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1 – 3 of 3The growth of luxury tourism has been brought to a grinding halt due to the COVID-19 pandemic affecting most parts of the world since early 2020. Although the time for recovery of…
Abstract
The growth of luxury tourism has been brought to a grinding halt due to the COVID-19 pandemic affecting most parts of the world since early 2020. Although the time for recovery of hospitality and tourism industries is still unclear, experience from the SARS outbreak in 2003 showed that the bounce back from consumers could be fast. The group of most affluent consumers, mostly known as HNWIs (high net worth individuals), will resume their original consumption behaviour much sooner than the rest of the market; these affluent consumers are the main target market of luxury hospitality and tourism industries.
This chapter presents different types of luxury tourism, luxury lifestyle, luxury tourists' decision-making and luxury hospitality products. The luxury food and beverage business in Singapore is presented to illustrate the commercial environment during the pandemic.
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