The luxury travel industry may be the core of my company world for many years. In my role as marketing consultant have experienced travel companies grow and fall because the trends for vacations and short breaks changed consistent with needs for that industry's most significant component – the consumer.
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From just one single holiday or vacation a year, the trend is continuing to grow to your pattern of two even perhaps three vacations. For those with additional disposable income, a sprinkling of short breaks throughout every season has changed into a typical indulgence… so far.
With the start of the financial recession from 2008 onwards large families and travelers of their 40-50s were hardest hit due to the number and quality of holidays taken. Excited on the opportunities afforded by budget flights and exciting destinations many families looked forward with a few weeks within the sun with cheap food and drink as well as the possibility to grab some duty-free luxuries as well as a tan.
But the fall out of flight route closures around the cheaper airlines, the increasing costs of hold baggage along with the effects of currency fluctuations made larger numbers of potential holidaymakers utilizing the cheaper option and staying at home.
The younger singles market still managed the short luxury breaks to European cities, for example, Prague and Barcelona and also the island retreats of Ibiza and Mallorca. But even forex will be eroded as salaries dip in line with the recession.
Currency fluctuation and exchange rates have hit the price tag on the bed and the board rises dramatically in the once celebrated destinations. Add inside the effect of 'global warming' around the conscience from the younger travelers and it is easy to understand why so many with the budget holiday companies are falling on trying times.