The luxury travel landscape has been transformed, driven by digital and sustainable innovation, changing consumer values and wealth expansion. It is vital to understand the new face of luxury travellers that is ever-more diverse, demanding and younger. Looking through the lenses of lifestyles and values, purpose and wellness, we highlight what matters most where hi-tech and high touch are the new gold standard for luxury, delivered seamlessly with empathy, offering exclusivity and authenticity.
This report comes in PPT.
Luxury travel takes many forms, encompassing a myriad of travel experiences from private jets, yachts, expedition cruises, tented safaris to wellness retreats, whether extravagant ultra luxury or quiet understatement. Luxury Seekers are also more diverse, younger and from emerging markets, requiring an inclusive approach by luxury travel brands to foster a sense of belonging.
Luxury Seekers are not just wealthy, they are the most digitally-savvy travellers, demanding a seamless and personalised service, while seeking expertise gained from engaging with real people. Adopting cutting-edge technology such as Generative AI for service delivery is critical, while elevating the human touch through impeccably trained local employees.
Hospitality is the new battleground for luxury brands where lifestyle brand extensions continue to be popular, and hoteliers equally look for complementary verticals such as real estate and residences as the blended travel/digital nomad trend opens up new revenue opportunities.
Luxury travel is much more carbon intensive than mass travel with a larger footprint. Luxury travel brands must act with purpose to protect the environment, local communities and biodiversity. Accepting responsibility to leave a positive legacy for future generations should be integral to all luxury brands’ values. It is time to declare a climate emergency, and work towards certifiable and measurable targets. Luxury Seekers can and will pay more for sustainability.
Holistic wellness is increasingly the default for luxury travel, embracing physical, emotional and dietary requirements, personalised thanks to the latest diagnostics technologies for biohacking. Luxury travel brands can empower their customers to live their optimal life and build lifelong emotional connections, drive brand advocacy and repeat custom.
Travel encompasses several categories including tourism flows, lodging, travel modes, in-destination spending and booking.
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