Luxury holidays boom

By | Category: Travel news

Britons are the biggest contributors in Europe to the luxury market

Given that retail spending is down and there seems a bit of a malaise around about how Brexit will affect the UK you might be surprised to hear that research shows that luxury travel is booming. And one of the nations where that boom is continuing is the UK.

The source of this claim is the World Travel Monitor®, conducted by IPK International and commissioned by ITB Berlin.  It says that there were 54 million international luxury trips in 2016, up 7% over the previous year.

But what is a luxury trip? For the research it was specified as being where all outbound short trips of up to three nights have a spending of more than 750 euros per night as well as all outbound long trips of four nights and more and a spending of more than 500 euros per night.

The largest source markets for luxury travel are the USA, with 13.7 million foreign luxury trips, and China, with 10 million. Other major source markets are Japan, the UK and Taiwan.

Significantly, in Europe, most luxury trips are undertaken by the British with 3.6 million trips, ahead of the French and the Germans with the most popular luxury travel destination beings the USA, with 8.1 million trips, ahead of Canada and Germany. In Europe, Germany received nearly 4 million luxury travel visitors in 2016 followed by France, Italy and Great Britain.

The most popular types of luxury holidays are city trips at 29% , followed by touring holidays and then beach holidays. Interestingly those taking luxury breaks are much more likely to use a travel agency rather than book online which may suggest that they are time poor. On average, a holidaymaker is only 33% likely to use a travel agency; a holidaymaker on a luxury holiday is 51% more likely – eighteen percentage points higher which is significant.

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