Luxury Tourism a major driver of tourism growth after the pandemic

About

Summary 

Luxury travel is set to be the major driver of tourism growth following the pandemic. There is a huge pent-up demand for overseas travel from Europe and the demand for luxury is high amongst HNWI (high net worth individuals) and other wealthy travellers looking for personalised and authentic experiences. For local tour operators who can meet the high-quality services and demands of this lucrative market, there are good opportunities to attract a discerning clientele.

Acorn Tourism was commissioned by the CBI to undertake thorough research to help SMEs in developing countries to understand and target this valuable market. 

Our Approach 

Acorn Tourism’s extensive primary and secondary research into the luxury tourism market uncovered the main European markets which demonstrated a market that is keen to travel and experience authentic, high-quality trips.  It analysed the varied segments of luxury traveller, looking at their travel habits, behaviours and motivations to inform SMEs looking to enter the luxury European market. It highlighted the European markets that offered the best opportunities for SMEs, including the UK and Germany, and identified current and emerging trends. 

Additional research outlined requirements to reach the markets, including embedding sustainability into business practices to demonstrate commitment to actively mitigates against the harmful impacts of tourism.  Needs specific to the luxury market were uncovered, including their desire for flexibility, high quality personalised service and unique, authentic experiences. The study outlined the major sales channels of specialist luxury travel companies and advisors, along with DMCs in host countries. Several best practice case studies were profiled from a range of competing destinations for luxury travel, including Mexico and Morocco.

This study is one of many detailed business guides aimed at SMEs in developing countries commissioned by the CBI, the Netherlands Enterprise Centre, one of Acorn Tourism’s long-term clients.

Outcome 

Acorn Tourism’s guide to help local tour operators all over the world target the European luxury market provided a wide range of tips and practical advice. 

Directions

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Luxury Tourism - A Business Guide for SMEs

Client:

CBI, Netherlands Enterprise Centre,

Location:

Worldwide
CBI, Netherlands Enterprise Centre

This project contributes to the following United Nations Sustainable Development Goals:

  • Acorn AwardsSDG 1 - End poverty in all its forms everywhere SDG 1 - End poverty in all its forms everywhere 2020
  • Acorn AwardsSDG 8 - Promote sustained, inclusive and sustainable economic growth, employment and work SDG 8 - Promote sustained, inclusive and sustainable economic growth, employment and work 2020
  • Acorn AwardsSDG10 - Reduce inequality within and among countries SDG10 - Reduce inequality within and among countries 2020
  • Acorn AwardsSDG11 - Make cities and human settlements inclusive, safe, resilient and sustainable SDG11 - Make cities and human settlements inclusive, safe, resilient and sustainable 2020

Contact us

3 Woodland Enterprise Centre, Hastings Road,
Flimwell, East Sussex, TN5 7PR, UK

+44 (0) 1580 879970

contact@acorntourism.co.uk