 76% of people were ready to spend more on travel and improve their health. In addition, 55% were ready to pay extra for wellness activities on future vacations.
Besides, conglomerates operating in the luxury tourism industry are working persistently to gain a competitive advantage in the overall market. To cite an instance, in June 2022, A&K Travel Group Ltd., acquired Crystal Symphony and Crystal Serenity. After extensive refurbishment, both ships are expected to resume service in 2023 under the "Crystal Cruises" brand, which was acquired by A&K Travel Group Ltd earlier.
Overall, the luxury tourism industry is segmented in terms of type, tour, generation, standard and region.
Based on type, the customized and private vacations segment accounted for over 15% market share in 2022. Several customized & private vacation packages offered by different travel companies, which include accommodation at a resort or a hotel, meals, and sightseeing tours, would promote the market expansion in the coming years.
By tour, the solo segment held over 40% market share in 2022 and is expected to grow substantially through 2032. Traveling solo is cost-effective, puts the person in charge of decisions, helps an individual make decision, improves language skills, and is great for individual well-being.
Considering the generation, the millennial segment held over 25% market share in 2022. Millennials are reshaping the luxury travel industry. Besides, the spending power of the average millennial has also increased significantly. In addition, millennials are also seeking luxury accommodations with top-notch amenities, which will drive the market expansion in the future. The increasing technological advancements and social media will also play a key role in spurring millennials' demand for luxury tourism.
Regionally, the Asia Pacific luxury tourism industry is anticipated to exhibit more than 20% CAGR during the estimated timeframe. In addition, introduction to several government initiatives to increase tourism will positively influence the overall regional outlook. In 2022, The State Council of China announced a development plan for the tourism sector during the 14th 5-Year Plan period. The plan aims to bolster tourism sector by integrating cultural development and enhance barrier-free services.
Table of Contents
Chapter 1 Methodology & Scope
- 1.1 Market definition
- 1.2 Base estimates & forecast
- 1.3 Forecast calculations
- 1.4 Data Sources
- 1.4.1 Secondary
- 1.4.2 Primary
- 1.5 Industry Glossary
Chapter 2 Executive Summary
- 2.1 Luxury Tourism Market industry 360 degree synopsis, 2018 - 2032
- 2.2 Business trends
- 2.3 Regional trends
- 2.4 Type trends
- 2.5 Tour type trends
- 2.6 Generation trends
- 2.7 Standard trends
Chapter 3 Luxury Tourism Market Industry Insights
- 3.1 Introduction
- 3.2 Impact of COVID-19 outbreak
- 3.2.1 North America
- 3.2.2 Europe
- 3.2.3 Asia Pacific
- 3.2.4 Latin America
- 3.2.5 Middle East & Africa
- 3.3 Impact analysis of Russia-Ukraine war
- 3.4 Luxury tourism industry ecosystem analysis ecosystem analysis
- 3.4.1 Tour operators & travel agencies
- 3.4.2 Airline companies
- 3.4.3 Cruise liners
- 3.4.4 Hotels & resorts owners
- 3.4.5 Service providers
- 3.4.6 Technology providers
- 3.4.7 Third party payment issuers/providers
- 3.4.8 Marketing
- 3.4.9 Profit margin
- 3.4.10 Vendor matrix
- 3.5 Technology & innovation landscape
- 3.5.1 Voice and facial recognition
- 3.5.2 IoT and robotics
- 3.5.3 Contactless payments
- 3.5.4 Augmented Reality (AR) & Virtual Reality (VR)
- 3.5.5 Impact of AI and Big data
- 3.5.6 Cybersecurity measures
- 3.6 Patent analysis
- 3.7 Investment portfolio
- 3.8 Key initiatives & news
- 3.9 Regulatory landscape
- 3.9.1 North America
- 3.9.2 Europe
- 3.9.3 Asia Pacific
- 3.9.4 Latin America
- 3.9.5 MEA
- 3.10 Industry impact forces
- 3.10.1 Growth drivers
- 3.10.1.1 Large number of millennials in Europe
- 3.10.1.2 Rising spending on luxury tourism by baby boomers in North America and Europe
- 3.10.1.3 Growing trend of cruising holidays in Europe and Asia Pacific
- 3.10.1.4 Rising number of affluent consumers in Asia Pacific
- 3.10.1.5 Shift toward customized & private vacations in Latin America
- 3.10.1.6 Increasing demand for unique & exotic safari experiences in the MEA
- 3.10.2 Industry pitfalls & challenges
- 3.10.2.1 Reduced travel frequency due to coronavirus pandemic
- 3.10.2.2 Rising political turmoil in the global market
- 3.11 Growth potential analysis
- 3.12 Porter's analysis
- 3.12.1 Bargaining power of suppliers
- 3.12.2 Bargaining power of buyers
- 3.12.3 The threat of new entrants
- 3.12.4 The threat of substitute
- 3.12.5 Competitive rivalry
- 3.13 PESTEL analysis
- 3.13.1 Political
- 3.13.2 Economic
- 3.13.3 Social
- 3.13.4 Technological
- 3.13.5 Legal
- 3.13.6 Environmental
Chapter 4 Competitive Landscape, 2022
- 4.1 Introduction
- 4.2 Company market share, 2022
- 4.2.1 Competitive analysis of key market players, 2022
- 4.2.1.1 Jet2 Holidays
- 4.2.1.2 National Geographic Expeditions
- 4.2.1.3 TUI Group
- 4.2.1.4 Abercrombie & Kent USA, LLC
- 4.2.1.5 Silversea Cruises
- 4.2.2 Competitive analysis of innovative players, 2022
- 4.2.2.1 amp;Beyond
- 4.2.2.2 Travelopia
- 4.2.2.3 Audley Travel
- 4.2.2.4 Backroads
- 4.2.3 Competitive positioning matrix
- 4.2.4 Strategic outlook matrix
Chapter 5 Luxury Tourism Market, By Type
- 5.1 Key trends, by type
- 5.2 Customized & Private Vacations
- 5.2.1 Market estimates and forecast, 2018 - 2032
- 5.3 Celebration Journeys
- 5.3.1 Market estimates and forecast, 2018 - 2032
- 5.4 Adventure & Sport travel
- 5.4.1 Market estimates and forecast, 2018 - 2032
- 5.5 Safari
- 5.5.1 Market estimates and forecast, 2018 - 2032
- 5.6 Cruises Yachting & Small Ship
- 5.6.1 Market estimates and forecast, 2018 - 2032
- 5.7 Others
- 5.7.1 Market estimates and forecast, 2018 - 2032
Chapter 6 Luxury Tourism Market, By Tour Type
- 6.1 Key trends, by tour type
- 6.2 Solo
- 6.2.1 Market estimates and forecast, 2018 - 2032
- 6.3 Group
- 6.3.1 Market estimates and forecast, 2018 - 2032
Chapter 7 Luxury Tourism Market, By Generation
- 7.1 Key trends, by generation
- 7.2 Millennial
- 7.2.1 Market estimates and forecast, 2018 - 2032
- 7.3 Generation X
- 7.3.1 Market estimates and forecast, 2018 - 2032
- 7.4 Baby Boomers
- 7.4.1 Market estimates and forecast, 2018 - 2032
- 7.5 Others
- 7.5.1 Market estimates and forecast, 2018 - 2032
Chapter 8 Luxury Tourism Market, By Standard
- 8.1 Key trends, by standard
- 8.2 Luxury
- 8.2.1 Market estimates and forecast, 2018 - 2032
- 8.3 Ultra-Luxury
- 8.3.1 Market estimates and forecast, 2018 - 2032
Chapter 9 Luxury Tourism Market, By Region
- 9.1 Key trends, by region
- 9.2 North America
- 9.2.1 Market estimates and forecast, 2018 - 2032
- 9.2.2 Market estimates and forecast, by type, 2018 - 2032
- 9.2.3 Market estimates and forecast, by tour type, 2018 - 2032
- 9.2.4 Market estimates and forecast, by generation, 2018-2032
- 9.2.5 Market estimates and forecast, by standard, 2018 - 2032
- 9.2.6 U.S.
- 9.2.6.1 Market estimates and forecast, 2018 - 2032
- 9.2.6.2 Market estimates and forecast, by type, 2018 - 2032
- 9.2.6.3 Market estimates and forecast, by tour type, 2018 - 2032
- 9.2.6.4 Market estimates and forecast, by generation, 2018-2032
- 9.2.6.5 Market estimates and forecast, by standard, 2018 - 2032
- 9.2.7 Canada
- 9.2.7.1 Market estimates and forecast, 2018 - 2032
- 9.2.7.2 Market estimates and forecast, by type, 2018 - 2032
- 9.2.7.3 Market estimates and forecast, by tour type, 2018 - 2032
- 9.2.7.4 Market estimates and forecast, by generation, 2018-2032
- 9.2.7.5 Market estimates and forecast, by standard, 2018 - 2032
- 9.3 Europe
- 9.3.1 Market estimates and forecast, 2018 - 2032
- 9.3.2 Market estimates and forecast, by type, 2018 - 2032
- 9.3.3 Market estimates and forecast, by tour type, 2018 - 2032
- 9.3.4 Market estimates and forecast, by generation, 2018-2032
- 9.3.5 Market estimates and forecast, by standard, 2018 - 2032
- 9.3.6 UK
- 9.3.6.1 Market estimates and forecast, 2018 - 2032
- 9.3.6.2 Market estimates and forecast, by type, 2018 - 2032
- 9.3.6.3 Market estimates and forecast, by tour type, 2018 - 2032
- 9.3.6.4 Market estimates and forecast, by generation, 2018-2032
- 9.3.6.5 Market estimates and forecast, by standard, 2018 - 2032
- 9.3.7 France
- 9.3.7.1 Market estimates and forecast, 2018 - 2032
- 9.3.7.2 Market estimates and forecast, by type, 2018 - 2032
- 9.3.7.3 Market estimates and forecast, by tour type, 2018 - 2032
- 9.3.7.4 Market estimates and forecast, by generation, 2018-2032
- 9.3.7.5 Market estimates and forecast, by standard, 2018 - 2032
- 9.3.8 Italy
- 9.3.8.1 Market estimates and forecast, 2018 - 2032
- 9.3.8.2 Market estimates and forecast, by type, 2018 - 2032
- 9.3.8.3 Market estimates and forecast, by tour type, 2018 - 2032
- 9.3.8.4 Market estimates and forecast, by generation, 2018-2032
- 9.3.8.5 Market estimates and forecast, by standard, 2018 - 2032
- 9.3.9 Spain
- 9.3.9.1 Market estimates and forecast, 2018 - 2032
- 9.3.9.2 Market estimates and forecast, by type, 2018 - 2032
- 9.3.9.3 Market estimates and forecast, by tour type, 2018 - 2032
- 9.3.9.4 Market estimates and forecast, by generation, 2018-2032
- 9.3.9.5 Market estimates and forecast, by standard, 2018 - 2032
- 9.3.10 Russia
- 9.3.10.1 Market estimates and forecast, 2018 - 2032
- 9.3.10.2 Market estimates and forecast, by type, 2018 - 2032
- 9.3.10.3 Market estimates and forecast, by tour type, 2018 - 2032
- 9.3.10.4 Market estimates and forecast, by generation, 2018-2032
- 9.3.10.5 Market estimates and forecast, by standard, 2018 - 2032
- 9.4 Asia pacific
- 9.4.1 Market estimates and forecast, 2018 - 2032
- 9.4.2 Market estimates and forecast, by type, 2018 - 2032
- 9.4.3 Market estimates and forecast, by tour type, 2018 - 2032
- 9.4.4 Market estimates and forecast, by generation, 2018-2032
- 9.4.5 Market estimates and forecast, by standard, 2018 - 2032
- 9.4.6 China
- 9.4.6.1 Market estimates and forecast, 2018 - 2032
- 9.4.6.2 Market estimates and forecast, by type, 2018 - 2032
- 9.4.6.3 Market estimates and forecast, by tour type, 2018 - 2032
- 9.4.6.4 Market estimates and forecast, by generation, 2018-2032
- 9.4.6.5 Market estimates and forecast, by standard, 2018 - 2032
- 9.4.7 Japan
- 9.4.7.1 Market estimates and forecast, 2018 - 2032
- 9.4.7.2 Market estimates and forecast, by type, 2018 - 2032
- 9.4.7.3 Market estimates and forecast, by tour type, 2018 - 2032
- 9.4.7.4 Market estimates and forecast, by generation, 2018-2032
- 9.4.7.5 Market estimates and forecast, by standard, 2018 - 2032
- 9.4.8 India
- 9.4.8.1 Market estimates and forecast, 2018 - 2032
- 9.4.8.2 Market estimates and forecast, by type, 2018 - 2032
- 9.4.8.3 Market estimates and forecast, by tour type, 2018 - 2032
- 9.4.8.4 Market estimates and forecast, by generation, 2018-2032
- 9.4.8.5 Market estimates and forecast, by standard, 2018 - 2032
- 9.4.9 South Korea
- 9.4.9.1 Market estimates and forecast, 2018 - 2032
- 9.4.9.2 Market estimates and forecast, by type, 2018 - 2032
- 9.4.9.3 Market estimates and forecast, by tour type, 2018 - 2032
- 9.4.9.4 Market estimates and forecast, by generation, 2018-2032
- 9.4.9.5 Market estimates and forecast, by standard, 2018 - 2032
- 9.4.10 Southeast Asia
- 9.4.10.1 Market estimates and forecast, 2018 - 2032
- 9.4.10.2 Market estimates and forecast, by type, 2018 - 2032
- 9.4.10.3 Market estimates and forecast, by tour type, 2018 - 2032
- 9.4.10.4 Market estimates and forecast, by generation, 2018-2032
- 9.4.10.5 Market estimates and forecast, by standard, 2018 - 2032
- 9.4.11 Singapore
- 9.4.11.1 Market estimates and forecast, 2018 - 2032
- 9.4.11.2 Market estimates and forecast, by type, 2018 - 2032
- 9.4.11.3 Market estimates and forecast, by tour type, 2018 - 2032
- 9.4.11.4 Market estimates and forecast, by generation, 2018-2032
- 9.4.11.5 Market estimates and forecast, by standard, 2018 - 2032
- 9.4.12 Australia
- 9.4.12.1 Market estimates and forecast, 2018 - 2032
- 9.4.12.2 Market estimates and forecast, by type, 2018 - 2032
- 9.4.12.3 Market estimates and forecast, by tour type, 2018 - 2032
- 9.4.12.4 Market estimates and forecast, by generation, 2018-2032
- 9.4.12.5 Market estimates and forecast, by standard, 2018 - 2032
- 9.5 Latin America
- 9.5.1 Market estimates and forecast, 2018 - 2032
- 9.5.2 Market estimates and forecast, by type, 2018 - 2032
- 9.5.3 Market estimates and forecast, by tour type, 2018 - 2032
- 9.5.4 Market estimates and forecast, by generation, 2018-2032
- 9.5.5 Market estimates and forecast, by standard, 2018 - 2032
- 9.5.6 Brazil
- 9.5.6.1 Market estimates and forecast, 2018 - 2032
- 9.5.6.2 Market estimates and forecast, by type, 2018 - 2032
- 9.5.6.3 Market estimates and forecast, by tour type, 2018 - 2032
- 9.5.6.4 Market estimates and forecast, by generation, 2018-2032
- 9.5.6.5 Market estimates and forecast, by standard, 2018 - 2032
- 9.5.7 Mexico
- 9.5.7.1 Market estimates and forecast, 2018 - 2032
- 9.5.7.2 Market estimates and forecast, by type, 2018 - 2032
- 9.5.7.3 Market estimates and forecast, by tour type, 2018 - 2032
- 9.5.7.4 Market estimates and forecast, by generation, 2018-2032
- 9.5.7.5 Market estimates and forecast, by standard, 2018 - 2032
- 9.5.8 Argentina
- 9.5.8.1 Market estimates and forecast, 2018 - 2032
- 9.5.8.2 Market estimates and forecast, by type, 2018 - 2032
- 9.5.8.3 Market estimates and forecast, by tour type, 2018 - 2032
- 9.5.8.4 Market estimates and forecast, by generation, 2018-2032
- 9.5.8.5 Market estimates and forecast, by standard, 2018 - 2032
- 9.5.9 Peru
- 9.5.9.1 Market estimates and forecast, 2018 - 2032
- 9.5.9.2 Market estimates and forecast, by type, 2018 - 2032
- 9.5.9.3 Market estimates and forecast, by tour type, 2018 - 2032
- 9.5.9.4 Market estimates and forecast, by generation, 2018-2032
- 9.5.9.5 Market estimates and forecast, by standard, 2018 - 2032
- 9.6 MEA
- 9.6.1 Market estimates and forecast, 2018 - 2032
- 9.6.2 Market estimates and forecast, by type, 2018 - 2032
- 9.6.3 Market estimates and forecast, by tour type, 2018 - 2032
- 9.6.4 Market estimates and forecast, by generation, 2018-2032
- 9.6.5 Market estimates and forecast, by standard, 2018 - 2032
- 9.6.6 GCC
- 9.6.6.1 Market estimates and forecast, 2018 - 2032
- 9.6.6.2 Market estimates and forecast, by type, 2018 - 2032
- 9.6.6.3 Market estimates and forecast, by tour type, 2018 - 2032
- 9.6.6.4 Market estimates and forecast, by generation, 2018-2032
- 9.6.6.5 Market estimates and forecast, by standard, 2018 - 2032
- 9.6.7 South Africa
- 9.6.7.1 Market estimates and forecast, 2018 - 2032
- 9.6.7.2 Market estimates and forecast, by type, 2018 - 2032
- 9.6.7.3 Market estimates and forecast, by tour type, 2018 - 2032
- 9.6.7.4 Market estimates and forecast, by generation, 2018-2032
- 9.6.7.5 Market estimates and forecast, by standard, 2018 - 2032
Chapter 10 Company Profiles
- 10.1 &Beyond
- 10.1.1 Business Overview
- 10.1.2 Financial Data
- 10.1.3 Product Landscape
- 10.1.4 Strategic Outlook
- 10.1.5 SWOT Analysis
- 10.2 Abercrombie & Kent USA, LLC
- 10.2.1 Business Overview
- 10.2.2 Financial Data
- 10.2.3 Product Landscape
- 10.2.4 Strategic Outlook
- 10.2.5 SWOT Analysis
- 10.3 Audley Travel
- 10.3.1 Business Overview
- 10.3.2 Financial Data
- 10.3.3 Product Landscape
- 10.3.4 Strategic Outlook
- 10.3.5 SWOT Analysis
- 10.4 Backroads
- 10.4.1 Business Overview
- 10.4.2 Financial Data
- 10.4.3 Product Landscape
- 10.4.4 Strategic Outlook
- 10.4.5 SWOT Analysis
- 10.5 Butterfield & Robinson Inc.
- 10.5.1 Business Overview
- 10.5.2 Financial Data
- 10.5.3 Product Landscape
- 10.5.4 Strategic Outlook
- 10.5.5 SWOT Analysis
- 10.6 Classic Journeys
- 10.6.1 Business Overview
- 10.6.2 Financial Data
- 10.6.3 Product Landscape
- 10.6.4 Strategic Outlook
- 10.6.5 SWOT Analysis
- 10.7 G Adventures
- 10.7.1 Business Overview
- 10.7.2 Financial Data
- 10.7.3 Product Landscape
- 10.7.4 Strategic Outlook
- 10.7.5 SWOT Analysis
- 10.8 Greaves Travels
- 10.8.1 Business Overview
- 10.8.2 Financial Data
- 10.8.3 Product Landscape
- 10.8.4 Strategic Outlook
- 10.8.5 SWOT Analysis
- 10.9 Inspiring Travel Company
- 10.9.1 Business Overview
- 10.9.2 Financial Data
- 10.9.3 Product Landscape
- 10.9.4 Strategic Outlook
- 10.9.5 SWOT Analysis
- 10.10 Jet2Holidays
- 10.10.1 Business Overview
- 10.10.2 Financial Data
- 10.10.3 Product Landscape
- 10.10.4 Strategic Outlook
- 10.10.5 SWOT Analysis
- 10.11 Lindblad Expeditions
- 10.11.1 Business Overview
- 10.11.2 Financial Data
- 10.11.3 Product Landscape
- 10.11.4 Strategic Outlook
- 10.11.5 SWOT Analysis
- 10.12 Micato Safaris Inc.
- 10.12.1 Business Overview
- 10.12.2 Financial Data
- 10.12.3 Product Landscape
- 10.12.4 Strategic Outlook
- 10.12.5 SWOT Analysis
- 10.13 National Geographic Expeditions, LLC
- 10.13.1 Business Overview
- 10.13.2 Financial Data
- 10.13.3 Product Landscape
- 10.13.4 Strategic Outlook
- 10.13.5 SWOT Analysis
- 10.14 Quasar Expeditions
- 10.14.1 Business Overview
- 10.14.2 Financial Data
- 10.14.3 Product Landscape
- 10.14.4 Strategic Outlook
- 10.14.5 SWOT Analysis
- 10.15 Scott Dunn Ltd.
- 10.15.1 Business Overview
- 10.15.2 Financial Data
- 10.15.3 Product Landscape
- 10.15.4 Strategic Outlook
- 10.15.5 SWOT Analysis
- 10.16 Silversea Cruises Ltd.
- 10.16.1 Business Overview
- 10.16.2 Financial Data
- 10.16.3 Product Landscape
- 10.16.4 Strategic Outlook
- 10.16.5 SWOT Analysis
- 10.17 Thomas Cook (India) Ltd. (TCIL)
- 10.17.1 Business Overview
- 10.17.2 Financial Data
- 10.17.3 Product Landscape
- 10.17.4 Strategic Outlook
- 10.17.5 SWOT Analysis
- 10.18 Travelopia
- 10.18.1 Business Overview
- 10.18.2 Financial Data
- 10.18.3 Product Landscape
- 10.18.4 Strategic Outlook
- 10.18.5 SWOT Analysis
- 10.19 TUI Group
- 10.19.1 Business Overview
- 10.19.2 Financial Data
- 10.19.3 Product Landscape
- 10.19.4 Strategic Outlook
- 10.19.5 SWOT Analysis
- 10.20 Zicasso, Inc.
- 10.20.1 Business Overview
- 10.20.2 Financial Data
- 10.20.3 Product Landscape
- 10.20.4 Strategic Outlook
- 10.20.5 SWOT Analysis