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21 Jul 2024 05:22

Advertising & Marketing

Luxury Travel & Retail: What Does the Future Hold for the GCC?

Report draws insight from retail and travel industry thought leaders;

Global research and bespoke commentary from Condé Nast Traveller Middle East

Luxury Travel & Retail – What Does the Future Hold for The GCC?” delves into the market forces affecting the inflow of tourism to the GCC and the changing demographics, preferences and desires of these visitors. 

Key themes explored include the habits and demands of today’s evolving traveller, the aspirations of these luxury consumers, adaptation to create a positive tourism environment and what the future holds for both the luxury and hospitality landscape.

Commissioned by the Chalhoub Group, the paper draws on the expertise of pioneers and thought leaders within the GCC, global research and bespoke insight from the Condé Nast Traveller Middle East team to best understand what the expanding affluent travel space means for high-end retailers and travel service providers.

Patrick Chalhoub, CEO Chalhoub Group said, “The tourist is a captive audience for retailers since part of travel involves the discovery of new areas, engaging with the surroundings at leisure and possibly making a purchase. As luxury retailers we are already offering curated unparalleled services and experiences for our region and aim to provide the same for visitors.”

Topics explored in the highly informative discussion include: 

• How to create positive and inviting tourism environments 

• The role of government enterprise in the expansion of tourism

• The introduction of events to increase regional footfall

• The growth of theme parks to form a new tourism sector

• Creating culturally connected and historic sites that attract travellers

• Establishing how sustainable product alternatives can create an eco-conscious niche

In addition, the research highlights trends in religious travel, cruise tourism and how existing luxury properties are responding to and simultaneously creating growth across the tourism and retail sector.

Candice D’Cruz, Vice President Luxury Brand Marketing and Management, Middle East and Africa Marriott International said “When we talk about luxury and retail, people want retail to be an experience that’s part of the destination – they want to discover themselves as well as discover new places and products. They’re less interested in purely collecting goods with large price tags and are more experience led”

Looking to the future, the paper covers how the combination of increased footfall, a new generation of traveller plus the expenditure of income across both groups has the potential to result in strong economic growth across the GCC. The paper also makes recommendations to brands on how to successfully cater to an ever-expanding premium market. 

Rhea Saran, Editor-in-Chief, Condé Nast Traveller Middle East said “Put plainly, tourism is good for business feeding into many other sectors – be they aviation, hospitality, retail, food and beverage, art, culture, entertainment or family-related businesses. It cannot be ignored if a country wants to continue to grow and be part of global dialogue. The recent and ongoing diversification of experiences and offerings in the GCC has had a huge impact on the region’s attractiveness as a tourist destination.” 

Ravi Samani, Head of Creative Solutions, Condé Nast Traveller Middle East commented, “This is the first intelligence piece commissioned at Condé Nast Traveller Middle East. “We are very excited about the collaboration especially as Chalhoub Group partners with and represents some of the world’s finest and most luxurious brands across beauty, fashion and homeware.”

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