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United States Luxury Travel Market Report by Type of Tour (Customized and Private Vacation, Adventure and Safari, Cruise and Ship Expedition, Small Group Journey, Celebration and Special Event, Culinary Travel and Shopping), Age Group (Millennial (21-30), Generation X (31-40), Baby Boomers (41-60), Silver Hair (60 and above)), Type of Traveller (Absolute Luxury, Aspiring Luxury, Accessible Luxury), and Region 2024-2032
Report Format: PDF+Excel | Report ID: SR112024A21052
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Market Overview:
United States luxury travel market size reached US$ 371.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 768.2 Billion by 2032, exhibiting a growth rate (CAGR) of 8.40% during 2024-2032. The escalating demand for eco-friendly travel destinations, along with the rising number of individuals seeking personalized services and unique adventures, is primarily driving the market growth.
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Report Attribute
|
Key Statistics
|
|---|---|
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Base Year
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2023
|
|
Forecast Years
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2024-2032
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Historical Years
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2018-2023
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Market Size in 2023
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US$ 371.2 Billion |
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Market Forecast in 2032
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US$ 768.2 Billion |
| Market Growth Rate 2024-2032 | 8.40% |
Luxury travel signifies an elevated journey, minimizing inconvenience while maximizing comfort and amenities. Tailored for individuals seeking an exclusive and premium experience, numerous companies specialize in luxury travel services. These offerings extend beyond conventional travel, encompassing personalized and premium facilities that redefine the overall travel experience. From exotic destinations to reliable transportation, plush accommodations, gourmet meals, and complimentary Wi-Fi, every facet is meticulously curated for indulgence. In the contemporary landscape, leading providers go a step further by crafting authentic holiday packages featuring unusual activities, off-the-beaten-track destinations, and round-the-clock services. This approach caters to the evolving preferences of luxury travelers who seek not only opulence but also unique and immersive experiences.
United States Luxury Travel Market Trends:
The luxury travel market in the United States is undergoing transformative changes, driven by key drivers and influenced by prominent trends. One significant driver is the increasing demand for exclusive, personalized experiences, with discerning travelers seeking unique and bespoke journeys. Besides this, technological innovation is another crucial driver across the country, with luxury travel embracing cutting-edge advancements. Moreover, from seamless mobile bookings to virtual concierge services, technology enhances convenience and efficiency for luxury travelers who value a sophisticated and hassle-free experience. Apart from this, luxury travelers are increasingly seeking eco-friendly destinations, accommodations, and experiences, prompting the industry to prioritize sustainable practices, which is bolstering the market growth across the United States. The rise of remote work has also influenced luxury travel trends, with providers offering curated workcation packages. This trend allows affluent travelers to combine business with leisure, enjoying luxurious accommodations while seamlessly managing professional commitments. Furthermore, the rising number of enhanced transportation infrastructures and the growing presence of multinational corporations (MNCs) are propelling the need for business travel experiences in the U.S. This, in turn, is anticipated to augment the market growth across the country over the forecasted period.
United States Luxury Travel Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2024-2032. Our report has categorized the market based on type of tour, age group, and type of traveller.
Type of Tour Insights:
- Customized and Private Vacation
- Adventure and Safari
- Cruise and Ship Expedition
- Small Group Journey
- Celebration and Special Event
- Culinary Travel and Shopping
The report has provided a detailed breakup and analysis of the market based on the type of tour. This includes customized and private vacation, adventure and safari, cruise and ship expedition, small group journey, celebration and special event, and culinary travel and shopping.
Age Group Insights:
- Millennial (21-30)
- Generation X (31-40)
- Baby Boomers (41-60)
- Silver Hair (60 and above)
A detailed breakup and analysis of the market based on the age group have also been provided in the report. This includes millennial (21-30), generation X (31-40), baby boomers (41-60), and silver hair (60 and above).
Type of Traveller Insights:
- Absolute Luxury
- Aspiring Luxury
- Accessible Luxury
The report has provided a detailed breakup and analysis of the market based on the type of traveller. This includes absolute luxury, aspiring luxury, and accessible luxury.
Regional Insights:
- Northeast
- Midwest
- South
- West
The report has also provided a comprehensive analysis of all the major regional markets, which include Northeast, Midwest, South, and West.
Competitive Landscape:
The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.
United States Luxury Travel Market Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Units | US$ Billion |
| Scope of the Report | Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment:
|
| Type of Tours Covered | Customized and Private Vacation, Adventure and Safari, Cruise and Ship Expedition, Small Group Journey, Celebration and Special Event, Culinary Travel and Shopping |
| Age Groups Covered | Millennial (21-30), Generation X (31-40), Baby Boomers (41-60), Silver Hair (60 and above) |
| Type of Travellers Covered | Absolute Luxury, Aspiring Luxury, Accessible Luxury |
| Regions Covered | Northeast, Midwest, South, West |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 3699 Five User License: US$ 4699 Corporate License: US$ 5699 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Questions Answered in This Report:
- How has the United States luxury travel market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the United States luxury travel market?
- What is the breakup of the United States luxury travel market on the basis of type of tour?
- What is the breakup of the United States luxury travel market on the basis of age group?
- What is the breakup of the United States luxury travel market on the basis of type of traveller?
- What are the various stages in the value chain of the United States luxury travel market?
- What are the key driving factors and challenges in the United States luxury travel market?
- What is the structure of the United States luxury travel market and who are the key players?
- What is the degree of competition in the United States luxury travel market?
Key Benefits for Stakeholders:
- IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the United States luxury travel market from 2018-2032.
- The research report provides the latest information on the market drivers, challenges, and opportunities in the United States luxury travel market.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the United States luxury travel industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.
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