The market is also anticipated to grow faster as digital technology is more adopted. Internet usage is rising, and there are many people using social media platforms, which helps the market expand. Market participants are concentrating on maximising their social media presence to broaden their customer base and improve relationships with existing customers. Utilizing the internet provides a range of options and permits brand comparison. User-generated travel material also has a stronger influence than traditional advertising. Thanks to websites like Instagram and numerous blogging platforms, the popularity of travel storytelling has significantly expanded.
The global Luxury Travel Market was valued at US$ 201.07 billion in 2017, and is expected to register a CAGR of 6.7% in terms of revenue, over the forecast period (2018 – 2026), to reach US$ 353.16 billion by 2026.
Leading Companies in the Luxury Travel Industry:
1. Abercrombie & Kent USA
Since 1962, Abercrombie & Kent USA pioneered a new style of luxury adventure travel. Headquartered in London, England and is operational in more than 30 countries. In October, 2022 Abercrombie & Kent (A&K), the multi-award-winning luxury travel company, has announced the opening of four new Destination Management Companies (DMCs) in Colombia, Namibia, Saudi Arabia and Canada.
2. Absolute Travel
Established in 1992, Absolute Travel & Tours is one of the leading specialist school and group tour operators. The company has headquarters in Essex, England.
3. Inspiring Travel Company
Since 1974 the company specializes in offering tailor-made holidays which include family holidays, honeymoons and cruises, thereby enabling customers to enjoy their vacations in different locations. It has headquarters situated in Chester, England.
4. Cox & Kings Ltd.
Cox & Kings Limited provides tours and travel services worldwide. Cox & Kings Limited was founded in 1758 and is based in Mumbai, India.
5. Travcoa
Since 1954, Travcoa has been a luxury tour operator, paving the way to some of the most remote regions on Earth. It has headquarters situated in Washington, USA.
6. Micato Safaris
Founded in 1966, Felix Pinto, one of Kenya’s most highly regarded farmers, started a luxury safari company. The company has headquarters situated in New York, NY.
7. Scott Dunn Ltd.
Founded in 1986, Scott Dunn Company was initially created as a ski holiday specialist and has since grown into one of the market leaders in luxury travel. The company has headquarters situated in London, United States.
8. Butterfield & Robinson Inc.
Since 1966, Butterfield & Robinson, the world’s premier active travel company, has created experiences of a lifetime. The travel company has headquarters situated in Toronto, Canada.
