New Report Reveals Changing Face Of Luxury Travel In Asia Pacific

New Report Reveals Changing Face Of Luxury Travel In Asia Pacific

 ASIA PACIFIC

INDIA, JULY 2, 2024 – As the Asia Pacific region continues to be the growth engine for luxury travel, a new comprehensive report from the Luxury Group by Marriott International has identified new expectations and travel preferences among high-net-worth (HNW) travelers in Asia Pacific. Across the region, 68% are planning to spend more on travel over the next 12 months – 89% among Indians – with 74% planning to travel within Asia Pacific and 88% prioritizing gastronomy as the reason to travel. One in four of all holidays planned (25%) are celebrations. Three distinct new groups of luxury travelers have emerged – the ‘Venture Travelist’ who seeks business opportunities when traveling, ‘Experience Connoisseur’ Millennials who are traveling for enrichment, and ‘Timeless Adventurer’, over 65s who are building their itineraries and exploring places before they become popular.

“Our New Luxe Landscapes Report provides deeper behavioral insights and motivations into elite travelers from Asia and the Pacific,” says Oriol Montal, Managing Director, Luxury, Asia Pacific (excluding China), Marriott International. “Whether it’s discovering new culinary experiences, traveling with their family or friends, or looking to forge connections with the local community, our research has identified new traveler archetypes, and provides Marriott International with new understandings in catering to this discerning traveler segment.”

Deeper Extended Experiences With Their People

The research among HNW travelers in Australia, Singapore, South Korea, Japan, Indonesia, and India reveals they are traveling frequently with longer holidays, especially across the Asia Pacific region. An average of six leisure trips is planned within the next 12 months while 33% of respondents are planning at least seven holidays this year. On average, a short stay comprises three nights while a long stay is two-and-a-half weeks. For many, the kinship and connection within a group enhances the richness of the travel experience, with over 70% choosing to travel with family or friends.

Australia is the destination of choice (46%), above Japan (42%), and Hong Kong, China (27%). 69% of India’s HNW tourists are planning a trip to Australia and it is the top destination of choice for Indonesian, Japanese, and Singaporean travelers.

Increasing Demand in India

In the most active and engaged travel market, 89% of Indian HNWs say they are planning to spend more on travel. Families and friends are touring together to mark key milestones and attend a private function or event, with 38% planning a trip with friends and 33% making theirs a celebratory trip.

A Fascination for Food

88% are picking their holiday destination based on discovering a new food or culinary experience. Acutely aware of dining trends, almost half of the respondents (49%) describe a fine dining experience as an ideal night out. Reinforcing this point, 83% will choose a destination to visit an award-winning restaurant and 35% agreed they would spend more on unique culinary experiences. When choosing a hotel, 81% of HNW travelers make their selection based on fine dining options and 83% choose a destination so they can visit a celebrated restaurant.

New Traveler Personas

With more disposable income for holidays and a growing population of aging travelers, the research has identified three new categories of affluent travelers. These include:

i) The ‘Venture Travelist’

The next-generation Bleisure tourist, the Venture Travelist prioritizes holiday destinations that will generate business opportunities. While they enjoy their vacation with their family and loved ones, they are always on the lookout to secure a deal. Entrepreneurs at heart, explore a location, shopping for local products and antiques, and looking to forge business connections with members of the local community.

ii) The ‘Experience Connoisseur’

Predominantly millennials, Experience Connoisseurs plan their leisure travel as an opportunity for personal enrichment. They travel extensively and see the experience as an investment in their mental and physical well-being. They want to deeply explore a destination, value personalization and actively seek exclusive one-of-a-kind experiences.

iii) The ‘Timeless Adventurer’

Debunking every stereotype of the over-65 ‘silver set travelers’, Timeless Adventurers are keen explorers who want to immerse themselves in a destination. They’re less interested in tourist attractions and more drawn to what gives the destination a sense of place, what makes it unique and memorable.

Rabindra

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