GENERAL

Customised Holidays Market is Forecasted to be Appraised at US$ 356.43 Billion by 2032

The customised holidays market is anticipated to increase at a high CAGR of 13% 2022 – 2032, reaching a value of US$ 356.43 Bn by 2032.

ith the rapid evolution of the travel industry along with a rise in disposable income, a new class of global travellers has emerged who don’t mind to pay more for their travel, but vie for a memorable experience while travelling as per their individual tastes and likes and dislikes. It is for such a class of travellers that the travel industry has come up with the idea of customised holidays.

Customised holidays are designed to suit the tastes and needs of a particular individual traveller or a group of travellers where they are the ones who decide the places they are going to visit, the duration of stay at each place, even the type of food they want to have and the hotel they want to stay in. Customised holidays are tailor made to suit the preferences of travellers unlike guided tours where everything is pre-decided and pre-fixed.

Customised Holidays: Drivers and Restraints

A rising affluent and middle class is giving rise to a new type of travellers who seek personalised experiences suited to their tastes and preferences, giving rise to customised holidays.

Rising disposable incomes and economic growth in the world are the major drivers for the rising preference of and inclination towards customised holidays. The main restraint to the spread of customised holidays is the high costs associated with it that all travellers cannot afford.

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Customised Holidays: Description

Tailor-made holidays or customised holidays are popular in the tourism and travel sector as they cater to the individual tastes and demands of travellers and don’t follow the philosophy of one size fits all, which is the idea on which packaged tours and guided tours work, where everything is decided in advance.

In a customised holiday, on the other hand, everything is decided by the traveller and the tour schedule is fixed as per the choices of the travellers themselves. Travellers send an initial request for proposal, in which they contact the chosen travel company even eight to nine months before the date of actual travel.

The traveller gives the travel dates, number of persons in the group, length of the journey, and the places that the traveller wants to see. Based on this information, the travel company prepares a draft itinerary and discusses the details with the traveller and also gives a rough cost estimate.

Based on subsequent discussions between the traveller and the travel company, and taking into consideration the special requests made by the traveller, the final travel itinerary is finalised and the customer is ready to enjoy a customised holiday.

A planning fee is charged by the travel company, which is automatically credited to the final payments made by the travellers for their trip. It is to be noted that safaris, cruises and other specialised trips may require a higher planning fee.

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The report offers a 360° view – bringing to the fore key drivers, restraints, opportunities, and challenges prevailing in the sector. To offer readers actionable insights, detailed information on historical trends, current scenario, and future projections is provided in the report.

The report specifically focusses on the leading companies operating in this sector, highlighting their key developmental strategies. A holistic analysis of the leading players is highlighted to help decision makers understand the overall competitive landscape.

Key Segments Profiled in the Customised Holidays Market Survey

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East and Africa

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