As the Asia Pacific region cements its role as a powerhouse for luxury travel, a new report by the Luxury Group of Marriott International sheds light on evolving expectations and preferences among high-net-worth (HNW) travelers. According to the report, 68% of HNW travelers in the region plan to increase their travel spending over the next 12 months, with a striking 89% of Indian HNW individuals leading this trend. Additionally, 74% plan to travel within Asia Pacific, and 88% prioritize gastronomy as their primary travel motivation. Notably, 25% of planned holidays are for celebrations.
Emerging Luxury Traveler Archetypes
The report identifies three distinct new groups of luxury travelers:
Venture Travelist: These travelers seek business opportunities during their trips.
Experience Connoisseur Millennials: This group travels for personal enrichment and unique experiences.
Timeless Adventurer: Individuals over 65 who craft their own itineraries and explore destinations before they become mainstream.
Insights from the New Luxe Landscapes Report
Oriol Montal, Managing Director, Luxury, Asia Pacific (excluding China) at Marriott International, comments on the findings: “Our New Luxe Landscapes Report provides deeper behavioral insights and motivations of elite travelers in Asia and the Pacific. Whether discovering new culinary experiences, traveling with family or friends, or forging connections with the local community, our research has identified new traveler archetypes. This provides Marriott International with new understandings to better cater to this discerning traveler segment.”
Extended Travel Experiences
HNW travelers from Australia, Singapore, South Korea, Japan, Indonesia, and India are opting for more frequent and extended holidays, particularly within the Asia Pacific region. On average, these travelers plan six leisure trips in the next year, with 33% planning at least seven holidays. Short stays average three nights, while long stays extend to two-and-a-half weeks. Over 70% prefer traveling with family or friends, enhancing the richness of their travel experiences.
Top Travel Destinations
Australia tops the list of preferred destinations, with 46% of respondents choosing it, followed by Japan (42%) and Hong Kong (27%). Notably, 69% of India’s HNW tourists plan a trip to Australia, making it the top choice for Indonesian, Japanese, and Singaporean travelers as well.
Growing Demand in India
India stands out as the most active and engaged travel market, with 89% of Indian HNW individuals planning to increase their travel spending. Indian families and friends often tour together to celebrate milestones, attend private functions, or events, with 38% planning trips with friends and 33% making celebratory trips.
The comprehensive insights from Marriott International’s Luxury Group highlight the dynamic and evolving landscape of luxury travel in Asia Pacific, providing valuable guidance for catering to the region’s sophisticated travelers.