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The global travel industry is undergoing a seismic shift as consumers increasingly prioritize experiences over material possessions. This trend, known as experiential travel, is reshaping the tourism landscape. Backed by compelling data, a September 2024 study by McKinsey & Company and Skift Research projects the experiential travel market to surpass $1 trillion by 2025. Live events and festivals are emerging as one of the fastest-growing segments, offering unique opportunities for music and lifestyle festival producers. The demand for immersive travel experiences is surging, with live events and festivals leading the charge. McKinsey reports double-digit growth in this segment, driven by a desire for connection, creativity, and cultural immersion. Festivals and concerts have transformed from simple entertainment into essential components of
