Global luxury tourism growth driven by China, the U.S. and Germany

06-09-24

Luxury tourism has established itself as a key sector in the global tourism industry. According to projections, this segment will reach a value of US$1.4 trillion by 2024 and will continue to grow at an annual rate of 8.1% until 2030. This growth is strongly driven by tourists from China, the United States and Germany, countries that are positioned as the main issuers of luxury travelers.

China, the absolute leader in the luxury tourism market, stands out for its impressive figures. Chinese luxury travelers are expected to make more than 27 million trips annually by 2030, with an average spend per trip of around $14,500. In addition, estimates indicate that by 2024 this country will generate more than $290 billion in luxury tourism revenue. This data reflects not only the growing wealth of the Chinese population, but also a change in the preferences of high-net-worth travelers, who are increasingly looking for exclusive, personalized and high-quality experiences.