Market Snapshot:
Honeymoons are vacations done by newlyweds shortly after their wedding. In certain cultures, they are a traditional or at least frequent (if private) aspect of wedding celebrations. Honeymoon tourism has become a worldwide phenomenon in the last three to four years, as an authentic and essential aspect of the tourism sector. NTOs, state tourism agencies, and hotels are all cashing in on this popular trend and aggressively tapping into it. The desire for greater service standards has risen as disposable income has increased and upper middle-class spending has increased.
Highlights from Honeymoon Tourism Market Study
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 19.0% |
The key Vendors profiled in the report are Expedia Group (United States), Priceline Group (United States), AAA Travel (United States), Hogg Robinson Group (United Kingdom), American Express Global Business Travel (United States), BCD Travel (Netherlands), Fareportal (United States), Thomas Cook (United Kingdom), JTB Corporation (Japan) and TUI Group (Germany). Additionally, other players that are part of this comprehensive study are Ovation Travel Group (United States), TripAdvisor (United States) and MakeMyTrip (India).
Geographic Breakdown and Segment Analysis
The Global Honeymoon Tourism market presents a comprehensive analysis of the Honeymoon Tourism market by product type (Beach Honeymoons, Safari Honeymoons, Multi-Centre Honeymoons, Minimoon, Ski Honeymoons, City Break Honeymoons, Honeymoon Cruises, Adventure Honeymoons and Others), and by geography (North America, South America, Europe, Asia-Pacific and MEA) along with country level break-up. This section of our report presents a realistic picture of the Global Honeymoon Tourism industry. Investors and Vendors can easily understand the inherent opportunities and challenges for their products in geographical region of interest.
For instance, while the holds majority of market share of the Honeymoon Tourism market
Analyst at AMA have segmented the market study of Global Honeymoon Tourism market by Type, Application and Region.
Influencing Trend:
Emergence of YOLO Honeymoons and Rising Prevalence of Digital Detox Honeymoons
Market Growth Drivers:
Growing Prevalence of Cruising Holidays and Increasing Demand for Safari Honeymoons
Challenges:
Impact on Luxury Tours Due To Coronavirus Pandemic and Stringent Governments Regulation on International Tours
Restraints:
High Cost of International Tours
Opportunities:
Growing Number of Affluent Consumers
Market Developments Activities:
In May 2021 American Express Global Business Travel had announced the acquisition of Egencia, Expedia Group’s corporate travel arm. The acquisition would bring Egencia, a leading digital travel management company, into the GBT family. GBT would continue to invest in the Egencia brand, its people, and technology as part of the world's leading business travel platform.
In June 2023, The Antigua and Barbuda Tourism Authority has unveiled its new honeymoon registry, which is expected to target the growing weddings and honeymoon market. A release from the ABTA said with some of the world’s most romantic and secluded locations, Antigua and Barbuda provide the ultimate setting for dream weddings and honeymoons with all the facilities and expertise available to ensure you that your wedding and/or honeymoon is seamless and stress-free.
The demand for Honeymoon Tourism is increasing. The industry is segmented, but it is predicted to grow as rise in international tours and increase in disposable income, among other factors, drive the market forward. Businesses in this sector face global competition from market leaders who control a large share of the market. Companies are differentiating their products from competition by employing environmentally friendly materials and manufacturing techniques. The Leading Players are engaging in strategic global expansion to maintain their Market Position.
Key Target Audience
Venture and Capitalist, New entrants/investors, Analysts and Strategic Business Partners, Tour Operators, Travel Agents and End-use industries