Over the past two decades luxury goods consumers have tripled in size from roughly 90 million consumers in 1995 to 330 million in 2014, according to an extensive study of 10,000 luxury consumers, conducted by the international investment firm, Bain & Company.
The 2014 report titled “Lens on the Worldwide Luxury Consumer,” found that consumers of luxury goods and services will grow by 10 million each year and reach 500 million by 2030. It appears that a broader and more international heterogeneous class of luxury shoppers is now surpassing traditional affluent luxury consumers to give way to lthis ong-term growth. The luxury tourism industry goes hand in hand with this growth, as can be seen in the merging of high-end retail, VIP services, and other products with the world’s largest private industry.
As the growth of global luxury consumers has grown exponentially, retail and tourism related industries have discovered a shortfall in qualified professionals to meet the demands of their clients. Apple Inc. is one perfect example of this and when it came time to open their benchmark Apple retail stores, Steve Jobs and company turned to the hospitality industry for its unique customer service model.
Other luxury brands and services have taken note of Apple’s successful retail business model by actively recruiting hospitality and hotel management professionals to lead their teams in developing business and marketing strategies that will maximize their share in lucrative luxury sectors. This demand for qualified hospitality professionals has not gone unnoticed by Les Roches Marbella as over the past three years there have been a growing number of recruitment visits from world-renown luxury brands.
These firms are interested in management-level professionals with extensive knowledge of business management together with the difficult-to-find “soft skills” that hospitality schools instill in their students. On the luxury end of hospitality the customer experience always reigns and Les Roches Marbella has trained professionals with these vital traits for twenty years. Thus, the fusion of luxury tourism with luxury retail brands places Les Roches Marbella at the top of the list for human resources department who are tasked with finding the best talent to grow their companies’ within the coveted luxury arena.
To meet the demand occasioned by the consolidation of luxury tourism and brands, Les Roches Marbella has developed a new postgraduate level diploma program that is unique in its focused approach. The Postgraduate in Marketing Management for Luxury Tourism focuses on preparing professionals to have a unique advantage when competing for highly specialized positions with luxury-oriented businesses. Future growth of luxury consumers together with the consolidation of luxury tourism and high-end retail brands is only beginning to take off. From October 2015, career-minded professionals will have an opportunity to be at the forefront of this growing industry with a specialized postgraduate education that is tailored to meet the demands of prestigious businesses around the world.
For further details about the new Postgraduate in Marketing Management for Luxury Tourism, please visit Les Roches Marbella’s website here.