22nd May 2023

The rise of luxury travel!

The luxury travel market in India is growing rapidly, driven by rising disposable income, a growing middle class, and an increasing desire for unique travel experiences.

Market.us estimates that the size of the global luxury travel market will exceed USD 2,762 billion by 2032 and is expected to grow at a CAGR of 7.8 percent between 2023 and 2032.

“Hotels and resorts are responding to the demands of today’s luxury travelers by offering personalized experiences, incorporating sustainable practices, and providing technology and experiential travel opportunities,” added Nirav Akshay Oza, CEO of EFCEE Hotels – A Leela Worldwide Venture, in a recent interview.

Here’s how the hotel industry can gear towards meeting the demands as there is a rise in the luxury travelers:

• Multi-generational travel with the exclusivity
• Health & wellness
• Authentic experiences
• Sustainable tourism
• Remote destinations with private jet travel

 
To know more about the promising growth and ever-increasing demand basket of luxury travel, read here!