Ultra-Luxury Travel: Redefined for a New Generation - Essay Sample

Introduction

It is nowadays normal in the modern world to picture luxury as an indulgence and choice of activity rather than a necessity and secondary needs. Ultra-luxury travel is changing and evolving from high prices and the usual conventional badge value; it is being redefined in the sense that a new generation of the travel experience is being focused on. This particular generation longs for more customized, intimate experiences and avoids the elaborate and rich looks. They are replacing tourists who, apart from wanting things to look good, would also aspire for a good feel. Modest, golden-free, and guilt-free luxury, summed up with customized experiences, have become the true meaning of the luxury tourism market (Arsenault & Gale, 2004). Nowadays, the industry itself is believed to be defined by the combination of the uniqueness and the richness of the travel experience itself and not things like flight class or hotel brand. The Ultra-luxury experience currently ought to provide a degree of social bragging rights that brings out the Tourist's individuality. It is to deliver envy; it needs to be aspirational accordingly. (McCabe, Brewer & Adeney, 2019). The paper, therefore, is premised on a discussion regarding general travel, ultra-luxury travel, future trends within the travel industry, the spending of ultra-wealthy people, and why people are choosing experience as opposed to products (Hickman & Banister, 2017).

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Judging by varying definitions of a luxury tourist, the size of the industry depends. Nonetheless, certain destinations picture the Real Luxury Sector like Tourism New Zealand utilizes the Cap Gemini Wealth Management view, which mainly concentrates on liquid assets. Global wealth realignment to new regions, North America and Europe, maintaining their top spots in as the largest markets will all progressively be seen with time. (Kapferer and Bastien, 2015) The action emphasizes the fact that despite witnessing such progressive growth, North America and Europe hold the largest share of the sector. This depending on the nature and quality of the product, paves the way for chances to focus on other individual markets.

For instance, travelers who occupy the top 5% of the. Households in the U.S, adding 524 tourists falling in the top 1% was helpful In this particular online survey, the well-off 6% take an average of 13.9 trips annually (close to half for leisure and a half for business and official purposes) relating to just 4.9 trips made by U.S. travelers in total. Averagely 2.8 people in each home, and estimated spending ability of $3,149 per head during vacation, this sums up to expenditure worth, $389 billion per annum on solely leisure travel. ((McCabe et al., 2019). The action depicts the ultra-wealthy U.S. travelers to be one of the most profitable travel market subdivisions worldwide and being a fundamental spark of the luxury travel market and trends across the world.

As more wealthy people increase by the day globally, and as the travel industry enlarges to cater to their demands, we are forced to enter a new era of luxury travel. The emerging middle class, known for seeking the material phase of luxury travel and tourism, mature markets continue to long for a new, fresh, and dynamic type of luxury, one that is evolved. (Dykins, 2019) Offering luxury customers exclusive, customized, and relevant experience in the future will become a distinguishing factor between old and new luxury and even more important than it is currently.

Travel

Travel is always the one thing human beings can afford that leaves them richer. During travel, there are meeting new people from different cultures, visiting new places, and getting to experience new cultures is inevitable as it offers memories for life as well as happiness (Hickman & Banister, 2017). Travel grows a person by exposing the person to new experiences. One also gets to appreciate whats yours in life and also get to have a broader view on different issues in life.

Travel has been practiced since ancient times, which has acted as a foundation of growth in the sector as of currently too big and lucrative industry. Globally there exist endless destinations to choose from and over 200 countries while choosing to travel. Everyone luckily has their customized expectations and wants to be based on their drives to travel ((McCabe et al., 2019). There is always something for each person who wishes to travel, from relaxing at the sandy beaches to sporty hiking in the high-altitude mountains or going shopping in a fancy metropolis, all this is by far possible (Cooper et al., 2018.). Tourism can also be defined as actions of people traveling to and residing in places different from their normal habitats for less than a year for vacation, corporate, and other purposes.

Furthermore, tourism is also the relation between the departure point and the point of arrival. By the fact that tourism is an intricate aspect and phenomenon, it can be brought to light in many advanced ways depending on the core aspect. From an economic point of view, tourism is termed as a corporate as well as an industry. In matters of technical terms, the typical meaning of tourism and tourists are both intertwined statistically, which happens to be vital in monitoring development, comparing regions, as well as regional policy-making and planning.

More often than not, tourism is understood as the doings of people engaging in travel to other destinations for leisure or corporate reasons, this being outside their usual habitat., for not more than a year at a time. The action may comprise an overnight stay, which most at times is not always the case. People traveling and not staying at their respective destinations overnight are majorly termed as day tourists or day visitors (Ingle et al., 2019). The major three types of tourism are basically: Inbound tourism which mainly involves visitors from abroad and other parts of the world coming into the country - domestic tourism which involves taking trips and exploring one's native land. Outbound tourism is traveling to another nation for a holiday visit (Borm, 2017).

For instance, if a homestead from Birmingham, were to take a short vacation to the Blackpool seaside resort, they are termed as domestic tourists (Borzykowski, 2014). While American tourists are traveling as a group coming to the United Kingdom for a fortnight tour of the country would be viewed as inbound tourists while a newly wedded couple from Newcastle who decide to take a fortnight package vacation to Greece would be termed as outbound tourists. (Ingle et al., 2019)

Globally, the American tourism sector continues to grow progressively almost annually. For instance, from 527.5 million in 2005; International tourist influxes skyrocketed to a stunning 1.19 billion in 2015 (Das & Saha, 2018). Research and expectations on the market by its trends, Figures are perceived to exceed 1.8 billion by the year 2030 (Das & Saha, 2018). Also, annually, Europe gets the biggest chunk of international tourists coming in a while, producing the largest number of travelers at the same time, with an average number of 607 million outbound travelers in the year 2015 (Das & Saha, 2018).

Europe received more than twice the second largest tourist destination, the Asia Pacific destination received. In the year 2015, proceeds for the Global International Tourism summed up to approximately 1.26 trillion U.S. dollars, this being almost twice since 2005 (Kenton, 2019). China, in that particular year, achieved the widest international tourism spending, followed by the U.S and Germany consecutively. In the year 2016, Dubai was top in terms of the leading city in international visitor expenses, where travelers outlay more than 30 billion U.S. dollars (Kenton, 2019).

Luxury Travel

Majorly the provision of exquisite and superior services and products engagingly and especially is generally termed as Luxury Travel (Borzykowski, 2014). Travelers expect nothing but the best beginning with the upbeat and professional welcome by the doormen in the posh hotels, to lush beds and epicure meals in-room banqueting. The provision of exceptional services and products. Convenience is identical to luxury (Fox, 2019). Such companies do their best to exceed their visitors' expectations, and during instances, they fail to meet their clients' expectations instantly; they quickly readjust to satisfy those wants and likes requiring less effort from the visitor.

A person arguing Luxury in terms of price would not find it a walk in the park; some would view Luxury as overpriced tags. In this Industry, price is a complex ideology altogether. In some cases, the absence of direct charging in the use of some amenities such as beautiful sunny beaches may be there. Mostly the amount of money paid is because of a journey and the duration of time spent at a particular tourist destination, so is the cost of paying for an air travel ticket to Nice for a luxury trip (Borzykowski, 2014). A night spent in a five-star hotel, in a city full of comfort hotels, a night might amount lesser than a homestay in the same urban setting or an ecolodge lacking air conditioners in a neighboring national reserve. Furthermore, judging by the alterations in ranks of economic sustainability and labor expenditure, a five-star hotel in Cambodia compared to a two-star hotel in France may cost less (Borm, 2017).

Many people aspire to be part of the luxury market in hospitality, events, and tourism, judging by the fact that they, in turn, come with positive connotations. Many tourists and travelers would love to be recognized as luxury travelers and would budget extra for the feeling. Rather than just a particular set of activities being seen as luxurious, the sector has made efforts to picture a luxury level product as obtainable in all areas of events, hospitality, and tourism (Donze and Fujioka, 2017.).An identity crisis scenario experienced in the luxury travel industry is that: another traveller's luxury is ones ordinary and vice versa. While others see luxury as a peaceful separate and isolated time in a treehouse or to enter another cultural experience, for some travelers ,it is white-glove service and bottomless champagne (Borzykowski, 2014).

Three decades ago, luxury enthusiasts were similarly grouped (Hudson, 2019). Currently, things have evolved, and the luxury travel industry is comprised of various sub-segments. The action implies advertisers require core motivational drivers instead of demographics to generate a cross-generational plea (Hudson, 2019). Fundamentally it is also vital for them to perceive that the luxury travel market is dividing into three core subdivisions which are: ethical luxury, uber-luxury, and vanity driven luxury.

Future Trends Within the Travel Industry

The luxury sector, in general, is closely followed by the luxury travel industry. Initial results show this fact. However, luxury travel is rarely considered within the luxury industry. Facts are luxury travel sectors that are not only renowned by brand imagery, uniqueness, and high price levels, which are the core building blocks of the luxury sector; they also happen to affect the same trends directly (Conrady & Buck, 2014). A clear line between ultra-luxury and affordable luxury has been drawn, summing up with the enhancement of customized amenities, which is a deviation from pretention, the rising importance of internet sourced media, and increasingly paying more attention to ethical, social values. Most importantly concerning the luxury sector at large, the demand for luxury travel is projected to increase, especially concerning developing economies, e.g., in the BRIC nations (Hudson, 2019)

For instance, six decades ago, two-thirds of tourists went to Europe; to show things have evolved; currently, that's jus...