1. Market Research
  2. > Travel and Tourism
  3. > Tourism Market Trends
Tapping into the Luxury Travel Market: Analysis of luxury tourist profiles and trends, market performance, and key opportunities

Tapping into the Luxury Travel Market: Analysis of luxury tourist profiles and trends, market performance, and key opportunities

  • February 2018
  • 28 pages
  • ID: 5353554
  • Format: PDF
  • GlobalData
Up to $270 off Until May 31st 2020

Summary

Table of Contents

Search Inside

Tapping into the Luxury Travel Market: Analysis of luxury tourist profiles and trends, market performance, and key opportunities

Summary
GlobalData’s "Tapping into the Luxury Travel Market", report provides an in depth analysis on the key industry and consumer trends in luxury tourism for 2018. It offers a particular insight into the preferences of UHNWIs and HNWIs and by country, gender and age. The report also examines successful industry case studies, allowing clients to understand how players have sought to capitalize on the emerging trends in the luxury travel segment.

Whereas luxury travel was once associated with first-class transportation, five star accommodation and Michelin starred restaurants, upscale tourism is gradually changing, with travelers shifting from opulence to exclusive experiences. Changing consumer perceptions and priorities are redefining the concept of luxury in travel; high appreciation of different cultures and a prioritization of experiences over ownership of goods has resulted in travellers seeking deeper travel experiences.

Upper middle class, high-net worth (HNWI) and ultra-high net worth individuals (UNHWI) were the main consumers able to afford to go on luxury trips. However, as the concept of luxury tourism is changing, so does the target audience for such holidays.

For instance, millennials are not among the wealthiest generations and hence would not be considered a target demographic for luxury tourism under its traditional meaning. However, the concept of luxury is interpreted differently by different people; whereas millennials may not be willing to spend much on upscale accommodation, they may be willing to trade up on exclusive activities.

The report allows clients to understand how different cohorts present opportunities for luxury tourism businesses. By analysing consumer and market trends, it provides an insight into how such businesses must proceed to successfully target such consumer segments.

Scope
- The luxury travel market is growing and diversifying. Whereas Upper middle class, high-net worth (HNWI) and ultra-high net worth individuals (UNHWI) were the main consumers able to afford to go on luxury trips, other cohorts are showing increased interest in luxury travel.
- The concept of luxury travel is changing from opulence to exclusive, once-in-a-lifetime opportunities.
- The quest for authenticity, health and wellness, responsible and adventure travel are the key trends for luxury tourism in 2018.
- Customization and personalization are gaining increasing importance in luxury tourism. Technology will also play a key role in attracting younger, luxury travellers.

Reasons to buy
- This case study provides readers with insight into the key trends and developments in the luxury travel segment for 2018, as well as key suggestions for luring potential luxury travellers across cohorts. Therefore, it allows clients to develop an informed strategy for effectively tapping and growing within luxury tourism.

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
10% Off

($900)

  • 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.
Ahmad 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

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at researchadvisor@reportlinker.com to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - researchadvisor@reportlinker.com or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.

ref:plp2018

Reportlinker.com © Copyright 2020. All rights reserved.

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

Make sure you don’t miss any news and follow us on