luxury travel statistics

• Travel, Tourism & Hospitality

Luxury travel and tourism worldwide - statistics & facts

What are the leading luxury hotel brands in the world, how is the luxury cruise market faring, what are the preferences of affluent travelers, key insights.

Detailed statistics

Value of various global luxury markets 2022, by market type

Growth rates of the luxury cruise market value worldwide 2023

Affluent consumers' preferred holiday activities worldwide Q4 2023

Editor’s Picks Current statistics on this topic

Current statistics on this topic.

Luxury Goods

Highest-rated luxury hotel brands in North America 2023

Full-Service Retaurants

Selected countries with the most Michelin-starred restaurants worldwide 2023

Related topics

Affluent consumers.

• Billionaires around the world
• Millionaires in the U.S.
• High net worth individuals in Europe
• High-net-worth collectors

Hotel industry

• Hotel industry worldwide
• Hotel industry in the U.S.
• Marriott International

Cruise industry

• Cruise industry worldwide
• Cruise industry in the United States
• Cruise industry in Europe

Recommended statistics

• Premium Statistic Luxury travel market size worldwide 2022-2032
• Premium Statistic Value of various global luxury markets 2022, by market type
• Premium Statistic Growth rates of the luxury hospitality market value worldwide 2022
• Premium Statistic Growth rates of the luxury cruise market value worldwide 2023
• Premium Statistic Fashion and luxury goods M&A deals worldwide in 2022, by product category
• Premium Statistic Fashion and luxury goods: average M&A deal value worldwide 2022, by product category

Luxury travel market size worldwide 2022-2032

Estimated size of the luxury travel market worldwide in 2022, with a forecast for 2032 (in billion U.S. dollars)

Value of various global luxury markets in 2022, by market type (in billion euros)

Growth rates of the luxury hospitality market value worldwide 2022

Growth rates of the luxury hospitality market value worldwide in 2022

Growth rates of the luxury cruise market value worldwide in 2023

Fashion and luxury goods M&A deals worldwide in 2022, by product category

Number of merger and acquisition deals in the fashion and luxury goods sector worldwide in 2022, by sector

Fashion and luxury goods: average M&A deal value worldwide 2022, by product category

Average merger and acquisition deal value in the fashion and luxury goods sector worldwide in 2022, by sector (in million U.S. dollars)

Luxury accommodation market

• Premium Statistic Global luxury hotel supply 1983-2023
• Premium Statistic Supply of ultra-luxury hotels worldwide 1983-2023
• Premium Statistic Share of luxury hotel supply worldwide 2023, by brand
• Premium Statistic Share of luxury hotel supply in the Americas 2023, by brand
• Premium Statistic Highest-rated luxury hotel brands in North America 2023
• Premium Statistic Luxury hotels: average M&A deal value worldwide 2022

Global luxury hotel supply 1983-2023

Luxury hotel supply worldwide from 1983 to 2023, with a forecast for 2033 (in 1,000s)

Supply of ultra-luxury hotels worldwide 1983-2023

Ultra-luxury hotel supply worldwide from 1983 to 2023 (in 1,000s)

Share of luxury hotel supply worldwide 2023, by brand

Distribution of the luxury hotel supply worldwide as of February 2023, by brand

Share of luxury hotel supply in the Americas 2023, by brand

Distribution of the luxury hotel supply in the Americas as of February 2023, by brand

Highest-rated luxury hotel brands in North America as of May 2023

Luxury hotels: average M&A deal value worldwide 2022

Average merger and acquisition deal value in the luxury hotel market worldwide from 2016 to 2022 (in million U.S. dollars)

Company focus: Inspirato

• Premium Statistic Number of active Inspirato subscribers worldwide 2017-2022
• Premium Statistic Total revenue of Inspirato worldwide 2012-2022
• Premium Statistic Quarterly number of nights booked through Inspirato worldwide 2020-2023

Number of active Inspirato subscribers worldwide 2017-2022

Total number of active Inspirato subscribers worldwide from 2017 to 2022 (in 1,000s)

Total revenue of Inspirato worldwide 2012-2022

Total revenue of Inspirato worldwide from 2012 to 2022 (in million U.S. dollars)

Quarterly number of nights booked through Inspirato worldwide 2020-2023

Total number of nights booked through Inspirato worldwide from 1st quarter 2020 to 1st quarter 2023

Luxury cruise market

• Premium Statistic Luxury cruises: average M&A deal value worldwide 2022
• Premium Statistic Passenger capacity of luxury cruise brands worldwide 2022
• Premium Statistic Number of ships operated by luxury cruise brands worldwide 2022
• Basic Statistic Most expensive luxury cruise trips on Tripadvisor worldwide 2023

Luxury cruises: average M&A deal value worldwide 2022

Average merger and acquisition deal value in the luxury cruise market worldwide from 2016 to 2022 (in million U.S. dollars)

Passenger capacity of luxury cruise brands worldwide 2022

Passenger capacity of selected luxury cruise brands worldwide in 2022

Number of ships operated by luxury cruise brands worldwide 2022

Number of ships operated by selected luxury cruise brands worldwide in 2022

Most expensive luxury cruise trips on Tripadvisor worldwide 2023

Most expensive luxury cruise trips listed on Tripadvisor worldwide as of August 2023 (in U.S. dollars)

Affluent travelers

• Premium Statistic Share of affluent consumers buying travel products worldwide Q4 2023, by age
• Premium Statistic Affluent consumers expecting to take a vacation worldwide H2 2022, by type
• Premium Statistic Preferred types of holiday in the Americas for affluent consumers worldwide Q4 2023
• Premium Statistic Preferred types of holiday in Europe among affluent consumers worldwide Q4 2023
• Premium Statistic Affluent consumers' preferred holiday activities worldwide Q4 2023
• Premium Statistic Interest of affluent consumers in travel and luxury brand partnerships worldwide 2022
• Premium Statistic Interest of affluent consumers in technology to improve holidays worldwide H2 2022

Share of affluent consumers buying travel products worldwide Q4 2023, by age

Share of affluent consumers that purchased travel products worldwide as of 4th quarter 2023, by age

Affluent consumers expecting to take a vacation worldwide H2 2022, by type

Share of affluent consumers that expected to take a holiday within the next year in selected regions worldwide as of 2nd half 2022, by type of vacation

Preferred types of holiday in the Americas for affluent consumers worldwide Q4 2023

Share of global affluent consumers willing to take a holiday in the Americas as of 4th quarter 2023, by type

Preferred types of holiday in Europe among affluent consumers worldwide Q4 2023

Share of global affluent consumers willing to take a holiday in Europe as of 4th quarter 2023, by type

Affluent consumers' preferred holiday activities worldwide Q4 2023

Main holiday activities done by affluent consumers worldwide as of 4th quarter 2023

Interest of affluent consumers in travel and luxury brand partnerships worldwide 2022

Share of affluent consumers that were interested in travel brands partnering with other luxury brands in selected regions worldwide as of 2nd half 2022

Interest of affluent consumers in technology to improve holidays worldwide H2 2022

Share of affluent consumers that were interested in the use of technology to improve their holidays in selected regions worldwide as of 2nd quarter 2022

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Luxury Travel Market Size, Share, Competitive Landscape and Trend Analysis Report by Types of Tour, by Age Group, by Types of Traveler : Global Opportunity Analysis and Industry Forecast, 2021-2031

CG : Sports, Fitness and Leisure

Report Code: A01337

Tables: 122

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The global luxury travel market size was valued at $638.2 billion in 2021, and is projected to reach $1650.5 billion by 2031, growing at a CAGR of 8.9% from 2022 to 2031.Luxury travel services cover most desirable and premium experience in terms of luxurious accommodations, convenient transport facilities, and authentic travel experience. The service providers aim to provide outstanding services to its travelers. Private jet planes, spas, special menus, private island rentals, and private yacht are some of the unique services offered by the stakeholders to the travelers. Travelers, nowadays, focus on experimenting with destinations to gain experience in terms of cultures, foods, and other experiences. To gain a valuable and unforgettable experience, people increasingly opt for unique trips, which include cultural visit, cruising, and adventure activities. The luxury travel industry has emerged as one of the fastest growing sectors to contribute significantly to the global economic growth and development. Growth in disposable income and increase in upper middle class expenditure has raised the demand for higher service standards. To capitalize the same, market players formulate unique strategies to target the growth in middle class segment; for instance, hiring qualified individuals who can speak international language and communicate easily with travelers. This rise in demand for unique travel experiences offers tremendous opportunities for the market players to remain competitive.

The luxury travel market size is projected to be the fastest growing segment of the travel industry worldwide during the forecast period. The key drivers of rising luxury travel trend include inclination of people toward unique and exotic holiday experiences, increase in the middle- & upper-class disposable income & related expenditure, and growth in need and interest of people to spend more time with family. The growth luxury travel market is attributed to the increase in disposable income and growth in middle class population in countries such as China, Hong Kong, India, and Malaysia. As per recent statistics, Asia-Pacific millionaires now control more wealth than their peers in North America. In terms of future spending options, travel has been recognized as the top priority with greater focus on unique luxury experiences and adventure activities. Although the key developed countries such as the U.S. hold a highest revenue share of the luxury travel market, there has been a rise in demand for international luxury travel in developing countries such as China and India. This drift is due to the increase in the per capita income of middle-class travelers in the developing countries.

COVID-19 pandemic has impacted all industries globally. The tourism industry has been hit hard all over the world, impacting its associated sectors such as travel agencies, hospitality, tour operators, all kinds of transportation services. Around 90% of the global population was adjusted to their lifestyle under several travel restrictions and remaining population stayed home in fear of the virus itself. Thus, the tourism sector came to a near standstill. According to the article published by the World Travel and Tourism Council (WTCC) in August 2020, the COVID-19 pandemic is likely to cost the tourism industry revenue loss of almost $25 billion and a loss of almost 100 million jobs worldwide. Furthermore, owing to the implementation of lockdown and social distancing norms in almost every country of the world, flights were grounded, trains stopped running, and almost all public transport services were halted. With social distancing becoming the new lifestyle in public places and masks & gloves turning to be daily wear accessories, people prefer to remain safe at homes, thereby declining the number of travelers.

According to the market analysis, the luxury travel market is segmented into types of tour, age group, types of travelers, and region. As per types of tour, the market is categorized into customized and private vacations, adventure and safari, cruise/ship expedition, small group journey, celebration and special events and culinary travel and shopping. By age group, it is segregated into millennial, generation x, baby boomer and silver hair. Depending on types of travelers, it is segmented into absolute luxury, aspiring luxury and accessible luxury. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, Spain, Italy and Rest of Europe), Asia-Pacific (China, India, Singapore and Rest of Asia-Pacific), and LAMEA (Middle East, Latin America and Africa).

On the basis of type of tour, the cruise/ship expedition segment accounted for around 4.6% of global luxury travel market share in 2021, and is expected to sustain its share throughout luxury travel market forecast period.  Luxury cruising is gaining attraction and is expected to get tripled by the next decade. From the growth perspective, Asia-Pacific and LAMEA are the two potential markets, expected to witness considerably higher growth rates during the forecast period. Introduction of innovative cruise design concepts, new ship lengths, new and more exotic destinations around the globe, and new on-board and on-shore activities and themes drive the growth of the market for cruise/ship expedition. Luxury cruising is mostly opted by silver hair group since it is much more convenient, relaxing, and more glorious mode of traveling. With the advent of Crystal Cruises’ luxury travel portfolio has expanded into the luxury river cruise market and yachting & air market. Thus, aforementioned factors are likely to supplement for the growth of the luxury travel market through cruise/ship expedition segment during forecast period.

On the basis of age group, the millennial segment was valued at $83,842.5 million in 2021, and is expected to reach $242,050.1 million by 2031, with a CAGR of 10.1%. North America and Europe together accounted for about 67.4% of the millennial luxury travel market revenue in 2021, with the former constituting around 28%. From a growth perspective, Asia-Pacific and LAMEA are the two potential markets, expected to witness considerably higher growth rates over the forecast period. Millennial’s are avid travelers comprising of maximum number of population of traveling, on an average, millennial’s spend $527 a day on a trip which is 62% less than their older counterparts. They generally look for cultural and leisure breaks. Millennial’s are driven by wanderlust and breaking life’s monotony, these group of youngsters prefer short trips to culturally rich and different countries, also local shopping is a major factor of their traveling. Honeymoons and romantic gateways are also some important factors driving this category. Thus, above factors collectively increase luxury travel market demand through the millennial segment.

According to the luxury travel market trends, depending on types of travelers, the aspiring luxury segment was valued at $202,139.7 million in 2021, and is expected to reach $513,454.9 million by 2031, with a CAGR of 8.7%. Aspiring luxury class majorly comprises the millennial generation who prefer short, luxury trips, as they are moderately wealthy. This segment also comprise of ‘newly rich’, which are willing to pour money into the luxury travel industry and are the front-runner of this segment. Aspiring luxury travelers take an average of five business and leisure trips per year, owing to their high spending power and the potential to afford luxury traveling. Mid-income and aspirational shoppers are fostering the growth of upper premium brands and the second-hand market. Destinations such as Dubai have initiated programs to encourage investments in midmarket hotels such as releasing government land plots for three and four star hotel projects. Aspiring luxury prefer exclusive and unique destinations for their shopping which are specifically abroad destinations, while they have ample resources to spend, they are comparative don’t go all out for luxury services. This segment includes young, aspirational individuals who earn significantly and have limited family responsibilities. Increasing aspiring luxury travelers are likely to supplement the luxury travel market growth during forecast period.

Region wise, the North America was valued at $152,531.4 million in 2021, and is expected to reach $354,846.3 million by 2031, with a CAGR of 7.8%. The U.S. is driving the luxury travel market in North American region, with wealthiest of population and most outbound trips. Canada and Mexico’s luxury travel market also show a hike in the number of people opting for luxury travel owing to serene winter destinations in Canada and glittering white Caribbean beaches and private luxury resorts in Mexico. The luxury travelers are attracted to Mexico due to its established and highly exclusive resorts like Four Seasons and St. Regis in Punta Mita and high-end resorts in Los Cabos. Luxury travel is also expected to see vigorous growth across North America due to increasing income trends, strong dollar, and growing middle class segment. Thus, above mentioned factors are likely to support the North America luxury travel market during forecast period.

The players operating in the global luxury travel market have adopted various developmental strategies to expand their market share, increase profitability, and remain competitive in the market. The key players profiled in this report include Abercrombie & Kent USA, LLC, Cox & Kings Ltd, Travcoa, Micato Safaris, Ker & Downey, Tauck, Thomas Cook Group PLC, Scott Dunn Ltd., Kensington Tours, Butterfield & Robinson Inc., TUI Group, Zicasso, Inc., Black Tomato, Backroads, Lindblad Expeditions and Exodus travels.

Key Benefits For Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the luxury travel market analysis from 2021 to 2031 to identify the prevailing luxury travel market opportunities.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the luxury travel market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global luxury travel market trends, key players, market segments, application areas, and market growth strategies.

  Luxury Travel Market Report Highlights

Analyst Review

The global luxury travel market is anticipated to witness robust growth in regions such as Asia-Pacific and LAMEA. The growth in the number of HNI’s global population and easy availability of on-arrival visa propel the growth of the overall luxury travel market.

According to industry experts, French, Germans, Spaniards, and Australians opt for adventure and safari trips. In addition, Russian travelers opt for places like Goa in India, where they can relax and enjoy the tropical weather as they spend most of their time in a cold region. Culinary tours are also witnessing significant growth in the travel market. There is an increase in the number of private and culinary trips in Europe, owing to growth in interest of people in local culture and their aspiration to have a better understanding of local cuisines and people.

Countries such as China and India have huge growth potential and are the major investment pockets in the luxury travel market. Affluent Arabs prefer to spend their holidays in the most luxurious way like visiting London and splurging on high-end shopping. In addition, they opt for destinations, where they can spend huge amount on shopping. Affluent Chinese millennial travelers prefer to have quality travel experience, thus they opt for high-end accommodation and luxurious ways of traveling, thus propelling the growth of the overall luxury travel market. Key market players are adopting various growth strategies such as product launch (tour packages) and acquisition to sustain in the competitive market.

• Outdoor Adventures
• Leisure Activities
• Outdoor Activities

The global luxury travel market size was valued at $638,206.8 million in 2021, and is estimated to reach $1,650,447.7 million by 2031.

8.9% is the CAGR of luxury travel market.

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2021 is the base year calculated in the luxury travel market report.

Abercrombie & Kent USA, LLC, Cox & Kings Ltd, Travcoa, Micato Safaris, Ker & Downey, Tauck and Thomas Cook Group PLC are some of the top companies in the luxury travel market report.

The luxury travel market is segmented into types of tour, age group, types of travellers and region.

The inclination of people toward unique and exotic holiday experiences, increase in the middle- & upper-class disposable income & related expenditure, and growth in need and interest of people to spend more time with family are the latest trends in the luxury travel market.

Europe region holds the maximum market share of the luxury travel market.

Outbreak of COVID-19 was negatively impacted the growth of the luxury travel market in 2020.

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Luxury Travel Market

Global Opportunity Analysis and Industry Forecast, 2021-2031

• Transportation and Logistics

Luxury Travel Market

Luxury travel market report by type of tour (customized and private vacation, adventure and safari, cruise and ship expedition, small group journey, celebration and special event, culinary travel and shopping), age group (millennial (21-30), generation x (31-40), baby boomers (41-60), silver hair (60 and above)), type of traveller (absolute luxury, aspiring luxury, accessible luxury), and region 2024-2032.

• Report Description
• Table of Contents
• Methodology
• Request Sample

Market Overview:

The global luxury travel market size reached US$ 2,143.5 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 3,088.0 Billion by 2032, exhibiting a growth rate (CAGR) of 4% during 2024-2032.  The rising demand for exclusive and personalized travel experiences, expanding high-net-worth individual (HNWI) population seeking luxury travel options, and increasing focus on wellness and sustainability in luxury travel offerings are some of the major factors propelling the market.

Luxury travel represents a premium and exclusive segment of the tourism industry that caters to discerning travelers seeking exceptional and opulent experiences. It goes beyond basic amenities and comfort, offering personalized services, exquisite accommodations, gourmet dining, and unique, immersive activities. Luxury travel often includes stays in luxurious hotels, private villas, or upscale resorts in picturesque destinations. Travelers can indulge in spa treatments, fine dining at Michelin-starred restaurants, private yacht charters, and cultural excursions tailored to their interests. Luxury travel is characterized by a focus on exclusivity, attention to detail, and a commitment to delivering the utmost in comfort and satisfaction, making it a sought-after choice for those seeking the pinnacle of travel experiences.

The increasing affluence of high-net-worth individuals (HNWIs) and affluent consumers around the world that expands the clientele seeking exclusive and opulent travel experiences, will stimulate the growth of the luxury travel market during the forecast period. These travelers seek to indulge in lavish accommodations, personalized services, and unique adventures. Moreover, the rising desire for experiential and transformative travel is propelling the luxury market, as travelers prioritize immersive cultural experiences, wellness retreats, and eco-conscious journeys. Apart from this, the enhanced convenience and accessibility of private jet and yacht charters has augmented the appeal of luxury travel, offering exclusivity and flexibility, thereby driving the market growth. Furthermore, the rise of remote working and digital nomadism that enables travelers to explore luxury destinations while maintaining their professional lives, contributing to the growth of extended-stay luxury experiences.

Luxury Travel Market Trends/Drivers:

Growing affluence of high-net-worth individuals (HNAWIs)

The increasing affluence of high-net-worth individuals (HNWIs) and affluent consumers is a primary driving force behind the luxury travel market's expansion. As economies grow and prosperity spreads globally, more individuals are gaining access to higher disposable incomes, enabling them to indulge in luxury travel experiences. This demographic seeks exclusivity, comfort, and premium services when exploring the world. They are willing to invest in opulent accommodations, private transportation, and curated itineraries that cater to their preferences. The luxury travel industry capitalizes on this trend by continuously innovating and offering top-notch services to meet the discerning tastes of affluent travelers. This growing affluence fuels demand for luxury travel and encourages the development of new destinations and experiences that cater to the evolving desires of this segment.

Rising desire for unique experiences

Luxury travelers today are not satisfied with mere comfort; they seek meaningful and distinctive experiences that set their journeys apart. This driver has led to the rise of experiential luxury travel, where travelers immerse themselves in local cultures, traditions, and landscapes. They opt for bespoke itineraries that cater to their interests, from culinary adventures and private art tours to wildlife safaris and wellness retreats. The desire for unique experiences has given rise to a trend where luxury travel becomes a form of self-expression, allowing travelers to collect memories and stories that differentiate them from conventional tourists. The luxury travel industry responds by providing exclusive access to hidden gems, private guides, and off-the-beaten-path adventures, ensuring that each journey is a one-of-a-kind experience tailored to individual preferences.

Increasing sustainability and wellness consciousness

Sustainability and wellness have emerged as crucial drivers in the luxury travel market. As travelers become more socially and environmentally conscious, they seek accommodations and experiences that align with their values. Luxury travelers now expect eco-friendly practices, responsible tourism, and sustainable accommodations, which include everything from eco-lodges in remote natural settings to sustainable cruises that minimize environmental impact. Additionally, the wellness aspect of luxury travel emphasizes physical and mental well-being, with travelers seeking spas, fitness centers, meditation retreats, and nutrition-focused experiences during their trips. The luxury travel industry recognizes these trends and is incorporating sustainable and wellness-focused offerings into its portfolio, ensuring that travelers can enjoy guilt-free luxury experiences that promote both personal well-being and environmental responsibility. This shift is an ethical choice and a competitive advantage for luxury travel providers, as it meets the evolving preferences of a socially conscious and health-focused clientele.

Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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Luxury Travel Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global luxury travel market report, along with forecasts at the global, regional and country levels from 2024-2032. Our report has categorized the market based on type of tour, age group, and type of traveller.

Breakup by Type of Tour:

• Customized and Private Vacation
• Adventure and Safari
• Cruise and Ship Expedition
• Small Group Journey
• Celebration and Special Event
• Culinary Travel and Shopping  

Adventure and safari hold the largest market share

The report has provided a detailed breakup and analysis of the market based on the type of tour. This includes customized and private vacation, adventure and safari, cruise and ship expedition, small group journey, celebration and special event, and culinary travel and shopping. According to the report, adventure and safari represented the largest segment.

Adventure and safari experiences are key drivers in the luxury travel market, attracting travelers seeking unique and exhilarating journeys. Adventure travel offers activities such as trekking, mountain climbing, scuba diving, and wildlife encounters in remote and often challenging environments. Safari adventures, on the other hand, focus on wildlife observation in natural habitats, with opportunities to see iconic species like lions, elephants, and rhinos. These experiences drive the luxury travel market by offering exclusivity and personalized adventures that cater to the desires of affluent travelers.

Furthermore, luxury adventure and safari providers offer private guided tours, high-end accommodations in pristine locations, and customized itineraries that combine adventure with comfort. They ensure travelers can enjoy thrilling experiences while maintaining the highest standards of safety and comfort. Moreover, the demand for sustainability in adventure and safari experiences is rising, with eco-friendly practices and conservation efforts playing a significant role, attracting travelers who value responsible and immersive encounters with nature.

Breakup by Age Group:

• Millennial (21-30)
• Generation X (31-40)
• Baby Boomers (41-60)
• Silver Hair (60 and above)  

Baby boomers (41-60) represents the leading age group segment

A detailed breakup and analysis of the market based on the age group has also been provided in the report. This includes millennial (21-30), generation X (31-40), baby boomers (41-60), and silver hair (60 and above). According to the report, baby boomers (41-60) accounted for the largest market share.

Baby boomers, typically aged between 41 and 60, represent a generation known for its significant impact on various industries, including luxury travel. This demographic is characterized by its strong work ethic, higher disposable income, and a desire for fulfilling experiences during their retirement years. Baby boomers are fueling the luxury travel market by seeking personalized and experiential journeys that cater to their interests and preferences. They value comfort, quality, and authenticity, often opting for upscale accommodations, premium cruise experiences, and immersive cultural encounters. Many baby boomers are avid travelers, using their retirement years to explore the world and fulfill their travel bucket lists. Their influence extends to the rise of wellness-focused luxury travel, as they prioritize health and well-being in their journeys.

Moreover, baby boomers are early adopters of travel technology, embracing digital tools for booking, research, and staying connected while on the road. Their significant presence in the luxury travel market continues to shape the industry, catalyzing the demand for tailored, high-end experiences that align with their desires for exploration and relaxation in their golden years.

Breakup by Type of Traveller:

• Absolute Luxury
• Aspiring Luxury
• Accessible Luxury  

Absolute luxury is the most popular type of traveler

A detailed breakup and analysis of the market based on the type of traveler has also been provided in the report. This includes absolute, aspiring and accessible luxury. According to the report, absolute luxury accounted for the largest market share.

The absolute luxury traveler is characterized by an unwavering pursuit of the finest experiences and the highest level of exclusivity. These travelers seek unparalleled opulence, from stays in ultra-luxurious accommodations like private villas on secluded islands or boutique hotels in historic city centers to bespoke itineraries that include private yacht charters, exclusive access to cultural events, and Michelin-starred dining experiences.

Moreover, absolute luxury travelers are the trendsetters and taste-makers in the luxury travel industry, fueling demand for innovation and pushing the boundaries of what constitutes a lavish travel experience. Their influence extends to the development of new, extraordinary destinations and the creation of entirely customized journeys that cater to their unique preferences. Their commitment to luxury and their willingness to invest in once-in-a-lifetime adventures shape the luxury travel market by inspiring providers to continuously elevate their offerings, ensuring that the absolute luxury traveler's appetite for the extraordinary is consistently met.

Breakup by Region:

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United States

• South Korea

United Kingdom

• Middle East and Africa  

Europe exhibits a clear dominance in the market

The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Europe accounted for the largest market share.

Europe held the biggest share in the market since the region is home to an array of iconic and culturally rich destinations, from the historical cities of Rome, Paris, and Prague to the scenic beauty of the Swiss Alps and the Mediterranean coast, offering a diverse range of luxury experiences. Apart from this, Europe boasts a long history of luxury hospitality, with its heritage luxury hotels and boutique properties, providing travelers with opulent accommodations and impeccable service.

Moreover, rising emphasis of the region on gastronomy and fine dining attracts luxury travelers seeking culinary excellence, with numerous Michelin-starred restaurants and local gourmet experiences. Furthermore, Europe's efficient transportation infrastructure and access to exclusive cultural events, from fashion shows to art exhibitions, enhance its appeal to luxury travelers. Additionally, Europe's commitment to sustainability and responsible tourism aligns with the values of eco-conscious luxury travelers, ensuring that the region continues to lead the way in delivering high-end, sustainable travel experiences that resonate with the evolving preferences of affluent global travelers.

Competitive Landscape:

The market is experiencing steady growth as key players are continually innovating to meet the evolving preferences of discerning travelers. Recent innovations include the integration of advanced technology to enhance the booking and travel experience, with virtual reality (VR) and augmented reality (AR) being used to provide immersive previews of accommodations and destinations. Additionally, there is a growing focus on sustainability, with luxury hotels and resorts adopting eco-friendly practices and designing carbon-neutral properties to cater to environmentally conscious travelers. Personalization remains a key trend, with luxury travel providers leveraging data analytics and artificial intelligence (AI) to curate bespoke itineraries and offer highly tailored services. Furthermore, luxury cruise lines are introducing cutting-edge amenities such as underwater lounges and sustainable ship designs. These innovations collectively aim to elevate the luxury travel experience, providing travelers with unique, sustainable, and personalized journeys that align with their values and preferences.

The market research report has provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

• Abercrombie & Kent USA LLC.
• Butterfield & Robinson Inc.
• Cox & Kings Ltd.
• Exodus Travels Limited (Travelopia)
• Kensington Tours Ltd.
• Micato Safaris
• Scott Dunn Ltd.
• Thomascook.in (Fairbridge Capital (Mauritius) Limited)

Recent Developments:

• In August 2023, Abercrombie & Kent introduced a new private jet journey to meet increased demand for wildlife experiences. This exclusive adventure is designed to captivate the hearts of discerning travelers who seek to explore the world's most breathtaking natural wonders while indulging in unparalleled luxury and comfort. This unique expedition takes travelers on a globe-spanning odyssey, whisking them away on a meticulously planned itinerary that delves deep into some of the planet's most pristine and wildlife-rich regions.
• In February 2020, Kensington Tours, a leading luxury travel company, introduced new itineraries that showcase the natural wonders and cultural richness of Iceland and Wales. These meticulously crafted journeys promise travelers unforgettable experiences in two distinct yet equally captivating destinations. The Iceland itinerary invites adventurers to explore the land of fire and ice, where dramatic landscapes meet geothermal wonders. It offers a perfect blend of outdoor exploration and relaxation in Iceland's geothermal baths.
• In February 2023, Tauck, a renowned leader in guided travel experiences, announced the expansio of its small group land departures by an impressive 35%, catering to the growing demand for intimate and immersive travel adventures. This increase in small group departures signifies Tauck's dedication to providing travelers with the chance to delve deeper into the destinations they visit.

Luxury Travel Market Report Scope:

Key benefits for stakeholders:.

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the luxury travel market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the global luxury travel market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the luxury travel industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.

Key Questions Answered in This Report

The global luxury travel market was valued at US$ 2,143.5 Billion in 2023.

We expect the global luxury travel market to exhibit a CAGR of 4% during 2024-2032.

The growing consumer inclination towards leisure activities and exotic holiday destinations is primarily driving the global luxury travel market.

The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary restrictions on intra- and inter-national travel activities, thereby negatively impacting the global market for luxury travel.

Based on the type of tour, the global luxury travel market can be categorized into customized and private vacation, adventure and safari, cruise and ship expedition, small group journey, celebration and special event, and culinary travel and shopping. Currently, adventure and safari accounts for the majority of the global market share.

Based on the age group, the global luxury travel market has been segregated into millennial (21-30), generation X (31-40), baby boomers (41-60), and silver hair (60 and above). Among these, baby boomers (41-60) currently exhibit a clear dominance in the market.

Based on the type of traveler, the global luxury travel market can be bifurcated into absolute luxury, aspiring luxury, and accessible luxury. Currently, absolute luxury holds the largest market share.

On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Europe currently dominates the global market.

Some of the major players in the global luxury travel market include Abercrombie & Kent USA LLC., Butterfield & Robinson Inc., Cox & Kings Ltd., Exodus Travels Limited (Travelopia), Kensington Tours Ltd., Micato Safaris, Scott Dunn Ltd., Tauck, Thomascook.in (Fairbridge Capital (Mauritius) Limited), and TUI Group.

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1.  Introduction              o   Introduction             o   Market Definition and Scope             o   Units, Currency, Conversions, and Years Considered             o   Key Stakeholders             o   Key Questions Answered 2.  Research Methodology              o   Introduction             o   Data Capture Sources             o   Market Size Estimation             o   Market Forecast             o   Data Triangulation             o   Assumptions and Limitations 3.  Market Outlook              o   Introduction             o   Market Dynamics                      ?   Drivers                     ?   Restraints                     ?   Opportunities                     ?   Challenges             o   Porter’s Five Forces Analysis             o   PEST Analysis 4.  Luxury Travel Market by Type, 2022-2029 (USD Billion)              o   Customized and Privet             o   Adventure and Safari             o   Cruise/Ship Expedition             o   Small Group Journey             o   Celebration and Special Events             o   Culinary Travel and Shopping 5.  Luxury Travel by Distribution Channel, 2022-2029 (USD Billion)              o   Online             o   Offline 6.  Luxury Travel by Region 2022-2029 (USD Billion)              o   North America                      ?   US                     ?   Canada                     ?   Mexico             o   Europe                      ?   Germany                     ?   France                     ?   Italy                     ?   Spain                     ?   Rest of Europ             o   Asia Pacific                      ?   China                     ?   Japan                     ?   India                     ?   Malaysia                     ?   Indonesia                     ?   Rest of Asia Pacific             o   South America                      ?   Brazil                     ?   Mexico                     ?   Argentina             o   Middle East & Africa                     ?   Saudi Arabia                     ?   UAE                     ?   Israel                     ?   South Africa 7.  Competitive Landscape              o   Company Ranking             o   Market Share Analysis             o   Strategic Initiatives                      ?   Mergers & Acquisitions                     ?   New Product Launch                     ?   Others 9.  Company Profiles              o   Fresh Origins             o   Products Portfolio             o   Recent Initiatives             o   Company Financials 10. Appendix              o   Primary Research Approach                      ?   Primary Interview Participants                     ?   Primary Interview Summary             o   Questionnaire             o   Related Reports                      ?   Published                     ?   Upcoming

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Luxury Travel Market

Luxury Travel Market Analysis by Phone Booking, Online Booking, and In Person Booking from 2024 to 2034

Introducing the Opulent Odyssey where Luxury Travel Soars, Offering Affluent Travelers Exquisite Experiences and Unforgettable Journeys.

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Luxury Travel Market Overview

Embark on a journey through the opulent realm of luxury travel , where every experience is a masterpiece crafted to indulge the senses. Future Market Insights presents an alluring forecast. In 2024, the current valuation of the market is US$ 2.26 trillion. By 2034, this market is forecasted to burgeon into a blazing inferno, with a valuation of US$ 4.24 trillion, fostering a moderate CAGR of 6.5%.

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Historical Insights into the Luxury Travel Market's Performance

The historical CAGR of the luxury travel market stands at 5.80%, reflecting steady expansion propelled by the allure of bespoke experiences and unparalleled indulgence.

From exclusive retreats to tailor-made adventures, the market has evolved to cater to the discerning tastes of affluent travelers seeking nothing short of perfection.

The forecasted CAGR of 6.50% paints a picture of continued growth and prosperity in the luxury travel sector. As consumer expectations evolve and demand for immersive, authentic experiences surges, the market is thus poised for further expansion.

With a blend of tradition and innovation, luxury travel providers are primed to unlock new vistas of luxury, captivating travelers with unforgettable journeys and elevating the art of travel to new heights of sophistication and indulgence.

Reasons to Guide the Luxury Travel Market Forward

• From private yacht cruises to immersive culinary tours, luxury travel providers elevate experiences to new heights, cater to the evolving tastes of discerning travelers, and seek authenticity and meaning in their journeys.
• As awareness of environmental and social issues grows, luxury travelers are widely seeking destinations and experiences that prioritize sustainability and responsible tourism practices.
• Luxury travel providers are embracing eco-friendly practices, from offering carbon-neutral trips to partnering with conservation organizations to meet the demand for sustainable luxury experiences.

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Key Factors Hindering the Luxury Travel Market

• Geopolitical tensions, natural disasters, and global health crises can significantly impact the luxury travel market by disrupting travel patterns, deterring affluent travelers from visiting certain destinations, and imposing travel restrictions.
• Uncertainty surrounding safety and security dampens demand for luxury travel experiences, leading to reduced bookings and revenue losses for luxury travel providers.
• Economic downturns, currency fluctuations, and market volatility can pose challenges for the luxury travel market by affecting consumer spending habits, disposable incomes, and investment portfolios.

Comparative View of Adjacent Markets

This section compares the luxury travel industry, the luxury packaging market, and the luxury hotel market . Luxury brands are recognizing the importance of environmental responsibility and are actively seeking sustainable packaging solutions for reducing their carbon footprint and minimizing waste.

Luxury hotels respond by offering curated experiences, exclusive amenities, and personalized services that go beyond traditional hospitality offerings, creating unforgettable stays for their guests.

Luxury Travel Market:

Luxury Packaging Market:

Luxury Hotel Market:

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Category-wise Insights

The below section shows the leading segment. Based on booking channel, the online booking segment is accounted to hold a market share of 46.3% in 2024. Based on tour type, the package traveler segment is accounted to hold a market share of 48.5% in 2024.

Online Booking Segment to Hold a Significant Share in the Market

Based on booking channel, the online booking segment stands out, capturing a significant market share of 46.3%. The trend reflects the boom in preference among luxury travelers for the convenience and accessibility offered by online platforms when planning and booking their upscale experiences.

From personalized itineraries to seamless transactions, online booking channels cater to the advancing needs of affluent travelers, propelling their popularity in the luxury travel market.

Package Traveler Segment to Hold a Dominant Share in the Market

Based on tour type, the package traveler segment is accounted to hold a market share of 48.5% in 2024. Packaged tours provide a hassle-free and curated experience, offering a blend of exclusive amenities, cultural immersion, and expert guidance.

As luxury travelers continue to seek curated experiences without compromising on comfort and exclusivity, the package traveler segment maintains its stronghold in the dynamic landscape of luxury travel.

Country-wise Insights

The table describes the top five countries ranked by revenue, with Australia holding the top position. Australia dominates the luxury travel market with its natural beauty, diverse landscapes, and unique experiences.

Affluent travelers indulge in luxury vacations for iconic destinations like the Great Barrier Reef and luxury eco-lodges, essaying the temptation as a premier luxury travel destination.

Forecast CAGRs from 2024 to 2034

Extensive Usage of Luxury Travels Boosts the United States Market

In the United States, the luxury travel market is predominantly utilized for a variety of purposes, including leisure travel, business travel, and special occasions such as weddings and milestone celebrations.

The United States boasts a vibrant luxury travel market catering to discerning travelers seeking unique experiences, from luxury wilderness retreats in national parks to opulent urban escapes in cosmopolitan cities like New York and Los Angeles.

Extensive Usage of Luxury Travel Services Booms the Market in Germany

In Germany, the luxury travel market is utilized by affluent travelers seeking refined and sophisticated travel experiences both domestically and internationally. German travelers often indulge in luxury vacations to iconic destinations such as the French Riviera, the Italian countryside, or exotic tropical islands.

The affluent business community often utilizes luxury travel services for corporate events, incentive trips, and executive retreats, reflecting the demand for exclusive and tailored travel experiences.

Luxury Travelers Rising in Popularity is Ensuring Market Growth in China

In China, the luxury travel market is primarily utilized by affluent travelers seeking prestigious and extravagant travel experiences both domestically and abroad. Luxury travelers often seek high-end accommodations, private tours, and VIP services that showcase luxury and exclusivity.

Luxury travel services are frequently utilized by the business elites of China for corporate meetings, luxury events, and incentive travel programs, reflecting the country's growing affluence and sophistication in luxury travel preferences.

Burgeoning Middle Class Raise the Demand for Luxury Travels in India

Rising affluence, a burgeoning middle class, and a desire for unique experiences fuel the luxury travel market in India.

Affluent Indian travelers are seeking personalized and immersive experiences both domestically and internationally, driving demand for luxury accommodations, boutique hotels, and experiential stays.

Presence of Pristine Destinations Impresses the Luxury Travel Market in Australia

In Australia, the luxury travel market is utilized by affluent travelers seeking unique and exclusive travel experiences that showcase the natural beauty and cultural heritage of the country.

Luxury travel experiences in Australia often emphasize outdoor adventures, wildlife encounters, and luxury eco-lodges that offer sustainable and immersive experiences in nature.

Luxury travel services are utilized by business elites of Australia for corporate retreats, luxury events, and incentive travel programs, reflecting the affluent and adventurous travel preferences of the country.

Competitive Landscape

In the competitive landscape of the luxury travel market, a blend of established players and boutique providers vie for affluent travelers' attention. Boutique operators specializing in niche segments like adventure travel or wellness retreats carve out their niche.

Differentiation through unique experiences, personalized service, and exclusive access to hidden gems defines success in this dynamic and discerning market. Some of the key developments are:

• In June 2023, Lindblad Expeditions partnered with FOOD & WINE magazine to disclose an enticing eight-day voyage through the Pacific Northwest, tracing the Columbia and Snake Rivers.
• In February 2023, Australia-based Flight Centre Travel Group acquired Scott Dunn Ltd. for approximately US$ 149 million. This strategic move marked Flight Centre's foray into the luxury travel market in the United Kingdom and the United States, which curated a portfolio of premier luxury travel brands across global markets.

Key Coverage in the Luxury Travel Industry Report

• Adjacent Study on Luxury Travel Market, Luxury Tourism Market
• European Luxury Tourism Market
• Luxury Travel Market Size, Current Insights, and Demographic Trends
• United States Luxury Travel Market
• Key Opportunities of the Global Luxury Travel Market

Report Scope

Key segments, by mode of transportation type:.

• Air Transportation
• Water Transportation
• Land Transportation

By Booking Channel:

• Phone Booking
• Online Booking
• In Person Booking

By Tour Type:

• Independent Traveller
• Package Traveller

By Consumer Orientation:

By age group:.

• 15-25 Years
• 26-35 Years
• 36-45 Years
• 46-55 Years
• 56-65 Years
• 66-75 Years
• North America
• Latin America
• Western Europe
• Eastern Europe
• South Asia and Pacific
• The Middle East and Africa

Frequently Asked Questions

What is the expected worth of the luxury travel market in 2024.

As of 2024, the market for luxury travel is expected to be valued at US$ 2.26 trillion.

What is the market potential for luxury travel?

The luxury travel market is projected to expand at a CAGR of 6.5% from 2024 and 2034.

Which booking channel segment dominates the luxury travel market?

The online booking segment is projected to dominate the industry.

What is the anticipated market value for luxury travel in 2034?

By 2034, the market value of the luxury travel is expected to reach US$ 4.24 trillion.

Which country is likely to dominate the luxury travel market?

Australia is likely the top-performing market, with a CAGR of 8.1%.

Table of Content

List of tables, list of charts.

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These Destinations From Italy to Antarctica Will Be Major in 2024, According to a New Report

Here's what to expect in luxury travel for 2024.

Elizabeth Rhodes/Travel + Leisure

The global luxury experts at Virtuoso surveyed its travel agency members and advisors spanning 50 countries to help predict what the next year holds for our adventures. And if their findings prove correct, 2024 will be all about fulfilling our biggest travel aspirations .  

According to the 2024 Virtuoso Luxe Report, advisors are forecasting that travelers will be more interested in visiting far-flung destinations and having once-in-a-lifetime experiences than ever before. In the report, shared with Travel + Leisure , the team identified five key trends: New Frontiers, which highlights travelers' desire to reach new destinations outside the well-traveled path; The Party Continues, which showcases people's wish to travel with family and their closest friends; Honoring the Earth, pointing toward travelers' love for eco-conscious destinations; Small Ships, Big Possibilities, which forecasts a big year for small-vessel cruising; and At Ease, which also shows a popular year ahead for "exclusive-use experiences," like private jets , yachts , and villas . 

However, there is one tried and true favorite destination the team at Virtuoso says will remain at the top of everyone's travel list: Italy . 

“Perennially popular, Italy remains the global favorite destination, whether for families or honeymooners,” the report stated, adding that Portugal and Croatia will also remain popular go-to spots in 2024. 

Also listed as a reemerging destination in 2024 is Japan, which Virtuoso noted is specifically high on travelers’ must-see lists for “its refined culture and in-demand cuisine.” Virtuoso also noted that Antarctica, about as far-flung and luxurious a destination as it gets, will also make a major resurgence in the coming year. In fact, the company listed Antarctica as the number one adventure destination for 2024.

As for the must-see cities of 2024, Paris tops the list thanks to it playing host to the Olympics, followed by the forever favorites Rome, Barcelona, Florence, and London rounding out the top five. 

And, perhaps unsurprising but still a good reminder, Virtuoso noted the top five forecasted reasons to travel in 2024: Excitement of discovering something new, celebrating a milestone, experiencing something on our must-see list, spending time with loved ones, and the all-important “rest and relaxation.” Even if we get to check one of those boxes in 2024, we’ll all be happy travelers indeed. 

Luxury Travel Market

Luxury travel market size, share & trends analysis report by type of tour (cruise/ship expedition, adventure & safari, celebration & special events, customized & private vacations, culinary travel & shopping, business tours, small group journey), by age group (millennial (21–30), generation x (31–40), baby boomers (41–60), silver hair (60 and above)), by type of traveller (absolute luxury, aspiring luxury, accessible luxury), booking channel (phone booking, online booking, in booking), by tourist type (domestic, international), by tour type (independent traveller, package traveller, tour group), by consumer orientation (men, women) and by region(north america, europe, apac, middle east and africa, latam) forecasts, 2024-2032.

Market Dynamics

Regional analysis, report scope, segmental analysis, top key players.

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• Segmentation

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Market overview.

The luxury travel industry has been growing at an unprecedented rate in the last few years on account of increasing spending power, growing middle-class population, debouching luxury trends, and expanding luxury hotels. Recently, Marriott International announced to expand its luxury footprint across Asia-Pacific by establishing nearly 100 new luxury hotels in the coming years. As recorded by UNWTO, international tourism arrivals grew by 7% in 2017, which are about 1,322 million arrivals.  In 2019, Virtuoso, Ltd registered a 12% growth in the total sales, which was over USD 23 billion, up from USD 12.5 billion in 2013. 

Rising Internet Access and Competitive Travel Packages to Drive the Market Growth

Rising internet access is subsequently driving online research in terms of luxury holiday planning. In line with this, the leading players are offering exclusive deals at competitive prices to gain a competitive edge. As per the Travel and Tourism Statistic, around 83% of people use the internet for luxury travel planning, whereas 40% of people prefer travel agencies for luxury travel planning.

As per the data published by Our World in Data Organization, the number of internet users increased from 413 million in 2000 to over 3.4 billion in 2016. The online marketing strategy and strong internet presence of travel agencies such as TripAdvisor, Zoover, and Black Tomato Group drive the market growth. For instance, in 2018, eDreams Odigeo, a leading European e-commerce travel company, attended to over 18.5 million customer's travel needs.

The luxury travel market's most prominent driver is the burgeoning spending power across the globe. As per the Investopedia, around 22.8 million people fall under the high net worth income category and contribute over 30% to the global annual spending on travel. Apart from this, shifting preference towards sustainable traveling drives the market growth.

Increasing Number of Solo Travelers Drive the Market Growth

Travelers around the world are exploring ways to de-stress and restore mental health. In line with this, cruise lines are offering wellness luxury travel packages with restorative spa experiences, healthy menu choices, onboard oxygen bars, and the latest fitness equipment. Experiential traveling and access to new destinations and places by cruise drive the luxury travel market. An increasing number of solo travelers and female-centered cruises provide an impetus to the market growth

Germany: An Ideal International Luxury Travel Destination

Europe's tourism market witnessed an 8% growth in 2017. Germany, France, and Spain are at the forefront of the regional luxury travel market due to its rich cultural heritage. Germany has been witnessing a significant hike in tourism from international and domestic traveler's, further driving the market growth. As stated by the Internationale Tourismus-Börse (ITB), around 3.6 million luxury travel trips are taken by the British. Germany is considered a cultural travel destination and a suitable destination for international trade fairs across the globe. The country also secures the top position as a destination for international luxury travel in Europe by the German National Tourist Board. South East Asian countries such as Thailand, Malaysia, Singapore, and Indonesia are countries showing great potential to drive the luxury market in the European region, as there were 2.1 million trips being generated by these main markets to Europe in 2016. The below info graph depicts the global international arrivals in 2030 estimated by the United Nations World Tourism Organization.

Luxury travel is booming in the Asia-Pacific region due to its rich cultural heritage and developed adventure activities. According to United Nations World Tourism Organization (UNWTO), Asia-Pacific is the world’s fastest-growing regional tourist destination since 2005. The number of international tourists arrivals grew by 6% in 2017 to reach 323 million, which is above the world average of 4%. Traditional Asian beach hotspots like Thailand, Bali and the Maldives are gaining traction than ever before owing to the strong presence of world-class hotels and the best of cuisine. Among the Asia-Pacific region, China has emerged as the growing market for luxury travel in recent years, and also a top spender in international tourism. The region witnessed a spur in business tours cause of strong industrialization and favorable FDI policies, further boosting the luxury travel market sector.

Wellness luxury travel is a significant factor in driving market growth in the Asian region. According to the Global Wellness Institute, Asia-Pacific is the fastest-growing wellness tourism market and is expected to double from 2017-2020, from USD 137 billion to USD 252 billion. In the midst of the growth, Asia-Pacific recorded over 250 million wellness trips annually, backed by changing lifestyle and spending behaviors.

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Millennial's Contribute to Over 20% of the International Tourists

By age group, the millennial (21–30) segment holds the largest market share. The millennial and generation X are reshaping the luxury travel industry due to social media influence. Around 72% of millennials prefer spending money on experiences than material objects and account for over 20% of all international tourists. Scott Dun, a leading luxury traveling company, has been witnessing significant growth in the last few years. 

Adventure & Safari Segment to Grow at an Exponential Rate in the Luxury Travel Market

The adventure and safari segment is projected to grow at an exponential rate during the forecast period on account of rising demand for nature-based holidays. The high-income travelers are inclining towards unique personalized vacations such as educational tours, adventure & safari, and cruise/ship expedition. As per Skift, a travel industry media company, the cruising sector experienced a 7% growth in 2018. Today, activities such as mountain climbing, jungle safaris, and sky diving are witnessing huge popularity among the traveler’s. As per the Adventure Travel Trade Association (ATTA), the adventure travel market was valued at USD 683 billion in 2018 and is projected to double in the coming years. 

Market Size By Type of Tour

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Global Luxury Travel Market by Type (Customized and Private Vacation, Adventure and Safari, Cruise/Ship Expedition, Small Group Journey, Celebration and Special Event, Others, The Customized and Private Vacation type occupies the largest market share segment and enjoys the fastest growth, Luxury Trave), By Application (Millennial, Generation X, Baby Boomers, Generation X is the most widely used area, accounting for 47% of all applications, while Millennial is growing) And By Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

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The global luxury travel market is expected to grow at a CAGR of 6.2% from 2021 to 2030. The customized and private vacation type occupies the largest market share segment and enjoys the fastest growth, with a CAGR of 7.5%. Generation X is the most widely used area, accounting for 47% of all applications, while Millennial is growing at a CAGR of 8%. North America leads in terms of revenue generation with an estimated $1 billion in 2020.

Some Of The Growth Factors Of This Market:

• The global economy is recovering and the luxury travel market is expected to grow as a result.
• The number of millionaires in the world has increased by 10% since 2008, which means more people are able to afford luxury travel.
• Luxury hotels are opening up in emerging markets such as China and India, which will increase demand for luxury travel services from these countries.
• There has been an increase in the number of wealthy individuals who want to invest their money into experiences rather than material goods, which will lead to an increase in demand for luxury travel services.
• The rise of social media has led to a greater awareness of luxurious destinations and experiences, which will lead to an increased demand for these types of trips.

Industry Growth Insights published a new data on “Luxury Travel Market”. The research report is titled “ Luxury Travel Market research by Types (Customized and Private Vacation, Adventure and Safari, Cruise/Ship Expedition, Small Group Journey, Celebration and Special Event, Others, The Customized and Private Vacation type occupies the largest market share segment and enjoys the fastest growth, Luxury Trave), By Applications (Millennial, Generation X, Baby Boomers, Generation X is the most widely used area, accounting for 47% of all applications, while Millennial is growing), By Players/Companies 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, Luxury Trave ”.

Scope Of The Report

Global luxury travel market report segments:.

The global Luxury Travel market is segmented on the basis of:

Customized and Private Vacation, Adventure and Safari, Cruise/Ship Expedition, Small Group Journey, Celebration and Special Event, Others, The Customized and Private Vacation type occupies the largest market share segment and enjoys the fastest growth, Luxury Trave

The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.

Applications

Millennial, Generation X, Baby Boomers, Generation X is the most widely used area, accounting for 47% of all applications, while Millennial is growing

The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.

Some of the companies that are profiled in this report are:

• Thomas Cook Group
• Jet2 Holidays
• Cox & Kings Ltd
• Lindblad Expeditions
• Abercrombie & Kent Ltd
• Micato Safaris
• Exodus Travels
• Butterfield & Robinson

Luxury Trave

Highlights of the luxury travel market report:.

• The market structure and projections for the coming years.
• Drivers, restraints, opportunities, and current trends of market.
• Historical data and forecast.
• Estimations for the forecast period 2030.
• Developments and trends in the market.

Customized and Private Vacation

Adventure and safari, cruise/ship expedition, small group journey, celebration and special event, the customized and private vacation type occupies the largest market share segment and enjoys the fastest growth.

• By Application:

Generation X

Baby boomers, generation x is the most widely used area, accounting for 47% of all applications, while millennial is growing.

• Market scenario by region, sub-region, and country.
• Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
• Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
• Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Luxury Travel Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.

Regional Analysis

• North America
• Asia Pacific
• Middle East & Africa
• Latin America

Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.

The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.

How you may use our products:

• Correctly Positioning New Products
• Market Entry Strategies
• Business Expansion Strategies
• Consumer Insights
• Understanding Competition Scenario
• Product & Brand Management
• Channel & Customer Management
• Identifying Appropriate Advertising Appeals

8 Reasons to Buy This Report

• Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
• Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
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• Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
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• In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
• Customization of the Report Available

Frequently Asked Questions?

Luxury travel is a type of travel that typically involves high-quality accommodations, fine dining, and other amenities. It can also include unique experiences such as safaris or spa treatments.

Some of the major companies in the luxury travel market are 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, Luxury Trave.

The luxury travel market is expected to register a CAGR of 6.2%.

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• Luxury Hotel Industry Sta...

Luxury Hotel Industry Statistics | Luxury Hotel Market Share + More

Last updated on Jun 27, 2022

Are you interested in finding out how the global luxury hotel market is performing in 2022, and how these statistics affect which luxury hotels will still be in the game in years to come? The truth is, in just a few years’ time, there could be a whole new set of accommodation offers on the market. 

If you’re interested in finding out about luxury hotel market trends, then you’ve come to the right place. These are some of the juiciest stats about luxury hotels, business hotels, and airport hotels that will affect the competitive landscape of the hotel segment for years to come. 

Luxury Hotel Industry Growth

To project numbers into the future, we have to look at just how much the luxury hotel industry has been growing over the past couple of years. These are some of the most interesting stats about the luxury hotel industry. 

Luxury Hotel Market Size 

In 2020, the luxury hotel industry size was sitting at $197680 million globally. This may seem like an incredibly large number, but it’s nowhere near the projected growth over the next couple of years. By 2027, the industry is predicted to be worth a whopping $259510 million. 

This means that the industry is expecting a  compound annual growth rate  of 4.0% between the years 2020 and 2027. If these predictions are correct, the market growth will make the luxury hotel industry a great place to invest your money, or your time. It also means that many of the most popular luxury hotels operating today will still be around in years to come. Check out some of the  most expensive hotels  in the world for an idea of where you should be staying on your next vacation. 

LUXURY TRAVEL MARKET ANALYSIS

Luxury travel market, by category (adventure & safari, cruise, rail journey, culinary travelling & shopping, customized & private vacations, and celebration), by age group (millennials, generation x, baby boomers, and silver hair), by type (domestic and international), and by region (north america, latin america, asia pacific, europe, and middle east &africa).

• Published In : Mar 2023
• Code : CMI2452
• Pages : 160
• Formats :   Excel and PDF
• Industry : Consumer Goods

Global luxury travel market was valued at US$ 241.4 Billion in 2022, and is expected to exhibit a CAGR of 7.80 % in terms of revenue, over the forecast period (2023-2030), to reach US$ 440.4 Billion by 2030.

Global luxury travel market is expected to witness significant growth over the forecast period, owing to increasing number of travellers worldwide. According to the World  Travel  and Tourism Council, 2022, the worldwide investment on luxury travel and tourism is estimated to reach US$ 6,605.3 billion by 2028.

Global Luxury Travel Market- Drivers

Increasing disposable income

Increasing disposable income especially in emerging economy such as India is expected to drive the global luxury travel market growth during the forecast period. According to the Organization for Economic Cooperation and Development,in 2022, the global middle class populace is projected to increase from 1.8 billion in 2009 to 4.9 billion by 2030. Consumer spending on travel across India amounted to over U.S. $ 0.27 trillion  in the end of fourth quarter of 2022.

Increasing adoption of digital technology, use of internet, and high presence of people on social media platforms

Increasing adoption of digital technology is expected to boost growth of the market. Increasing use of internet and high presence of people on social media platforms also aids the market growth. Market players are focusing on capitalizing the social media presence to expand their consumer base and to strengthen consumer relation. Usage of internet allows consumer to compare brands, and offers several choices. Moreover, user-generated travel content is more influential over conventional advertising. Increasing appeal for travel storytelling, owing to platforms such as Instagram and various blogging sites is also expected to drive the market growth.

Therefore, increasing use of internet and social platforms contributes to growth of the global luxury travel market during the forecast period. For instance, according to the India Brand Equity Foundation (IBEF), in November 2022, India has experienced a boom in internet and smartphone penetration in the recent years. Driven by the ‘Digital India’ programme, the number of internet connections in India in 2021 increased significantly to 830 million. Out of the total internet connections, ~55% of connections were in urban areas, of which 97% of connections were wireless. The smartphone base has also increased significantly, and is expected to reach 1 billion by 2026.  All this factors helped India’s digital sector, and it is expected to reach US$ 1 trillion by 2030.

Global Luxury Travel Market- Restraint

High cost and less autonomy

Luxury vacations on  foreign land, the reality of luxury is very expensive, and is out of budget for middle class people. Most of tour companies have a pre-existing set of options to choose from while travelling such as from shore excursions to menu plans.  This can be tiresome to a traveller who is accustomed to create their own itinerary. By reducing the cost and autonomy can counterbalance this restraint.

Global Luxury Travel Market- Impact of Coronavirus (Covid-19) Pandemic

Rising tourism  leads to increase in costs as businesses get back on their feet. The pandemic was a had a negative impact on tourism. Travel and accommodation services are the two most important expenditures incurred by a traveller.

Moreover, costs of COVID-19 tests and travel insurance was also added to a tourist’s expenses. Meanwhile, the steady rise in oil prices has a significant impact on the cost of travel. Flight costs, accommodation prices, and other related expenses directly or indirectly affect edoil price rise. Therefore, airfares, accommodation costs, oil, insurance, and COVID-19 tests are the common parameters to get an estimated cost of domestic or international travel.

Global Luxury Travel Market- Segmentation

Global luxury travel market is segmented by category, by age group, by type, and by region. By Category, the market is segmented into adventure & safari, cruise, rail journey, culinary travelling & shopping, customized & private vacations, and celebration. By Type, the market is segmented into domestic and international. By Age Group, the market is segmented into millennials, Wrong market name.generation x, baby boomers, and silver hair. By Region, the global luxury travel  market analysis conducted across North America, Latin America, Asia Pacific, Europe, and Middle East and Africa.

Figure 1. Global Luxury Travel Market Share, By Region, 2022

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Europe region accounted for largest market share of 35% in global luxury travel market in 2022. North America held a dominant position in the luxury travel market in 2022, owing to increasing number of millionaires in the region followed by Asia Pacific, Middle East, Latin America, and Africa.

Luxury Travel Market Report Coverage

Figure 2. Global Luxury Travel Market Share, By Age Group, 2022

Among age group, baby boomers segment held a dominant position in global luxury travel market in 2022, and millennials segment is expected to record a significant growth during the forecast period. For instance, the older millennials (aging 25-35) are currently entering in their peak earning years, and earning more affluence at unprecedented rates. Therefore, increasing preference of baby boomers and millennials for luxury travel is expected to boost growth of the market. Moreover, millennials are expected to surpass baby boomers as the large living adult generation in the U.S.

Global Luxury Travel Market- Recent Development

On February 8, 2023, Abercrombie & Kent , launched 2024-25 Expedition Cruise Portfolio, New voyages, for remote destinations including the North Pole, Saudi Arabia, and the Solomon Islands, as well as added departures to perennial favourites Japan and Greece.

On December 22, 2022, A&K Travel Group Ltd., a global lifestyle and travel company that owns Abercrombie & Kent, Crystal Cruises, and Cox & Kings, announced an equity partnership with Santiago Dunn and his company, Ecoventura, a leader in sustainable travel in the Galapagos Islands. This  partnership foresees an equity investment in Ecoventura as well as the creation of a joint venture, headed by Santiago Dunn in his new role as CEO of A&K South America.

On February 1, 2023, Crystal Cruises , a U.S.-based cruise line  relaunched under a reimagined name and vision: Crystal– Exceptional at Sea. This new era for Crystal begins with an innovative website and branding under the guardianship of the A&K Travel Group.

On October 4, 2023, Abercrombie & Kent (A&K), the multi-award-winning luxury travel company, announced the  inauguration of four new Destination Management Companies (DMCs) in Colombia, Namibia, Saudi Arabia, and Canada.

Global Luxury Travel Market- Major Players

Major players operating in the global luxury travel market include Abercrombie & Kent USA, Absolute Travel, Inspiring Travel Company, TCS World Travel, TÜ ELITE, Cox & Kings Ltd., Travcoa, Micato Safaris, Scott Dunn Ltd., Kensington Tours Ltd., and Butterfield & Robinson Inc.

Market Definition:

The term luxury travel denotes travelling with a great deal of comfort and quality, without any stress or hassle whatsoever. It involves an elevated travel experience with minimum vexation and maximum amenities. Luxury travelers are specific about the things they want in order to have an enriching experience during the course of their vacation. Exclusive cabin class and extravagant hotels are one of the primary things they look for.   

Frequently Asked Questions

What are the growth estimates for global luxury travel market till 2030?

Which are the prominent market players across the globe, which segment based on age group, accounted for the highest demand in the market, what are the key factors driving growth of the market, what is the compound annual growth rate (cagr) of the market for 2023-2030, which region held the largest market share in the market.

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Press Release

Luxury Travel Market To Surpass US$ 440.4 Bn By 2030

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2023 OutThere Luxury Travel Insights

A year outthere 2023: luxury and experiential travel insights.

We’re OutThere

Each year at OutThere, we compile an annual luxury travel insights report that helps both our editorial and commercial teams plan out content and partnerships for the year ahead. It provides valuable predictions from data collected from our most engaged OutThere travellers about their travel behaviour, decision-making and spending habits in the luxury and experiential travel space. Over the last few years, we have released the findings to our partners who have found them incredibly useful. We’re pleased to be able to do so again this year. 

Since the pandemic began in 2020, the landscape of travel has been highly changeable, causing OutThere travellers to act in ways that we had never seen before. We are all more than aware of the post-pandemic-driven industry trends; and we have even found that in some cases, longer-term forecasts were accelerated… while there is some evidence of levelling out and a return to pre-pandemic conditions, it seems travellers have gotten used to being impulsive and have become far more discerning… savvy even, playing the demand-side swing to their advantage. As such, patterns of behaviour – on the whole – remain somewhat unpredictable.

And even as we steadily emerge from pandemic times, we’re more than aware that travellers will face new and uncertain factors impacting their travel: economic and cost-of-living / cost-of-travel challenges (and with that price elasticity and rapid changes in demand), a war in Europe, enduring Covid ‘PTSD’ and even restrictions, among other ‘anxieties’ that may impact the way they book and travel.

Thus, this year’s report will focus on the macro-factors around luxury and experiential travel: the ‘why’ and ‘how’ we will travel this year and beyond, rather than just the ‘where to’ and ‘with whom’ that we’ve focused on in the past. It is in this data, that we have seen more enduring insights, over circumstantial or fashion-driven movements or inclinations.

This year, we have also deliberately concentrated on horizon-based insights, things that will impact the very near future, rather than those that are blue-sky and longer term. We have gone deeper to explore what OutThere travellers are thinking now, especially when it comes to travel’s much bigger questions, brought about by everything that has happened in the last few years and what we continue to face.

This year’s sample consisted of 5% of our readership: all affluent, opinion-leading and worldly OutThere travellers who share in our values of diversity, discovery and discernment. These travellers are redefining what luxury travel means in the new ‘roaring 20s’. While the sample is small, the value of the insights that we have received is significant. We hope that they will prove as useful to you as they are to us and help you to further understand the needs and wants of our unique audience base at this time and as we navigate the coming year.

If you have any questions, or would like to find out more about how we can help you engage with our audience, please don’t hesitate to let us know. 

Uwern Jong & Martin Perry Founding Experientialists, OutThere

Email us or request OutThere’s 2023 media-kit

Photography by Martin Perry at V Villas Phuket M Gallery , from OutThere’s Thailand Revisited Issue

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The future’s OutThere

Travel behaviour Notable patterns from our research into OutThere consumer behaviour.

Insight 1: Inclusion and transparency are core values OutThere travellers are proactively looking to travel providers who are transparent and can outwardly demonstrate inclusivity in their outlook.

Insight 2: It’s all about me Self-indulgence will be the primary motivating factor for OutThere travellers this year.

Insight 3: Protagonists, not tourists OutThere travellers are looking to be at the very centre of storytelling when they travel.

Insight 4: Connection, reconnection and community OutThere travellers will travel overwhelmingly to connect and reconnect with ourselves, the people around us and the global communities that we’re part of.

Insight 5: Let’s get truly personal OutThere travellers will continue to redefine luxury and are looking for enhanced personalisation, or ‘true personalisation’ when they travel.

Insight 6: Tales of the city Bucking the trends still evident in mainstream travel, OutThere travellers will lead the charge back to urban destinations.

Insight 7: Preserving culture OutThere travellers are looking for cultural immersion, particularly those showcasing cultural sub-sectors, creative economies, living heritage and community-based cultural expressions.

Insight 8: Let’s really get OutThere OutThere travellers will be looking for ‘liberated luxury’: unbound experiences that challenge the parameters of traditional luxury travel expectations and well outside their comfort zones.

Insight 9: Cruises are OutThere 2023 will see a rapid return to the luxurious experiences on the water.

Photography by Martin Perry on location in Glenartney / Gleneagles , Scotland for OutThere’s Spellbinding Scotland Issue

Travel behaviour

While patterns of travel behaviour are becoming less erratic, it remains challenging to gauge how OutThere travellers will behave in 2023. In our quantitative research, for example, we saw a much more even spread across responses, as opposed to clear-cut answers. While there is undoubtedly an insatiable demand for travel, it seems that OutThere travellers will be far more spontaneous, savvy and perhaps even gratuitous in the way they approach their travels. These are some notable takeouts:

Travel is a firm spending priority (especially for the wealthy) in 2023

87% of OutThere travellers have said that travel will be a ‘high’ (43%) or ‘very high’ (44%) priority this year; a 7% increase as compared to last year. This demonstrates increased confidence and an appetite for travel. Despite continued uncertainty in 2022, 92% of OutThere travellers travelled internationally. These respondents have unanimously stated that the cost-of-living crisis or economic uncertainty will not affect their travel spend. However, we have noted from this data that there is a correlation to wealth. Of these respondents, those in the highest income or household wealth bracket see travel as a ‘very high’ priority, whereas others see it as a ‘high’ priority. It seems that the wealthy will continue to travel indiscriminately. Of the wealthiest of OutThere respondents, 61% plan to ‘spend more on travel’ in 2023, to ‘upgrade the quality of their experience’, or ‘go further’ and ‘travel deeper’ … an increase of 8% as compared to last year. This means that this already high-spending traveller will have an even greater economic impact and is looking to expand their travel horizons in 2023.

Both long-haul and domestic travel are on the up

83% of OutThere travellers will travel ‘long-haul’ in 2023. They are planning to take four international leisure trips on average this year, a volume increase of one trip as compared to last year’s research. This is still below the pre-pandemic average of five trips per year. For OutThere travellers, it seems domestic holidays are here to stay, contrary to what the industry in the mainstream is reporting.  Last year, OutThere travellers took two more domestic trips than they had done in previous years and our research shows that they intend to do the same this year.

The renaissance for travel experts continues

This year, 66% OutThere travellers will book their travel with a recommended travel advisor or tour operator, a staggering increase of 29% since 2019. We had anticipated that as the challenges and restrictions of the pandemic subsided, people would steadily return to self-booking, but were pleasantly surprised to find that they will continue booking with travel advisors having experienced the benefits of doing so over the last couple of years.

In addition, 88% of OutThere travellers will seek their inspiration from trusted commentators and mediums – websites, print mediums and specialist blogs being the ultimate source, now outperforming social media and influencer-led activity that had burgeoned in recent years. They are looking to those who can demonstrate a comprehensive understanding and moreover have an opinion of the state of travel today. 64% are looking to be led by travel experts on their choice of destination or travel provider, over proactively researching or picking one for themselves … a significant behavioural lean to the supply side.

Travel better, savvier, further and deeper

OutThere travellers are overwhelmingly looking to ‘increase the value of their holidays’. Value in this case does not mean price, deal or offer-seeking. Instead, these OutThere travellers seek to reprioritise their spending on experiences that allow them to ‘go further’ and ‘travel deeper.’ In essence, they will spend the same amount of money (or in some cases, more), but they are looking for more bang – better experiences – for their buck.

They are also looking for a greater ‘spirit of generosity’ from their travel providers: meaning those who can go the extra mile, personalise the experience , and deliver added perks, amenities and little surprises, will see a competitive advantage when working with these travellers. In addition, they are still looking for things that came as standard during the pandemic to remain: flexibility, greater hand-holding and dedicated customer service being important examples.

OutThere travellers will also be increasing the duration of their trips on average to between 7-10 nights. In previous years, the average stay was 5-7 nights. It seems that they are planning to travel for longer and perhaps also less frequently, making bigger journeys to allow them to ‘travel further’ and ‘go deeper’.

While there may be some correlation, we do not feel that this is just due to the sustainability-driven needs of those who want to ‘travel less, stay longer’ that we have been hearing a lot about in the industry. This is more based on hedonism-driven travel and an appetite for better experiences, stemming from a desire for self-indulgence . Also, in an era of more flexible working conditions and self-defined business hours, OutThere travellers feel empowered to make much more of their holiday time. This presents an opportunity for destinations and travel providers to engage travellers better and get them more invested in the destination during their stay. It also provides destinations and travel providers that neighbour popular OutThere destinations the chance to draw in travellers who traditionally would only consider a single-destination vacation into booking a multi-destination trip.

A more spontaneous traveller

36% of OutThere travellers have already booked one holiday in 2023, departing in the first 3 months of the year. A further 38% plan to book before March 2023, for a holiday departing in the following 3 months of 2023.

There is still a great level of spontaneity in the market. 42% have said that their booking window will be within a month of departure (a 7% increase from last year), with another 41% within three months of departure. We do expect this behaviour to change as the year goes on, as travellers find availability more challenging as more international visitors re-enter the market. At the start of last year, OutThere travellers were mostly looking to book their trips for year-end. The good news is that they are now looking to book more evenly across the year, albeit closer to the date of travel than before.

Traveller types

Each year we ask our respondents to choose which of the six OutThere traveller types they identify as most. It’s a barometer and indicator of the sort of travel they seek to do this year. Culture, hedonism and escapism came out on top for 2023.

2023 1. Culturalist (25%) 2= Hedonist (20%) 2= Escapist (20%) 4. Adventurer (15%)  5. Sophisticate (12%) 6. Insider (8%)

2022 1. Culturalist (25%) 2. Sophisticate (19%) 3. Adventurer (17%) 4. Insider (15%) 5. Escapist (13%) 6. Hedonist (11%)

Photography by Charl Marais on location in Cape Town, for OutThere’s Captivating Cape Town Issue

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Inclusion and transparency are core values

For the first time this year – and in line with our brand values – we asked our readers a set of ‘diversity and inclusion’ based questions. What we learnt shocked us, but didn’t surprise us. 73% of respondents did not feel that luxury travel marketing is inclusive of today’s diverse traveller demographic, predominantly feeling that visual communications in the industry are not representative of them or today’s luxury traveller; nor did they feel that travel brands proactively target, market and promote directly to diverse community groups. 66% of respondents did not feel that luxury travel providers provide products and services that are tailored to the needs of a diverse traveller demographic. 62% of respondents did not feel that those employed by luxury travel providers are adequately trained to be sensitive to the needs of a diverse traveller demographic.

57% of respondents did not feel that travel providers are transparent about their diversity policies when it comes to non-discrimination or a diverse and socially conscious supply chain.

OutThere travellers are this year, proactively looking to destinations and travel brands that can outwardly demonstrate inclusivity in their outlook, good social responsibility and ones that value diversity and difference.

Over the last few years, we have seen a rapidly growing awareness among OutThere travellers of their impact when they travel. They put their money where their values lie and that will continue into this year and beyond. OutThere travellers truly understand their purchasing power. They have been successful in toppling conservatism in travel through boycotts and activism. They are much more aware than ever before about ownership and governance and will hold destinations and travel brands accountable.

Interestingly though, what we have noticed, is that while sustainability and environmental impact has long been a concern for OutThere travellers, this year it seems that they will initially deprioritise when it comes to choosing their holiday in lieu of hedonism and self-indulgence .

While there may be a contradiction between a desire for greater environmental stewardship and hedonism, this does not mean that there is any change in expectation. They may prioritise fun first, but they remain passionate about travelling with a purpose. 70% of OutThere travellers said that they will pay more to travel sustainably.

What we are also seeing this year is an increase in demand for supplier-based advocacy; and with that greater transparency in how travel providers go about their business. Previously more demand-driven, OutThere travellers are now looking to work and book with those who are completely open about how they work, the quality of the supply chain and whose products and services see sustainable and regenerative travel coming as a brand standard. Ultimately, they want suppliers to do the hard work for them.

“If you aren’t fully transparent, and most aren’t, now is the time for you to start the journey towards it. In France, comprehensive end-to-end supply chain accountability legislation has been brought into law: the Droit de Vigilance, a statute requiring large companies operating in France to monitor and remediate human rights and environmental risk across their global operations, and their suppliers. It’s all part of a culture shift toward transparency across supply chain industries. Further legislation will come but it’s better to be ahead than behind.” Positive Luxury

Photography by Martin Perry, on location in New York City, USA for OutThere’s Monumental New York Issue

It’s all about me

Self-indulgence will be a major theme for OutThere travel in  2023. We are seeing our respondents opt for lavish, resort-based holidays with hedonism and celebration high on the cards as a matter of immediate priority; as compared to previous years where transformative or values-based travel was in the highest demand from the outset.

However, once this desire for hedonism is satiated, we predict that they will start to seek out values-driven travel and experiences that push their boundaries and takes them out of their comfort zone . But even in those circumstances, self-indulgence will still be the prime motivator.

With self-indulgence key in the decision-making process, travel providers will easily persuade OutThere travellers to upgrade their experiences. This could be going up in airline class, even flying private, or improving or upgrading accommodation. This could also involve pushing the boundaries of existing experiences or adding-on higher-value experiences to itineraries. But while travellers are looking to purchase more to enhance their experiences, they are also seeking greater generosity from their travel providers.

One of the key priorities for OutThere travellers in this new world of unrestricted travel will also be to fulfil all the plans they had to postpone during the pandemic or didn’t fulfil because of ongoing uncertainty. They are highly likely therefore to ‘go bigger’ on these trips than originally planned. Celebrating a special occasion (both missed and current) is one of the top reasons why OutThere travellers travel: 71% will travel to mark a momentous occasion this year.

“It’s all about me” isn’t just about celebration travel. We have noted a significant increase in demand for wellness-based travel this year as well. Aligned with self-indulgence is also self-care, particularly for the mind, self-discovery and reconnection with the world and society around us , but also for body and soul.

“There has been a lot of talk about how, post-pandemic, this decade will be known as the Roaring Twenties. Just as the 1920s saw an explosion of conspicuous hedonism, Globetrender predicts that citizens of the 2020s will seek the sensual pleasures they have been denied during the Covid-19 crisis. Mindfulness and responsible travel will not necessarily be front of mind.” Globetrender

Photography by David Edwards on location at Amanjena in Marrakech for OutThere’s Marvellous Marrakech Issue

Protagonists, not tourists

We are seeing a distinct culture shift in the way OutThere travellers are exploring the world. At first, they wanted to cease being tourists to become travellers. No longer just content with being travellers they’re now seeking to be protagonists.

Much like OutThere travellers wanting to see themselves in luxury travel marketing and are looking for greater personalisation , these travel neo-opinion leaders and re-imagineers are demanding products and services that put them front and centre of the storytelling. They are all now part of a very well-established and developed experience economy, it is in everything and is everywhere, so they expect narratives when they travel, not just itineraries.

Moreover, stories help people contextualise their place in the world. But especially during the pandemic, they relied on stories to escape and now they can get back out into the world again, they crave it as they travel. And this isn’t really a new thing: the Insta- and TikTok-fication of travel existed even before the pandemic… but is now further exaggerated post-pandemic, there is a heightened belief that they are all, in some way, ‘micro-influencers.’ Thus, the ‘storification’ of travel has become important.

Travel brands can capitalise on this, particularly in how they communicate with travellers, but also in the way they present their products. We have seen keen interest among OutThere travellers in providers who ‘storify’ or ‘game-ify’ the guest experience… from deeply interactive websites and apps, to themed luxury train journeys, futuristic polar camps, to experiential money-can’t-buy adventures, to educational expeditions, to something as simple as ‘floating breakfasts’ at resorts. We have also seen travel providers scramble to reposition themselves: many luxury hotels are now lifestyle hotels, city properties are urban resorts, and cruises are expeditions, all working hard to develop a story for their guests.

At OutThere we have always believed in inspiration over information. During the pandemic, we had to lean into the latter for obvious reasons, to help our travellers navigate restrictions and access. But now things are far less constrained, we are back in the business of inspiration and storytelling. Our travel content is far less about lists of things to do and see; and much more about how it feels to be at the centre of a story.

“At Black Tomato, we are seeing more travellers embracing characters and narratives as they explore the world… immersing themselves in sprawling imaginative worlds, be they plucked from the silver screen or the pages of their favourite novel – escapist, playful, page-turning. During Covid, stories helped us escape, but now that we can escape for real, we’ve seen a 30% increase in interest in these narrativized approaches to the world, blending fact and fiction, this is travel with all the drama and intrigue of the world’s most enduring movies, novels, myths and legends.” Black Tomato

Photography by Martin Perry on location in Gleneagles , Scotland for OutThere’s Spellbinding Scotland Issue

Connection, reconnection and community

In 2023, OutThere travellers will travel to connect and reconnect with ourselves and the people around us. Education and engagement with communities and among people will be very important to us, a natural desire after the two years that were.

This isn’t something new per se, as it’s the very tenet of transformative travel, but this year it seems that the connection we are looking for will be more human and aligned with positive humanity.

This ties together many of the other trends this year, from the desire to be in populated cities , to the need to engage with culture and the hunger for inclusivity and transparency .  It also explains why spiritual wellness beyond physical wellness is also in great demand this year.

This is reflected in our continued appetite for transformative travel. 86% of us are interested in holidays that will help us ‘change our outlook on the world’ and ‘enable us to get a better handle on the challenging structures that still shape our society today’. As well as having fun , 77% want to get truly out there, experience and learn something that is lifechanging on their next adventure .

In 2022, social and community-based engagement – in part linked to sustainable travel – was popular, with OutThere travellers interested in destinations, properties and experiences where suppliers are giving back to the community, or to the greater good of social advancement in the destination. This year, this has developed into wider people empowerment, tied to a desire for deeper connections and reconnections. The pandemic had prevented us from engaging with our own communities on a local level, as well as with people in other countries. It has reminded us of the power of humanity and the importance of mutual understanding in travel.

Demand has shifted from just meeting locals, to community-based cultural experiences. OutThere travellers are looking for special aspects of local life that community members feel proud and comfortable sharing with guests, ideally owned, led and run by local people. Moreover, this is about ensuring that communities will directly benefit from the social-economic impact of our ‘showing up.’

This is not just about experiences that bridge a social-economic gap between travellers and locals. Event-based travel, driven by local communities – and communities that we feel part of – for example, Pride celebrations for LGBTQ+ OutThere travellers, carnivals, music festivals, fashion weeks, restaurant weeks and other live events, are also in demand.

OutThere travellers really understand the power of community. We thrive in the support, belief, collective wisdom, togetherness and success of communities around the world. ‘Luxury group travel’ is also something that OutThere travellers will be seeking this year (66% have said that they are interested in group travel this year) whether privately, as part of a chosen family or friendship group… or as part of an organised group with others. More than before, there is a desire to deepen relationships, share experiences and meet other like-minded people.

“To achieve what we’re looking for and capable of as individuals, we need to seek deeper connections and self-discovery when we travel – more clarity, purpose and joy in the miracle of being and how we interact with ourselves and those around us. At The Luminaire, we believe in the power of travel to nurture personal growth. Our goal is to identify and build upon the interests of our guests while igniting newfound passions along the way. Through visceral learning, our journeys this year endeavour to cultivate a deeper, more profound connection with the world and spark a desire to protect it.” The Luminaire

Photography by Martin Perry on location at Amangalla , Galle, Sri Lanka for OutThere’s Seductive Sri Lanka Issue

Let’s get truly personal

OutThere travellers will continue to redefine luxury and are looking for enhanced personalisation when they travel, we’re calling it “true personalisation”.

True personalisation is not just about making a tweak to accommodate a special request from an OutThere traveller, it’s about taking the time and effort to create a dialogue to understand and engage with specific wants and needs, hopes and fears. Technology can help on a rational level, but the human connection on an emotional level is also important.

The pandemic has made us much more discerning as a traveller group – we’re far less patient with accepting the status quo when we travel and more insistent that travel products and services are tailored to us, at all levels. In addition to us wanting to work with travel providers that match our values ,   we are going to be less tolerant of those who don’t understand us and our needs, which means providers will have to pay far more attention to the detail than before.

In 2023, travel providers will quickly see that personalised experiences will be a powerful differentiator within a rapidly hypercompetitive travel space. Those who are critically reappraising their customer management protocols or strategy will be able to optimise operations, exceed the needs and wants of customers, and see a greater return on investment, retention and loyalty.

“The pandemic may have changed travel, but what’s even more important is recognising that the pandemic has changed people. It’s changed the way people live day-to-day, their priorities and their passion points.” Hilton International

Photography by David Edwards on location at Grand Hotel Tremezzo, Lake Como , Italy for OutThere.travel

Tales of the city

Bucking the trends still evident in mainstream travel, OutThere travellers will lead the charge back to urban destinations. While over the last two years, people have sought open spaces in rural environments, 88% of OutThere travellers headed to cities instead, as well as its places to stay, eat, play and see.

OutThere travellers thrive in urban environments, away from the conservative gazes in more rural destinations. They want to be where they can meet and interact with other members of their communities. They also want to be able to engage in high-quality cultural experiences , that are endemic to urban centres.

A vast majority of OutThere travellers have already travelled to cities. Less densely populated cities that have access to open space, nature and beaches will continue to be popular, but the data indicates that in 2023, OutThere travellers will continue to lead the charge back to major metropoles. That said, we have noted a significant interest in ‘secondary cities’ this year – ones that are not country capitals but offer a unique, perhaps more relaxed take on the urban experience.    OutThere travellers are also overwhelmingly more compliant with any remaining health ordinances and are more mindful and respectful when they travel. They also understand the power of community to rebuild after a time of crisis. Moreover, often considered opinion leaders, OutThere travellers can really set the benchmarks for urban tourism of the future and drive the mainstream back into cities.

In line with the desire to increase the average duration of their stays, city-based destinations and travel providers should consider how they can turn the traditional ‘city breaks’ into fully-fledged vacations or ‘living like a local’ trips; or work with other neighbouring partners to create greater value from regional, multi-centre holidays. Conversely, destinations and travel providers within easy reach of major city destinations should work harder to attract these travellers and expand their horizons.

In addition, with ‘bleisure’ firmly on the rise (77% of OutThere travellers are looking to add some ‘me time’ to their work trips and bring travelling companions with them), there is a significant opportunity for hoteliers to turn traditional business travellers into loyal leisure guests.

“Diverse travellers are returning with confidence to the world’s top cities. In the pandemic we’ve missed their bustling beauty, they are the heart of everything we crave. Like us, urban centres have changed too, demonstrating their resilience, inspiring difference and evolving with fresh new ideas. While new city destinations are firmly on traveller bucket-lists, there are also new hotel and attraction openings and new opportunities everywhere, so even the cities that we already know and love feel fresher than ever.” StockholmLGBT

Photography by Martin Perry on location in Budapest, Hungary for OutThere’s Beguiling Budapest Issue

Preserving culture

88% of OutThere travellers profess to be culture vultures this year (an increase of 9% from last year). Of our six traveller types, “Culturalist” continues to poll highest this year. Live art and culture are among OutThere travellers’ primary interests when travelling. After Covid, they are desperate for live culture – museums, shows and cultural attractions in the immediate context – but also experiencing wider culture in general; be it interacting with people of different backgrounds, or other culturally-linked experiences like food and drink, as well as history and heritage. This is also heavily linked to their desire to return to cities and their surroundings that provide access to such experiences.

87% of OutThere travellers have said that they have tried to access global cultural experiences from home during the pandemic. Of those, 71% have admitted that they struggle with the depth and quality that virtual cultural experiences have given them. Live events will never be replaced.

We anticipate that there will be a surge in demand for cultural experiences in travel during 2023. 86% of OutThere travellers had visited a cultural attraction or event in person in 2022.

Tourism providers should look to provide an integrated approach, to include and even centralise cultural immersion within their offerings. In line with OutThere travellers’ desire for connection/reconnection and community , there is an opportunity to build on diversity and inclusion, particularly involving local communities in showcasing cultural sub-sectors, but on a micro level, creative economies, living heritage and community-based cultural expressions.

“Cultural tourism UNWTO as tourism centred on cultural attractions and products –is one of the fastest growing segments of the tourism industry. At its highest potential, it accounts for an estimated 40% of all tourism worldwide. It intersects with heritage and religious sites, crafts, performing arts, gastronomy, festivals and special events, among others. Post-pandemic, cultural tourism will be a continuously growing and evolving sector, which continues to be transformed by changing lifestyles, burgeoning forms of culture and creativity, and traditional and digital innovation. It has also become an increasingly complex phenomenon… taking on greater political, economic, social, educational and ecological dimensions. The pandemic presents the opportunity to experiment with new models to shape more effective and sustainable alternatives for the future. While it has dramatically shifted the policy context for cultural tourism, it has also provided the opportunity to experiment with integrated models that can be taken forward in the post-pandemic context.” UNWTO/UNESCO

Photography by BJ Pascual on location in Manila, the Philippines for OutThere’s Modern Manila Issue

Let’s really get OutThere!

In 2023, OutThere travellers will also be looking for ‘liberated luxury’. These are unbound experiences, outside the parameters of traditional luxury travel. As pandemic PTSD subsides, a new mindset has emerged, centred around footloose living and with that, deepening curiousities and flexible, more open-minded lifestyles. With this comes greater demand for personalised , tailormade holidays that are not cookie-cutter itineraries: to fulfil bigger dreams, burgeoning imaginations and the hunger for the unique. In order to meet these new priorities, travel providers and their suppliers will need to break free from the traditional expectations of luxury travel.

OutThere travellers will also want to ‘go further’ and ‘travel deeper.’ With life in the pandemic (and also a rapid return to normalcy) having had a numbing effect on their senses, it’s no wonder that there is a desire for reinvigorating, must-see, eye-opening trips.

We have seen significant interest, particularly for bookings later in 2023, in immersive expeditions and  ‘journeys of discovery’. They are interested in voyages that go beyond the norm – perhaps even those outside their comfort zones  – anchored in a sense of adventure and discovery, but still rooted in luxury.

73% of OutThere travellers are interested in going on an expedition holiday before the end of 2023. This includes small-ship and expedition  cruises , epic train journeys, safaris and adventures that push limits, be it physically or mentally. They are also looking to go to the farthest reaches of the earth (and now even perhaps beyond our own planet): in terms of distance, elevation, climate extremes and seclusion. They want to see – with their own eyes – things that are ‘once in a lifetime’. They are no longer content that things are ‘out of their reach’, they are willing to make the long journeys to do so. They are also willing to spend high for the pleasure of doing it in luxury and comfort; they’ll “go big or go home”.

This sense of adventure and desire for experiential travel will also be a motivating factor when choosing and booking hotels and places to stay. We note that OutThere travellers are not just looking at hotels and resorts that offer unadulterated luxury, hospitality and a sense of place, but are also interested in what hotels can do to create a truly experiential and unique stay. They are looking for memorable experiences that help them explore more of the local area, see natural and modern wonders of the world, expand their horizons and aid personal growth.

“Whatever fears our guests are facing in 2023, this will be the year to step out of the comfort zone and ‘go wild’ – rediscover old favourites, explore new destinations, try new things, reconnect with the world and most importantly, with ourselves. For some, it’s embarking on that first solo trip post-divorce or taking their teenagers on an intrepid adventure through Central America. For others, it’s hiking through the Himalayas without any phone signal or braving a polar plunge in the ice-cold waters of Antarctica. In 2023, we’re going beyond the luxury tour operator remit of planning holidays to prescribing journeys for personal growth, each one as unique as our individual guests, no matter what stage of life they are at.” Scott Dunn

Photography by Martin Perry on location in Galle, Sri Lanka for OutThere’s Seductive Sri Lanka Issue

Cruises are OutThere

We are seeing a rapid return to the experiences on the water. 59% of OutThere travellers call themselves cruise travellers and are considering a cruise holiday in 2023 and beyond.

New, luxurious, sustainability-conscious ships, itineraries and expeditions are leading this trend, but OutThere cruisers are primarily looking at out-of-the-ordinary cruise products and adventures, as well as educational and transformational on-vessel and on-land experiences. They are also being drawn by some of their favourite, usually landlubber luxury hotel brands, taking to the high seas and rivers.

Additionally, with ‘blue health’ (heralding the restorative properties of time-out on water) being a much-touted buzzword last year, it’s no wonder that private yachting trips are already on the up, with 37% of OutThere travellers actively researching VIP yacht journeys. 

We have also noted a significant increase in interest in river cruising, which has surged ahead in interest as much as ocean cruising has.

OutThere travellers are also looking to redefine cruising’s relationship to their ports of call. With a greater desire for transparency and we are interested in looking at how cruise companies can contribute better to the local communities on their stopover destinations, as well as addressing economic leakage, tax avoidance and their impact on the environment.

“Ultra-luxury and elevated cruise concepts are revolutionising the way cruising is done, and the industry has little choice but to respond accordingly. We will launch Explora 1 in 2023 and far more shortly after. In the next five years, we’ll have hydrogen-powered ships, making sailings more environmentally conscious. Our ships will all offer oceanfront suites and private terraces to around 900 passengers, as well as unparalleled luxury facilities and amenities, with a dedicated focus on guest well-being and ocean state-of-mind. We are also creating far more immersive experiences in destinations as well as aligning with local communities, spending more days in one port of call rather than blowing through.” Explora Journeys

Photography by Martin Perry on location in Comino, Malta for OutThere’s Majestic Malta Issue