HOW BIG IS THE LUXURY TRAVEL MARKET?

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According to a study by Amadeus, luxury travelers make up 5% of international tourists, but account for more than 25% of global tourism revenue.

The global luxury travel market size was valued at USD 2,509.71 billion in 2024. The market is projected to grow from USD 2,716.76 billion in 2025 to USD 4,827.68 billion by 2032, exhibiting a CAGR of 8.56% during the forecast period. North America dominated the luxury travel market with a market share of 306.39% in 2024.

Luxury travel generally refers to first-class and tailor-made experiences that focus on exclusivity, luxurious comfort, personalized service and enhanced privacy options. It often includes high-end accommodation options such as business class flights or private jets, luxury cruises and safaris, five-star hotels and private villas. Today, traditional perceptions of luxury travel need to be updated due to the rapid evolution of the industry. Not all luxury travelers are extremely wealthy. 35% of the luxury market consists of a growing segment with net assets of between $100,000 and $1 million. This group is younger and more willing to allocate a large portion of their wealth to luxury travel.

Luxury travel preferences vary according to wealth level;

  • HNWIs (between $1 million and $5 million):
  • They prefer boutique travel agencies.
  • Privacy and privilege are priorities.
  • Exotic destinations are preferred.

VHNWIs (between $5 million and $30 million):

  • Prefers large, comfortable suites.
  • Loves destination experiences with local ambiance.
  • Less concerned with hotel brands.

UHNWIs (over $30 million):

  • Prefers quiet and personalized luxury.
  • Uses unique, hard-to-reach destinations and private air transportation.

Luxury travel enthusiasts are not uniform. Although they spend generously while traveling, they are not open to spending on everything. There are significant differences between those who prefer visible brands and those who value loyalty programs. Some spend heavily on certain parts of the trip (e.g. helicopter tours,

gastronomic experiences), while others may be more economical in other parts.

 

According to this research, a more nuanced and personalized strategy should be adopted instead of traditional stereotypes in the marketing strategy for this segment.

is revealed.

LUXURY ACCOMMODATION MARKET SIZE AND GROWTH RATE IN SOME SEGMENTS

Global expectations in the luxury leisure and hospitality sector by wealth segment

The net worth of the group who want to travel luxuriously is between 10,000 USD and 1 million USD, high net worth travelers are between 1 million USD and 5

million USD, very high net worth travelers are between 5 million USD and 30 million USD, and ultra high net worth travelers

The net worth of those who travel is over 30 million USD.

 

Source: AKTOB June Bulletin

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