Luxury Tourism Market Expected To Hit $82 Billion By 2030 – Robb Report

Get ready to see serious changes in travel by 2030.

The luxury tourism market is expected to reach a staggering $82 billion valuation in eight years, according to research published by Global Market Insights on August 9.

Safari experiences, particularly in the Middle East and Africa, will be a key growth driver in the industry. The MENA region has become a popular destination for exotic animal viewing due to its biodiversity.

Adventure and sports-focused travel is also expected to exceed $12 billion by 2030. This spike is partly due to the growing number of sports-related packages that allow you to catch the Super Bowl in Miami or venturing overseas to the Australian Open, for example. .

Solo travel is also expected to continue on an upward trajectory. In fact, 58% of travelers today opt for solo trips to dream destinations and thus strengthen the market, according to American Express Travel’s 2022 Global Travel Trends Report.

Solo travel is expected to continue on an upward trajectory.

Courtesy light experiences

The Asia-Pacific luxury tourism market is also booming. It accounted for more than 28% of trips in 2021, according to the report. Demand for premium experiences coupled with increased disposable income in APAC is expected to drive a surge in travel markets in India, Japan and China. The Latin American market, meanwhile, is likely to reach $200 million by 2030 due to the emphasis on bespoke private vacations from Belize to Rio de Janeiro.

The report also looked at the growth of travel within each generation. Interestingly, the “other” segment, which includes people over the age of 60, will grow at a rate of about 15% each year through 2030. The research firm attributes this growth to this generation’s desire to move from free time to travel and “availability of resources” (read: a healthy pension fund).

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