For this report, we undertook primary and secondary research in association with Tourism Economics, Amadeus Travel Intelligence, Connections Events, The Telegraph and various industry experts. Approaches include: analysing tourism Economics estimations of the number of outbound luxury trips from each region between 2014 and the present using an arrival definition , and projected growth patterns until 2025. To compare the growth in overall travel with the growth in luxury travel, luxury traveller were defined as those with an annual household income of more than $350,000, and bookings arrivals order costs more than $3000 per person made by these traveller were deemed as luxury trips.
Luxury travel today is defined less by thread count and Michelin stars and more by access to the people, places, and experiences that represent all that is authentic about a destination. There’s no denying that comfort factors still apply and high standards of accommodation and dining will always feature on the luxury traveler’s wish list. However, today’s luxury traveler seeks more depth of understanding and immersion into the local culture than ever before. People don’t just want to see – they want to participate. The sales process is also critical and whilst the online proposition can be an asset in terms of booking more simple arrangements, clients looking for luxury experiential travel require a deep level of sophisticated knowledge and confidence during the sales process.
The Adventure Travel segment accounted for about 71.12% of the overall Luxury Safari Tourism market revenue, by tour type in 2018, as this is identified as the most popular vacation option among young and middle age group travelers. In addition, Personalized Vacations aimed at Safari would witness the fastest growth, registering a CAGR of 8.6% during the forecast period. An increasing number of Luxury Safari Tourism are indulging in these tours as they enable these travelers to experience the finest local delicacies and also buy some of the most exquisite handicrafts. These trips are getting popular among travelers of all age groups, especially the millennials 21 – 30 years.
The millennial segment is projected to hold the highest market share in the overall Luxury Safari Tourism market, by age group, as they have been identified as the highest travel spenders. However, it has been identified that only 5-10% of marketing is targeted at this traveler segment. Luxury Safari Tourism market has huge growth potential and would see immense demand from the emerging markets. Exposure to social media, growing disposable income, and easy visa availability are some of the factors which are propelling the growth of the market. Nowadays, Luxury Safari Tourism are seeking unique traveling experience, thus opting for exotic and unexplored destinations.
According to this study, over the next five years, the Luxury Safari Tourism market will register an 8.3% CAGR in terms of revenue, the global market size will reach US$ 1677.9 million by 2024, from US$ 1126.3 million in 2019. In particular, this report presents the global revenue market share of key companies in the Luxury Safari Tourism business, shared in Chapter 3.
This report presents a comprehensive overview, market shares and growth opportunities of Luxury Safari Tourism market by product type, application, key companies, and key regions.
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This study considers the Luxury Safari Tourism value generated from the sales of the following segments:
Segmentation by product type: breakdown data from 2014 to 2019 in Section 2.3; and forecast to 2024 in section 10.7.
Adventure Travel
Personalized Vacations
Segmentation by application: breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 10.8.
Millennial
Generation X
Baby Boomers
Others
This report also splits the market by region: Breakdown data in Chapter 4, 5, 6, 7 and 8.
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Spain
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report: Breakdown data in in Chapter 3.
Wilderness
TUI Group
&Beyond
Thomas Cook Group
Abercrombie & Kent Ltd
Micato Safaris
Singita
Cox & Kings Ltd
Great Plains
Gamewatchers Safaris
Scott Dunn
Backroads
Rothschild Safaris
Butterfield & Robinson
Travcoa
Zicasso
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key players and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
Research objectives
To study and analyze the global Luxury Safari Tourism market size by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.
To understand the structure of Luxury Safari Tourism market by identifying its various subsegments.
Focuses on the key global Luxury Safari Tourism players, to define, describe and analyze the value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Luxury Safari Tourism with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market growth potential, opportunities, drivers, industry-specific challenges and risks .
To project the size of Luxury Safari Tourism submarkets, with respect to key regions along with their respective key countries .
To analyze competitive developments such as expansions, agreements, new product launches and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.
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