Industry Research

$2.5 Trillion: Hold on for the Luxury Travel Market Boom

News Reports
Posted on July 10, 2019
(Photo via Unsplash user Mindaugas Petrutis)

(Photo via Unsplash user Mindaugas Petrutis)

The global luxury travel market size is expected to reach $2.5 trillion by 2025, expanding at a CAGR (Compound Annual Growth Rate) of 4.6% over the forecast period, according to a new report by Grand View Research, Inc. Increasing disposable income and consumer spending of the middle and upper class, growing demand for the accumulation of travel memories, increase in micro-trips, and emerging tourism and corporate industries all across the globe are expected to drive the market.

Travel Daily Media article here

Related Topics: building your clientele, business opportunities, business trends, client markets, industry trends, luxury market trends, luxury travel, research and trends, retail markets

News Reports News Reports
Comments ( 1 )
  • Pierre Bernard

     | about 9 months ago

    2.5 trillion is of course a serious figure; clearly it takes in the travel market at a global scale, as is mentioned. It's interesting and a little bit uplifting to see a positive forecast. Much is out there now, pondering the problems of Brexit, and the US-China situation. That millennials are driving the growth rate the fastest, as mentioned, is a kind of good news. They would not be the largest contributors however, nor are they said to be here, but they will be one day.

More Stories
Despite concerns about potential disruptors, travelers contniue to embark on new adventures (Photo via Pexels user Matthew Barra)

Luxury Travel Will Surge In 2020

The results of a recent survey reveal an overall positive outlook, despite concerns about political and economic stability.