APAC luxury travelers spending more: Marriott

ASIA PACIFIC — Sixty-eight percent of high-net-worth (HNW) travelers within Asia Pacific are planning to spend more on luxury travel over the next year, with 74% planning an intra-regional holiday within the APAC region, according to the new report from the Luxury Group by Marriott International.

In addition, the study found that 89% of HNW travelers in India plan to travel more over the next 12 months, with 74% planning to travel more within APAC and 88% prioritizing gastronomy as the reason for travel.

The study found three distinct new groups of luxury travelers have emerged: 

• The ‘Venture Travelist’: Travelers who are the next generation of bleisure tourists who prioritize holiday destinations that will generate business opportunities
• ‘Experience Connoisseur’: Millennials who are planning their leisure travel as an opportunity for personal enrichment
• ‘Timeless Adventurer’: Travelers over 65 who are building their itineraries and exploring places before they become popular

Where and for how long?

The report found that HNW travelers in Australia, Singapore, South Korea, Japan, Indonesia and India say they are traveling more frequently and taking longer holidays. Those travelers have six leisure trips planned in the next 12 months, and 33% of respondents have seven holidays planned this year. A short stay averages three nights, while a long stay averages over two weeks.

Australia is the top destination of choice (46%), with Japan second (42%), followed by Hong Kong (27%).

Dining is a key decider for HNW travel, with 49% of respondents describing a fine dining experience as an ideal night out and 83% saying they will choose a destination to visit an award-winning restaurant.

When choosing a hotel, 81% of HNW travelers make their choice because of dining options, while 83% will choose a destination so they can visit a top restaurant.

Click here to download the report.

Other tidbits from the report:

• The most self-sufficient travelers are Singaporeans, with 61% preferring to travel independently and curate their itinerary, compared to 43% across the region. 
• The most pressing social issue is sustainable travel, with 80% of HNW travelers saying a hotel’s sustainability and environmental practices are a consideration when deciding where to stay and 43% wanting to see hotel restaurants offering locally sourced food products. 
• The travelers that are most likely to holiday longer are Australians, with 73% planning a minimum two-week getaway and 33% taking over three weeks. 
• The most important factor in a luxury experience is a sense of security, with most respondents (91%) saying a safe environment is more important than exceptional service (41%) or engaging in an exclusive experience (36%).
• HNW individuals say shopping is a key driver to travel, with 85% of respondents saying access to locally made products is a key consideration when deciding where to travel.
• South Koreans are the most likely to stay within their hotel, with 54% of travelers saying they would rather spend time at their hotel or resort than explore local attractions.
• Over 62% of respondents prefer to explore unfamiliar local flavors over food from home.