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Academic Paper from the year 2024 in the subject Tourism - Hotel Management, grade: 31/30, Bocconi University, course: Tourism Industry and Sustainable Destinations, language: English, abstract: This paper aims to explore recent consumer trends and future developments of the luxury travel industry, identifying key lessons learnt and deducing managerial implications. Examining this topic is important since, with a 10% contribution to the worldwide Gross Domestic Product in 2019, tourism is one of the most important industries and forms the economic backbone of many countries. Severely affected by the COVID-19 pandemic-related travel restrictions, its relevance became even more noticeable.
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