Luxury travel and tourism

A Statista DossierPlus on the impact of luxury travel and tourism on the economy

Luxury travel and tourism Travel is an intriguing topic not only from a personal but also from an economic perspective. Global internal tourism revenues amounted to approximately 5.9 trillion U.S. dollars in 2019 and this number is bound to grow as the global travel and tourism industry is forecast to continue its steady growth in the foreseeable future.

However, due to its great business relevance, a certain segment of tourism deserves special attention, namely luxury tourism. The industry designed to satisfy the lavish travel expectations of high net worth individuals has reached a global value of 831 billion U.S. dollars and is currently growing at a faster pace than overall tourism.

After an introduction into the economic relevance of the tourism industry, this DossierPlus presents the global luxury tourism market with special focus on the most trending travel destinations and a forecast for 2023.
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In this study, luxury tourism was defined as all acquisitions of consumer goods, services, and valuables for and during trips by individuals who have a net asset of over one million U.S. dollars. Through a complex analysis taking data on overall tourism and such high net worth individuals into consideration, this DossierPlus gives valuable insight into the luxury tourism industry.

To provide country-specific data as well, the most significant travel destinations per region have been identified. These trending destinations were identified as having the highest total internal tourism revenues in their regions. Thus, this research provides detailed information on the luxury tourism industry of the United States, China, Germany, India, Mexico, Australia, the United Arab Emirates, South Africa, and Morocco.

This DossierPlus also breaks down luxury tourism by domestic and international inbound tourism and reveals from which countries most international tourists arrive from. Furthermore, the statistics reveal the most predominant trends. China and India’s luxury market are forecast to grow most rapidly in the next five years, mostly driven by the growth of the domestic luxury market.

Statista's press release points out further insights from the DossierPlus.

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