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Opportunities for Asia: 10 Things You Need to Know About Luxury Travel
- 1. 10 Things You Need to Know About Luxury Travel: Opportunities for Asia
- 2. RESEARCH Survey of Affluence& Wealth by the Harrison Group and American Express Publishing SURVEY DATES: JUNE 2010-JUNE 2011 Targeted the top 10% of affluent Americans. Travel + Leisure Asia Survey Results SURVEY DATES: MAY 16 – MAY 30, 2011 Conducted by ROI Research. Average HHI: $175,471 Travel + Leisure Travel Trends Survey SURVEY DATES: JUNE 6 – JUNE 20, 2011 Average HHI: $196,324 International Luxury Travel Market Report June 2011 SURVEY DATE: 2011 Analyzing industry trends and interviewing international luxury travel buyers and suppliers in Asia (Singapore), Europe (London) and the Americas (New York).
- 3. 1 LUXURY OVERVIEW This year, luxury spending is forecasted to increase to $27 billion, with an 11% rise in luxury travel. of Respondents to the Survey of Affluence & Wealth: TOP 3 PRIORITIES 67% 76% BECOME of these consumers consider themselves successful in their HEALTHIER consider personal lives because themselves happy they have more control of their finances SPEND MORE TIME WITH FAMILY SEE MORE OF Family ranked as the top passion at 61% followed by travel at 53% THE WORLD A quieter, more discreet style of luxury is now preferred. SOURCE: INTERNATIONAL LUXURY TRAVEL MARKET REPORT 2011
- 4. 2 WHICH COUNTRIES ARE THEY CONSIDERING VISITING? 1 Hong Kong 40% Thailand 21% OF T+L 2 35% People’s Republic of China 3 34% Vietnam READERS 4 5 Singapore 28% 26% PLAN TO Japan 21% 6 India 20% VISIT ASIA 7 Cambodia 15% Indonesia 8 12% IN THE Malaysia 9 11% Maldives 8% NEXT YEAR 10 South Korea 8% 11 Philippines 7% 12 Taiwan 7% Macau 13 5% Nepal 14 4% Sri Lanka 3% 15 Laos 3% 16 Myanmar 3% SOURCE: TRAVEL + LEISURE ASIA SURVEY RESULTS, JUNE 2011
- 5. 3 T+L READERS SPEND SIGNIFICANT TIME & MONEY IN ASIA AVERAGE # HOTEL NIGHTS LEISURE TRAVEL BUSINESS TRAVEL 10 8 SPENDING ON MOST RECENT TRIP TO ASIA* AVERAGE SPEND TV/RADIO $9,142 1/3 of readers spent $10,000+ *INCLUDES: AIRFARE, ACCOMMODATIONS, FOOD AND BEVERAGES, SHOPPING, ENTERTAINMENT BASE: TRAVELED TO ASIA IN PAST 3 YEARS
- 6. 4 CITIES ARE THE TOP DESTINATION AREAS THEY PLAN TO VISIT COUNTRYSIDE/ CITIES MOUNTAINS/FORESTS BEACHES 97 % 67 % 47 % BASE: PLAN TO TRAVEL TO ASIA IN THE NEXT YEAR
- 7. 5 TOP MOTIVATIONS FOR TRAVELING TO ASIA 1 Sightseeing 55% SIGHTSEEING 2 3 Cultural enrichment One-of-a-kind experiences 52% & CULTURE 4 Experiencing the local cuisine and wine 31% 25% ARE KEY 5 6 Good value Adventure 19% MOTIVATORS 17% 7 Off-the-beaten-path destinations 17% 8 Luxury accommodations 16% 9 Shopping experiences 11% 10 Friendly people 10% 11 Stress relief/relaxation 9% 12 High level of personalized service 9% 13 Spiritual/well-being retreat 5% 14 Volunteer vacations 4% 15 Medical tourism/health travel 2%
- 8. 6 TOP FACTORS INFLUENCING HOTEL CHOICE WHEN TRAVELING TO ASIA 1 Location of accommodations 59% LOCATION + 2 3 Value for price paid Luxury accommodations 46% VALUE HIGHLY 27% 4 Reputation 24% 5 Security/safety IMPACT 23% 6 Free Wi-Fi 17% 7 Frequent guest program HOTEL CHOICE 15% 8 Atmosphere 12% 9 Past experience 12% 10 Bed comfort 12% 11 Knowledgeable + efficient staff 9% 12 Low cost 7% 13 On-premise restaurant/fine dining choices 7% 14 Room upgrade 6% 15 Room choices 4% 16 All-inclusive package 4% 17 Complimentary transfers 4% 18 In-room entertainment 3%
- 9. 7 PERSONAL CONTACT DRIVES TRAVEL BOOKINGS TOP BOOKING CHANNELS DIRECTLY DIRECTLY VIA PHONE VIA WEBSITE 97 % 81 % OTA’S (ONLINE TRAVEL AGENTS: TRAVEL AGENT/ EXPEDIA, TRAVELOCITY, ETC.) AGENCY TOUR OPERATORS 67 % 37 % 26 % SOURCE: TRAVEL + LEISURE TRAVEL TRENDS SURVEY 2011
- 10. 8 WHEN DO THEY TRAVEL? PERCENTAGE OF LEISURE TRAVELERS BY SEASON SUMMER FALL WINTER SPRING United States 78 69 52 60 Canada 59 39 15 21 Europe 44 58 16 43 Caribbean/Bermuda 25 28 47 33 Mexico 23 33 45 36 Central/South America 22 34 56 38 Asia 22 44 40 30 Australia/New Zealand 21 30 51 23 Africa 20 33 35 30 Middle East 20 50 33 26 SOURCE: THE LAUNCHPAD, TRAVEL + LEISURE RESEARCH 2011
- 11. 9 AVERAGE # OF HOTEL NIGHTS FOR LEISURE INTERNATIONAL DOMESTIC LOCATION & 10 11 VALUE WHEN DO THEY BOOK DOMESTIC HOTEL STAYS? DRIVE HOTEL 1 Location CHOICE 2 Value for price paid 3 Past experience 46% 43% 19% 4 Reputation 17% 5 Ability to use frequent guest program 16% 6 Luxury accommodations 15% 7 Free Wi-Fi 14% 8 Bed comfort 14% 9 Star/diamond rating 14% 10 Low cost 13% 11 Security/safety 10% 75% 12 Atmosphere belong to a hotel 9% loyalty program 13 Room choices 7% SOURCE: TRAVEL + LEISURE TRAVEL TRENDS SURVEY 2011
- 12. 10 WHEN DO THEY BOOK DOMESTIC HOTEL STAYS? SHORT-HAUL STAYS ARE TYPICALLY BOOKED LESS THAN TWO MONTHS PRIOR TO TRAVEL LONG-HAUL STAYS HAVE A SLIGHTLY LONGER BOOKING WINDOW OF UP TO FOUR MONTHS # OF WEEKS BOOKED SHORT HAUL TRAVEL LONG HAUL TRAVEL PRIOR TO TRAVEL {DRIVING} {NON-DRIVING} less than 2 weeks 26% 9% 2 to less than 4 weeks 30% 21% 1-2 months 30% 35% 3-4 months 9% 21% 5-6 months 3% 10% 7-8 months 1% 2% 9-10 months 1% 1% 11-12 months 0% 1% Over 1 year 0% 0% SOURCE: TRAVEL + LEISURE TRAVEL TRENDS SURVEY 2011
- 13. 10 continued WHEN DO THEY BOOK INTERNATIONAL HOTEL STAYS? TYPICALLY BOOKED 1-4 MONTHS PRIOR TO TRAVEL # OF WEEKS BOOKED SHORT HAUL TRAVEL LONG HAUL TRAVEL PRIOR TO TRAVEL {FLIGHT TIME LESS {FLIGHT TIME 10+ HRS} THAN 10 HRS} less than 2 weeks 6% 5% 2 to less than 4 weeks 8% 6% 1-2 months 28% 21% 3-4 months 25% 26% 5-6 months 17% 19% 7-8 months 5% 8% 9-10 months 5% 6% 11-12 months 3% 5% Over 1 year 3% 5% SOURCE: TRAVEL + LEISURE TRAVEL TRENDS SURVEY 2011
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