A report commissioned by International Luxury Travel Market has revealed the changing pattern of luxury travel demands globally. The report takes into consideration the impact of the financial crisis and the rapid increase in demand for luxury from the emerging markets. ILTM’s ‘The Future of Luxury Travel’ report – delivered by Horwarth HTL – was published at ILTM Asia in Shanghai – an invitation only event for the most elite of luxury travel buyers from across…
A report commissioned by International Luxury Travel Market has revealed the changing pattern of luxury travel demands globally. The report takes into consideration the impact of the financial crisis and the rapid increase in demand for luxury from the emerging markets.
ILTM’s ‘The Future of Luxury Travel’ report – delivered by Horwarth HTL – was published at ILTM Asia in Shanghai – an invitation only event for the most elite of luxury travel buyers from across Asia Pacific to meet with the world’s most incredible luxury travel experiences.
The report highlights four distinct profiles of luxury travellers for 2011/2:
– the independent minded – seeking the authentic, active and personalised
– the explorer – seeking incredible experiences at limitless budgets
– candidates to luxury – seeking high quality, high service
– streetwise purchasers – younger, social media experts.
The emergence of demand changes show that internationally luxury travellers of today look to be entertained and stimulated rather than simply pampered. The Independent-Minded Luxury Traveller seeks authenticity, simplicity and a commitment to the local environment, paying greater interest in closer contact with local culture as an integral part of their travel experiences. The Explorer too is ready to pay a high price for an outstanding experience off the beaten tracks.
Emerging destinations are increasingly popular, satisfying the demand for the new and exclusive as well as reflecting local experiences. For Candidates to Luxury, time is tantamount and there is a need for all elements of their travel plans to work seamlessly. Equally important for all three of these groups is the development of the personal relationships between luxury buyers and their clients – ‘knowledge is power’.
Streetwise purchasers increasingly utilise social media in the decision making process of travellers, including the luxury travel element of the market, particularly for obtaining information and comparing rates. These travellers are seeking value for money as well as a return on their personal values.
Debbie Joslin, Exhibition Director, ILTM commented: “ILTM’s Global Trends report confirms there is a continued recovery in and demand for luxury travel, as shown by increasing lead times and rates. The role of the luxury travel buyer and their relationship with suppliers has never been more important as the demand for high-level personalisation continues to grow amongst luxury travellers.”
Taking place in Shanghai this week, ILTM Asia reveals the latest and most exclusive new elite travelexperiences from across the world for the exclusive benefit of 364 of Asia-Pacific’s most discerning and influential buyers of luxury travel. The exclusive, ‘invitation only’ event is presenting 370 high-end travel experiences for the benefit of these buyers, from hidden luxury to wild escapes, authentic experiences to exotic secret addresses, elite transportation to wellness retreats and spas, pampered luxury to philanthropic experiences.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
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