The evolving role of experiences in travel
Today’s travelers don’t treat experiences as afterthoughts. Their travel decisions are increasingly based on specific activity interests
Despite the enduring excitement about experiences and the large pool of value they represent, the travel industry has yet to crack the code on an approach that can simultaneously please travelers, make sense for experience providers, and produce profit at scale for distributors and larger stakeholders.
Key takeaways
The global marketplace for travel experiences offers a more than $1 trillion opportunity. Younger generations, in particular, demonstrate an eagerness to splurge on experiences, suggesting the sector will continue to expand.
Yet nearly half of the business of experiences is still transacted offline.
As experience booking goes digital, a considerable share could be claimed by organizations that can anticipate and eliminate pain points at every stage of the process, up and down the value chain.
Get the full story at McKinsey and download the report 'The Evolving Role of Experiences in Travel'