New Market Study Report “Luxury Travel Market –Market Demand, Growth, Opportunities, Analysis of Top Key Players and Forecast to 2028” Wiseguyreports.Com Adds.
New Study Reports "Luxury Travel 2019 Global Market Opportunities, Challenges, Strategies and Forecasts 2028".
Introduction / Market Overview:
Upscaling Disposable Income to Complement Growth in Global Luxury Travel Market
As per the latest report, the global luxury travel market is estimated to witness proliferated growth during the forecast period. Increasing disposable income of consumers and rising spending from the middle-class and upper-class population are some of the primary factors causative to the ascension of the global luxury travel market. Further, growing inclination towards travel memories and higher spending on experiences, rather than materialistic objects has also provided momentum to the luxury travel market growth. Apart from that, increasing number of micro trips and emergence in tourism and corporate industries all over the globe have led to surging adoption of luxury travel, driving the market.
In addition, the global luxury travel market is witnessing fast paced growth due to a higher number of travelers who have started preferring personalized services, reliable support, and exclusivity. Further, a positive and professional interaction with the staff has set the benchmark in the luxury travel industry, hence, contributing to market growth. Rise in political stability all over the world, in terms of gender, ethnicity, sexual orientation, racism, human rights, among other things, has proven to be a growth promoter for the luxury travel market.
Long haul travelers are seen seeking for the creation of their own customized holiday. This, in turn, has led market players to provide flexible itineraries for a relaxing and entertaining travel experience, for a significant fee. However, such personalization is providing travelers with the opportunity to travel according to their desires, hence, leading them to consider and opt for higher-end packages, as compared to conventional and rigid packages. This is expected to prove a positive influence on the market growth. Further, travelers are investing time in conducting online research, which is also expected to fuel the global luxury travel market over the estimate period.
Important Key players Analysis: TUI Group, Thomas Cook Group, Jet2 Holidays, Cox & Kings Ltd, Lindblad Expeditions, Travcoa, Scott Dunn, Abercrombie & Kent Ltd, Micato Safaris, Tauck, Al Tayyar, Backroads, Zicasso, Exodus Travels, Butterfield & Robinson and more.
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The global luxury travel market is segmented by type, application, sales channel, and region. Based on type, the segments of the luxury travel market studied in the report include customized and private vacation, adventure and safari, small group journey, cruise/ship expedition, small group journey, and celebration and special event.
Based on application, the luxury travel market is segmented into generation X, millennial, and baby boomers. Based on sales channel, the market for luxury travel market is segmented into direct channel and distribution channel.
Detailed Regional Analysis
The global luxury travel market is assessed to grow at a speedy pace over the forecast period. However, to gain a profound understanding of the market landscape, it has been studied in detail for various regional segments such as North America, South America, the Middle East & Africa, Asia Pacific, the Middle East & Africa, and Europe. North America held a chief share in the global luxury travel market in the base year and is expected to hold its domination over the forecast period. Asia Pacific is anticipated to emerge as the largest growth pocket during the forecast period. This can be owed to the improvements in the standard of living of people residing in the region.
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Source: EIN Presswire