Guest Post: Future-proofing travel loyalty for the experience economy

Chris Ross, chief brand officer & EMEA executive chair of Collinson International, shares how to keep pace

Travel loyalty is undergoing a fundamental shift. With 84% of consumers now prioritising rewards and benefits packages over issuer reputation, the traditional playbook of airline miles and booking discounts is no longer sufficient to capture customer attention.

Today's travellers expect more than points accumulation. They seek experiences that enhance their entire journey, representing a significant departure from historical loyalty models, where success was primarily measured by redemption rates and spending thresholds.

This evolution is particularly apparent among younger generations, who value immediate and tangible benefits, highlighting how travellers increasingly seek flexibility in how they spend their time at the airport. For example, 55% choose to dine or drink before a flight, reinforcing the need for loyalty programmes to engage travellers at multiple touchpoints – offering more beyond the traditional airport experience.

60% of travellers - rising to 71% among Gen Z - report that automated, streamlined experiences encourage them to spend more. As expectations rise, integrating technology and creating seamless service delivery have become key differentiators for loyalty programmes aiming to build lasting relationships.

But the desire for instant value is only part of the story. Broader lifestyle trends, particularly the growing focus on wellness, are also shaping what travellers want from loyalty programmes. Projections show the wellness tourism market growing from $637 billion in 2022 to $1.35 trillion by 2028 - more than doubling in just six years. This growth reflects changing consumer priorities, with travellers increasingly viewing wellness as an integral part of their travel experience.

Recognising this shift, brands are increasingly forging strategic partnerships with wellness companies to integrate offerings such as movement sessions, breathwork, and meditation support into the travel experience These offerings address practical travel challenges while demonstrating that loyalty programmes can extend beyond traditional boundaries to support customers' broader lifestyle goals.

Beyond wellness, personalisation now sits at the heart of effective loyalty strategies. Rather than a one-size-fits-all approach, successful programmes work to analyse spending patterns, travel frequency, and demographic data to deliver relevant experiences. For example, integrating local experiences directly into loyalty platforms can turn fragmented travel planning into a more cohesive and personalised journey while creating additional engagement opportunities.

To keep pace with changing traveller expectations, financial services providers are increasingly looking to partner with comprehensive travel benefits programmes which bring together three important elements: strategic partnerships that expand benefits beyond the traditional travel sphere; technology that streamlines and unifies the customer experience; and tailored offerings that reflect the needs and behaviours of different markets. By taking this approach, loyalty programmes can stay relevant and compelling for travellers worldwide.

Research highlights the importance of getting this evolution right. A new study found that 62% of consumers would consider switching cards if they lost access to exclusive benefits, while 61% report that relevant benefits encourage more card usage.

Lounge access remains highly valued, consistently ranking as a preferred travel benefit. However, successful programmes are expanding beyond lounges to include spas, gaming areas, dining discounts, and local experiences.

Ultimately, the strongest loyalty programmes are those that recognise travel as part of a broader lifestyle, not just a series of transactions. Success requires continuous adaptation based on customer feedback and market evolution and increasingly, the strategic and complementary use of AI to enhance these experiences. When leveraged effectively, AI can drive greater personalisation, streamline interactions, and deliver the fast, seamless experiences customers now expect. This not only boosts satisfaction and loyalty but helps brands stay competitive in a rapidly evolving marketplace.