![]() ![]() ![]() Suppliers need to invest in service, design, quality and uniqueness at all times. Luxury travel is a high reward, high investment sector. The growth of river and ocean cruising and private yachting with everything on board taken care of.ĭespite emerging trends, luxury travel is still a place for unabashedly individualistic and hedonistic experiences. It is also a place where around two-thirds of all luxury travellers still rely on specialist advisors and travel agents to make their high-end trips a reality.Andrews or regency hotels in Sydney or London attractive to younger luxury travellers, especially those from China and India Traditions re-imagined, making ‘old’ products like golf at St.(This has led to a rise in multi-generational cruising and luxury private holiday rentals together.) A new focus on family life in travel, as rich baby boomers recompense for working hard much of their life by spending more time with children and grandchildren.The rise of responsible travel such as activities that support economic, social or environmental sustainability – for example, El Nido Resort in the Philippines or Song Saa Island in Cambodia.A new commitment to learning and enrichment such as studying photography with a famous cameraman or attending Thought Leadership sanctuaries where you can combine cerebral workouts with surfing, skiing and diving.Making the most of ephemeral events such as solar eclipses or even staying at temporary hotels at music festivals.the Galapagos, Iceland, the Antarctic) to replenish body and soul A growth in mindfulness and wellbeing as HNWIs turn to nature (e.g.A new focus on experiential travel at the expense of hedonism and display.A demographic widening away from the dominance of the 40-60 year old age group, especially in emerging luxury markets such as China and India.The luxury market is now defined by nine key trends: Since the global financial crisis in 2008, there has been a new emphasis on privacy and less ostentatious displays of wealth. America and Asia Pacific have approximately five million HNWIs each and Europe around 4.5 million, according to a Credit Suisse Global Wealth Report. The Asia Pacific region now has the fastest accumulation of new High Net Worth Individuals (HNWIs) in the world, growing at around 10% per year. ![]()
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