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Today’s business leaders and consumers alike are facing turbulent economic times. The goal of any business is to be profitable but there is no doubt that several recent world events have made it incredibly difficult for some. Amid these challenges, businesses are striving for growth in 2024 but to do so requires the prioritisation of customer satisfaction.

Across the leisure industry, businesses ranging from hospitality through to theme parks have to adapt their ROI models to rapidly changing guest expectations. Today’s consumers want shared entertainment experiences that offer something unique every time. To meet these high expectations, the leisure industry landscape has morphed by merging two previously separate worlds: food & beverage leisure and play & entertainment leisure.

The booming experience economy
Recently, Millennials and Gen Zers have continued to drive the experience economy by spending more on memorable experiences over material possessions, and their expectations for high-quality entertainment-led, social experiences have grown rapidly. A recent Europe-wide study indicates that this trend among the ‘experience generation’ is likely to continue. In fact, 88 percent of those surveyed planned to prioritise spending the same or more on experiences in 2024 (compared to 2023). The study also reveals that among the top reasons for booking an experience is to socialise with friends and family, while food-related or family experiences were among the top experiences of choice. These findings show that investing in delivering high-quality shared experiences is crucial to drive business growth and maintain competitive advantage.

While the experience economy has been in place for a long time, there are a few key factors for its recent evolutions. Following the pandemic we have seen more and more businesses in the leisure industry merge with social activities. Supply chains disrupted during Covid continue to be impacted by an increased cost of materials forcing operators to re-evaluate the profitability of their current business models. In addition, people emerged from lockdown with a new appreciation and desire for spending time with friends and family, and experiencing new and exciting events. These factors have given rise to ‘eatertainment,’ a concept born out of the collision of two leisure sectors – food & beverage and play & entertainment – that is both mutually beneficial to businesses and meets visitors’ needs.

Learning from industry advancements
Businesses across the industry globally have recognised the importance of focusing on the entire visitor journey. Disneyland Paris Resort, for example, recently announced a huge investment to reimagine the entire guest experience from entertainment to dining and shopping. Similarly, mega developments in the Middle East, such as Qiddiya in Saudi Arabia are integrating entertainment, food and sports into one destination, delivering fresh experiences to guests every time they visit.

Businesses can take valuable insights from these developments by considering how to bring together multiple aspects to create a must-see destination. With guest expectations higher than ever, many businesses are turning to immersive technologies like mixed reality (MR) to meet the demand.

MR technology has hit a level of maturity and is more reliable and accessible both from a usability and an economic point of view, compared to just a few years ago. Additionally, MR can transform spaces into countless fantastical immersive worlds for groups, delivering the kind of social, entertainment-led experiences that visitors want.

Perfect harmony
Here are a few key considerations for any business trying to achieve the delicate balance of delivering high-quality guest experiences with profitability. It’s clear that today’s audiences value meaningful, social, entertainment-led experiences so individual digital experiences are going to become less popular than they have been previously. Operators should aim to nurture both entertainment and social aspects equally in available experiences. Audiences want the freedom of choice. It’s important for businesses to build a diverse content library that appeals to all ages and interests and provides guests with the flexibility to choose a different experience each time they visit. Consider integrating newer technologies, such as immersive VR, to make experiences more engaging, interactive and personalised so that it’s different every time it is played. And this doesn’t have to be costly; turnkey solutions can see a return on your investment quickly without the financial upheaval of building solutions yourself.

Balancing customer satisfaction with ROI is an ongoing journey. For the leisure industry, the answer is very much about combining worlds: eating and entertainment, the real and the imagined, the physical and the virtual. By embracing guest experience as a priority and using emerging technologies like immersive VR to meet guest expectations, businesses can navigate the challenging economic landscape with greater confidence.

“One day, back in May actually, I found this big mass on my neck,” Williams says in the video. “I was mortified by it. I got tests done, everything you could imagine, everything was negative.”

The mass was diagnosed as a benign branchial cyst. In the caption, Williams wrote that her doctors said she didn’t need to get it removed, “but it kept growing.” Once it got large, her doctors advised her to remove it as soon as possible, since it could leak or get infected.

Here’s what you need to know about the type of cyst Williams had.

What are cysts?

The most common kinds of cysts are epidermoid cysts, which form beneath the skin and are small, harmless bumps most commonly found on the face, neck, or trunk, according to the Mayo Clinic. Epidermoid cysts are caused either by cells that move deeper into the skin rather than shed, or from irritation or injury to the skin or a hair follicle.

They are often slow growing and painless, rarely causing problems or needing treatment; however, cysts are removed when they are bothersome, break open, or become painful or infected.

What is a benign branchial cyst?

The type of cyst Williams had is different from the everyday cysts people usually encounter. A branchial cyst, according to the Cleveland Clinic, is a small fluid-filled sac that may look like a lump under the skin on the side of the neck. It is considered one of the most common neck mass, and while Williams admitted she was “a little scared,” it is largely harmless.

These cysts are considered congenital, meaning they are present at birth. While children are more likely to be diagnosed with them, they can become noticeable later in life if they are infected.

@serena Back in May I found a lump showing on my neck. I immediately went to the doc got a mri and was told I have a brachial cyst. Have you ever heard of that? They said I don’t need to get it removed if I don’t want. So I did not get it but it kept growing. I decided to get more test and 3 test and one biopsy later everything is still negative but doctors advised I get it removed asap because it was the size of a small grapefruit and it could get infected or worse leak. So this is me removing it. I am feelimg so grateful, and fortunate everything worked out, and most of all I’m healthy. I still made it to American doll with Olympia as promised. And yes all is ok. 🙏🏿🙏🏿 #fyp #foryourpage #serenawilliams #mom ♬ original sound – Serenawilliams

What causes a branchial cyst?

The Cleveland Clinic says that branchial cysts can form during fetal development, when branchial arches—which are responsible for developing certain parts of your head and neck—don’t fuse, or grow together. When spaces are left between the arches, certain branchial anomalies like branchial cleft cysts can develop.

How did it get so big?

Branchial cysts can grow if they become infected, usually from an upper respiratory tract infection like the common cold, according to the National Institute of Health. The cyst can also become infected and form an abscess, or a painful, puss-filled pocket.

Once branchial cysts begin growing, doctors will advise immediate removal to prevent further infection. The cyst rarely returns after removal, says the Cleveland Clinic, and the surgery will likely solve the problem entirely. 

For Williams, though the cyst was out, she was exhausted by the process: In the same video explaining her surgery, she included a clip of herself taking her daughter to the American Girl Doll store, pointing out the bandage on her neck, saying she “needed to keep showing up.”

Adds Williams: “I’m gonna go home and pass out.”

For more on celebrity health:

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By Nicolas Janvier, CFA

As Election Day approaches, financial markets are bracing for a period of heightened volatility. With the race expected to be razor-thin, investors are confronting uncertainties about the outcome. However, history shows that once results are settled, markets