You would think that with the state of the global economy that people would be tightening their belts with their holiday choices, but the surprising statistic is that more people are opting for luxury holidays now than they have for the past few years. The World Travel Monitor has issued a report stating that bookings in four and five star hotels has risen by 3% since 2007, which is encouraging news for the travel industry and an indicator that the economy is on the road to recovery.
Why people are opting for luxury travel
There is much speculation around why people prefer to opt for luxurious holidays instead of the cheap and cheerful packages. These include:
- Price crunches: In a bid to boost the numbers of tourists taking luxury holidays, many hotels and travel operators have slashed the price of luxury holidays and accommodation in top of the range hotels, making it easier to afford something a cut above the rest for many people.
- Group buying power: Sites such as Groupon and other group buying collectives has driven down the price of luxury holiday stays and overnight accommodation. For many people, choosing a cut price luxury holiday from a group-buying provider has opened the door to vacations they could only have dreamed of previously.
- No holiday last year: With the excitement of the Olympics, coupled with some major international disasters, many people opted to stay home last year. The economic dramas in Greece and Italy, the Eurozone debt crisis, revolutions in Arab countries and the nuclear disaster in Japan all meant plenty of people missed their holiday in 2012, giving them more money and more impetus to make the most of their trip this year.
- Adventurous spirits: During the start of the recession people were exhausted and just wanted to head to a cheap beach destination and flop out. But it seems holidaymakers are finding their energy again, as bookings to Asia and South America start to see a rise in adventure seeking visitors again. Southeast Asia in particular offers some great value five star accommodation, and some excellent discounts for tourists, and in a recent report from a luxury travel company in Vietnam said they had experienced a 20% growth over the past three years.
Other holiday trends for 2013
As well as booking more luxurious holiday destinations, Confused.com, Thomas Cook and Teletext Holidays have all published further information on predicted holiday trends in 2013:
- 35% of holidays will be booked in the first few weeks of the year, as people strive to plan out their time and secure the best prices
- Top holiday destinations include Cancun, Croatia, Spain and Morocco
- 28% of holidaymakers think Wi-Fi is essential in their hotel rooms
- 33% of children bring expensive smart devices on holiday with them, increasing the need for comprehensive travel insurance – see here for some great deals on this
- Top long haul destinations will be New York and Thailand
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