DUBLIN--(BUSINESS WIRE)--The "Luxury Travel - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Amid the COVID-19 crisis and the looming economic recession, the Luxury Travel market worldwide will grow by a projected US$400.8 Billion, during the analysis period, driven by a revised compounded annual growth rate (CAGR) of 5.3%.
The global analysis and forecast periods covered are 2020-2027 (current & future analysis) and 2012-2019 (historic review). Research estimates are provided for 2020, while research projections cover the period 2021-2027.
Customized & Private Vacation, one of the segments analyzed and sized in this study, is forecast to grow at over 6.4% and reach a market size of US$310.6 Billion by the end of the analysis period. An unusual period in history, the coronavirus pandemic has unleashed a series of unprecedented events affecting every industry. The Customized & Private Vacation market will be reset to a new normal which going forwards in a post COVID-19 era will be continuously redefined and redesigned. Staying on top of trends and accurate analysis is paramount now more than ever to manage uncertainty, change and continuously adapt to new and evolving market conditions.
As part of the new emerging geographic scenario, the United States is forecast to readjust to a 4.2% CAGR. Within Europe, Germany will add over US$12.1 Billion to the region's size over the next 7 to 8 years. In addition, over US$11.7 Billion worth of projected demand in the region will come from Rest of European markets. In Japan, the Customized & Private Vacation segment will reach a market size of US$9.2 Billion by the close of the analysis period.
Blamed for the pandemic, significant political and economic challenges confront China. Amid the growing push for decoupling and economic distancing, the changing relationship between China and the rest of the world will influence competition and opportunities in the Luxury Travel market. Against this backdrop and the changing geopolitical, business and consumer sentiments, the world's second largest economy will grow at 8.9% over the next couple of years and add approximately US$110 Billion in terms of addressable market opportunity.
Continuous monitoring for emerging signs of a possible new world order post-COVID-19 crisis is a must for aspiring businesses and their astute leaders seeking to find success in the now changing Luxury Travel market landscape. All research viewpoints presented are based on validated engagements from influencers in the market, whose opinions supersede all other research methodologies.
Competitors identified in this market include, among others:
- Abercrombie & Kent USA, LLC
- Butterfield & Robinson
- Cox & Kings Ltd.
- Kensington Tours Ltd.
- Ker and Downey
- Micato Safaris
- Tauck, Inc.
- Thomas Cook Ltd.
- TUI AG
Key Topics Covered
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Global Competitor Market Shares
- Luxury Travel Competitor Market Share Scenario Worldwide (in %): 2019 & 2025
- Impact of COVID-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
- Total Companies Profiled: 42
For more information about this report visit https://www.researchandmarkets.com/r/vqk1a1