‘Experience Economy’, The Travel Trend Going Into The Long Haul – The Edition

Travelling remains a social privilege that, when done correctly, can be liberating, exhilarating and can leave an enduring impression. Travelling is a way to vicariously experience a unique culture of a place while journeying into pastimes that can feel more organic. People who genuinely enjoy travelling are moving towards creating memories that can be linked to the experience of the destination. Instead of using mainstream tourism platforms to decide their vacation, people are choosing authenticity. Today, ‘experience economy’ has emerged as a rising trend along with green travel.

Effective ways to boost the experience of the modern traveller are a focal point of successful marketing for a more customer-centric perspective. Airbnb today is a community built entirely on reimagining travel with a more experience-based approach. The online platform where hosts and guests can exchange lodging for money has gained momentum since its initiation. The pandemic did not stop Airbnb from connecting people together, even if it was to be online. Travellers today want to mingle with locals of a different culture to theirs, to get an insight on their values and daily lives.

The trend of focusing on the experience or personalised travel is here for the long haul with the shifts in conventional thinking. In an increasingly competitive and complex market, the travel industry is evolving towards a more local travel experience. Or, what more and more free individual travelers of all ages refer to as an “authentic” travel experience.

Business entities in the hospitality industry are encouraging this, to cater to the growing demands in experiential travelling. While objective Return on investment or ROI is difficult to factor in, with regard to the booking rates, the demand is forecasted to pick up post pandemic. Hotels or resorts engaging in the inclusivity of the local community talents in their products or accommodation can offer a more introspective guest experience. It is no longer only about a place to sleep in a different country, but it is an experience that can define or be relatable to the person having it.