Potential Growth in Luxury Travel Market 2022 – Hotel Magazine


According to GlobalData, the COVID-19 pandemic has spurred an inflow of customer vacation traits in the luxurious journey sector. This involves an predicted increase in personal aviation products and services at the large conclusion of the current market, distant working from abroad and desire for personal buyouts of huge villas or boutique hotels.

The foremost info and analytics company’s most current research observed that as luxury travellers resume travelling domestically and internationally in the aftermath of the COVID-19 pandemic, they may possibly get started to find far more immersive and exceptional ordeals.

“With travellers decided to make up for misplaced time, 2022 could see an raise in holiday break budgets for luxurious travellers, with an uptick in demand for ‘once in a lifetime’ adventures,” stated Hannah Free, Vacation and Tourism Analyst at GlobalData. “According to a GlobalData poll, when respondents ended up asked if their holiday budgets experienced altered thanks to COVID-19, 16 per cent reported their budgets were ’a lot bigger than pre-COVID-19’. In comparison, 12 percent of respondents stated their budgets ended up ‘slightly larger than pre-COVID-19’.”

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Inspite of the need for luxurious journey, a escalating demographic of socially acutely aware, higher-internet-truly worth customers are rejecting overt shows of prosperity in favour of discreet and responsible usage. Their solution to luxury is fuelled by moral residing, artisanship, authenticity and sustainability. For these travellers, who seek out self-fulfilment as a result of greener vacation while seeking to do excellent for the planet, experience is the new currency.

If luxury vacation brand names disregard this client pattern, it could set them at immense hazard of whole disconnect from an audience looking for sustainable solutions.

While the pandemic has altered lots of aspects of luxurious travel, numerous defining features nonetheless set the sector apart from mass-current market tourism, which include hyper-personalisation, exclusivity, distinctive ordeals, intuitive services, and the at any time-important ingredient of ‘human touch’.


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