When In Doubt, Retreat: Safe Spaces To Recharge As A Commodity
By Majella Mark
The African American traveling market has increased by 24% between 2010-2018, totaling $15B
A retreat can range from a couple hundred dollars to nearly $4K for one week
The emphasis on personal endeavors, while traveling for leisure is a practice that will become the norm. “Cultural” travelers are the highest spenders, investing on average $2,078 per trip compared to the average African American who spends around $1,345. Since this group is five percent more likely to travel for the purposes of a convention, conference, or seminar compared to other races, it’s time to retreat, recharge and make money while doing it.
Why This Matters: The African American traveling market has increased by 24% between 2010 and 2018, totaling $15 billion. In total, the black travel sector comprises a nearly $50 billion market, according to Mandala Research. If we look at hospitality giant AirBnB, valued at $35 billion as an example, it created a separate business component for residents in the form of hosting and curating experiences for visitors. Black thought leaders, creatives and experience coordinators have a chance to jump start a successful business in this space with financial flexibility.
Wellness tourism is currently a $639 billion market and expected to increase to nearly a trillion dollars by 2022. International wellness tourists spend 53% more than any other group, with some of the top visited countries being Costa Rica, Italy and Mexico. With all this financial growth in self development, there is a window of opportunity to create travel experiences while exploring the world yourself. Hosting a retreat doesn't necessarily have to be meditation, dieting or yoga. Coordinating a traveling sanctuary can focus on writing, volunteering or spirituality.
Situational Awareness: There are numerous black owned companies that regularly hosts yoga and meditation retreats at amazing resorts in Phoenix, Morocco, The Poconos and Grenada. Some of these companies that are successfully operating well received vacation experiences are The Women of Color Healing Retreats, OYA Retreats and Om Noire. Experiencing a retreat designed for people of color is a great way to take notes on the business model and gain some inspiration to find your own voice in the industry.
CBx Vibe: “I am light” India Arie