Research Methodology – Luxury Travel Market
At Straits Research, we adopt a rigorous 360° research approach that integrates both primary and secondary research methodologies. This ensures accuracy, reliability, and actionable insights for stakeholders. Our methodology for the Luxury Travel Market comprises the following key stages:
Market Indicator & Macro-Factor Analysis
Our baseline thesis for the Luxury Travel Market is developed by integrating key market indicators and macroeconomic variables. These include:
Factors considered while calculating market size and share
- The number of luxury travelers domestically and internationally.
- The average amount spent by these travelers on flights, accommodations, dining, and activities.
- The number of luxury travel agencies and service providers in the market.
- Investments in hospitality and tourism infrastructure.
- Travel frequency - how often people travel in a year and the average duration of their stays.
- Market segmentation - types of luxury travel, such as adventure, culinary, cruise, wellness, etc.
- The number of business and first-class travelers.
- Market capacity - potential market growth considering the number of high-net-worth individuals.
- Current and potential competition in the luxury travel market.
- Economic factors such as GDP, spending power of consumers, currency exchange rates, inflation, etc.
Key market Indicators
- Year-over-year growth in the number of luxury travelers.
- Changes in the share of luxury travel relative to the overall travel market.
- Trends in the spending patterns of luxury travelers.
- Growth rates of different market segments - e.g. wellness tourism, luxury cruising.
- Increased investments in luxury travel service providers.
- Market proliferation of luxury travel providers.
- Current and forecasted economic indicators impacting luxury travel (GDP, currency exchange rates, etc).
Growth trends
- Rising demand for experiential and personalized travels.
- Increase in solo and women-only luxury travel.
- Growth in luxury adventure travels.
- Integration of technology in luxury travel - VR, AR, AI, etc.
- Rise of sustainable and eco-friendly luxury travels.
- Growth in wellness tourism - luxury spas, retreats, etc.
- Trends in travel destinations - emerging luxury destinations, trends in types of accommodations (e.g. luxury villas, boutique hotels).
- The increasing role of social media and influencers in driving luxury travel trends.
Secondary Research
Our secondary research forms the foundation of market understanding and scope definition. We collect and analyze information from multiple reliable sources to map the overall ecosystem of the Luxury Travel Market. Key inputs include:
- Annual reports, investor presentations, SEC filings
- Company press releases and product launch announcements
- Public executive interviews and earnings calls
- Strategy briefings and M&A updates
- Country-level industry associations and trade bodies
- Government dossiers, policy frameworks, and official releases
- Whitepapers, working papers, and public R&D initiatives
- Relevant Associations for the Luxury Travel Market
- Broker reports and financial analyst coverage
- Paid databases (Hoovers, Factiva, Refinitiv, Reuters, Statista, etc.)
- Import/export trade data and tariff databases
- Sector-specific journals, magazines, and news portals
- Global macroeconomic indicators and their cascading effect on the industry
- Demand–supply outlook and value chain analysis
- Consumer behaviour, adoption rates, and commercialization trends
Primary Research
To validate and enrich our secondary findings, we conduct extensive primary research with industry stakeholders across the value chain. This ensures we capture both qualitative insights and quantitative validation. Our primary research includes:
- Key Opinion Leader (KOL) Engagements
- Structured interviews with executives, product managers, and domain experts
- Paid and barter-based interviews across manufacturers, distributors, and end-users
- Discussions with stakeholders to validate demand-supply gaps
- Group discussions on emerging technologies, regulatory shifts, and adoption barriers
- Cross-verification of market sizing and forecasts with industry insiders
- Capturing business perspectives on growth opportunities and restraints
Data Triangulation & Forecasting
The final step of our research involves data triangulation ensuring accuracy through cross-verification of:
- Demand-side analysis (consumption patterns, adoption trends, customer spending)
- Supply-side analysis (production, capacity, distribution, and market availability)
- Macroeconomic & microeconomic impact factors
- Time-series analysis
- Regression and correlation studies
- Baseline modeling
- Expert validation at each stage
Outcome
The outcome is a comprehensive and validated market model that captures:
- Market sizing (historical, current, forecast)
- Growth drivers and restraints
- Opportunity mapping and investment hotspots
- Competitive positioning and strategic insights
Available for purchase with detailed segment data, forecasts, and regional insights.
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