It is a ranking that should make the tourism industry green with envy.
The very industry, which has seen its margins and supplier commissions shrink year after year, is trying to find a future as earnings face tighter and tighter figures.
And yet, Voyageurs du Monde shows that another path is possible.
Often cited as an example, the tour operator has just been ranked among the 100 European growth leaders.
This ranking is published by the Growth Leaders Observatory, an independent, academic, non-commercial research observatory led by Francesco Castellaneta, professor of strategy and entrepreneurship at SKEMA Business School – Université Côte d’Azur, GREDEG.
“Forty listed French companies have grown their sales, profits, and shareholder returns over three years at the same time.
Vusion, GTT, Sidetrade, Voyageurs du Monde and LISI are among the most notable examples, in very different industries: from connected commerce to LNG transport, from financial software to bespoke travel and aerospace“, commented Francesco Castellaneta, director of the Growth Leaders Observatory.
The very industry, which has seen its margins and supplier commissions shrink year after year, is trying to find a future as earnings face tighter and tighter figures.
And yet, Voyageurs du Monde shows that another path is possible.
Often cited as an example, the tour operator has just been ranked among the 100 European growth leaders.
This ranking is published by the Growth Leaders Observatory, an independent, academic, non-commercial research observatory led by Francesco Castellaneta, professor of strategy and entrepreneurship at SKEMA Business School – Université Côte d’Azur, GREDEG.
“Forty listed French companies have grown their sales, profits, and shareholder returns over three years at the same time.
Vusion, GTT, Sidetrade, Voyageurs du Monde and LISI are among the most notable examples, in very different industries: from connected commerce to LNG transport, from financial software to bespoke travel and aerospace“, commented Francesco Castellaneta, director of the Growth Leaders Observatory.
Voyageurs du Monde: Net income up 62%
Voyageurs du Monde achieves a very honorable 87th place, just ahead of two other tourism players, Valamar Riviera at 90th and Imperial Riviera at 92nd, Croatian operators.
To make it into the top 100, the French tour operator could rely on various economic indicators.
Thus, between 2022 and 2025, it posted revenue growth of 58% and net income growth of 62%. In the same period, its stock market performance rose by 103%, while the share performance in 2026 was up by 12%.
In 2025, Voyageurs du Monde’s revenues came 55% from tailor-made travel, 30% from adventure travel, and 15% from cycling.
The year 2026, marked by conflict, is expected to be less conducive to growth, as indicators have moved downward for several weeks.
The company also owns several accommodations worldwide, such as Satyagraha House, the Johannesburg home where Gandhi stayed in 1908, as well as Villa Nomade, a riad in Marrakech, Villa Bahia in Brazil, not to mention its ship Steam Ship Sudan.
Moreover, two new boats are expected by 2028.
As we revealed to you, in a previous article, the year 2026 marks the true deployment of the Voyageurs du Monde brand internationally. Not only that, but the company is expected to exit the Paris Stock Exchange very soon.
To make it into the top 100, the French tour operator could rely on various economic indicators.
Thus, between 2022 and 2025, it posted revenue growth of 58% and net income growth of 62%. In the same period, its stock market performance rose by 103%, while the share performance in 2026 was up by 12%.
In 2025, Voyageurs du Monde’s revenues came 55% from tailor-made travel, 30% from adventure travel, and 15% from cycling.
The year 2026, marked by conflict, is expected to be less conducive to growth, as indicators have moved downward for several weeks.
The company also owns several accommodations worldwide, such as Satyagraha House, the Johannesburg home where Gandhi stayed in 1908, as well as Villa Nomade, a riad in Marrakech, Villa Bahia in Brazil, not to mention its ship Steam Ship Sudan.
Moreover, two new boats are expected by 2028.
As we revealed to you, in a previous article, the year 2026 marks the true deployment of the Voyageurs du Monde brand internationally. Not only that, but the company is expected to exit the Paris Stock Exchange very soon.
Voyageurs du Monde completes its exit from the Paris Stock Exchange
The operation was announced last July, exactly 20 years after the company’s stock market debut. The exit was scheduled for November 2026. On Wednesday, September 23, another milestone was reached in this direction, as Crowe HAF concluded the fairness of the withdrawal offer from a financial standpoint.
“The Crowe HAF firm, represented by Olivier Grivillers, named as independent expert, delivered on 21 September 2026 its definitive report concluding the financial fairness of the offer’s terms.
According to this report, the price of 180 euros per share matches the value derived from recent equity transactions and carries a premium of 9.8% on the discounted cash flow method and 13.9% over stock market comparables“, explained the Ideal Investisseur site.
The next step is due to take place on 26 October 2026, prior to delisting.
This stock-market exit, as Alain Capestan had explained to us, responds to development goals, but also to the aim of attracting private equity funds.
Due to market constraints, some investors are not interested in this type of company. Now relieved of that burden, and with Certares owning more than 50% of the shares, Voyageurs du Monde is likely to open a new chapter in its history.
“In the medium term, nothing will change, as we will stay for another five years to complete this internationalization effort. After that, we will not remain at the helm forever. At some point, this story will end. We are in a slow process of handing over the business. We have recruited general managers across all structures and operational staff in the finance department, whereas before we handled these roles ourselves. We have structured the company, which has become a group“, the Voyageurs du Monde CEO told us.
“The Crowe HAF firm, represented by Olivier Grivillers, named as independent expert, delivered on 21 September 2026 its definitive report concluding the financial fairness of the offer’s terms.
According to this report, the price of 180 euros per share matches the value derived from recent equity transactions and carries a premium of 9.8% on the discounted cash flow method and 13.9% over stock market comparables“, explained the Ideal Investisseur site.
The next step is due to take place on 26 October 2026, prior to delisting.
This stock-market exit, as Alain Capestan had explained to us, responds to development goals, but also to the aim of attracting private equity funds.
Due to market constraints, some investors are not interested in this type of company. Now relieved of that burden, and with Certares owning more than 50% of the shares, Voyageurs du Monde is likely to open a new chapter in its history.
“In the medium term, nothing will change, as we will stay for another five years to complete this internationalization effort. After that, we will not remain at the helm forever. At some point, this story will end. We are in a slow process of handing over the business. We have recruited general managers across all structures and operational staff in the finance department, whereas before we handled these roles ourselves. We have structured the company, which has become a group“, the Voyageurs du Monde CEO told us.
