According to the recent research report titled ‘Luxury Tourism Market Size By Type (Customized & Private Vacations, Celebration Journeys, Adventure & Sport Travel, Safari, Cruises Yachting & Small Ship), By Tour Type (Solo, Group), By Generation (Millennial, Generation X, Baby Boomers), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 – 2027’, available with Market Study Report, global luxury tourism market is anticipated to grow substantially over 2021-2027.
 

Surging demand for unique and exotic safari experiences, rising inclination towards customized & private vacations, and increasing number of affluent customers are the key factors driving global luxury tourism market growth.
 

Request sample copy of this Report: https://www.marketstudyreport.com/request-a-sample/3793258/
 

Moreover, growing trend of cruising holidays, surging expenditure on luxury tourism by baby boomers, and expanding millennial population are also adding significant traction to industry progression.
 

Speaking of recent developments, the tourism sector has faced severe disruptions owing to governments imposing lockdowns as a response to sudden outbreak of COVID-19 pandemic in 2020. Extension of lockdown periods, international travel restrictions, and decisions regarding monetary policies are expected to have a negative influence on the worldwide tourism industry in the coming years.
 

More importantly, lockdowns have been a source of concern for countries that rely on tourism to generate a significant portion of their national revenue, especially in light of the tremendous healthcare spending due to the rapid spread of the coronavirus.
 

With respect to type, cruises yachting & small ship segment is projected to grow substantially over the study period, owing to increasing number of young people undertaking group trips to islands.
 

Based on generation type, global luxury tourism industry share from generation X segment is anticipated to experience considerable growth in the coming years, creditable to rising purchasing power of Gen X, which is motivating them to go on luxury travels in groups with friends or colleagues who are part of their COVID bubble.
 

Geographically, Asia Pacific luxury tourism industry is slated to amass high profits by the year 2027, attributable to growing support of government organizations for expanding travel industry in economies like South Korea, Australia, Singapore, and India.
 

Top companies impacting global luxury tourism market trends are Zicasso Inc., TUI Group, Travelopia Group, Thomas Cook (India) Ltd. (TCIL), Silversea Cruises Ltd., Scott Dunn Ltd., Quasar Expeditions, National Geographic Partners LLC, Micato Safaris, Lindblad Expeditions, Jet2 Holidays, Inspiring Travel Company, Greaves Tours LLC, G Adventures, and Classic Journeys among others.