How Luxury is Being Redefined in Travel
At one time, luxury travel was something few could afford. However, in recent years the industry has undergone a lot of changes. Numerous trends are now helping to redefine luxury travel.
Here, we’ll look at just some of the driving factors changing the luxury travel industry.
Changing millennial demands
One of the biggest drivers behind the shift in the luxury travel sector is millennials. The younger, rich generation are much more willing to spend on luxury travel and experiences. However, they also have increased demands that the travel industry has had to meet.
They expect a level of luxury that is tailored to their own personal preferences. This includes luxury transportation, luxury accommodation and an increased level of comfort. If these expectations aren’t met, millennials aren’t afraid to voice their opinions in scathing reviews. In the travel industry, this can prove disastrous for brands. So, the luxury sector is continuously being redefined thanks largely to the younger, more demanding generation.
The importance of experience
Luxury travellers today don’t just want a product, they want an experience. Interestingly, high-end luxury travellers now have a very similar mindset to backpackers, in the fact they want an authentic travel experience. For this reason, many luxury resorts and experiences have been developed in once remote, basic parts of the world. Travellers want to experience these places before they become too overcrowded with tourists.
Private airlines have also helped to open up the luxury travel experience to a broader range of people. By offering lower charter prices on private jets, including great empty leg flights and discounts, more people than ever before can now enjoy a luxury travel experience.
Creating Instagrammable experiences
Following on from the shift to experience-based luxury travel, social media also influences the sector. Restaurants, hotels and bars are all now striving to offer what is being dubbed as “Instagrammable experiences”. That is, experiences which are perfect to snapped and shared on social media sites such as Instagram.
Some luxury travel companies are even arranging photoshoots, allowing travellers to capture perfect shots to share with their followers. Technology is also playing a role in redefining luxury travel. It allows hotels and travel operators to record traveller preferences and put together a more personalised package to fit each individual.
Overall, the luxury travel sector has seen a number of changes introduced in recent years. Millennials do seem to be driving the changing trends, though technology has also played a large role. Luxury travel is also starting to focus on sustainability. As the younger generation becomes more concerned with their impact on the environment, luxury travel providers are having to find ways to offer luxury experiences with a focus on sustainability.