Research by business data analyst GlobalData indicates high-end
travel demand is on the way back after Covid – but not everything will
be quite the same.
Despite returning demand for luxury travel, GlobalData’s poll of some
of the world’s largest companies found there is a growing demographic
of socially conscious, high-net-worth consumers who are rejecting overt
displays of wealth in favour of “inconspicuous and responsible
As luxury travellers resume travelling both domestically and overseas
in the aftermath of the Covid-19 pandemic, GlobalData predicts they may
begin to seek experiences that are more immersive and more exceptional
than in previous years.
“Their approach to luxury is driven by ethical living, artisanship,
authenticity and sustainability,” said Hannah Free, travel and tourism
analyst at GlobalData.
She said experience is the new currency for these holidaymakers, who
seek self-fulfillment through greener travel and eco holidays, while
wanting to ‘do good’ for people and the planet.
“If luxury travel brands ignore this trend, it could put them at
tremendous risk of total disconnect with an audience who are looking for
sustainable options,” Free added
Free believes travellers are determined to make up for lost time, and
2022 could see an increase in holiday budgets for luxury travellers,
with an uptick in demand for ‘once in a lifetime’ adventures.
“While Covid-19 has changed many aspects of luxury travel, there are
still several defining features which sets the sector apart from mass
market tourism. This includes hyper-personalisation, exclusivity, unique
experiences, intuitive service and the ever important ‘human touch’
element,” Free concluded.