A warm welcome to Platinum Services new blog! As we continue to provide VIP Luxury Airport Services, Luxury Transportation and Concierge Services in Barbados, our blog aims to keep you up-to-date with the latest in the world of luxury travel. Having said that, we’ll get straight into our first post which looks at some interesting emerging travel trends for 2014.
Resonance Consultancy President, Chris Fair detailed the top trends expected to shape travel in 2014 and beyond through research done by his company in lifestyle and tourism trends.
So what are these trends?
Trend 1 examined the impact of milennials or persons 18 – 30 years old, who Mr. Fair said, are of “obvious and growing importance”. While noting that they have distinct characteristics, their travel choices include being more interested in urban than resort destinations, more likely to travel in pursuit of favourite interests or activities and more likely to travel with friends in organized groups.
If this trend holds true, it is noteworthy that hoteliers and marketers should strategize for both opportunities and challenges.
Trend 2 highlighted that seniors are “unstoppable” and they are estimated to comprise 1.3 billion to 1.6 billion people worldwide. Thus, customer service is crucial as they “show higher levels of frustration that result in zero tolerance for poor service”, factors that aren’t totally surprising. While additional research posited that this group primarily travels for rest and relaxation on either short or long-stay trips, they favour quieter, less congested destinations.
Trend 3 focused on the rise of conspicuous leisure which was defined as “the signalling of social status through consumption of experience rather than through consumer goods”. The top five goods and experiences desired by the affluent are:
- Owning a smartphone
- Owning a vacation home
- having the freedom to work from home
- taking vacations to exotic destinations
- taking extended time off from work.
We’re completely in agreement with this rise from observation.
Trend 4 focused on the Growth of ‘Creative Tourism’. In greater detail, creative tourism is travel “directed towards an engaged and authentic experience. It is travel that provides a connection with those who reside in the destination. It is noteworthy that a creative tourist differs from a cultural tourist in that he or she is active and interacts with the locals.
We don’t mean to sound a bit bias but this trend is one of the more interesting of the six given the importance of tourism to Barbados and the need to always remain viable.
Trend 5 looked at the Strength of Luxury Travel as it continues to be a robust segment of the industry. While Mr. Fair noted that there are millions of millions, he said it is still projected that the U.S., Japan and Europe visitors will dominate the luxury travel space until 2020.
Trend 6 is all about multi-generational travel which is described as a trend with reliable staying power. Mr. Fair said the older the boomers get, the more family travel they’re doing and a lot of that travel is planned around milestone events. We agree with Mr. Fair when he says, this market is about “trading memories, convenience and value”.