The personalized travel and experiences global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Personalized Travel And Experiences Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The personalized travel and experiences market size has grown rapidly in recent years. It will grow from $123.53 billion in 2023 to $144.45 billion in 2024 at a compound annual growth rate (CAGR) of 16.9%. The growth in the historic period can be attributed to the growing trend of online bookings for travel, the rise in demand for unique and exotic holiday experiences, the emergence of new travel destinations across the globe, the rise in disposable income of people, and rising international tourist arrivals.
The personalized travel and experiences market size is expected to see rapid growth in the next few years. It will grow to $271.48 billion in 2028 at a compound annual growth rate (CAGR) of 17.1%. The growth in the forecast period can be attributed to significant growth in loyalty programs, increased focus on health and safety, rising interest in experiential travel, growth of social media influence, and increased personalization in hospitality. Major trends in the forecast period include technology integration, custom travel packages, AI-driven recommendations, virtual travel planning, and customized group travel.
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Scope Of Personalized Travel And Experiences Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Personalized Travel And Experiences Market Overview
Market Drivers –
The rising international tourist arrivals are expected to propel the growth of the personalized travel and experience market going forward. International tourist arrivals are the count of overseas visitors coming to a country for leisure, business, or other reasons who stay for at least one night. The rise in enhanced accessibility of travel, improved technology, and transportation have made traveling easier and more affordable. Personalized travel experiences boost international tourist arrivals by aligning with individual preferences and interests, resulting in unforgettable trips that motivate tourists to explore new locations. For instance, in February 2024, according to the International Trade Administration, a US-based government resource, the overall number of international visitors to the United States is expected to rise to 77.7 million in 2024, an increase of 10.4 million, or 15.4%, from the 67.3 million visitors recorded in 2023. Therefore, rising international tourist arrivals are driving the personalized travel and experience market.
Market Trends –
Major companies operating in the personalized travel and experiences market are developing artificial intelligence-based personalized travel guides to offer tailored travel recommendations and enhance the overall customer experience. An AI-powered travel guide customizes travel recommendations based on your unique preferences using artificial intelligence. For instance, in September 2023, SmartGuide, a Czech Republic-based digital audio guide platform, launched SmartGuide AI. This innovation transforms a traveler’s phone into a customized guide, enhancing the tourism experience by suggesting destinations and activities based on individual preferences. The AI model, trained by SmartGuide, analyzes content and user interactions to create personalized profiles, offering tailored recommendations that appear on the home screen, within destinations, and in search results.
The personalized travel and experiences market covered in this report is segmented –
1) By Service Type: In-Flight Personalization, Cruise Lines Personalization, Adventure Travel, In-Hotel Personalization, Other Personalization
2) By Age Group: Millennial, Generation X, Baby Boomers, Other Age Groups
3) By Purpose: Leisure, Business
4) By Mode Of Booking: Online Travel Agency (OTA) Platform, Offline
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Regional Insights –
Asia-Pacific was the largest region in the personalized travel and experiences market in 2023. The regions covered in the personalized travel and experiences market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the personalized travel and experiences market are Delta Air Lines Inc., Carnival Corporation, Koninklijke Luchtvaart Maatschappij N.V. (KLM), Expedia Group Inc., Airbnb Inc., easyJet plc, Best Western International Inc., Abercrombie & Kent Ltd., Kensington Tours Ltd., Virgin Hotels Group Limited, EXO Travel Co Ltd., Butterfield & Robinson Inc., Jacada Travel Ltd., Geographic Expeditions Inc. (GeoEx), Authentic Vacations, Black Tomato Ltd., Artisans of Leisure, Classic Journeys LLC, Cox & Kings Limited, Elevation Travel & Tours Inc.
Table of Contents
1. Executive Summary
2. Personalized Travel And Experiences Market Report Structure
3. Personalized Travel And Experiences Market Trends And Strategies
4. Personalized Travel And Experiences Market – Macro Economic Scenario
5. Global Personalized Travel And Experiences Market Size and Growth
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32. Global Personalized Travel And Experiences Market Competitive Benchmarking
33. Global Personalized Travel And Experiences Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Personalized Travel And Experiences Market
35. Personalized Travel And Experiences Market Future Outlook and Potential Analysis
36. Appendix
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