Luxury Tourism Market Growth Statistics, Trends Analysis, Revenue and Forecast to 2030

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Luxury Tourism Market Growth Statistics, Trends
Analysis, Revenue and Forecast to 2030
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• Industry Insights

• The luxury tourism market size is anticipated to
  exceed USD 82 billion in annual revenue by 2030.
  In the modern era, with more and more luxury
  travelers becoming digital, new app-based
  innovative services for trip planning have
  emerged to offer highly curated along with
  personalized immersions at the travel destination
  to match the individual preferences.
• The increasing per capita incomes and the higher
  convenience of domestic and international flights
  have led to some significant strides in the
  travel and tourism sector. With the collective
  inclination of travelers towards reliable
  transport alongside a great deal of comfort and
  quality, the preference for personalized and
  speeded services has come to the fore. The
  limitation of packaged tours, in terms of lack of
  personalization and superiority on various levels
  has also steered the need for elevated travel
  experiences.
• In light of these factors, the luxury tourism
  industry is growing by heaps and bounds to cater
  to the growing demand of travelers for comfort
  and safety. The swiftly expanding millennial and
  Generation Z population account for a significant
  proportion of luxury travel consumers, further
  contributing to a high-end image on social
  networks.

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• The increasing quest for providing more freedom
  and flexibility to travelers, unlike packaged
  tours, has trickled the higher penchant for
  private and tailor-made tours. Customization of
  vacations defines true luxury that extends far
  beyond haute couture to offer one-of-a-kind
  journey. Reliable travel company, safe and secure
  travel, financial protection, and a personal trip
  coordinator are some of the perks associated with
  customized travel plans. The increasing interest
  in private vacations as they follow a specific
  itinerary will also boost the luxury tourism
  market.
• In recent years, the inclination toward safari
  travel has picked up considerable steam as they
  play a vital role in creating awareness regarding
  wildlife conservation while benefiting the local
  communities. In fact, the most sought-after
  African safari travel provides remuneration for
  local conservation projects and game parks to
  help protect the habitats and wildlife. Other
  than limiting the need for an itinerary and
  offering the edge of ease of planning, short
  safari trips are time and budget friendly.
• Luxury mega-yachts, sailing ships and
  expedition-style vessels have evolved largely
  popular as they tap into the limitations of
  larger ships in tucking away to exotic locales
  and pristine beaches. In July 2021, Royal
  Caribbean Group-owned Silversea Cruises bought
  the Endeavour, its newest luxury expedition
  cruise ship, for 275 million for continuing the
  expansion of its expedition arm. The rise in such
  initiatives will prove favorable for industry
  growth.

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• Competitive Analysis

• Global Luxury Tourism Market growth will be
  positively affected by the notable presence of
  reputed organizations, such as Abercrombie Kent
  USA, LLC., Silversea Cruises, Thomas Cook (India)
  Ltd., TUI Group, Jet2 Holidays, G Adventures,
  Backroads

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