Africa tourism

The luxury tourism market will reach $82 billion by 2030, according to Global Market Insights Inc.

The major players in the luxury travel market are Audley Travel, Travelopia, Backroads, G Adventures, Jet2 Holidays, TUI Group, thomas cook (India) Ltd., Silversea Cruises and Abercrombie & Kent USA, LLC.

SELBYVILLE, Del., August 9, 2022 /PRNewswire/ — The luxury tourism market is expected to register a evaluation of $82 billion by 2030as noted in a study by Global Market Insights Inc. The report indicates that strong demand for exotic safari experiences will be a key growth driver for the luxury travel industry, particularly in the Middle East and Africa. The region has developed as a leading hub for tourists, offering exotic animal viewing experiences.

To keep endangered species safe, government agencies focus on conservation programs. Environmental biodiversity has made MEA an optimal safari destination to experience wildlife up close, creating a rampant expansion of the luxury tourism market.

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The popularity of tourist destinations is determined to some extent by political stability and internal security factors, independent of the availability of resources. Strikes, wars and protests influence tourism development and visitor engagement, impacting global luxury travel statistics.

The adventure and sports travel segment is expected to exceed approximately $12 billion by 2030, due to the growing emphasis on developing effective strategies to support the growth of sport tourism.

There has been a growing trend of solo travellers, especially those seeking rejuvenation and wellness. According to American Express Travel’s 2022 Global Travel Trends Report, 58% of travelers opt for a solo trip to visit their dream destination, driving demand for the luxury travel market.

In terms of generation, the report has segmented the market into Gen Xers, Millennials, Baby Boomers, and others. Among these, the segment of others, which includes people over 60, will exhibit a CAGR of around 15% through 2030. The growing desire to spend free time traveling and the availability of sufficient resources are driving the acceptance of luxury travel among this generation. band.

The report cites the Asia Pacific luxury tourism market accounted for a share of more than 28% in 2021. Strong demand for sophisticated travel experiences and increasing disposable income will increase the APAC market.

Likewise, the consumer shift towards personalized and private vacations will significantly boost market statistics in Latin America. According to the report, the Latin America the size of the luxury tourism industry is expected to reach nearly $200 million by 2030.

The competitive landscape of luxury tourism market includes Audley Travel, Travelopia, Backroads, G Adventures, Jet2 Holidays, TUI Group, thomas cook (India) Ltd., Silversea Cruises and Abercrombie & Kent USA, LLC. These companies engage in business expansion and new product development strategies to maintain their presence in the market.

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Partial chapters of the table of contents (TOC) of the report:

Chapter 2 Executive Summary

2.1 Luxury 360 Tourism Industry0 synopses, 2018 – 2030

2.2 Trade trends

2.3 Regional trends

2.4 Type trends

2.5 Trends in circuit types

2.6 Generational trends

Chapter 3 Overview of Luxury Tourism Industry

3.1 Presentation

3.2 Impact of COVID-19 on the market

3.3 Impact of RussiaUkraine conflict

3.4 Luxury Tourism Industry Ecosystem Analysis

3.5 Technology and innovation landscape

3.6 Regulatory landscape

3.7 Industry impact forces

3.7.1 Drivers of growth

3.7.2 Industry Pitfalls and Challenges

3.8 Analysis of growth potential

3.9 Porter’s analysis

3.10 PESTEL Analysis

About Global Market Insights

Global Market Insights Inc., headquartered in Delaware, in the United States, is a global provider of market research and consulting services; offering syndicated and custom research reports as well as growing consulting services. Our business intelligence and industry research reports provide clients with in-depth insights and actionable market data specially designed and presented to aid in strategic decision-making. These comprehensive reports are designed using proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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SOURCE Global Market Insights Inc.