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LUXURY TRAVEL

Global Market Trajectory & Analytics

MCP13127

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  •  DATE

    JULY 2020

  •  TABLES

    216

  •  PAGES

    288

  •  EDITION

    9

  •  PRICE

    USD $5450

COVID-19 IMPACT SURVEY
Amid the COVID-19 crisis, the global market for Luxury Travel estimated at US$927.3 Billion in the year 2020, is projected to reach a revised size of US$1.3 Trillion by 2027, growing at a CAGR of 5.3% over the analysis period 2020-2027.Customized & Private Vacation, one of the segments analyzed in the report, is projected to grow at a 6.4% CAGR to reach US$310.6 Billion by the end of the analysis period.After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Adventure & Safari segment is readjusted to a revised 5.2% CAGR for the next 7-year period. This segment currently accounts for a 41.7% share of the global Luxury Travel market.
The Luxury Travel market in the U.S. is estimated at US$251.1 Billion in the year 2020. The country currently accounts for a 27.08% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$278.2 Billion in the year 2027 trailing a CAGR of 8.2% through 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.9% and 4.7% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.3% CAGR while Rest of European market (as defined in the study) will reach US$278.2 Billion by the year 2027.
In the global Cruise/Ship Expedition segment, USA, Canada, Japan, China and Europe will drive the 4.1% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$110.7 Billion in the year 2020 will reach a projected size of US$146.5 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$177.1 Billion by the year 2027, while Latin America will expand at a 5.5% CAGR through the analysis period. We bring years of research experience to this 9th edition of our report. The 288-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.
Competitors identified in this market include, among others, Abercrombie & Kent USA, LLC; Butterfield & Robinson; Cox & Kings Ltd.; Kensington Tours Ltd.; Ker and Downey; Micato Safaris; Tauck, Inc.; Thomas Cook Ltd.; Travcoa; TUI AG
» Tour Type (Customized & Private Vacation, Adventure & Safari, Cruise/Ship Expedition, Small Group Journey, Celebration & Special Event, Culinary Travel & Shopping) » Travel Type (Absolute Luxury, Aspiring Luxury, Accessible Luxury)
» World » United States » Canada » Japan » China » Europe » France » Germany » Italy » United Kingdom » Spain » Russia » and Rest of Europe » Asia-Pacific » Australia » India » South Korea » and Rest of Asia-Pacific » Latin America » Argentina » Brazil » Mexico » and Rest of Latin America » Middle East » Iran » Israel » Saudi Arabia » United Arab Emirates » and Rest of Middle East » and Africa

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