The internal luxury travel and tourism market's global revenue, which is based on spending by domestic and international tourists, amounted to nearly 1.4 trillion U.S. dollars in 2023. This figure was expected to increase by 23.4 percent in 2024, reaching an estimated 1.7 trillion U.S. dollars.
The luxury hotel market worldwide
From 1983 to 2023, the global luxury hotel supply, which refers to the number of rooms available in luxury establishments, roughly tripled, peaking at over 1,500 in 2023. Over the same period, the supply of ultra-luxury hotels worldwide experienced a fivefold increase.
What are the preferred activities of affluent vacationers?
According to a global survey conducted in 2024, eating in a fine-dining restaurant and staying in a five or more starred hotel were the preferred holiday activities of affluent consumers, as mentioned by roughly six in 10 respondents. On the other hand, just around 20 percent of the sample had a private transport experience that year.
Revenue of the internal luxury travel and tourism market worldwide from 2019 to 2023, with a forecast until 2029
(in billion U.S. dollars)
Figures refer to the internal luxury travel and tourism industry, which comprises travel expenditures of resident visitors within the country of reference and non-resident visitors during their stay in the country of reference. To estimate the internal luxury and tourism industry, the following four segments were analyzed: hotels, cruises, package holidays, and vacation rentals.
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Statista. (October 18, 2024). Revenue of the internal luxury travel and tourism market worldwide from 2019 to 2023, with a forecast until 2029 (in billion U.S. dollars) [Graph]. In Statista. Retrieved November 08, 2024, from https://www.statista.com/statistics/1407056/market-size-luxury-travel-worldwide/
Statista. "Revenue of the internal luxury travel and tourism market worldwide from 2019 to 2023, with a forecast until 2029 (in billion U.S. dollars)." Chart. October 18, 2024. Statista. Accessed November 08, 2024. https://www.statista.com/statistics/1407056/market-size-luxury-travel-worldwide/
Statista. (2024). Revenue of the internal luxury travel and tourism market worldwide from 2019 to 2023, with a forecast until 2029 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: November 08, 2024. https://www.statista.com/statistics/1407056/market-size-luxury-travel-worldwide/
Statista. "Revenue of The Internal Luxury Travel and Tourism Market Worldwide from 2019 to 2023, with a Forecast until 2029 (in Billion U.S. Dollars)." Statista, Statista Inc., 18 Oct 2024, https://www.statista.com/statistics/1407056/market-size-luxury-travel-worldwide/
Statista, Revenue of the internal luxury travel and tourism market worldwide from 2019 to 2023, with a forecast until 2029 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/1407056/market-size-luxury-travel-worldwide/ (last visited November 08, 2024)
Revenue of the internal luxury travel and tourism market worldwide from 2019 to 2023, with a forecast until 2029 (in billion U.S. dollars) [Graph], Statista, October 18, 2024. [Online]. Available: https://www.statista.com/statistics/1407056/market-size-luxury-travel-worldwide/
