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Travel and hospitality

Buying capacity of baby boomers among factors to grow luxury travel market by $703B in 2027

October 6, 2023

This fall, luxury travelers can indulge in a traditional fondue or raclette at Le Chalet des Etoiles, a Christmas popup exuding a cozy alpine atmosphere decorated with twinkling lights and vintage skis located on the panoramic rooftop of Four Seasons Hotel des Bergues Geneva. Image credit: Four Seasons This fall, luxury travelers can indulge in a traditional fondue or raclette at Le Chalet des Etoiles, a Christmas popup exuding a cozy alpine atmosphere decorated with twinkling lights and vintage skis located on the panoramic rooftop of Four Seasons Hotel des Bergues Geneva. Image credit: Four Seasons

 

By Staff reports

The luxury travel market is estimated to grow by $703.14 billion from 2022 to 2027, rising at a compounded annual growth rate of 11.5 percent.

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MOST READ
  1. Future of luxury goods is AI-powered transformation: report
  2. Future of refrigeration in the luxury home – and what consumers are telling brands
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  4. Luxury brands neglecting cultural venues where more UHNWIs are spending time: report
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  6. Sustainability, hyperpersonalization to disrupt luxury travel industry: report
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