Thematic Intelligence: Experience Economy in Travel and Tourism (2024)

Thematic Intelligence: Experience Economy in Travel and Tourism (2024)

Summary

This report analyzes the key theme of experience economy in the travel and tourism sector. Experience economy is taking on greater importance as travel companies look to build customer loyalty and improve customer experience. This report provides an insight into key trends, challenges, and recommendations, as well as providing concrete case studies to help the reader see examples of experience economy in action.

With the advent and evolution of technology in our lives, as we shift to a world where technological advancements have spurred the potential for more leisure time, there is a greater desire among people to not just travel, but to maximize each experience. Leisure tourism is a broad term that now encapsulates traveler motivations as meaningful experiences are becoming a crucial element in decision-making towards more special interest travel. The impact of this consumer behavior, though more prevalent among younger generations such as millennials and Gen Z, can be seen across all age groups and traveler types. Industry themes such as online travel, niche tourism, personalization, and social media - followed by the impact of Generation Hashtag (Millennials/Gen Z) - have led to the rapid development of the experience economy.

Scope

• This report provides an insight into key trends, challenges, and recommendations, as well as providing concrete case studies to help the reader see examples of experience economy in action.

Reasons to Buy

• Understand the impact of experience economy on the tourism industry, using case studies to help you understand how you can adapt and understand this theme.
• Assess the strategies that companies are adopting to succeed in experience economy.
• Discover companies that are leading in the space.
• Analyze real-world trends created by integrating experience economy across the travel & tourism space and throughout the traveler journey.
• GlobalData’s thematic research ecosystem is a single, integrated global research platform that provides an easy-to-use framework for tracking all themes across all companies in all sectors. It has a proven track record of identifying the important themes early, enabling companies to make the right investments ahead of the competition, and secure that all-important competitive advantage.