Growing inclination of people toward unique & exotic holiday experiences, rising expenditure of middle and upper middle-class, increasing trend of online bookings, and rising social media & its impact on the travel industry drive the growth of the France luxury travel market. Based on type of tour, the adventure & safari segment accounted for the major share in 2020. Based on type of traveler, on the other hand, the absolute luxury segment would remain lucrative by 2030.
Portland, OR, Oct. 26, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the France luxury travel market was estimated at $4.21 billion in 2020 and is expected to hit $53.63 billion by 2030, registering a CAGR of 20.4% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Growing inclination of people toward unique & exotic holiday experiences, rising expenditure of middle and upper middle-class, increasing trend of online bookings, and rising social media & its impact on the travel industry drive the growth of the France luxury travel market. On the other hand, varying socio-economic conditions and impact of natural parameters restrain the growth to some extent. However, emerging new destinations and demand for enhanced service standards are expected to create lucrative opportunities in the industry.
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The tourism industry was hit the hardest during the pandemic, and the France luxury travel market was also not an exception in this regard.
However, as the global situation is getting better, the market is anticipated to revive soon.
The France luxury travel market is analyzed across type of tour, age group, and type of traveler.
Based on type of tour, the adventure & safari segment accounted for the major share in 2020, holding more than two-fifths of the total market. The customized & private vacation segment, however, would grow at the fastest CAGR of 22.4% throughout the forecast period.
Based on age group, the 41-60 years segment generated the highest share in 2020, accounting for around one-third of the total market. The 21-30 years segment, on the other hand, is projected to manifest the fastest CAGR of 22.1% from 2021 to 2030. .
Based on type of traveler, the absolute luxury segment held the lion’s share in 2020, garnering more than two-fifths of the total market. The same segment is also expected to cite the fastest CAGR of 20.8% by the end of 2030. The other segments studied in the report include aspiring luxury and accessible luxury.
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The key market players analyzed in the France luxury market report include Cox and Kings Ltd, TUI group, Voyageurs Du Monde, Prestige Voyages, Abercrombie & Kent Ltd, Kuoni, Voyages Confidential, Ponant, Asia.Fr, and Beachcomber.These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
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