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The rise of the global middle class is increasing demand for new holiday experiences, prompting the travel industry to offer more adventurous options, according to research from the World Travel Market (WTM) London.
Unveiled on November 5, the exclusive WTM Global Travel Report — compiled with Oxford Economics — reveals that more affluent consumers are reshaping traditional travel norms, with some travelers seeking riskier activities.
“This report provides a crucial overview of trends for the industry in 2024 and beyond,” said WTM London Exhibition Director Juliette Losardo. The report indicates that travel popularity has fueled creativity, with consumers increasingly open to adventure and thrill-seeking experiences.
While soft adventure activities — like hiking and wildlife watching — currently dominate adventure tourism, hard adventure activities such as skydiving and mountaineering are gaining traction among wealthier travelers willing to take higher risks.
Tourism Economics found that 29 percent of travelers reported increased interest in adventure travel, 34 percent in rural tourism, and 57 percent in visiting new destinations compared to five years ago. This demand is expected to boost growth in smaller countries like Armenia and Serbia, along with African destinations offering safari experiences.
The report noted that Saudi Arabia and Albania saw visitor arrival growth of 80 percent and 74 percent, respectively, compared to 2019, driven by the desire to explore off the beaten path.
The “experience economy” is growing as consumers prioritize memories over material goods, particularly among Gen Z and Millennials, who place greater emphasis on experiences. This shift presents travel companies with opportunities for innovation through personalized offerings.
“Our report will prompt discussions throughout WTM London and beyond, supporting sustainable growth in our sector,” Losardo added.
WTM London 2023 will run until Thursday, November 7.
The Greek Travel Pages (GTP) is an official media partner of WTM London.
Follow GTP Headlines on Google News to keep up to date with all the latest on tourism and travel in Greece.
This post was originally published on here
