Industry Research

Luxury Travel Industry To Reach $1.2 Billion By 2020

Posted on November 30, 2016

Photo via PEXELS user Isabelle Bruce
Photo via PEXELS user Isabelle Bruce
Baby boomers are the leading demographic making up the luxury travel market spend with higher numbers of annual visits, according to Allied Market Research.

The new Luxury Travel Market report shows luxury travel is increasing with a compound annual growth rate of 6.4%, eventually leading the industry to $1.2 billion by 2020. While baby boomers aged 51 to 69 lead the pack, Gen X follows, but is more known for preferring to travel with multiple generations of the family such as kids, parents, and grandparents.

Luxury Daily article here

Related Topics: leisure travel, luxury market trends, research and trends

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