New report, titled, “Luxury Travel Market by Type of Traveler (Absolute Luxury, Aspiring Luxury, and Accessible Luxury), Age Group (Millennial, Generation X, Baby Boomers, and Silver Hair), and Type of Tour (Customized & Private Vacations, Adventure & Safari, Cruise/Ship Expedition, Small Group Journey, Celebration & Special Events, and Culinary Travel & Shopping): Global Opportunity Analysis and Industry Forecast, 2019–2026″ was published today. According to the report, the global luxury travel market garnered $891.1 billion in 2018, and is expected to reach $1,614.6 billion by 2026, growing at a CAGR of 7.9% from 2019 to 2026.

The adventure and safari segment held the largest share in the global luxury travel market in 2018, accounting for more than two-fifths of the total share, and is estimated to maintain its leadership status during the forecast period. This is due to inclination toward transformation and engaged activities. On the other hand, the culinary travel and shopping segment is expected to register the largest growth rate with a CAGR of 9.7% from 2019 to 2026, owing to surge in outbound travel, eagerness for gaining unique dining experiences in various countries, and organization of many festivals and events. Source : ENT News