Global Personalized Travel and Experiences Market to grow substantially over 2021-2027

November 19, 2021

According to the research report titled, ‘Global Personalized Travel and Experiences Market Size study, by Service Type (In-flight personalization, Cruise lines personalization, Adventure travel, In-hotel personalization and Others), by Mode of Booking (OTA platform and Offline), by Age Group (Millennial, Generation X, Baby boomers and Others), by Purpose (Leisure and Business), and Regional Forecasts 2021-2027’, available with MarketStudyReport, global personalized travel and experiences market is expected to register significant gains during 2021-2027.

Rapid growth of travel and tourism sector and rising penetration of internet services are the major factors aiding the expansion of global personalized travel and experiences market. As per the data released by Statista, the number of internet users across the world is slated to jump from 4.5 billion in 2020 to around 5.3 billion in 2023.

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For the unversed, personalized travel and experiences basically deals with the combined use of tourist information and technology to enable electronic commerce interaction between travelers and service providers. It is basically used to enhance customer experience during the journey and can be done by offering products and service customer preference and interest.

In addition, rising integration of big data analytics, AI, and mobile application in the tourism space is further augmenting industry outlook. On the contrary, global personalized travel and experiences market progress could be hampered by varying socio-economic conditions.

In terms of service type, the marketplace is split into in-flight personalization, adventure travel, cruise lines personalization, in-hotel personalization, and others.

Based on mode of booking the industry is fragmented into OTA platform and offline, whereas, bifurcation by age group includes millennial, generation X, baby boomers, and others.

Regionally speaking, North America, Europe, Latin America, and Asia Pacific are considered to understand the dynamics of this business sphere. Asia Pacific presently holds a major share in terms of market revenue and is anticipated to amass notable gains during 2021-2027 owing to rising internet penetration and rapid development in travel and tourism sector in the region.

Key players operating in global personalized travel and experiences market are Expedia Group Inc., Iberia Lae S.A., Virgin Hotels, Princess Cruises Lines Ltd., Koninklijke Luchtvaart Maatschappij N.V., Easy Jet Plc, Delta Air Lines Inc., Club Family Hotel S.r.l., Carnival Corporation & Plc, and Best Western International Inc.

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