Bangkok--22 Sep--eTurboNews
The latest research from ILTM shows a continued demand for authenticity
New research issued today shows that the luxury travel market continues to grow, with the world’s most affluent choosing to spend more on holiday experiences that offer them authenticity. ILTM’s research for 2006 provides a comprehensive overview of trends and spends in the luxury travel market.
In a survey of 400 travel suppliers who cater for the needs of the uber rich around the world, 70% agreed that their clients are looking for a more authenticity from their travel experiences, and a further 59% stated that holidays need to be more experience led and enriching than ever before..
The luxury travel market also seems to be glowing with health — both numbers of clients and their spending is well and truly on the up. Almost three quarters of respondents experienced double-digit growth in client numbers over the last 12 months, with 67% having similar levels of growth in client expenditure over the same period. Almost a third of those surveyed noted major increases in client spending of over 20%. This contrasts sharply with the growth in global travel across all sectors, currently standing at around 4.5% for the first four months of 2006, and which is also displaying a gradual slow down.1