DUBLIN, Dec. 20, 2022 /PRNewswire/ — The “Global Luxury Travel Market Size, Share & Industry Trends Analysis Report by Tour, Age Group (Baby Boomers, Generation X, Millennial and Silver Hair), Regional Outlook and Forecast, 2022-2028” report has been added to  ResearchAndMarkets.com’s offering.

The Global Luxury Travel Market size is expected to reach $1,574 billion by 2028, rising at a market growth of 6.3% CAGR during the forecast period.

Exclusive and one-of-a-kind experiences, and highly individualized services, are linked with luxury travel. The sector is being driven by rising expenditure by affluent tourists who want to see undiscovered places and have novel experiences. The industry has been developing as a result of the rising trend of short vacations as well as the worldwide expanding tourist industry.

Given that spending on art, restaurants, culture, guides, and athletic events by luxury travelers is essential to the local economies of the places they visit, luxury travel plays a significant role in the distribution of wealth around the world. Travelers are searching for flexible schedules that combine entertainment and relaxation in order to build their own special experiences.

Numerous tourists, especially wealthy ones, are drawn to the growing popularity of cruises, yachts, and small ships. One of the most prominent customers in this market is thought to be High Net Worth Individuals (HNWIs). As a result, businesses in the sector have…