DUBLIN, April 13, 2022–(BUSINESS WIRE)–The “Premiumization in Travel and Tourism (2022) – Thematic Research” report has been added to from ResearchAndMarkets.com offer.

This thematic research report takes an in-depth look at premiumization in travel and tourism. First, the actors section identifies some of the leading and challenging companies in this theme and categorizes their position in the value chain.

It has been well documented that the pandemic has turned many travelers into wealthy people and made the super-rich even richer. This trend will undoubtedly benefit the luxury tourism market, while increasing the importance of premiumization for more travelers who can now afford luxury products and services on future trips.

A trends section is then provided, outlining technology, macroeconomic and business trends related to premiumization. An industry analysis follows, providing insight into the global distribution of wealth, tourism spending, lodging trends, use cases, mergers and acquisitions, and a timeline that highlights the emergence premiumization in travel and tourism.

Finally, the premiumization value chain is reviewed, with each segment of the chain being thoroughly described. Finally, the leading and challenging companies in the theme of premiumization are profiled along with their competitive position in the industry.

Increased need for privacy, greater focus on health and wellness, desire to tick experiences off the “to do list”, involuntary money saving, tendency to travel more features, the rise of digital nomads and the rise in the number of millionaires mean that the theme of premiumization will continue to gain prominence

Highlights

• In addition to being the driving technology behind smart cities and destinations, IoT technology enables ultra-comfortable comfort and convenience in high-end and luxury markets. According to the publisher’s Q3 2021 Emerging Technology Sentiment Analysis Survey, 48% of respondents said they had become “more positive about this technology” in the past year when they were asked about their perception of the IoT. This growing appreciation of IoT has been particularly seen in the hospitality industry. For example, a traveler may return to the same upscale hotel each winter. The hotel company using a smart thermostat could set the heating to the guest’s preferred temperature when they return, which is being recalled last year. Such small, personalized services could go a long way for many customers, especially in the luxury market where attention to small details is greater than in the mid-range or budget segments.

• According to the publisher’s Q3 2021 Consumer Survey, 56% of global consumers said they “somewhat” or “completely” agree they are more loyal to brands that support environmental causes. . Turning to baby boomers (who are most often the wealthiest generation in many countries), 51% echoed the same sentiment, demonstrating that the need for sustainable offers is not only required by millennials. For this reason, sustainability and luxury are increasingly intertwined in travel and tourism. ESG issues are now of great importance to many luxury consumers. If a company is unable to demonstrate that it is acting responsibly, it could now lose valuable business. Many luxury consumers now also see sustainability as an important pillar of high-end offerings, with responsible services and products reflecting quality.

• The highest average outbound spending channel for the United States, Spain and Australia was transportation, with these source markets spending an average of $1,198.70 on this channel. One particular reason why these markets spend significantly more than the global average is due to the destinations they visit most frequently. For example, of the top 10 destinations from Australia for 2021, seven of them would be classified as long-haul destinations, as the average flight duration is over six hours. For the United States, six of its top 10 outbound destinations in 2021 are classified as long-haul. This point ties in with the theme of premiumization, as the developed economies of these countries allow many travelers to pay high prices for flights to visit and discover distant destinations that boost their social status.

The story continues

Scope

• This report provides an overview of premiumization in travel and tourism.

• This report explains why premiumization will continue to grow in importance.

• This report describes how premiumization will be adopted in the future.

• This report provides examples of what companies and organizations in the travel and tourism industry are doing in response to this theme, and how they are creating differentiation.

• We highlight travel and tourism companies that are at the forefront of this theme, such as Four Seasons, Sixt, Royal Caribbean, Las Vegas Sands and Flexjet.

Reasons to buy

• Understand the key theme of premiumization and its current and future impact on the industry.

• Evaluate the strategies adopted by leading companies on the subject of premiumization.

• Identify leading and challenging companies on this theme.

• Understand how this theme is shaped by a range of different technology, macroeconomic and business trends.

• The publisher’s topical research ecosystem is a single, integrated global research platform that provides an easy-to-use framework to track all topics across all businesses in all industries. It has a proven track record of identifying important themes early, allowing companies to make the right investments ahead of the competition and securing that critical competitive advantage.

Main topics covered:

Companies cited

• Royal Caribbean

• sixth

• Kempinsky

• Inspiration

• Galactic Virgo

• IHG

• Emirates

• red savannah

• Lufthansa

• Nobu

• NetJets

For more information on this report, visit https://www.researchandmarkets.com/r/au5a8g

See the source version on businesswire.com: https://www.businesswire.com/news/home/20220413005773/en/

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