About Customized Travel
Customized travel is a trip entirely designed and managed according to the needs and desires of the traveller. This type of travel include private airports, hotels, events, hotel transfers, activities, trains, and privately guided tours. Customised travel helps for traveller to travel any place and any style that traveller want to travel. In customised travel customer take their own time for travelling, with more safety and security.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Companies are renovating their travel marketing strategies to woo a new lot of consumers by collecting the exact information about the prospective customer and sending professional and personalized emails to ignite consumer interest in a particular tour package. These companies use sophisticated marketing tools to segregate the customer's information into segments and then design personalized emails and newsletters to entice tourists, driving growth in the customized and personalized travel market. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Customized Travel market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Easy Jet (Europe), KLM (Europe), Expedia, Inc. (United States), Booking Holdings Inc. (United States), American Express Global Business Travel. (United States), Flight Centre Travel Group Limited. (Australia), Travel Leaders Group. (United States), BCD Travel (Europe), CWT (United States) and Fareportal (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Travel and Transport, Inc. (United States), Frosch International Travel (United States) and OWT (United States).
Segmentation Overview
AMA Research has segmented the market of Global Customized Travel market by , Application (Business, Educational and Other) and Region.
On the basis of geography, the market of Customized Travel has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Travelers, the sub-segment i.e. Solo will boost the Customized Travel market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Period, the sub-segment i.e. 1-3 days will boost the Customized Travel market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Travelling Type, the sub-segment i.e. National will boost the Customized Travel market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Bleisure Travel
Market Growth Drivers:
Growth of Online Booking and Their Software’s., Increasing Social Media Trend That’s Impact on Travel and Tourism Industry and Increased Safety and Security.
Challenges:
Increasing Customer Demand in Destination and Services.
Restraints:
Adverse Impact of Spreading Of COVID-19 and Adverse Changes in General Market Conditions for Travel Services, Including the Effects of Terrorist Attacks, Macroeconomic Conditions, Health Concerns, Natural Disasters Political and other.
Opportunities:
Emerging New Destination and services.
Market Leaders and their expansionary development strategies
In October 2023, GetYourGuide, a leading provider of travel experiences, announced that it had acquired Musement, a similar company based in Europe. This merger is expected to create a global leader in the customized travel market, with a combined reach of over 100,000 activities in over 70 countries. The two companies will continue to operate under their own brands, but they will share resources and expertise to create a more seamless and personalized experience for travelers.
In October 2023, GetYourGuide launched a new platform that allows travelers to create their own customized tours and activities. The platform uses machine learning to suggest activities that are based on the traveler's interests and preferences.
Fluctuations in foreign currency exchange rates and other risks associated with multiple currencies and jurisdictions.
Key Target Audience
High-Net-Worth Individuals, Families, Corporate Travelers, Event Planners and Destination Management Companies, Travel Agencies and Destination Tourism Boards
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.