An ever-increasing number of holidaymakers are spending intensely on the greatest luxurious hotels. With a 48 % over the most recent five years, extravagance travel has developed twice as fast as every other kind of tourism types, which developed by 24%. A sum of 172 billion euros was spent on global luxury travel a year ago. This implies for remote travel each eighth euro was spent on extravagance hospitality products.
Standards of Luxury Travel
Luxury tourism choices are subjective. For one voyager, it could be a private multimillion-dollar journey around the Arctic on an eye-catching yacht. For another, it could be the consolation of having their dietary necessities naturally provided food for all through their whole vacation and a bespoke planner closet sitting tight for them in their lodging room – without them asking. For a few, it could have their most loved Michelin-starred gourmet chef flown in to set up a supper in a Bedouin tent in the Sahara. Curating something that interests to them on a particular, individual level that goes over a voyager’s “standards” is vital to the following section of luxurious travel.
Where is the Luxury Travel Market Heading?
- Luxury travel is growing faster than overall travel
- North America and Western Europe account for 64% of global outbound luxury trips, despite making up only 18% of the world’s population
- Asia Pacific’s luxury travel market will see faster overall growth than Europe’s from 2011-2025 but will decelerate from 2015-2025
The future of luxury travel includes five core trends that tap into the human desire to feel unique, and to access luxury on your own terms but not at the expense of others or the environment. Consumers have a growing desire to broaden their personal horizons, and at the same time “to find purpose and cultivate empathy for others while doing so.”
That’s why smart brands will offer “individualized and transformative forms of luxury. Travel professionals should “shape experiences around traveler’s emotions and help them discover new aspects of their own personalities in the process,” to offer a personal transformative experience, and one that’s uniquely theirs.
The future of luxury travel incorporates five center trends that take advantage of the individual want to feel extraordinary, and to access luxury all alone terms however not to the detriment of the world. Luxury travelers want to widen their own points of view, and in the meantime “to discover reason and develop sympathy for others at the same time.”
That is the reason keen brands will offer “individualized and transformative types of luxury. Travel experts should “shape experiences around voyager’s feelings and enable them to find new parts of their own identities all the while,” to offer an individual transformative experience, and one that is uniquely theirs.