South Africa Luxury Travel Market Size & Outlook
South Africa luxury travel market, 2017-2030 (US$M)
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South Africa luxury travel market highlights
- The South Africa luxury travel market generated a revenue of USD 22,370.9 million in 2023 and is expected to reach USD 41,487.6 million by 2030.
- The South Africa market is expected to grow at a CAGR of 9.2% from 2024 to 2030.
- In terms of segment, safari & adventure was the largest revenue generating tour in 2023.
- Culinary Travel & Shopping is the most lucrative tour segment registering the fastest growth during the forecast period.
Luxury travel market data book summary
| Market revenue in 2023 | USD 22,370.9 million |
| Market revenue in 2030 | USD 41,487.6 million |
| Growth rate | 9.2% (CAGR from 2023 to 2030) |
| Largest segment | Safari & adventure |
| Fastest growing segment | Culinary Travel & Shopping |
| Historical data | 2017 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Customized & Private Vacations, Safari & Adventure, Cruises, yachting and small ship expeditions, Celebration Journeys, Culinary Travel & Shopping, Luxury Trains |
| Key market players worldwide | TUI AG, Butterfield & Robinson, Lindblad Expeditions Holdings Inc, Exodus Travels, Scott Dunn, Abercrombie & Kent, GeoEx (Geographic Expeditions), Micato Safaris |
Other key industry trends
- In terms of revenue, South Africa accounted for 1.7% of the global luxury travel market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Middle East & Africa, South Africa luxury travel market is projected to lead the regional market in terms of revenue in 2030.
- UAE is the fastest growing regional market in Middle East & Africa and is projected to reach USD 35,075.2 million by 2030.
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Luxury Travel Market Scope
Luxury Travel Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
South Africa luxury travel market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to luxury travel market will help companies and investors design strategic landscapes.
Safari & adventure was the largest segment with a revenue share of 38.05% in 2023. Horizon Databook has segmented the South Africa luxury travel market based on customized & private vacations, safari & adventure, cruises, yachting and small ship expeditions, celebration journeys, culinary travel & shopping, luxury trains covering the revenue growth of each sub-segment from 2017 to 2030.
South Africa serves as a potential tourist destination and therefore contributes a substantial amount of the country’s overall revenue. The tourism sector’s income is mainly driven by caravan parks and luxury camping sites. Consumers’ preference and love for outdoor activities is expected to offer potential opportunities for the luxury travel market in this country.
According to the World Travel and Tourism Council (WTTC) in 2022, the South African Travel and Tourism GDP will drive the national economic recovery over the next decade. The Economic Impact Report (EIR) in 2022 anticipated that the tourism sector would grow at an average rate of 7.6% annually over the next decade.
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Our clientele includes a mix of luxury travel market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Africa luxury travel market , including forecasts for subscribers. This country databook contains high-level insights into South Africa luxury travel market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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South Africa luxury travel market size, by tour, 2017-2030 (US$M)
South Africa Luxury Travel Market Outlook Share, 2023 & 2030 (US$M)
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