The customized holidays 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.
Customized Holidays 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 customized holidays market size has grown rapidly in recent years. It will grow from $101.42 billion in 2023 to $114.79 billion in 2024 at a compound annual growth rate (CAGR) of 13.2%. The growth in the historic period can be attributed to rise in solo and group travel, increasing focus on wellness tourism, growing popularity of luxury travel, influence of social media, rising interest in cultural and heritage tourism.
The customized holidays market size is expected to see rapid growth in the next few years. It will grow to $189.1 billion in 2028 at a compound annual growth rate (CAGR) of 13.3%. The growth in the forecast period can be attributed to rising disposable income, growing demand for personalized experiences, increasing internet penetration, growth of the experiential travel, expansion of travel and tourism industry. Major trends in the forecast period include advancements in technology, emergence of travel apps and platforms, support for sustainable travel, advancements in data analytics, availability of niche travel products.
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Scope Of Customized Holidays 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.
Customized Holidays Market Overview
Market Drivers –
The increasing demand for personalized travel experiences is expected to propel the growth of the customized holiday market going forward. Personalized travel refers to customized travel experiences tailored to an individual’s specific preferences, interests, and needs, ensuring a unique and tailored itinerary. Personalized travel is increasing due to growing consumer demand for unique, tailored experiences that cater specifically to individual preferences and interests, enhancing satisfaction and engagement. Customized holidays are required for personalized travel because they provide tailored itineraries and experiences that match individual preferences and needs, ensuring a unique and satisfying travel experience. For instance, in May 2023, according to a report published by the United Nations World Tourism Organization, a Spain-based specialized agency, in the first quarter of 2023, international tourist arrivals surged to 80% of pre-pandemic levels, with around 235 million travelers, more than doubling the figures from the same period in 2022. The tourism sector displayed significant resilience, as revised 2022 data showed over 960 million international tourists traveled abroad last year, representing a recovery of 66% of pre-pandemic levels and highlighting the industry’s ability to rebound and regain its momentum. Therefore, the increasing demand for personalized travel experiences is driving the growth of the customized holiday market.
Market Trends –
Major companies operating in the customized holidays market are developing innovative products, such as travel packages, to offer convenience, cost savings, and a streamlined planning process. Travel packages are bundled arrangements that typically include various components such as transportation, accommodation, and activities, offered together at a set price for a convenient and cohesive travel experience. For instance, in March 2023, MakeMyTrip, an India-based travel company, launched over 130 differentiated holiday packages across 25 European countries. The European travel packages have been expertly curated to meet the evolving preferences of Indian travelers, offering a blend of immersive experiences and flexibility. These packages allow for personalized itineraries while benefiting from economical group rates on flights and hotels. Travelers can choose from a wide range of 10,000 customizable activities, including trips to iconic destinations like Windsor Castle and Pisa, as well as unique experiences such as photo shoots in Paris and Barcelona. Additionally, the packages feature exclusive dinners like the Paris Seine River Dinner Cruise and Prague Evening Cruise, along with convenient car rental options for exploring various European regions.
The customized holidays market covered in this report is segmented –
1) By Type: Adventure Holidays, Luxury Holidays, Wellness Holidays, Other Types
2) By Travelers: Solo Travelers, Couples, Families, Groups
3) By Destination: Domestic, International
4) By Mode Of Stay: Hotel, Resorts
5) By Mode Of Travel: Roadways, Airways, Waterways, Mixed
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Regional Insights –
North America was the largest region in the customized holidays market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the customized holidays market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the customized holidays market are REWE Group, Tui AG, Expedia Group Inc., Airbnb Inc., MakeMyTrip Ltd., Abercrombie & Kent USA LLC, Rainbow World Tours, Audley Travel, Kensington Tours, Cleartrip Private Ltd., SOTC Travel Ltd., Veena World, Cox & Kings Ltd., EaseMyTrip, Butterfield & Robinson Inc., Enchanting Travels, Thomas Cook Group Plc, Original Travel Ltd., Jacada Travel, Zicasso Inc., Scott Dunn Ltd., Yatra Online Private Ltd., Black Tomato Agency, Flamingo Travel And Tours Ltd., Redback Travel Pty Ltd.
Table of Contents
1. Executive Summary
2. Customized Holidays Market Report Structure
3. Customized Holidays Market Trends And Strategies
4. Customized Holidays Market – Macro Economic Scenario
5. Global Customized Holidays Market Size and Growth
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32. Global Customized Holidays Market Competitive Benchmarking
33. Global Customized Holidays Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Customized Holidays Market
35. Customized Holidays Market Future Outlook and Potential Analysis
36. Appendix
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