MICEBOOK - LUXE REPORT 5 - Flipbook - Page 6
In the Oxford dictionary, luxury is defined as 'A state of
great comfort or elegance, especially when involving great
expense'. While this still rings true to a certain extent in the
world of luxury travel, the definition of luxury travel has
and continues to evolve, almost as rapidly as the sector itself
is growing.
The global luxury travel
market is expected to reach
US$440 billion by 2030,
up from US$241 billion in 2022 (Coherent Market Insights)
and the list of luxury hotels being built or due to open in
the next few years is never-ending, with all the major hotel
groups investing heavily in this area. It’s big business.
But while five-star hotels, first-class flights, exclusive resorts
and exceptional service remain important, the focus for
many wealthy travellers has shied from being purely
material to experiential.
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Luxury has taken on a whole new
meaning. It’s not just about over-the-top
opulence anymore. Today’s luxury
travellers want authentic and
ultra-personalised and experiences,
where the focus is on creating deep,
meaningful connections with the local
culture. They also want to travel in a
more conscious and ethical way.
Jenny Southan, founder, CEO & editor
of Globetrender, the UK’s leading travel
trend forecasting agency and online
magazine dedicated to the future of
travel - and our keynote speaker at
micebook LUXE, explains: “As people
have become accustomed to that level of
pampering, they want to broaden the
travel experience beyond the confines of
a luxury resort, to set off and have more
adventurous experiences and try new
things.”
