Generation Hashtag will be a key driver for niche tourism growth driven by experience economy

Generation Hashtag will be a key driver for niche tourism growth driven by experience economy


The submit Generation Hashtag will be a key driver for niche tourism growth driven by experience economy appeared first on TD (Travel Daily Media) Travel Daily.

According to GlobalInformation’s lately revealed report, ‘Niche Tourism, 2022 Update – Thematic Research’, demand for niche tourism holidays and experiences is rising amongst Generation Hashtag (outlined as individuals born between 1991 and 2005).

Craig Bradley, Associate Travel & Tourism Analyst at GlobalInformation, feedback: “Generation Hashtag is a driving force behind the experience economy, which is defined as an economy in which goods and services are sold by emphasizing the personal effect they have on people’s lives. As such, it is closely linked with niche tourism due to the broad range of personalized excursions and experiences that can be on offer.”

In GlobalInformation’s Q1 2021 Global Consumer Survey, respondents had been requested how a lot a product/service tailor-made to their wants influences their product alternative. The survey discovered that 27% of Gen Z and 26% of Millennials stated it ‘always influences my product choice,’ which had been the 2 highest percentages out of all of the age teams surveyed, and three% above the worldwide common.

GlobalInformation Global Consumer Surveys from This fall 2018, Q3 2019, and Q3 2021, which requested travellers what kind of vacation they usually take, reveals the growing desire for niche journey sorts amongst younger adults.

The outcomes reveal a gradual improve in reputation for varied niche journey sorts together with journey, gastro, eco, LGBTQ and well being and wellness holidays inside this cohort. However, the share of Generation Hashtag respondents taking extra conventional varieties of journeys similar to metropolis breaks, and solar and seashore tourism stays roughly the identical all through the annual surveys.

The preferences of Generation Hashtag are serving to drive many types of niche tourism to the following stage. Almost all varieties of niche tourism lined in GlobalInformation’s surveys during the last three years have proven a rise in demand from this cohort. This era is the trade’s future, and the outcomes point out that their demand for niche journey sorts will assist to drive tourism’s ongoing restoration.

Bradley provides: “Young adults yearn for more engaging and meaningful experiences. As such, perceived value is rarely down to just cost. Travel and tourism companies operating in niche sectors must focus on Generation Hashtag within marketing campaigns. This highly differentiated market could act as the deciding factor in specialist companies’ recovery and future growth.”

ENDS

The submit Generation Hashtag will be a key driver for niche tourism growth driven by experience economy appeared first on Travel Daily.



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