PROSPECTS AND OPPORTUNITIES
Continued growth in experiential luxury, driven by ongoing hotel investment
The market for experimental luxury in Turkey is poised for significant growth in constant value terms (2024 prices) throughout the forecast period, primarily fuelled by ongoing investments in new luxury hotels. Notably, the Turkish luxury hospitality group Rixos Hotels has announced plans to launch its flagship property, Rixos Tersane Istanbul.
More high-end fashion brands set to enter luxury hotel landscape
Sustained investment in the development of new luxury hotels by high-end fashion brands is likely to further enhance growth in this category over the forecast period. One recent example of this trend is the recent opening of a luxury hotel by Turkish fashion and design megabrand Vakko in Istanbul during the first half of 2023, marking the group's inaugural venture into the hospitality sector.
Inflationary pressures continue to pose a challenge for operators
In the post-pandemic era, consumers are generally taking fewer holidays, while spending more time traveling and investing more money on each trip. However, high inflation poses a significant challenge for experiential luxury operators.
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Overview:
Understand the latest market trends and future growth opportunities for the Experiential Luxury industry in Turkey with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Experiential Luxury industry in Turkey, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Experiential Luxury in Turkey report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Experiential Luxury in Turkey?
- Which are the leading brands in Experiential Luxury in Turkey?
- How are products distributed in Experiential Luxury in Turkey?
- How important is tourism in evaluating demand for Experiential Luxury in Turkey?
- How is the rise of e-commerce changing the retail and competitive landscape?
- How has COVID-19 and global recession impacted demand for luxury goods? What are the opportunities amidst the adversity?
- Where is future growth expected to be most dynamic?
Experiential Luxury in Turkey - Category analysis
KEY DATA FINDINGS
Renewed focus on international travel is key driver of growth
Domestic and international hotel chains continue to expand within both popular and new destinations
Transformation of historical buildings into hotels provides tourists with enriching cultural experiences
Continued growth in experiential luxury, driven by ongoing hotel investment
More high-end fashion brands set to enter luxury hotel landscape
Inflationary pressures continue to pose a challenge for operators
Luxury Goods in Turkey - Industry Overview
Luxury goods in 2024: The big picture
2024 key trends
Competitive landscape
Retailing developments
What next for luxury goods?
DISCLAIMER
The following categories and subcategories are included:
Experiential Luxury
- Luxury Foodservice
- Luxury Hotels
Experiential Luxury
This is an aggregation of Luxury Hotels and Luxury Foodservice.
See all of our definitionsWhy buy this report?
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This report originates from Passport, our Experiential Luxury research and analysis database.
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