The Europe Luxury Travel Market would witness market growth of 5.0% CAGR during the forecast period (2022-2028).
Peer reviews, 360-degree video tours, as well as clear price comparisons are all provided by these sites, helping passengers plan and book their vacations online. Together with the growing internet penetration, this is giving the businesses a profit outlook and giving them the chance to grow.
The demand for luxury adventure tourism is rising globally as a result of key industry participants collaborating with marketing companies to attract high-value clientele through online marketing. Government agencies in several countries are also promoting tourism activities since it creates job opportunities and benefits local development. It is believed that this would increase adventure tourism's attractiveness on a worldwide scale.
The surge in the number of travelers choosing unusual and exotic vacation spots to escape their busy everyday lives and gain worthwhile experiences might be ascribed to the culinary tourism expansion. Most people choose their travel destination based on private, quiet, tranquil, and exotic regions with strong food culture. Travelers have chosen as their top preferences regions with a wide choice of tasty foods and beverages.
The nations of Europe are crowded onto a relatively small continent. 26 European nations have joined together under the Schengen Agreement to facilitate borderless travel for citizens and visitors. Some countries in the reg do not require a visa to visit these countries, whereas others do. People who are traveling between these nations only need the Schengen visa if they are from a country that requires a visa to enter the Schengen Area. This is further rising the number of visitors in the region.
The Germany market dominated the Europe Luxury Travel Market by Country in 2021; thereby, achieving a market value of $115.5 Billion by 2028. The UK market is exhibiting a CAGR of 4.2% during (2022 - 2028). Additionally, The France market is expected to witness a CAGR of 5.8% during (2022 - 2028).
Based on Tour, the market is segmented into Safari & Adventure, Celebration Journeys, Culinary Travel & Shopping, Cruises, Yachting, & Small Ship Expeditions, Customized & Private Vacations and Others. Based on Age Group, the market is segmented into Baby Boomers, Generation X, Millennial and Silver Hair. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Luxury Travel Market will Hit $1,574 Billion by 2028, at a CAGR of 6.3%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include TUI Group, Lindblad Expeditions Holdings, Inc., Thomas Cook (India) Limited (Fairfax Financial Holdings Limited), Scott Dunn, Abercrombie & Kent USA, LLC, Exodus Travels Limited, Travel Edge, Inc. (Navigatr Group), Butterfield & Robinson, Inc., Geographic Expeditions, Inc. and Micato Safaris.
By Tour
By Age Group
By Country
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