1. Market Research
  2. > Leisure
  3. > Sports Market Trends

Opportunities in Luxury Tourism: Trends in UHNWI Demographics and Leisure Interests

  • March 2016
  • 70 pages
  • GlobalData
Report ID: 3722724

Summary

Table of Contents

Search Inside

Synopsis
Luxury tourism has become a fast-growing industry, as an increasing number of UHNWIs are spending wealth on vacations. In the US alone, the wealthiest 5% spend US$3,115 per person per vacation, totalling more than US$390 billion a year, according to the 2016 US Luxury Travel Report by international travel and tourism consultancy Resonance.

At the same time, there is heightened demand for experiences: rest and relaxation are not the only objective of luxury holidays. UHNWIs are increasingly looking to broaden their cultural horizons, get involved in local activities and learn something new or unique.

A boom in luxury travel spending also leads to a surge in high-end hotels and resorts, private jet companies, luxury tour operators and other related concierge services to serve super-wealthy clients. The key question is how to tailor service offerings to match UHNWIs’ leisure and interests on holidays.

This report identifies opportunities in luxury tourism among UHNWIs in North America (the US and Canada), Europe (Germany, the UK, Switzerland, France and Sweden) and Asia-Pacific (Japan, China Singapore, Hong Kong, India) based on trends in UHNWI demographics and leisure interests.

Summary
This report identifies opportunities in luxury tourism among UHNWIs in North America, Europe and Asia-Pacific.

It firstly looks at the needs of UHNWIs in the three regions. The report’s main chapter examines opportunities in luxury tourism by highlighting UHNWIs’ demographic trends, sports and interests by wealth band and age group.

The report aims to define customers in luxury tourism by segmenting them based on their characteristics, wealth band, interests and sports. In this way, high-end tour operators, luxury hotels and concierge services can plan strategies and customize product and service offerings accordingly.

It uses WealthInsight’s proprietary HNWI database comprising over 120,000 individuals.

Scope
The report is divided into three main chapters, covering the following areas:

• The needs of UHNWIs in luxury tourism

• Global market opportunities in luxury tourism

• Key opportunities in the luxury tourism industry

Reasons To Buy
• Understand the needs of UHNWIs in luxury tourism in North America, Europe and Asia-Pacific.

• Be informed about trends in UHNWI demographics and leisure interests, and address each trend with regards to luxury tourism.

• Be aware of new opportunities in luxury tourism among UHNWIs, and its future outlook.

• Build robust expansion strategy and marketing strategy to target UHNWIs in luxury tourism more effectively.

Key Highlights
• The growing female UHNWI population offers significant opportunities in luxury tourism. WealthInsight analysis shows that the female UHNWI population in countries studied grew at a review-period CAGR of 5.3%, as opposed to a CAGR of 4.4% for male UHNWIs.

• Married UHNWIs with small and mid-sized families drive demand for family holidays.

• UHNWIs aged above 50 offer significant opportunities in luxury tourism. In North America, they accounted for over 64% of UHNWI population in 2015, over 70% in Europe and over 62% in the Asia-Pacific.

• Social work a preferred interest of UHNWIs offering significant opportunities for philanthropic holidays.

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 60 Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

Veronica helps you find the right report:

Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

Purchase Reports From Reputable Market Research Publishers

Sports Protective Equipment Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025

  • $ 5795
  • Industry report
  • May 2017
  • by Transparency Market Research

Global Sports Protective Equipment Market: Overview Sports equipment market is anticipated to observe steady growth during the forecast period. Growing participation in sports activities coupled with rising ...

The UK Sports Market 2017 - 2022

  • $ 5759
  • Industry report
  • May 2017
  • by GlobalData

The UK Sports Market 2017 - 2022 Summary UK sports market is forecast to reach £10.6bn in 2022, up from £9.0bn in 2017. The health & wellness trend combined with consumers transferring spend to leisure ...

Global Sports and Fitness Clothing Industry

  • $ 4950
  • Industry report
  • July 2017
  • by Global Industry Analysts

This report analyzes the worldwide markets for Sports and Fitness Clothing in US$ Million by the following Segments: Sports Apparel, and Fitness Clothing. The report provides separate comprehensive analytics ...


ref:plp2016

Reportlinker.com © Copyright 2017. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.