The luxury travel market could grow to USD 1.23 trillion by 2025

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https://en.travel2latam.com/nota/75067-the-luxury-travel-market-could-grow-to-usd-123-trillion-by-2025
The luxury travel market could grow to USD 1.23 trillion by 2025
Source: JetBlue Airways
June 27, 2022

The figure has been revealed in a report published by Technavio. The USA, Germany, China, France and the United Kingdom have been highlighted as the most important issuing markets


Technavio has just published a report that identifies the potential growth gap of the luxury tourism market. There it highlights that it could reach USD 1.23 trillion until 2025. It is also anticipated that there will be a slowing growth momentum at a CAGR of 25.7% during the projected period. 

Geography

  • Europe – 30% of the market growth will originate from Europe during the forecast period. Germany, France and the UK are the key markets for luxury travel in Europe. Market growth in this region will be slower than market growth in other regions. Factors such as rising disposable income, growing number of baby boomers, and growing demand for personalized vacations will fuel the growth of the market. In addition, the presence of numerous exotic destinations, the availability of transportation facilities, the rapid increase in the number of food and beverage festivals and the presence of major suppliers will drive the growth of the luxury travel market in Europe during the forecast period. . 
  • North America
  • APAC
  • MEA
  • South America
Scope of the luxury travel market

Technavio calculates the size of the global hotel, restaurant and leisure industry market based on the combined revenue generated by casino and gaming companies; hotels, restaurants and leisure; leisure facilities; and restaurants. Our report provides extensive insights into value chain analysis for the luxury travel market, which vendors can leverage to gain a competitive advantage during the forecast period. 

Luxury Travel Market 2021-2025: Highlights
  • Market CAGR during the forecast period 2021-2025
  • Detailed information on the factors that will contribute to the growth of the luxury travel market during the next five years
  • Estimation of the size of the luxury travel market and its contribution to the parent market
  • Predictions about upcoming trends and changes in consumer behavior
  • The growth of the luxury travel market
  • Analysis of the competitive landscape of the market and detailed information on the suppliers.
  • Comprehensive details of factors that will challenge the growth of the luxury travel market, suppliers
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