The Future of Live Tourism: Key Insights from Davos
The Evolution of Live Tourism: Reimagining the Big Event
Community Focus and Stakeholder Alignment
As the world claps for sporting and cultural extravaganzas, experts at the World Economic Forum urge a reconsideration of live tourism's impact.
"The people of Dubai are our priority," says H.H. Latifa Al Maktoum. "Creating a better life is everything."
Deloitte's Anna Marks emphasizes the crucial role of collaboration: "Stakeholders must align to deliver the best experience and create a lasting legacy."
Safety, Security, and Planning
Amidst the revelry, safety remains paramount. Events require extensive crisis management planning and robust security measures.
"We need to think beyond what could go wrong," says Sorrell. "How can we prevent it and prepare an effective response?"
Nation Branding and Authenticity
Live tourism goes beyond local benefits; it can reshape nations' images.
"Nations strive to strengthen their brands, using live events as a transformative tool," highlights Sorrell. "Formula One has played a significant role in country rebranding."
Brands must embrace authenticity and avoid overt commercialization, advises Patrice Louvet of Ralph Lauren.
Digital Integration and Hybrid Experiences
Louvet suggests blending digital experiences with live events. "At Wimbledon, watchers outside the grounds can enjoy the match through our Bond street store's TV-screen windows."
Digital strategies enable personalization, but Marks warns against isolating attendees. "Digital elements should complement, not replace physical experiences."
Changing Formats and Consumer Preferences
Live events must adapt to changing consumer preferences. "Events may become more cost-effective and sustainable," predicts Sorrell.
New formats like Kings World Cup and LIV Golf cater to shorter attention spans and generational shifts.
Balancing Digital Reach and In-Person Connections
The future of live tourism lies in striking a balance between digital reach and genuine human interactions.
"We must create meaningful experiences that resonate across generations," Sorrell concludes.