France is one of the most popular tourist destinations in the world, attracting both European and non-European visitors. France is popular among travelers because of its luxurious accommodations, rich culture, and simple accessibility to amenities such as transportation and security.
In the near future, the luxury travel sector in France is predicted to increase significantly. The surge in people’s desire for distinctive and exotic vacation experiences can be traced to the expansion of this industry. Furthermore, rising middle- and upper-class spending, as well as an increase in people’s desire to spend more time with their families, are some of the causes driving the luxury travel market forward.
For rewarding experiences, they choose distinctive abroad vacations, sailing, and adventure holidays. Work travel has evolved as well, and people now prefer to travel in style on business trips. However, the rise of the luxury travel business is threatened by the shifting economies of many regions. On the contrary, rising aspirations for affluence, along with improved luxury travel affordability, provide opportunities for expansion in the French luxury travel sector.
The luxury travel market is divided into three categories: tour type, age group, and traveler type. Customized and private vacations, adventure and safari, cruise/ship expedition, small group journey, celebration and special event, and culinary travel and shopping are the different types of tours available. The market is divided into four age groups: 21 to 30 years, 31 to 40 years, 41 to 60 years, and above 60 years. Absolute luxury, aspiring luxury, and accessible luxury are the three types of travelers in the luxury travel sector.
According to Allied Market Research’s new study, “Luxury travel market by type of tour, age group, and types of traveler: Opportunity Analysis and Industry Forecast, 2021–2030,” the luxury travel market in France is predicted to grow to 48,777 euros by 2030. According to schengenvisainfo.com, the authority also predicts that the market would increase at a 20.4 percent compound annual growth rate (CAGR) from 2021 to 2030. Particularly, culinary travel and shopping tourism are expected to grow at the fastest rate over the next few years.
France is known for its delectable gourmet cuisine, fine wines, breathtaking architecture, amazing artists, world-class museums, and the annual Tour de France bike race, which attracts millions of spectators from across the world.