Luxury tourism: a booming industry with million-dollar projections 

02-02-25

Luxury tourism has established itself as a key pillar in the global tourism industry, with spending reaching US$1.4 trillion in 2024 and projected to reach US$2.2 trillion by 2030, maintaining an annual growth rate of 8.1%. 

China leads this market with projections of more than 27 million annual luxury trips by 2030, and an average spend per trip of around $14,500. By 2024, revenue generated by Chinese luxury tourism is estimated to exceed $290 billion. This phenomenon reflects not only increasing wealth in the Chinese population, but also a shift in preferences towards exclusive and personalized experiences. 

The United States ranks as the second largest source of luxury tourism, with approximately 18 million luxury trips per year and an average spend of $9,500 per trip. Preferred destinations for Americans include European cities such as Paris, London and Rome, as well as exotic destinations in Asia and the Caribbean. This market values comfort, safety and high-end services, such as luxury hotels, exclusive cruises and private transportation.