01 HAVE WE EXHAUSTED THE 'EXPERIENCE'?
Here, on the edge of a new decade, the 'travel experience' is evolving. Where travelers once sought brief encounters with the spectacular, they now seek genuinely meaningful and long-term fulfillment. Now more than ever, travel is becoming a function of life-long wellness - and not something which happens simply 'over there.' We've seen trips and itineraries become increasingly focused on spiritual and bodily betterment; whether through creativity, sustainability, or wellness. The most powerful iterations of this trend don't trade in ephemeral events. Rather, they chart a deeper course; where 'experience' is synonymous with transformational fulfillment, and where individual trips are part of life-long journeys. Lasting change is quickly becoming the new currency in luxury travel. The 'journey' has broken out of its silo. It's here for life.
70% of global consumers prefer to spend on an 'experience' over buying goods.
Orientated around self-actualization, this welcome evolution of the 'experience economy' is something travelers are quickly taking to. This is highlighted in recent Euromonitor International figures, which highlight how 70% of travelers now favor an immersive, fulfilling experience over a more fleeting 'thing'.
There is a growing connection between experiential travel and improved wellbeing. 2020 will see travelers leveraging ever-deeper experiences to fuel personal growth and take greater control over their health.
"The proliferation of the experience economy has seen a greater demand for blockbuster trips. People see through shallow experiences and have a greater nose for the genuinely authentic. What's more, they're going further afield, and that's really been fueled by the sheer ease of discovering new and more nuanced experiences."
- Tom Marchant
Black Tomato co-founder