Not so long ago, we believed that the European Union was inseparable and the election of Donald Trump was impossible.
“Now, nearly 80% of US luxury travellers believe there is a significant probability of serious social unrest at home, and nearly two-thirds are concerned with the impact Trump is having on the US reputation abroad.” *
Fears of political environments are not restricted to the US, however, as demonstrated by the very recent state of emergency imposed by authorities in the Maldives. Impacting the luxury market on the Indian Ocean archipelago, the political upheaval has led to hundreds of holiday cancellations:
"We have a higher market for Chinese and Indian travellers, and we are seeing most of the cancellations from these markets," a tour operator in Malé has told Reuters, on condition of anonymity.
We therefore asked ILTM movers and shakers how political unrest is affecting the way we buy and sell luxury.