WTM London 2026 highlights shift toward experience-led luxury

The luxury paradox

The opening of World Travel Market (WTM) London 2026 highlighted a complex shift in how people view high-end travel. While many consumers face mounting financial pressure, they are not necessarily abandoning their holiday ambitions. Instead, they are becoming more selective about where they spend their money and what they consider a worthwhile journey.

Research from Tourism Economics shows that 60% of travelers still want luxury holidays, but the definition of luxury is changing. It is moving away from purely expensive physical amenities like premium cabins or five-star hotels. Today, luxury is increasingly defined by intangible values such as authenticity, personalization, and meaningful access to unique cultural encounters.

This shift suggests that travelers are looking for value in different ways. They may be willing to spend more on an exceptional local guide or a private cultural experience while cutting costs on other parts of their trip. For the tourism industry, the challenge lies in identifying which specific elements of a holiday consumers are prepared to pay a premium for in a tighter economy.

Access over excess

Looking toward the next decade, industry experts suggest that the future of travel will be shaped by 'access not excess.' This framework identifies three distinct types of travelers: prestige, enrichment, and connection. Prestige travelers seek exclusivity and recognition, while enrichment travelers prioritize personal development and cultural engagement.

Connection travelers represent a third group that focuses on shared experiences with friends and family. These categories are not mutually exclusive, as a single traveler might seek different types of fulfillment on different trips. This shift provides a roadmap for how tourism products can be developed to meet specific emotional and social needs rather than just providing a service.

This trend benefits a wide range of providers, from large international brands to small, community-based tourism operators. Independent guides and smaller destinations are well-positioned to serve those seeking authentic connections. By focusing on these specific traveler cohorts, businesses can create products that offer deep personal value regardless of the total price tag.

The experience economy

The tourism industry is moving toward an 'experience economy' where the activity itself is often the primary reason for choosing a destination. Rather than being an add-on to transportation or lodging, specialized experiences are becoming the main draw for visitors. This creates significant opportunities for cultural organizations and local communities to participate in the visitor economy.

As a result, the way destinations market themselves is changing. Instead of relying on conventional imagery of landmarks, marketing efforts are shifting toward highlighting neighborhoods, traditions, and local residents. This approach allows for a more diverse range of tourism products that can compete with larger hospitality brands by offering something unique and non-replicable.

However, this shift also raises questions about how the economic benefits of these experiences are distributed. If a destination markets its local culture as a primary attraction, it is important that local businesses and residents benefit financially. Ensuring that the economic gains from experience-led tourism reach the community is a key priority for policymakers and destination managers.

Inclusion as a priority

As the industry doubles down on experiences, accessibility is becoming a critical component of successful tourism. A destination cannot claim to offer exceptional experiences if large groups of people are unable to participate. This means moving beyond basic building regulations to include reliable information, inclusive digital booking, and trained staff.

Accessibility is also being viewed as a significant commercial opportunity. Travelers with disabilities often travel with companions, meaning that improving accessibility can benefit entire travel groups. Furthermore, as the global population ages, creating inclusive environments helps destinations serve a growing demographic of older travelers who may have different physical or sensory requirements.

The goal for the industry is to make accessibility an integral part of product development rather than a separate policy goal. When accessibility is woven into the core of a tourism offering, it becomes a standard feature of the experience. This ensures that the 'experience economy' remains open to everyone, regardless of their physical, sensory, or cognitive needs.

The role of AI

Artificial intelligence is another major theme at WTM London 2026, specifically regarding how it will shape the traveler journey. AI-powered tools are increasingly used by travelers to discover new destinations, compare various options, and build personalized itineraries that fit specific budgets. For suppliers, these tools can improve demand forecasting and help provide more personalized customer service.

While AI offers many benefits, the commercial impact may not be felt equally across the industry. Large travel platforms and international hotel groups have the resources to invest heavily in these systems and the data required to run them. This could lead to a situation where smaller operators become more dependent on the platforms that control how their products are discovered and recommended.

For independent tourism businesses, the focus is on maintaining visibility and commercial independence in an AI-driven world. The challenge is not just adopting the technology, but ensuring that small and medium-sized enterprises can still compete. As traveler discovery moves toward automated systems, finding ways to remain visible and unique will be essential for the next decade of tourism.