Luxury travel still makes up for 27% of European market


A new report finds that while the luxury travel sector in Europe fell by 18% last year, seeing only 5% of travellers categorized in this sector, it still made up a large chunk of the total amount of money spent on travel.

Only 5% of European travellers were considered “luxury travellers”, or those looking to spend more than 2,500 per trip, last year.  Still they spend enough to make up a 27% share of the money spent on travel.

This was one of the key findings in this year’s ITB World Travel Trends Report 2010, alongside the fact that it found wealthy travellers were capable of spending “up to 500 times more” than the average holiday-maker.

“The findings are clear on one thing: despite its decline, the luxury travel market is due to become even more hotly contested,” said Martin Buck, Messe Berlin Director of Travel & Logistics Competence Center.

“The winners will be destinations, airlines and travel operators who are conscious of the exclusive needs of a well-heeled clientele and are capable of tailoring their products accordingly.”

Travellers in this sector of the market are looking for highly personalised and individualised product, says the recent report.
Source = e-Travel Blackboard: W.X
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