New trends in luxury tourism
Travel in first or business class, palaces or 4-star hotels, prestigious destinations.... Is this still the definition of luxury tourism today?
Luxury can no longer be decreed, it obeys new rules. Thus a luxury establishment is no longer only linked to an idea of comfort but to exceptional and original things. This may be in an extraordinary setting in the heart of nature, or in an astonishing place cut off from the world, or immersed in a booming capital, luxury tourism can also be in the inner circle where privileged clienteles meet among themselves... Let's hope this exclusive experience provokes a unique emotion!
To best meet these demanding travellers, professionals today focus on exclusivity and innovation. In France, Le Meurice and its suite Penthouse Belle Etoile offers a breathtaking setting and an incredible terrace with a 360° view, Le Plazza Athénée and its haute couture spirit offer more and more innovative tailor-made services, Le groupe Barrière promotes Foodtech in its 120 bars and restaurants and Le Ritz Paris offers a unique experience with its Spa and signature treatments.
According to the latest studies conducted by the Statista Institute, the international tourism sector, should reach around 5900 billion dollars by the end of this year. The particularly dynamic luxury tourism segment alone could reach $831 billion. This growth is expected to continue over the next five years with an estimated growth of 7.3% compared to 6.4 for the entire tourism market.
The top luxury destinations? According to the Virtuoso Luxury Report, the destinations most sought after by wealthy customers in 2019 are of course Italy, France and then South Africa. At the top of the emerging destinations is Japan, followed by Croatia and Iceland. Luxury customers who go with their families choose Italy first, then Mexico and Hawaii. As for the Millenials, they favour Italy, Thailand and Iceland.
Luxury tourism trends? Tailor-made! Travellers' expectations for personalization have never been higher. They no longer hesitate to impose their preferences: room number, precise table in a great restaurant, reservation of a great vintage, particular location on a boat... In terms of transport, luxury customers are increasingly demanding: Optimized services, smooth waiting times at airports, private helicopter transfers.
The Millenials' expectations? The perfect photos to feed their Instagram content! "The Millenials and Generation Z are gaining in economic influence and represent a growing proportion of luxury travel consumers, adventure, innovation and sustainability have also become vital as they contribute to a high-end image on social networks," says Friedrich Schwandt, Founder and Managing Director of Statista.
Another trend observed in luxury tourism is the synergy between sectors of activity. As Thibaut de La Rivière, director of Sup de luxe, points out, "The big names in fashion, design and automotive offer partnerships, such as the Cheval Blanc de LVMH, including an upcoming opening in Paris instead of the Samaritaine, the Bentley suite of the Saint Régis in New York with access to a Bentley Mulsanne, or Le Bristol with Les Samedis de la Mode, which hosts a Brioni event in late November after the Brazilian shows in October... »