New era of luxury

The GCC today has evolved quite a lot compared to what it was about a decade ago. The volatility of the region and decreasing oil prices bring about new changes which includes budgetary cuts from the government bodies in order to sustain the levels of the market. The rise of the new upper middle class changed a lot and made luxury a possibility to a new group of professionals. In the GCC it gave rise to a generation shift or change as the older generation entrusted the younger generation with the business. The region has the youngest CEOs making it more challenging to the world of luxury as their needs are totally new to the ones that have been coming down. Because they grew up with luxury all the way, the question becomes how can the travel, hospitality and retail industry cater to this new luxury class of individuals?

Luxury travel is subjective as each traveller will define luxury differently, however the bottom line would always be unique, individualistic, bespoke experiences. A report by Amadeus titled ‘Shaping the Future of Luxury Travel’ gives a good insight into the new traveller tribes to watch out for in 2030. Serving this new luxury traveller of tomorrow will require a great strategy and game plan. All stakeholders such as hotels, airlines, technology and travel providers, tour operators will need to work together to enhance a more holistic luxury experience to their visitors.

Influencers play a major role in luxury travel with social media. Hence, the need to make sure that the traveller is totally satisfied with the whole experience is quite challenging as the traveller will be both knowledgeable and demanding. The new era luxury traveller needs to be understood as individuals and provided an efficient service from the beginning to the end. Some of the leading hotel chains are taking a keen interest to explore the different aspects needed to capture and sustain these new luxury trends and travellers.