{"id":3208,"date":"2022-02-03T05:25:21","date_gmt":"2022-02-03T05:25:21","guid":{"rendered":"https:\/\/hoteliersweb.com\/News\/?p=3208"},"modified":"2022-02-03T05:25:29","modified_gmt":"2022-02-03T05:25:29","slug":"generation-hashtag-will-be-a-key-driver-for-niche-tourism-growth-driven-by-experience-economy-according-to-globaldata","status":"publish","type":"post","link":"https:\/\/hoteliersweb.com\/News\/articles\/3208","title":{"rendered":"Generation Hashtag will be a key driver for niche tourism growth driven by experience economy, according to GlobalData"},"content":{"rendered":"\n

According to GlobalData\u2019s recently published report, \u2018Niche Tourism, 2022 Update \u2013 Thematic Research<\/a>\u2019, demand for niche tourism holidays and experiences is growing among Generation Hashtag (defined as people born between 1991 and 2005).<\/p>\n\n\n\n

Craig Bradley, Associate Travel & Tourism Analyst at GlobalData, comments:<\/strong> \u201cGeneration Hashtag is a driving force behind the experience economy, which is defined as an economy in which goods and services are sold by emphasizing the personal effect they have on people\u2019s lives. As such, it is closely linked with niche tourism due to the broad range of personalized excursions and experiences that can be on offer.\u201d<\/em><\/p>\n\n\n\n

In GlobalData\u2019s Q1 2021 Global Consumer Survey, respondents were asked how much a product\/service tailored to their needs influences their product choice. The survey found that 27% of Gen Z and 26% of Millennials said it \u2018always influences my product choice,\u2019 which were the two highest percentages out of all the age groups surveyed, and 3% above the global average.<\/p>\n\n\n\n

GlobalData Global Consumer Surveys from Q4 2018, Q3 2019, and Q3 2021, which asked travellers what type of holiday they typically take, shows the increasing preference for niche trip types among young adults.<\/p>\n\n\n\n

The results demonstrate a gradual increase in popularity for various niche trip types including adventure, gastro, eco, LGBTQ and health and wellness holidays within this cohort. However, the percentage of Generation Hashtag respondents taking more traditional types of trips such as city breaks, and sun and beach tourism stays roughly the same throughout the annual surveys.<\/p>\n\n\n\n

The preferences of Generation Hashtag are helping drive many forms of niche tourism to the next level. Almost all types of niche tourism covered in GlobalData\u2019s surveys over the last three years have shown an increase in demand from this cohort. This generation is the industry’s future, and the results indicate that their demand for niche trip types will help to drive tourism’s ongoing recovery.<\/p>\n\n\n\n

Bradley adds<\/strong>: \u201cYoung adults yearn for more engaging and meaningful experiences. As such, perceived value is rarely down to just cost. Travel and tourism companies operating in niche sectors must focus on Generation Hashtag within marketing campaigns. This highly differentiated market could act as the deciding factor in specialist companies\u2019 recovery and future growth.\u201d<\/em><\/p>\n\n\n\n

*Information based on GlobalData\u2019s report: Niche Tourism (2022)<\/a>. This report covers the main industry themes underpinning the niche tourism industry. It covers various aspects such as social media, COVID-19, marketing, globalization, and M&A. In addition, the report looks at current niche tourism trends within the spectrum, followed by in-depth industry analysis and recommendations for tourism businesses in the future.<\/em><\/p>\n\n\n\n

About GlobalData<\/strong><\/h3>\n\n\n\n

4,000 of the world”s largest companies, including over 70% of FTSE 100 and 60% of Fortune 100 companies, make more timely and better business decisions thanks to GlobalData”s unique data, expert analysis and innovative solutions, all in one platform. GlobalData”s mission is to help our clients decode the future to be more successful and innovative across a range of industries, including the healthcare, consumer, retail, financial, technology and professional services sectors. <\/p>\n","protected":false},"excerpt":{"rendered":"

According to GlobalData\u2019s recently published report, \u2018Niche Tourism, 2022 Update \u2013 Thematic Research\u2019, demand for niche tourism holidays and experiences is growing among Generation Hashtag (defined as people born between 1991 and 2005). Craig Bradley, Associate Travel & Tourism Analyst at GlobalData, comments: \u201cGeneration Hashtag is a driving force behind the experience economy, which is defined as […]<\/p>\n","protected":false},"author":1,"featured_media":3209,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[56,55,34,35,42,53],"tags":[],"class_list":["post-3208","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analysis","category-data","category-latest-trends","category-news","category-press-release","category-statistics"],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/hoteliersweb.com\/News\/wp-content\/uploads\/2022\/02\/xxl_153137326.webp","post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/hoteliersweb.com\/News\/wp-json\/wp\/v2\/posts\/3208","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hoteliersweb.com\/News\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hoteliersweb.com\/News\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hoteliersweb.com\/News\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hoteliersweb.com\/News\/wp-json\/wp\/v2\/comments?post=3208"}],"version-history":[{"count":2,"href":"https:\/\/hoteliersweb.com\/News\/wp-json\/wp\/v2\/posts\/3208\/revisions"}],"predecessor-version":[{"id":3211,"href":"https:\/\/hoteliersweb.com\/News\/wp-json\/wp\/v2\/posts\/3208\/revisions\/3211"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/hoteliersweb.com\/News\/wp-json\/wp\/v2\/media\/3209"}],"wp:attachment":[{"href":"https:\/\/hoteliersweb.com\/News\/wp-json\/wp\/v2\/media?parent=3208"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hoteliersweb.com\/News\/wp-json\/wp\/v2\/categories?post=3208"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hoteliersweb.com\/News\/wp-json\/wp\/v2\/tags?post=3208"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}