Experiential luxury is predicted to record a 6% value CAGR (at constant 2024 prices) over the forecast period, as shifting demographics for luxury travellers emerge as one of the key trends for the general travel industry in Australia. During the short-to-mid-term, the divide is anticipated to widen between older travellers, who are spending more and travelling more frequently, and younger ones, who are curtailing their travel plans due to economic pressures.
Given that nature is such a significant focus for Australian tourism, it is unsurprising that sustainability has long been at the forefront for luxury eco-lodges and designer boutique hotels in the country, even prior to the review period. For major international brands and local players alike, the question is now more how to differentiate themselves, when recycled rainwater, solar panels, sustainable sourcing and local produce are generally expected and offered.
According to Euromonitor International’s Travel research, luxury hotels in Australia are expected to maintain high occupancy rates over the forecast period. As tourist volumes continue to rise, substantial investments are being made in terms of expansion and refinement, ensuring that the local hotel and resort industry is set to enter a growth phase.
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Understand the latest market trends and future growth opportunities for the Experiential Luxury industry in Australia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Experiential Luxury industry in Australia, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Experiential Luxury
This is an aggregation of Luxury Hotels and Luxury Foodservice.
See all of our definitionsThis report originates from Passport, our Experiential Luxury research and analysis database.
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