Luxury Travel Market
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Luxury Travel  
Market
Outlook, Growth Factors, Industry 
Share,  Size By 2029
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Luxury Travel  Market
Luxury Travel  Market Outlook, Growth Factors, Industry  
Share, Size by 2029| Straits Research
The luxury travel market is growing, backed by consumer spending, growing Chinese millennials, 
and expansion of the tourism sector. Growing Chinese middle-class at a faster rate are key 
contributors to the market growth. The Asian consumers are rapidly spending on travel based on 
celebration & special events strongly supported by increased disposable income.  In addition, the 
rising affluence and a relaxation of visa restrictions on Chinese travellers by the Chinese 
government are rapidly boosting the market growth.
As the working populace is growing with a greater number of women in working-class, 
consumer’s expenditure on travel is on a rise. As a result, the market has seen an upsurge in more 
women travellers, driving the market growth. 
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Luxury Travel  Market
The luxury travel market size is expected to expand at a CAGR of 12% from 2017 to 2029. 
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Luxury Travel  Market
Luxury Travel  Market Players Covered in This Report:
• Abercrombie & Kent USA, LLC
• Virtuoso, Ltd.
• Scott Dunn Ltd
• Butterfield & Robinson Inc
• TUI AG
• Travcoa (The Luxury Travel Group)
• Micato Safaris, Inc.
• Ker & Downey
• Tauck, Inc.
• Black Tomato Group
A Summary of the Impact of COVID-19 on this Market:
The appearance of  COVID-19 has transported the globe to a halt. We understand that this 
health  disaster has brought an unprecedented impact on businesses across industries. 
However, this too  shall pass. Growing support from governments and various companies 
can benefit in the fight  against this highly transmissible disease. There are some 
businesses that are struggling and some  are thriving. General, almost every sector is 
anticipated to be stuck by the pandemic.         
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Luxury Travel  Market
The Luxury Travel  Market has been segmented as below:
By Type of Tour By Type of Traveller
• Cruise/ship expedition • Absolute luxury
• Adventure & safari • Aspiring luxury
• Celebration & special events • Accessible luxury
• Customized & private vacations
• Culinary travel & shopping By Region
• Business tours
• Small group journey • North America
• Europe
By Age Group • Asia-Pacific
• South America
• Millennial (21–30) • The Middle East and Africa
• Generation X (31–40)
• Baby boomers (41–60)
• Silver hair (60 and above)
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About Straits Research
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