Positive Luxury has also declared 2020 as a year of nature in its latest Predictions Report, Decoding the Next Decade of Change, which was released this month.

It is pulled together using case studies, reflections within the company and interviews with leaders such as WWF’s Tanya Steele and the World Business Council For Sustainable Development’s Peter White.

“Nature and biodiversity are things that brands from all sectors will need to address in their strategies,” said Diana Verde Nieto, Positive Luxury’s co-founder and chief executive.

The report said the introduction of tourism fees in Venice, Japan and New Zealand is an indicator that the need to combat overtourism is entering the public consciousness.

It also says green tourism is driven by both environmental concerns and a desire to disconnect from the 21st century, advising luxury businesses to reduce waste and focus on heritage and local value.

Positive Luxury used The Bicester Village Shopping Collection as an example of a high-end brand successfully repurposing surplus stock.

There are now 11 villages in Europe and China, each with its own collection of outlet boutiques, and the collection can boast 25 years of double-digit growth.

“It has always been core to our belief that wherever we build new tourism destinations, it is our responsibility to ensure that they are rooted within the local community,” added Sylvie Freund-Pickavance, strategy and business development director at Value Retail, creator of The Bicester Village Shopping Collection.