Last week we had the pleasure of providing a keynote address at The Luxury Summit in the UK. Students from a range of Universities joined as we discussed the role of the Metaverse, AI and advanced technologies in the tourism sector.
The luxury travel market is worth 2 trillion annually. There are over 1.5 million hotels rooms reserved for high end guests. There has been a 355% growth in demand for luxury cruises since the pandemic. This is a market worth knowing about and an industry that is flourishing.
How does the metaverse fit with the future of travel? At the MTA we believe the future of travel is hybrid, meaning phyical and virtual. The more our lives are blended and we spend more time engaging with technology, the more this vision becomes a reality. In a recent report Deloitte outlined three major trends shaping the future of travel.
- Tech-enabled planning ie virtual agents and try before you buy experiences.
- Responsible travel is now core to the values of luxury spenders.
- Hyperpersonalization – giving the customer exactly what they want based on data, search, understanding of customer habits and needs.
The Metaverse can play a role at every stage of the customer journey – pre, during and post holiday experiences. As well as providing whole new experiences that aren’t catered for on the market today.
As technology continues to evolve, so too will our virtual adventures, opening up new horizons for exploration and discovery. At the MTA we truly believe that the future of travel is hybrid.
In conclusion, luxury travel in the Metaverse represents a convergence of imagination and innovation—a gateway to a world where the impossible becomes possible.
For a copy of the presentation please reach out to us.
Join the Metaverse Tourism Association today to discover the opportunities offered via the hybrid future of travel.
