Publication: Informe "key drivers behind high value city travel"
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2015-10-29
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IE University
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Google search delivers 415 million hits on the search terms report + tourism. So why another research on tourism? Not only because tourism represents 9% of the global GDP and all jobs worldwide. Not only because the number of tourists worldwide is expected to almost double from 2010 to 2030. Also another research because change, especially in the higher ends of the travel markets, is happening at a breathtaking speed. Because the tourism sector, due to the big differences among markets, among segments, and among destinations, requires very specific, focussed research. This research focuses on European capital city destinations for high value Non-Euro market segments. The city travel market has been growing nearly 60% over the last 5 years, far more than touring, sun & beach or other sectors. There are knowledge gaps to be filled regarding many issues including the mix of leisure and business travel, the meaning of sophisticated experiences or the impact of mobile web. The IE Premium and Prestige Observatory started in 2010 with the goal of generating and sharing knowledge about the premium market and industry worldwide. With the support of MasterCard we have done research on the impact of the digital revolution in luxury client behaviour and the industry pace of adaptation. We have explored the meaning of memorable experiences and its key drivers. The Observatory has also supported premium and luxury entrepreneurship and it has given visibility to sustainable luxury entrepreneurs. Urban tourism is a key driver of this industry. It was among the top ten most challenging issues identified by luxury experts and executives at IE Luxury Barometer 2014. At a time when up to 60% of luxury brand (apparel, accessories, cosmetics, jewellery and watches) sales in European cities are to tourists, luxury executives count on it as a key source of growth. From the industry perspective, hospitality, gastronomy and cultural sectors thrive as tourism flows increase.
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Attribution 4.0 International
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IE Observatory for the Premium & Prestige Market
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Girón, M. E. (2015). Informe "key drivers behind high value city travel". Zenodo. https://doi.org/10.5281/zenodo.3567793