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U.S. Luxury Travel Market To Reach $634.27Bn By 2030

U.S. Luxury Travel Market Size To Reach $634.27 Billion By 2030

February 2025 | Report Format: Electronic (PDF)

U.S. Luxury Travel Market Growth & Trends

The U.S. luxury travel market size was estimated at USD 634.27 billion in 2030 and is projected to grow at a CAGR of 8.2% from 2025 to 2030. There is a growing and robust demand for customized luxury travel experiences. According to a survey conducted by Virtuoso in 2022, 68% of luxury travel advisors noted that their clients are going to great lengths to prioritize privacy, opting for extended vacations and allocating more resources. This includes arrangements such as booking private jets, islands, and villas, as well as engaging guides with specialized knowledge aligned with their specific interests.

An increasing number of travelers in U.S. are opting for tours of their preferred destinations due to the desire to learn more about the place that they are visiting. Luxury travelers often prefer customized and private tours to general tour packages for unique and highly personal experiences. The post-pandemic trends of private tours due to concerns for health and safety are driving the market growth.

Travelers are drawn to the diverse traditions and cultures of other countries. They are keen to explore the diverse performing arts, handicrafts, ceremonies, and cuisines. Such experiences inspire cultural interaction, encouraging conversation, understanding, and promoting harmony. Luxury travelers in the U.S. exhibit a trend of meticulous vacation planning, often arranging accommodations and dining experiences well in advance. The Travel Trends 2023 study found that 51% of U.S. travelers are now booking their vacations far in advance, a marked departure from previous years.

More than a third of this demographic cited fear of price inflation as a primary motivator for securing travel plans early. This shift suggests that consumers are becoming increasingly cautious as costs rise and are taking proactive steps to ensure an affordable travel experience.

Key players offer a range of curated experiences, from VIP events to adventurous excursions, enhancing a brand's appeal and distinguish it within the competitive market. For instance, in December 2022, Kensington Tours Ltd introduced a collection of insider-style VIP experiences designed around high-profile events. This included the opportunity to attend a Hollywood VIP after-event called 'The Party' and experience the world's biggest auto race in Las Vegas from the pit lane of the team paddock.

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U.S. Luxury Travel Market Report Highlights

Luxury travel has evolved tremendously since the early 20th century with the emergence of the internet and smartphones
According to the World Travel & Tourism Council (WTTC), the U.S. Travel Association, the Bureau of Transportation Statistics (BTS), and Budget Your Trip
According to sources such as Forbes, The Vacationer, Roller, Press Reader, and Travel Perk, millennials are the most likely to spend significantly on their next trip, with 80% planning substantial travel compared to only 56% of travelers over the age of 50
Customized & private vacations accounted for a revenue share of over 27% in 2024
The use of luxury travel among the age group 41-60 years accounted for a share of about 38% of the overall U.S. luxury travel industry in 2024
Direct booking accounted for a revenue share of over 49% in 2024
The U.S. luxury travel industry is fragmented primarily due to the presence of several globally recognized players as well as regional players