In the posh travel market, there was an inflow of shopper travel developments because of the COVID-19 pandemic. This features a growth in non-public aviation companies on the excessive finish of the market, distant working from abroad places and demand for personal buyouts of huge villas or boutique motels, finds GlobalData.
The main information and analytics firm’s newest report, ‘Luxury Travel Market Trend and Analysis of Traveller Types, Key Destinations, Challenges and Opportunities, 2022 Update’ reveals that as luxurious travellers resume travelling each domestically and overseas in the aftermath of the COVID-19 pandemic, they could start to search experiences which can be extra immersive and extra distinctive than in earlier years.
Hannah Free, Travel and Tourism Analyst at GlobalData, feedback: “With travellers determined to make up for lost time, 2022 could see an increase in holiday budgets for luxury travellers, with an uptick in demand for ‘once in a lifetime’ adventures. According to a GlobalData poll, when respondents were asked if their holiday budgets had changed due to COVID-19, 16% reported that their budgets were ‘a lot higher than pre-COVID-19’, while 12% of respondents stated that their budgets were ‘slightly higher than pre-COVID-19’.”
Despite the demand for luxurious travel, there’s a rising demographic of socially aware, high-net-worth customers who’re rejecting overt shows of wealth in favor of inconspicuous and accountable consumption. Their strategy to luxurious is pushed by moral residing, artisanship, authenticity and sustainability. Experience is the new foreign money for these holidaymakers, who search self-fulfillment by greener travel and eco holidays, whereas wanting to ‘do good’ for individuals and the planet. If luxurious travel manufacturers ignore this development, it might put them at great threat of whole disconnect with an viewers who’re in search of sustainable choices.