Global Custom Travel Services Market Overview:
The global custom travel services market is expected to grow at a sluggish pace during the forecast period, according to the AMA study. The growth in worldwide tourism and the rising demand for destination weddings across the world are expected to be some of the major factors aiding into the growth for the market. However, the market is expected to witness a slight decline in the growth during the next few years but it is again expected to rise with a healthy pace after the COVID-19 pandemic is over.
- Growing Worldwide Travel & Tourism Sector
- Growing Demand for Managed Services by Customers
- Growing Demand from Destination Weddings Across the World
- The Outbreak of COVID-19 Pandemic is one of the Major Restraints for the Market as Most of the Industries have been Facing Economic Crisis Across the World
- Opportunities Across the Asia Pacific Region
- The Downfall of Travel & Tourism Sector at Current Situation Due to Reduced Demand for Domestic & International Travel is one of the Major Challenge for the Market
The vendors in this market are majorly focusing on providing innovative services in order to cater to the market's demands to remain competitive in the global market. According to the recent global industry crisis due to outbreak of COVID-19 is expected to be one of the major challenges for the vendors of this market as different markets have been shut down for an ambiguous period of time.
Some of the key players profiled in the report are Lane Travel Design (United States), Custom Travel Services Inc (United States), Journy (United States), Custom Travel Solutions (United States), Zicasso (United States), Salt & Wind (United States), Quantum Travel Services (Tanzania), Custom Asia Travel (Vietnam) and Inspirato (United States). Analyst at AdvanceMarketAnalytics see United States Vendors to retain maximum share of Global Custom Travel Services market by 2025. Considering Market by End Users, the sub-segment i.e. Personal Users will boost the Custom Travel Services market.
Stringent Worldwide Government Regulations Regarding Shutting Down Cities Across Different Countries of the World to Avoid the Spread of COVID-19
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The top-down and bottom-up approaches are used to estimate and validate the size of the Global Custom Travel Services market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Custom Travel Services market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.