The internal luxury travel and tourism market's global revenue, which is based on spending by domestic and international tourists, amounted to nearly *** trillion U.S. dollars in 2023. This figure was expected to increase by **** percent in 2024, reaching an estimated *** trillion U.S. dollars. The luxury hotel market worldwide From 1983 to 2023, the global luxury hotel supply, which refers to the number of rooms available in luxury establishments, roughly tripled, peaking at over ***** in 2023. Over the same period, the supply of ultra-luxury hotels worldwide experienced a fivefold increase. What are the preferred activities of affluent vacationers? According to a global survey conducted in 2024, eating in a fine-dining restaurant and staying in a five or more starred hotel were the preferred holiday activities of affluent consumers, as mentioned by roughly *** out of 10 respondents. On the other hand, just around ** percent of the sample had a private transport experience that year.

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Luxury Travel Market Size 2025-2029

The luxury travel market size is valued to increase USD 519.6 billion, at a CAGR of 6.7% from 2024 to 2029. Increasing disposable incomes will drive the luxury travel market.

Major Market Trends & Insights

APAC dominated the market and accounted for a 29% growth during the forecast period.
By Type - Adventure segment was valued at USD 444.60 billion in 2023
By Consumer - Domestic segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 63.62 billion
Market Future Opportunities: USD 519.60 billion
CAGR : 6.7%
APAC: Largest market in 2023

Market Summary

The market encompasses a continually evolving landscape shaped by core technologies and applications, service types, and regional trends. Technological innovations, such as virtual concierge services and mobile apps, enhance the travel experience for affluent consumers. In the realm of luxury services, trends like sustainable tourism and personalized experiences are gaining traction. However, the market faces challenges, including inconsistent service quality and increasing competition. For instance, according to Skift, the luxury travel sector accounts for approximately 7% of global tourism expenditures. Trending sectors within luxury travel include sports tourism, offering unique experiences for travelers seeking adventure and exclusivity. Despite these challenges, the market presents significant opportunities for growth, particularly in emerging markets like Asia-Pacific, where disposable incomes are on the rise.

What will be the Size of the Luxury Travel Market during the forecast period?

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How is the Luxury Travel Market Segmented and what are the key trends of market segmentation?

The luxury travel industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Type

  Adventure
  Personalized
  Cruising and yachting
  Culinary
  Others


Consumer

  Domestic
  International


Age

  21-30 Years
  31-40 Years
  41-60 Years
  60 and Above


Accomodation Type

  Luxury Hotels & Resorts
  Private Villas & Rentals
  Luxury Cruises
  Boutique Hotels


Traveler Type

  Individual
  Group


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    UK


  APAC

    China
    India
    Japan
    South Korea


  Rest of World (ROW)

By Type Insights

The adventure segment is estimated to witness significant growth during the forecast period.

In the luxury travel sector, helicopter tours, five-star resorts, and personalized travel planning continue to dominate the market. According to recent statistics, luxury accommodations account for 35% of the total bookings, while helicopter tours have seen a 25% increase in demand. Cultural immersion tours, such as historical site visits and sustainable tourism practices, are also gaining popularity, with a 17% rise in bookings. Personalized travel planning, including bespoke itineraries, concierge services, and VIP airport transfers, is another significant trend, accounting for 20% of the market. Luxury cruise lines, private yacht charters, and luxury train travel cater to the high-end hospitality segment, which is expected to expand by 12% in the coming years.

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The Adventure segment was valued at USD 444.60 billion in 2019 and showed a gradual increase during the forecast period.

Adventure travel, including safari adventures, wildlife viewing, guided hiking excursions, and adventure packages, is on the rise, with a 21% growth expectation. Luxury villa rentals, fine dining experiences, and luxury car rentals are other key offerings, contributing to the market's continuous growth. Responsible travel and exclusive travel experiences are becoming increasingly important to discerning travelers. Market players, such as Classic Journeys, are responding by offering a wide range of adventure travel packages across various countries and diverse activities. The market is poised for ongoing expansion, with a projected 18% increase in demand for luxury travel experiences.

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Regional Analysis

APAC is estimated to contribute 29% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The European the market experiences continuous expansion due to several factors. With an increasing number of baby boomers in Europe, there is a growing preference for multigenerational and customized vaca

The luxury travel market is projected to grow from USD 2.4 trillion in 2025 to USD 4.5 trillion by 2035, at a CAGR of 6.5%. Air Transportation will dominate with a 50.0% market share, while online booking will lead the booking channel segment with a 46.3% share.

The Luxury Travel Market size was valued at USD 1.48 trillion in 2023 and is projected to reach USD 2.52 trillion by 2032, exhibiting a CAGR of 7.9 % during the forecasts period. Recent developments include: In June 2023, Lindblad Expeditions collaborated with FOOD & WINE magazine to launch an eight-day journey through the Pacific Northwest along the Columbia and Snake Rivers. During this expedition, guests explored the region's historical, agricultural, and natural aspects and savored the local cuisine and wines. , In February 2023, Australia-based Flight Centre Travel Group signed an agreement to purchase Scott Dunn Ltd. for approximately USD 149 million. Flight Centre Travel Group is the proprietor of leisure and corporate travel enterprises in over 20 countries. This acquisition serves as the company's strategic entry into the luxury market in both the UK and the U.S., expediting its initiative to establish a collection of luxury travel brands. , In September 2022, Cox & Kings Ltd. unveiled its 2023-24 Worldwide Brochure, which included six new tours. Additional tours to France, Turkey, India, Pakistan, and Jerusalem were introduced in the brochure. The 208-page brochure covers departures till the end of 2024 and all the trips are capped at 14 guests per group. .

The Global Luxury Travel Market Size Was Worth USD 1.50 Trillion in 2023 and Is Expected To Reach USD 3.30 Trillion by 2032, CAGR of 8%.

Luxury Travel Market size was valued at USD 1739.54 Billion in 2024 and is projected to reach USD 2550.57 Billion by 2032, growing at a CAGR of 4.90% from 2026 to 2032.Global Luxury Travel Market DynamicsRising Affluent Populations' Disposable Income: One significant factor is the increasing concentration of wealth among high-net-worth people (HNWIs) and ultra-high-net-worth individuals (UHNWIs). This affluent sector has more money to spend on discretionary indulgences like travel, and they seek experiences that raise their holidays above the ordinary.Shifting Preferences for Personalized Experiences: Today's luxury travelers seek authenticity and experiences suited to their interests. Generic itineraries are no longer sufficient. This trend increases demand for luxury travel businesses that construct one-of-a-kind experiences, ranging from private museum tours to exclusive culinary excursions, catering to specific preferences and creating a sense of exclusivity.Desire for Unique and Transformative Travel: Luxury visitors are increasingly looking for experiences beyond tourism. They want journeys that provide personal growth and a stronger connection to their places. This could include cultural immersion programs, transformative wellness retreats, or even daring adventures that test personal limits.Growing Popularity of Micro-Lux: Busy lifestyles have led to an increase in shorter, ultra-luxurious holidays. Travelers want concentrated pockets of indulgence, such as high-end spas, Michelin-starred restaurants, and private events. These micro-lux tours pander to the craving for extravagance in a restricted period.

The Luxury Travel Market will grow from USD 1.61 Trillion in 2025 to USD 2.55 Trillion by 2031 at a 7.97% CAGR.

Market Size and Growth: The luxury travel market is experiencing a steady growth, with a CAGR of 8.2% projected for the period 2025-2033. The market size in 2025 is estimated at 43,020 million USD and is expected to reach 71,550 million USD by 2033. Key drivers fueling this growth include rising disposable income among affluent individuals, increasing demand for personalized and exclusive experiences, and government initiatives promoting tourism. Trends and Segments: The luxury travel market is characterized by several trends, such as the growing popularity of customized and private vacations, adventure and safari experiences, and cruise/ship expeditions. Segmentation by application reveals a preference among millennials, Generation X, and baby boomers. Key players in the industry include TUI Group, Thomas Cook Group, and Jet2 Holidays. Geographically, North America and Europe hold substantial market shares, while emerging markets in Asia Pacific and the Middle East & Africa present significant growth potential.

In 2023, the United States recorded the highest revenue from the internal luxury travel and tourism market among the selected global countries, at over *** billion U.S. dollars. China reported the second-highest figure in the ranking, with nearly ** billion U.S. dollars in revenue.

In 2023, the internal luxury travel and tourism market's revenue worldwide, which is based on spending by domestic and international tourists, reached nearly *** trillion U.S. dollars. That year, domestic tourists accounted for roughly ** percent of the internal luxury travel and tourism market's global revenue.

According to a 2024 study, affluent travelers contributed more significantly to the travel experience market in 2023 compared to 2019. Over the period considered, the share of spending by luxury travelers increased by ** percentage points, with affluent consumers accounting for ** percent of the travel experience market's total expenditure in 2023. That year, visitors with a high-income represented ** percent of all travelers in this market.

The global luxury travel market size was estimated at USD 1.39 trillion in 2023 and is expected to grow at a CAGR of 6.6% from 2024 to 2032.

South East Asia luxury travel market size reached USD 83.5 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 193.6 Billion by 2033, exhibiting a growth rate (CAGR) of 9.8% during 2025-2033. The rising popularity of accommodations that provide a perfect blend of comfort and extravagance and elevate the overall travel experience is primarily augmenting the regional market.

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the regional and country levels for 2025-2033. Our report has categorized the market based on type of tour, age group, and type of traveller.

Luxury Travel Market is estimated to be valued at USD 302.41 Bn in 2025 and is expected to expand at CAGR of 7.8%, reaching USD 511.6 Bn in 2032.

The size of the Luxury Travel Market was valued at USD 22.3 Billion in 2023 and is projected to reach USD 33.98 Billion by 2032, with an expected CAGR of 6.20% during the forecast period. Recent developments include: In June 2023: Lindblad Expeditions collaborated with FOOD & WINE magazine to launch an eight-day journey through the Pacific Northwest along the Columbia and Snake Rivers. During this expedition, guests explored the region's historical, agricultural, and natural aspects and savored the local cuisine and wines, In February 2023: Australia-based Flight Centre Travel Group signed an agreement to purchase Scott Dunn Ltd. for approximately USD 149 million. Flight Centre Travel Group is the proprietor of leisure and corporate travel enterprises in over 20 countries. This acquisition serves as the company's strategic entry into the luxury market in both the UK and the U.S., expediting its initiative to establish a collection of luxury travel brands, In September 2022: Cox & Kings Ltd. unveiled its 2023-24 Worldwide Brochure, which included six new tours. Additional tours to France, Turkey, India, Pakistan, and Jerusalem were introduced in the brochure. The 208-page brochure covers departures till the end of 2024 and all the trips are capped at 14 guests per group. Key drivers for this market are: Growing disposable income: Rising wealth and income levels, particularly among the affluent population, are fueling the demand for premium travel experiences.

Expanding middle class: The global growth of the middle class is creating a new market segment with increased disposable income and a desire for luxury travel.. Potential restraints include: Economic downturns: Recessions and economic crises can impact discretionary spending on luxury travel.

Political instability: Geopolitical events and safety concerns can deter luxury travelers from visiting certain destinations.. Notable trends are: Wellness and mindfulness retreats: Luxury travel experiences designed to promote relaxation, rejuvenation, and personal well-being.

Sustainability and responsible tourism: Increasing demand for eco-friendly travel practices and ethical experiences..

As per Cognitive Market Research's latest published report, the Global Luxury Travel market size was USD 538.2 Billion In 2022 and it is forecasted to reach USD 1760.5 Billion By 2030. Luxury Travel Industry's Compound Annual Growth Rate will be 7.95 % from 2023 to 2030. Factors Impacting on Luxury Travel Market

The increasing HNIs population and the aspiration of young and rich millennials to explore new places and have unique travel experiences are major factors expected to drive the growth of the luxury travel market. Furthermore, the increasing demand for unique travel experiences is expected to tremendous opportunities for the global luxury travel market in the forecast period. However, changing socioeconomic conditions are projected to hamper the growth of the luxury travel market. What is Luxury Travel?

Luxury travel services are desirable and premium experiences in terms of luxurious accommodations, convenient transport facilities, and authentic travel experiences. Luxury travel services provide outstanding services to travelers.

The luxury tourism market, valued at $38.84 billion in 2025, is poised for substantial growth. While the exact CAGR is unavailable, considering the inherent resilience and growth potential of the luxury travel sector, a conservative estimate of 5-7% annual growth is reasonable. This would place the market size between $50 billion and $60 billion by 2033. Several factors drive this expansion. The increasing high-net-worth individual (HNWI) population globally fuels demand for exclusive travel experiences. A rising preference for personalized, bespoke travel itineraries, coupled with a greater focus on sustainability and unique cultural immersion, further enhances the market appeal. Technological advancements in booking platforms and personalized travel planning also contribute to this growth. However, macroeconomic factors such as economic downturns and geopolitical instability can act as restraints. Fluctuations in currency exchange rates and rising fuel costs also impact operational expenses for luxury travel providers. Competition among established and emerging luxury travel companies remains intense, demanding continuous innovation in product offerings and customer service. The segmentation of this market is complex, encompassing different travel styles (adventure, cultural, wellness, etc.), trip lengths, and levels of service. Key players like TUI Group, Thomas Cook Group, and Abercrombie & Kent Ltd. are strategically investing in innovative offerings and personalized services to maintain their market share and attract discerning travelers seeking exclusive experiences.

In 2020, domestic luxury tourism in India was estimated to have generated only **** of the revenue it did in 2019, while its international luxury tourism sector was anticipated to have lost *** billion U.S. dollars worth of revenue compared to the year prior, according to a Statista study on the topic. This strong drop in luxury tourism revenue expected for India is associated with the COVID-19 pandemic. Nonetheless, it has been forecasted that the Asian country's luxury tourism sectors will recover by 2022 and even generate revenues surpassing their pre-pandemic numbers in the succeeding years.

The UK Luxury Travel Market size was valued at USD 101.01 billion in 2023 and is projected to reach USD 175.37 billion by 2032, exhibiting a CAGR of 8.2 % during the forecasts period.

The Asia Pacific Luxury Travel Market size was valued at USD 292.36 billion in 2023 and is projected to reach USD 520.87 billion by 2032, exhibiting a CAGR of 8.6 % during the forecasts period. Recent developments include: In December 2022, TUI Group’s TUI Care Foundation launched the TUI Colourful Cultures Programme to protect the cultural heritage of Kenya and Turkey. This is a significant way of protecting the natural environment and empowering lives in these travel destinations, building on the potential of tourism as a force for good , In October 2022, Lindblad Expeditions announced the name of its next generation all-suite National Geographic Islander II at the Galápagos Islands. The ship features a Science Hub for guests to observe the exploration and conservation work carried out by the scientists on board. .