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PUBLISHER: Grand View Research | PRODUCT CODE: 1433685
PUBLISHER: Grand View Research | PRODUCT CODE: 1433685
U.S. Luxury Travel Market Size, Share & Trends Analysis Report By Tour (Customized & Private Vacations, Safari & Adventure), By Age Group (Millennial, Generation X), By Booking Mode, By Region, And Segment Forecasts, 2024 - 2030
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U.S. Luxury Travel Market Growth & Trends:
The U.S. luxury travel market is anticipated to reach USD 634.27 billion by 2030 and it is projected to grow at a CAGR of 8.1% from 2024 to 2030, according to a new report by Grand View Research, Inc. There is a growing and robust demand for customized luxury travel experiences. According to a survey conducted by Virtuoso in 2022, 68% of luxury travel advisors noted that their clients are going to great lengths to prioritize privacy, opting for extended vacations and allocating more resources. This includes arrangements such as booking private jets, islands, and villas, as well as engaging guides with specialized knowledge aligned with their specific interests.
An increasing number of travelers in U.S. are opting for tours of their preferred destinations due to the desire to learn more about the place that they are visiting. Luxury travelers often prefer customized and private tours to general tour packages for unique and highly personal experiences. The post-pandemic trends of private tours due to concerns for health and safety are driving the market growth.
Travelers are drawn to the diverse traditions and cultures of other countries. They are keen to explore the diverse performing arts, handicrafts, ceremonies, and cuisines. Such experiences inspire cultural interaction, encouraging conversation, understanding, and promoting harmony. Luxury travelers in the U.S. exhibit a trend of meticulous vacation planning, often arranging accommodations and dining experiences well in advance. The Travel Trends 2023 study found that 51% of U.S. travelers are now booking their vacations far in advance, a marked departure from previous years.
More than a third of this demographic cited fear of price inflation as a primary motivator for securing travel plans early. This shift suggests that consumers are becoming increasingly cautious as costs rise and are taking proactive steps to ensure an affordable travel experience.
Key players offer a range of curated experiences, from VIP events to adventurous excursions, enhancing a brand's appeal and distinguish it within the competitive market. For instance, in December 2022, Kensington Tours Ltd introduced a collection of insider-style VIP experiences designed around high-profile events. This included the opportunity to attend a Hollywood VIP after-event called 'The Party' and experience the world's biggest auto race in Las Vegas from the pit lane of the team paddock.
U.S. Luxury Travel Market Report Highlights:
- Based on tour, the culinary travel & shopping segment is expected to witness substantial CAGR during the forecast period. Travelers typically engage in activities like taking cooking classes, retracing historical culinary journeys, embarking on wine, beer, and spirits trails, participating in food fairs and festivals, and visiting food production facilities and processing centers for exploratory purposes
- Based on age group, the millennial segment is expected to witness substantial CAGR during the forecast period from 2024 to 2030. Millennials prioritize experiences over material possessions, valuing the memories and personal growth that luxury travel can provide. Millennials are, hence, shifting their focus from traditional offerings to a wider range of compelling traveling experiences
- Based on booking mode, the online travel agencies segment is expected to witness substantial CAGR during the forecast period from 2024 to 2030. Online platforms provide a comprehensive array of stay options for vacation rentals. These platforms serve as a hub for listing a diverse range of accommodations catering to different traveler preferences
Product Code: GVR-4-68040-180-9
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation& Scope
- 1.2. Market Definition
- 1.3. Information Procurement
- 1.3.1. Purchased Database
- 1.3.2. GVR's Internal Database
- 1.3.3. Secondary Sources & Third-Party Perspectives
- 1.3.4. Primary Research
- 1.4. Information Analysis
- 1.4.1. Data Analysis Models
- 1.5. Market Formulation & Data Visualization
- 1.6. Data Validation & Publishing
Chapter 2. Executive Summary
- 2.1. Market Snapshot
- 2.2. Segment Snapshot
- 2.3. Competitive Landscape Snapshot
Chapter 3. U.S. Luxury Travel Market Variables, Trends & Scope
- 3.1. Market Lineage Outlook
- 3.2. Industry Value Chain Analysis
- 3.2.1. Booking Mode Trends & Outlook
- 3.2.2. Profit Margin Analysis
- 3.3. Market Dynamics
- 3.3.1. Market Driver Analysis
- 3.3.2. Market Restraint Analysis
- 3.3.3. Industry Challenges
- 3.3.4. Industry Opportunities
- 3.4. Industry Analysis Tools
- 3.4.1. Porter's Five Forces Analysis
- 3.5. Market Entry Strategies
Chapter 4. Consumer Behavior Analysis
- 4.1. Demographic Analysis
- 4.2. Consumer Trends & Preferences
- 4.3. Factors Influencing Buying Decisions
- 4.4. Consumer Tour Adoption Trends
- 4.5. Observations & Recommendations
Chapter 5. U.S. Luxury Travel Market: Tour Estimates & Trend Analysis
- 5.1. Tour Movement Analysis & Market Share, 2023 & 2030
- 5.2. U.S. Luxury Travel Market Estimates & Forecast, By Tour, 2018 to 2030 (USD Billion)
- 5.2.1. Customized & Private Vacations
- 5.2.1.1. Market Estimates & Forecasts, 2018 to 2030 (USD Billion)
- 5.2.2. Safari & Adventure
- 5.2.2.1. Market Estimates & Forecasts, 2018 to 2030 (USD Billion)
- 5.2.3. Cruises, Yachting and Small Ship Expeditions
- 5.2.3.1. Market Estimates & Forecasts, 2018 to 2030 (USD Billion)
- 5.2.4. Celebration Journeys
- 5.2.4.1. Market Estimates & Forecasts, 2018 to 2030 (USD Billion)
- 5.2.5. Culinary Travel & Shopping
- 5.2.5.1. Market Estimates & Forecasts, 2018 to 2030 (USD Billion)
- 5.2.6. Others
- 5.2.6.1. Market Estimates & Forecasts, 2018 to 2030 (USD Billion)
- 5.2.1. Customized & Private Vacations
Chapter 6. U.S. Luxury Travel Market: Age Group Estimates & Trend Analysis
- 6.1. Age Group Movement Analysis & Market Share, 2023 & 2030
- 6.2. U.S. Luxury Travel Market Estimates & Forecast, By Age Group, 2018 to 2030 (USD Billion)
- 6.2.1. Millennial
- 6.2.1.1. Market Estimates & Forecasts, 2018 to 2030 (USD Billion)
- 6.2.2. Generation X
- 6.2.2.1. Market Estimates & Forecasts, 2018 to 2030 (USD Billion)
- 6.2.3. Baby Boomers
- 6.2.3.1. Market Estimates & Forecasts, 2018 to 2030 (USD Billion)
- 6.2.4. Silver Hair
- 6.2.4.1. Market Estimates & Forecasts, 2018 to 2030 (USD Billion)
- 6.2.1. Millennial
Chapter 7. U.S. Luxury Travel Market: Booking Mode Estimates & Trend Analysis
- 7.1. Booking Mode Movement Analysis & Market Share, 2023 & 2030
- 7.2. U.S. Luxury Travel Market Estimates & Forecast, By Booking Mode, 2018 to 2030 (USD Billion)
- 7.2.1. Direct Booking
- 7.2.1.1. Market Estimates & Forecasts, 2018 to 2030 (USD Billion)
- 7.2.2. Online Travel Agencies
- 7.2.2.1. Market Estimates & Forecasts, 2018 to 2030 (USD Billion)
- 7.2.3. Concierge Services
- 7.2.3.1. Market Estimates & Forecasts, 2018 to 2030 (USD Billion)
- 7.2.1. Direct Booking
Chapter 8. U.S. Luxury Travel Market - Competitive Landscape
- 8.1. Recent Developments & Impact Analysis by Key Market Participants
- 8.2. Company Categorization
- 8.3. Company Market Share Analysis
- 8.4. Company Heat Map Analysis
- 8.5. Strategy Mapping
- 8.6. Company Profiles
- 8.6.1. Abercrombie & Kent USA, LLC
- 8.6.1.1. Company Overview
- 8.6.1.2. Financial Performance
- 8.6.1.3. Tour Benchmarking
- 8.6.1.4. Strategic Initiatives
- 8.6.2. Lindblad Expeditions
- 8.6.2.1. Company Overview
- 8.6.2.2. Financial Performance
- 8.6.2.3. Tour Benchmarking
- 8.6.2.4. Strategic Initiatives
- 8.6.3. Scott Dunn Ltd.
- 8.6.3.1. Company Overview
- 8.6.3.2. Financial Performance
- 8.6.3.3. Tour Benchmarking
- 8.6.3.4. Strategic Initiatives
- 8.6.4. Brownell Travel
- 8.6.4.1. Company Overview
- 8.6.4.2. Financial Performance
- 8.6.4.3. Tour Benchmarking
- 8.6.4.4. Strategic Initiatives
- 8.6.5. All Roads North
- 8.6.5.1. Company Overview
- 8.6.5.2. Financial Performance
- 8.6.5.3. Tour Benchmarking
- 8.6.5.4. Strategic Initiatives
- 8.6.6. Kensington Tours Ltd.
- 8.6.6.1. Company Overview
- 8.6.6.2. Financial Performance
- 8.6.6.3. Tour Benchmarking
- 8.6.6.4. Strategic Initiatives
- 8.6.7. Tully Luxury Travel
- 8.6.7.1. Company Overview
- 8.6.7.2. Financial Performance
- 8.6.7.3. Tour Benchmarking
- 8.6.7.4. Strategic Initiatives
- 8.6.8. Black Tomato
- 8.6.8.1. Company Overview
- 8.6.8.2. Financial Performance
- 8.6.8.3. Tour Benchmarking
- 8.6.8.4. Strategic Initiatives
- 8.6.9. Pique Travel Design
- 8.6.9.1. Company Overview
- 8.6.9.2. Financial Performance
- 8.6.9.3. Tour Benchmarking
- 8.6.9.4. Strategic Initiatives
- 8.6.10. The Luxury Travel Agency
- 8.6.10.1. Company Overview
- 8.6.10.2. Financial Performance
- 8.6.10.3. Tour Benchmarking
- 8.6.10.4. Strategic Initiatives
- 8.6.1. Abercrombie & Kent USA, LLC
Product Code: GVR-4-68040-180-9
List of Tables
- Table 1 US luxury travel market estimates and forecast, by tour (USD Billion)
- Table 2 US citizens' engagement in adventure activities, 2022
- Table 3 Customized & private vacations market estimates and forecast, 2018 - 2030 (USD Billion)
- Table 4 Safari & adventure market estimates & forecast, 2018 - 2030 (USD Billion)
- Table 5 Cruises, yachting and small ship expeditions market estimates and forecast, 2018 - 2030 (USD Billion)
- Table 6 Celebration journeys market estimates and forecast, 2018 - 2030 (USD Billion)
- Table 7 Culinary travel & shopping market estimates and forecast, 2018 - 2030 (USD Billion)
- Table 8 Other tours market estimates and forecast, 2018 - 2030 (USD Billion)
- Table 9 US luxury travel market estimates & forecast, by age group (USD Billion)
- Table 10 US luxury travel market estimates & forecast, for millennial, 2018 - 2030 (USD Billion)
- Table 11 US luxury travel market estimates & forecast, for generation X, 2018 - 2030 (USD Billion)
- Table 12 US luxury travel market estimates & forecast, for baby boomers, 2018 - 2030 (USD Billion)
- Table 13 US luxury travel market estimates & forecast, for silver hair, 2018 - 2030 (USD Billion)
- Table 14 US luxury travel market estimates & forecast, by booking mode (USD Billion)
- Table 15 US luxury travel market estimates & forecast, for direct booking, 2018 - 2030 (USD Billion)
- Table 16 US luxury travel market estimates & forecast, for online travel agencies, 2018 - 2030 (USD Billion)
- Table 17 US luxury travel market estimates & forecast, for concierge services, 2018 - 2030 (USD Billion)
- Table 18 Recent developments & impact analysis, by key market participants
- Table 19 Company market share, 2023 (Value % share)
- Table 20 Company heat map analysis
- Table 21 Companies adopting partnerships
- Table 22 Companies adopting expansions
- Table 23 Companies adopting service differentiation
- Table 24 Companies engaged in acquisitions
List of Figures
- Fig. 1 US luxury travel market segmentation
- Fig. 2 Information procurement
- Fig. 3 Primary research pattern
- Fig. 4 Primary research approaches
- Fig. 5 Primary research process
- Fig. 6 Market Snapshot
- Fig. 7 Segment Snapshot
- Fig. 8 Competitive Landscape Snapshot
- Fig. 9 Home Fragrance market value, 2023 (USD Billion)
- Fig. 10 US luxury travel market - Industry value chain analysis
- Fig. 11 US luxury travel market dynamics
- Fig. 12 US luxury travel market: Porter's analysis
- Fig. 13 Factors affecting buying decisions
- Fig. 14 US luxury travel market, by tour: Key takeaways
- Fig. 15 US luxury travel market, by tour: Market share, 2023 & 2030
- Fig. 16 Customized & private vacations market estimates and forecast, 2018 - 2030 (USD Billion)
- Fig. 17 Safari & adventure market estimates & forecast, 2018 - 2030 (USD Billion)
- Fig. 18 Cruises, yachting and small ship expeditions market estimates and forecast, 2018 - 2030 (USD Billion)
- Fig. 19 Celebration journeys market estimates and forecast, 2018 - 2030 (USD Billion)
- Fig. 20 Culinary travel & shopping market estimates and forecast, 2018 - 2030 (USD Billion)
- Fig. 21 Other tours market estimates and forecast, 2018 - 2030 (USD Billion)
- Fig. 22 US luxury travel market, by age group: Key takeaways
- Fig. 23 US luxury travel market, by age group: Market share, 2023 & 2030
- Fig. 24 US luxury travel market estimates & forecast, for millennial, 2018 - 2030 (USD Billion)
- Fig. 25 US luxury travel market estimates & forecast, for generation X, 2018 - 2030 (USD Billion)
- Fig. 26 US luxury travel market estimates & forecast, for baby boomers, 2018 - 2030 (USD Billion)
- Fig. 27 US luxury travel market estimates & forecast, for silver hair, 2018 - 2030 (USD Billion)
- Fig. 28 US luxury travel market, by booking mode: Key takeaways
- Fig. 29 US luxury travel market, by booking mode: Market share, 2023 & 2030
- Fig. 30 US luxury travel market estimates & forecast, for direct booking, 2018 - 2030 (USD Billion)
- Fig. 31 US luxury travel market estimates & forecast, for online travel agencies, 2018 - 2030 (USD Billion)
- Fig. 32 US luxury travel market estimates & forecast, for concierge services, 2018 - 2030 (USD Billion)
- Fig. 33 US luxury travel market revenue, by region, 2023 & 2030, (USD Billion)
- Fig. 34 Key company categorization
- Fig. 35 Company market share analysis, 2023
- Fig. 36 Strategic framework
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