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Honeymoon Tourism Market Trends

  • Report ID: GMI11682
  • Published Date: Oct 2024
  • Report Format: PDF

Honeymoon Tourism Market Trends

Online travel agencies (OTAs) such as Booking.com, Expedia, and Airbnb have made honeymoon planning easier and more accessible. These platforms offer competitive prices, reviews, and customized honeymoon packages, allowing couples to plan their trips without a travel agent. OTAs help grow the market by making it simple for couples to explore, compare, and book their honeymoons online. This ease of access expands the customer base and increases spending, as couples can easily find and personalize their travel experiences.

 

Companies are introducing new booking platforms to helps couples enhance their honeymoon travel. For instance, in July 2024, Honeymoons.com launched its new booking site, book.honeymoons.com. This platform is designed for honeymooners and romantic travelers, allowing couples to package their flights, hotels, and airport transfers at top romantic resorts. After booking, each couple is paired with a honeymoon travel agent for exceptional customer support, ensuring a memorable travel experience. The platform also features five exclusive destinations known for their romantic and luxurious settings.

 

Honeymoon destinations, especially beach and tropical spots, often depend on specific seasons. Bad weather, such as monsoons or hurricanes, during peak times can disrupt travel plans, causing cancellations and fewer bookings. This seasonal reliance leads to fluctuations in demand and revenue, as many places count on certain periods for peak tourism. Unexpected weather or natural disasters can hurt the profitability of destinations that depend on good weather. To mitigate these risks, destinations can diversify their offerings, improve infrastructure, and develop marketing strategies targeting off-peak seasons.

Authors: Preeti Wadhwani, Aishwarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of honeymoon tourism reached USD 121.3 billion in 2023 and is projected to grow at a CAGR of 6.1% between 2024 and 2032, driven by the rising disposable income among couples.

The 25-40 years age group dominated the market in 2023, accounting for around 70% of the market share. This segment is expected to exceed USD 130 billion by 2032.

The beach honeymoon segment held around 30% of the market share in 2023.

The North America market accounted for over 33% of the market share in 2023 and is expected to exceed USD 55 billion by 2032.

Major players include Abercrombie & Kent, Airbnb, Booking.com, Expedia, Inc., Flight Centre Travel Group Limited, MakeMyTrip Limited, Marriott International Inc., Royal Caribbean International, Sandals Resorts, and Thomascook.in.

Honeymoon Tourism Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 20
  • Tables & Figures: 280
  • Countries covered: 21
  • Pages: 220
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