Opportunities in Luxury Tourism: Trends in UHNWI Demographics and Leisure Interests

Luxury tourism has become a fast-growing industry, as an increasing number of UHNWIs are spending wealth on vacations. In the US alone, the wealthiest 5% spend US$3,115 per person per vacation, totalling more than US$390 billion a year, according to the 2016 US Luxury Travel Report by international travel and tourism consultancy Resonance.

At the same time, there is heightened demand for experiences: rest and relaxation are not the only objective of luxury holidays. UHNWIs are increasingly looking to broaden their cultural horizons, get involved in local activities and learn something new or unique.

A boom in luxury travel spending also leads to a surge in high-end hotels and resorts, private jet companies, luxury tour operators and other related concierge services to serve super-wealthy clients. The key question is how to tailor service offerings to match UHNWIs’ leisure and interests on holidays.

This report identifies opportunities in luxury tourism among UHNWIs in North America (the US and Canada), Europe (Germany, the UK, Switzerland, France and Sweden) and Asia-Pacific (Japan, China Singapore, Hong Kong, India) based on trends in UHNWI demographics and leisure interests.

Scope
A segmentation of UHNWI customers and insight on their requirements from the luxury tourism industry
Demographic trends for UHNWIs in North America, Europe and Asia Pacific by gender, age group, marital status, family size and wealth band
Market sizes and forecasts for UHNWIs at regional and country levels
Key issues and characteristics relating to UHNWIs that will become more important to luxury tourism in the next five years
Primary research providing insights on each of the key countries in regions featured in the report including: the top five sports by wealth band, the top three sports by age group, the top five interests by wealth band and the top three interests by age group
Analysis of the needs of UHNWIs in luxury tourism
Insights on global market opportunities in luxury tourism
Identification of the key opportunities in the luxury tourism industry
Intelligence gained from WealthInsight’s proprietary HNWI database comprising over 120,000 individuals globally
Key Highlights
What factors contribute to the significant opportunities in luxury tourism offered by the growing female UHNWI population?

What is the review period CAGR of the female UHNWI population in countries studied in the report? How does this compare with their male counterparts?

Which demographic segment of UHNWIs offers significant opportunities in luxury tourism? What proportion of the overall UHNWI population do they account for in North America, Europe and Asia-Pacific?

What is the preferred interest of UHNWIs which is offering significant opportunities in developing holiday provision?

Reasons to buy
Investigate the needs of UHNWIs in luxury tourism in North America, Europe and Asia-Pacific and ensure your value proposition is both relevant and targeted to drive revenue growth
Analyze trends in UHNWI demographics and leisure interests, identify those which offer you the best chance to maximize your competitive advantage
Identify new opportunities in luxury tourism among UHNWIs to increase your share of the market
Utilize WealthInsight’s analysis of luxury tourism to make better informed business decisions that will enable you to target UHNWIs more effectively
Companies mentioned
Abercrombie & Kent, Micato Safaris, Resonance Consultancy, Aman Resort, Peninsula Hotels, Ritz Carlton, Four Seasons, Tesla, Shangri-La, Mandarin Oriental, Hyatt, Banyan Tree, Ananda, Absolute Travel, Zicasso, Cox & Kings, Kuoni Group, Scott Dunn, Ker & Downey, Expedia, Tripadvisor.