(MENAFN- EIN Presswire) EINPresswire/ -- Growing inclination of people toward unique & exotic holiday experiences, rising expenditure of middle and upper middle-class, increasing trend of online bookings, and rising social media & its impact on the travel industry drive the growth of the France luxury travel market. Based on type of tour, the adventure & safari segment accounted for the major share in 2020. Based on type of traveler, on the other hand, the absolute luxury segment would remain lucrative by 2030.

According to the report published by Allied Market Research, the France luxury travel market was estimated at $4.21 billion in 2020 and is expected to hit $53.63 billion by 2030, registering a CAGR of 20.4% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.

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Growing inclination of people toward unique & exotic holiday experiences, rising expenditure of middle and upper middle-class, increasing trend of online bookings, and rising social media & its impact on the travel industry drive the growth of the France luxury travel market. On the other hand, varying socio-economic conditions and impact of natural parameters restrain the growth to some extent. However, emerging new destinations and demand for enhanced service standards are expected to create lucrative opportunities in the industry.

The key market players analyzed in the France luxury market report include Cox and Kings Ltd, TUI group, Voyageurs Du Monde, Prestige Voyages, Abercrombie & Kent Ltd, Kuoni, Voyages Confidential, Ponant, Asia, and Beachcomber market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.

The growth of the France luxury travel market is attributable to large number of luxury travel companies switching to new age technologies. This is to boost the luxury travel status and delivering guests with state of the art facilities. Oculus rift-virtual reality device, Amazon eco-artificial intelligence, Go pro-wearable technology, and DaVinci 3D printing are some of the advanced technologies launched for the customers to enhance their travel experience. Growth in the number of HNIs population and rise in aspirations of young and rich millennial are expected to majorly foster the market growth in the region. Surge in interest of people to explore new places and to have unique travel experiences have encouraged market players to offer trips that connect the travelers to the local culture of the destination and explore the unknown acquaintance of the place and its people. However, changing socio-economic conditions threatens the France luxury travel market growth.

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Key Findings Of The Study

By type of tour, the adventure & safari segment dominated the France luxury travel market, accounting for majority of the share in 2020.
Based on the age group, the 41-60 years segment dominated the overall market
Based on the type of traveler, absolute luxury travel segment is projected to contribute with highest market share during the forecast time period.
The culinary travel and shopping segment in the France luxury travel market is anticipated to grow at the highest CAGR throughout the forecast.

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