Luxury Tourism
Luxury Tourism Recovery Quicker Than Budget Tourism in US Due to Increase in High-Net-Worth Individuals
GlobalData | January 24, 2022
The pandemic has transformed many travelers into high-net-worth individuals and made the super-wealthy even wealthier, according to GlobalData. The leading data and analytics company notes that 29% of respondents in one of its live polls state that their budgets are ‘a lot’ or ‘slightly’ higher than pre-pandemic. The luxury leisure market experienced a strong start to recovery as wealthy consumers, now with higher levels of disposable income, began to travel once again in 2021. When looking at the US specifically, GlobalData found that total hotel revenue from leisure travelers for luxury hotels showed the strongest recovery in 202...
Exploring Luxury Tourism Market Trends in 2021 and Beyond
Hrishikesh Kadam | June 25, 2021
By Hrishikesh Kadam From cruising, yachting, and customized private vacations to multigenerational travel, new trends in the luxury tourism industry are emerging from the global shutdown triggered by the COVID-19 crisis. As travel restrictions ease and borders reopen, travel at any level will be more precious and more exotic among people. Evidently, 2020 has been a challenging year for everyone, and in 2021, travelers are likely to plan future trips as a way to unwind, whether through celebration journeys with families and friends, wellness focused experiences, or culinary explorations. Worldwide, there is a pent-up demand for travel wi...
