NEW REPORT REVEALS CHANGING FACE OF LUXURY TRAVEL IN ASIA PACIFIC
NEW REPORT REVEALS CHANGING FACE OF LUXURY TRAVEL IN ASIA PACIFIC |
[01-July-2024] |
The Luxury Group by Marriott International launches extensive research among affluent travelers across six markets
SINGAPORE, July 1, 2024 /PRNewswire/ -- 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 traveler 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 own 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 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 A Fascination for Food New Traveler Personas i) The 'Venture Travelist' ii) The 'Experience Connoisseur' iii) The 'Timeless Adventurer' The full report is available to download. Note to Editor Refer to Annex A for additional data on the preferences of luxury travelers across the APEC region. About Marriott International About Marriott International Luxury Portfolio ANNEX A: 10 INTRIGUING FACTS ABOUT THE CHANGING FACE OF LUXURY TRAVELERS ACROSS THE APAC REGION Most engaged travel market is India. 89% of high-net-worth (HNW) Indians are planning to spend more on their leisure travel, looking at six trips over the course of the year, with an average three-four nights for a short trip and two-three weeks for a long holiday. Most self-sufficient travelers are Singaporeans. 61% prefer to travel independently and curate their own itinerary, versus 43% across the region. Most pressing social issue is sustainable travel. Mindful of the impact their travel has on the environment, 80% of HNW travelers say a hotel's sustainability and environmental practices is a consideration when deciding where to stay. 43% want to see hotel restaurants offering locally-sourced food products and a further 35% expect to see effective management of food waste. Most likely to holiday longer are Australians. With Australians entitled to a minimum of four weeks annual leave, it's not surprising they take the longest holidays with 73% planning a minimum two-week getaway and 33% taking over three weeks. Similarly, a third of Indonesians expect their trips will extend beyond three weeks. Most important factor in a luxury experience is a sense of security. Most respondents (91%) say a safe environment is more important than exceptional service (41%), engaging in an exclusive experience (36%) or having a truly personalized experience (33%). Best reason to shop overseas is to purchase locally made products. For HNW individuals, shopping is a key driver to travel and 85% of respondents say access to locally-made products is a key consideration when deciding where to travel. Most likely to stay within their hotel are South Korean travelers. 54% of travelers surveyed would rather spend time at their hotel or resort rather than exploring local attractions or engaging with the locals. Most favored cuisine is authentic local dishes, with over 62% preferring to explore unfamiliar local flavors over food from home. Top mark of a luxury holiday is discovering a new destination, with 78% regarding it as important or very important. Most valued luxury experience is an immersive and refined sense of space, with 80% defining luxury travel as being surrounded by refined craftsmanship and exquisite design.
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Company Codes: NASDAQ-NMS:MAR |