SINGAPORE, 9 July 2024: Affluent travellers account for approximately 36% of the world’s travel spending, and their influence is likely to grow, according to a recent study from Marriott International.
The study ‘New Luxe Landscapes Emerging Luxury Travel Trends in the Asia Pacific’ by Marriott International’s Luxury Group* explores how luxury evolves across the region and delves into the affluent traveller’s travel patterns, preferences and influences.
The study identified high-net-worth travellers in the key markets of Japan, South Korea, India, Australia, Singapore, and Indonesia to gain a broader overview of consumer behaviour.
Three new luxury travel personas
Three distinct new groups of luxury travellers have emerged. They are the ‘Venture Travelist’ who seeks business opportunities when travelling, the ‘Experience Connoisseur’ Millennials who travel for enrichment, and the ‘Timeless Adventurer’, 65-plus who build their own itineraries and explore places before they become famous.
Venture Travelist
The next-generation Bleisure tourist, the Venture Travelist, prioritises holiday destinations that will generate business opportunities. While they enjoy their vacation with their family and loved ones, they are always looking for a deal. Entrepreneurs at heart, they explore a location, shopping for local products and antiques, and looking to forge business connections with members of the local community.
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 explore a destination deeply, value personalisation, and actively seek exclusive experiences.
Timeless Adventurer
Debunking every stereotype of the over-65 ‘silver set travellers’, 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.
Study standouts
68% spend more on leisure travel, and 74% of respondents plan an intra-regional holiday within Asia-Pacific (APAC).
Australia is the top destination ahead of Japan, with 46% planning to visit.
In India’s outbound travel market, high-net-worth travellers (HNW) are driving luxury travel, with 89% planning to spend more in the next 12 months.
High-end gastronomy is the primary driver for luxury travel, with 88% planning holidays around food.
Extended experiences
The research among HNW travellers in Australia, Singapore, South Korea, Japan, Indonesia, and India reveals they travel frequently and take longer holidays, especially across the Asia Pacific region.
An average of six leisure trips are planned within the next 12 months, while 33% of respondents plan at least seven holidays this year. On average, a short stay comprises three nights, while an extended stay is two and a half weeks. For many, the kinship and connection within a group enhance the richness of the travel experience, with over 70% choosing to travel with family or friends.
*The Findings are from a research report commissioned by Marriott International Luxury Group and conducted from 18 April 2024 to 31 May 2024. The study targeted the wealthiest 10% of residents in Australia, Singapore, India, Indonesia, South Korea, and Japan, with 200 respondents from each market.
