Luxury Tourism Management

Questions and Answers

To increase the income contributed to the host economy from each tourist

USD 1.7 trillion

Providing expensive and exclusive services and experiences to high-spending tourists

The sales revenues per visitor Signup and view all the answers

To increase the income contributed to the host economy from each tourist Signup and view all the answers

Attracting high-spending tourists from around the world Signup and view all the answers

Focusing on the expensive, luxury end of the market Signup and view all the answers

Increased economic benefits for the host economy Signup and view all the answers

To increase the income contributed to the host economy from each tourist Signup and view all the answers

Study Notes

The COVID-19 pandemic has provided an opportunity for policymakers and industry stakeholders to rethink luxury tourism's contribution to optimal economic, social, and environmental outcomes.

Yield in tourism is defined as tourism receipts per visitor at a destination, from an accounting perspective.
Yield approximates sales revenues per visitor. (Chowdhary, 2017)

Target high-spending visitors from around the world to increase tourism revenue.
Develop products and itineraries that can engage visitors for a longer duration, providing a range of options and activities to spend and enjoy.

Annual global tourism export earnings were estimated at USD 1.7 trillion in 2019. (WTO, 2017)
Governments have formulated policies to build the tourism industry, recognizing its economic potential.

Developing 'high-yield' tourism involves moving away from price-conscious mass tourism towards encouraging categories of tourism with higher income contributions to the host economy.
Focusing on the luxury end of the market can achieve high-yield tourism, providing expensive, luxury services and experiences.

Despite its potential, not all governments and service providers prioritize the luxury market in their tourism strategy, questioning why this is the case.