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Global Luxury AND ASSET MANAGEMENT (GLAM) MONITOR

sentiments and behavioUrs of the world’s affluent and high net worth populations

FOCUS ON TRAVEL

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Luxury Travel Experiences


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Responses to this question have been broadly equal over the past three quarters, with minimal variance by age and gender. However, regional variance does come to the fore as North Americans are significantly the most likely to treat themselves to many of the listed experiences on their luxury holidays, particularly travelling business/first class, using room service, staying in a penthouse/suite and frequenting fine dining restaurants.

It is evident that our panellists look for luxury for the full duration of their holidays, including at the airports where relevant: 52% used business or first-class transport and 47% used a VIP waiting lounge. For the holiday itself, 70% of our sample say that they have stayed within a 5* or more hotel within the past three years, with 51% staying in a suite/penthouse room and 38% saying that they have rented a beachfront villa.

Elsewhere, two thirds (65%) have used a spa, with these facilities proving popular with both genders but peaking among women (74%). The continued rise of wellness tourism, now worth almost $650 billion according to the Global Wellness Institute, means that many luxury hotels such as Six Senses have spa facilities at the core of their proposition. Many hotels also accommodate fine-dining restaurants such as Michelin-starred venues on their premises. 67% of our Q1 2019 sample say that they have eaten in a Michelin-starred restaurant while on holiday within the past three years, underlining the enduring appeal of dining out of home.

Unfiltered Base:  1365 global affluent/HNWIs | Source:  LuxuryOpinions/Altiant

Holiday Purchase Intentions


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As expected, the significant majority of our affluent/HNWI respondents continue to travel within their own regions. Nevertheless, they are also often prolific travellers outside of their home regions – for example, only 19% of our affluent/HNWI Asian respondents do not plan to travel to Europe within the next year, and only 37% of Europeans do not plan to visit the Americas. These numbers are broadly flat quarter vs quarter.

The different types of holidays see significant variance in popularity across the regions in our study. For example, 57% of our sample say that they are likely to take a city break within Europe within the next year, falling to 29% in the Americas and just 11% in Middle East/Africa. Europe remains the most popular region and scores above the overall average for all of the different types of holidays stated. The wide variety of cultures and landscapes prove to be popular among not only wealthy Europeans, but also Asians and Americans.

City breaks (57%), sightseeing/tourist holidays (43%) and family holidays (37%) are the most popular types within Europe as cited in Q1 2019. Interestingly, European city breaks rose by 9% vs the previous quarter which could be a signifier of luxury travel intentions for the coming year. APAC and the Americas are generally equally popular for the different types of holidays, with beach holidays and city breaks among the most popular holidays in these regions. Activity and travelling holidays, boat cruises and rural/countryside breaks are the least popular holiday types overall, but do still interest a significant minority in each of the regions.

Unfiltered Base:  1365 global affluent/HNWIs | Source:  LuxuryOpinions/Altiant

Luxury Leisure Travel Spending


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As seen in the previous section, our affluent/HNW travellers like to invest in memorable and indulgent holiday experiences. When all currencies are normalised to US Dollars, 20% of our respondents spent less than $3,500 in Q1 2019, with Asians and Europeans the most likely to moderate their holiday expenditure. A further 27% spent the equivalent of between $3,500 and $7,000, rising to 31% among men and 18-39s.

Moving onto the biggest spenders, North Americans are the most likely region to have invested heavily on their last luxury holiday. 28% of our Q1 2019 sample spent between $7,000-$14,000, while a further 20% spent over the equivalent of $14,000, the latter figure rising to 31% among North Americans. This underlines the particularly high affluence and spending power of the wealthy North American traveller, who often has regularly holidays across the world and spends heavily on various experiences when they do so.

Unfiltered Base:  1365 global affluent/HNWIs | Source:  LuxuryOpinions/Altiant
 
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