Globally Luxury Travel Market is anticipated to grow at a CAGR of 7.2% during the forecast period (2024-2031).The increased demand for unique and personalized travel experiences, expanding Disposable Income is the key factor growth of luxury travel market. the population seeking luxury travel alternatives, and increasing focus on wellness and sustainability in luxury travel services are some of the primary drivers fuelling the market.
Some of the prominent market participants in Global Market Infrastructure are Abercrombie & Kent USA, LLC, Virtuoso, Ltd., Scott Dunn Ltd, Butterfield & Robinson Inc,TUI AG,Travcoa Corporation, Europe dominated the luxury travel industry in 2023, This is due to growing wealth of the person and transport connections.
Browse the full report description of “Luxury Travel Market Size, Share & Trends Analysis Report By Luxury Travel Tour (Customized & Private Vacations , Safari & Adventure , Cruises, Yachting And Small Ship Expeditions , Celebration Journeys, Culinary Travel) By Age (Millenial, Genrationx , Baby Boomer) Forecast Period (2024-2031)” at https://www.omrglobal.com/industry-reports/luxury-travel-market
Some of the key trends in Global Luxury Travel Market
In December 2023 Marriott International Redefines the Luxury Hospitality Landscape with a Strong Pipeline of One-of-a-kind Hotels and Resorts Set to Debut in 2024Marriott International celebrates the opening of its 500th luxury hotel, solidifying its position as a leader in the market.The company boasts a diverse portfolio of luxury brands like The Ritz-Carlton and W Hotels, offering unique experiences and cultural immersion.With over 200 additional luxury hotels in development, including 24 slated for 2024, Marriott is poised for continued growth.
In February 2024 Hilton and Small premium Hotels (SLH) collaborate to increase their premium offerings internationally. This cooperation enables Hilton's 180 million+ members to access and book stays at SLH's 560 distinct boutique hotels across 90 countries. This alliance broadens both companies reach and boosts their standing in the global luxury market.
Market Coverage
• The market number available for – 2023-2031
• Base year- 2023
• Forecast period- 2024-2031
• Segment Covered-
o By Luxury Travel Tour
o By Age
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape includes Absolute Travel and Tours Ltd., Butterfield and Robinson Inc., Classic Journeys LLC, Exodus Travels Ltd., G Adventures among others.
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