France The Luxury Tourism Industry is is on Demand - Estimated to reach EUR48m in 2030

The ease of travel is trending up and has been gaining market share in the travel industry, data from analytics service providers have reported.

France The Luxury Tourism Industry is is on Demand - Estimated to reach EUR48m in 2030

The ease of travel is trending up and has been gaining market share in the travel industry, data from analytics service providers have reported.

According to a report released in the name of Allied Market Research titled, " Luxury travel market by type of tour, Age Group, and types of Traveler Opportunity Analysis and Forecast for the Industry, 2021-2030" the France luxury travel market is predicted to increase to EUR48,777 by the year 2030. The report also reports that the market will increase by 20.4 percent in compound annual growth (CAGR) from 2021 until 2030. visaoperations.com reports.

The study's findings highlight that safari and adventure tourism was the most popular in that portion of the France luxurious travel industry, accounting for most of the revenue in 2020. However, the most dominant age group was 41-60 years old.

Based on the type of travelers, absolute luxury travel made up the most market share in the time frame of the forecast, including the next eight years. Shopping and dining tourism in France's luxurious travel market is predicted to expand at the highest CAGR for the duration of the forecast.

A study released by the European Travel Council (ETC) indicates it is the case that France is the most popular destination by international travelers. Particularly, 32 percent of Canadian respondents indicated that they would like to travel to France 55% of Chinese and Japanese travelers, respectively, and 36 percent of Americans.

According to World Travel and Tourism Council (WTTC) statistics, the French travel and tourism sector is predicted to witness the creation of over 60,000 jobs as compared to pre-pandemic levels. This will increase by 2.3 percent. This is equivalent to 2.8 million jobs within the industry overall.

Additionally, the authorities stated that prior to the outbreak of the pandemic the percentage that Europe's Travel and Tourism to its economy were nearly EUR211 billion.

The Global Tourism Organisation further supported these findings, stating that should France continues to relax its COVID-19-imposed restrictions country will receive a EUR182 billion economic contribution in 2022. This is around 13.5 percent less than pre-pandemic levels where no travel restrictions or other problems were in place.

"The world's tourism body is also urging governments to eliminate the restrictions that are a mess and permit international travel with digital options, like COVID, the EU Digital COVID Certificate, which allows travelers to prove their identity in a speedy easy, secure, and simple method," the Organisation released an official statement.

The research also shows that the economy of the country could be at its peak in EUR1.7 trillion due to the contribution of the sector to the economy, which is 12 percent below the pre-pandemic level.


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