Affluent Travel Experiences
As a travel editor, I have had the pleasure of discovering many beautiful destinations, but I still have quite a few more on my bucket list: South Africa, Japan, Greece, Australia, London... One day I'll get to visit these. In the meantime, I'll continue to work with destinations to promote their offerings and build their brand in order to engage travelers.
According to the 2014 Portrait of Affluent Travelers™ by MMGY Global, 20 percent of affluent travelers plan to take more vacations this year, which translates to increased opportunities for travel and hospitality brands to market themselves. The following are the top destinations they want to visit.
Domestic destinations: Hawaiian Neighbor Islands, national parks, Honolulu, New York City, San Francisco, Florida Keys and Napa Valley
Europe: Italy, England and France
The Caribbean: U.S. Virgin Islands, Bahamas, Cayman Islands, St. Maarten and Aruba
Other Top Choices: South America, Mexico, Australia, New Zealand and Fiji
Most of these travelers are inspired to travel because of a friend, relative or other trusted source that they consult, which makes perfect sense. First-hand recommendations and word of mouth is key when planning a vacation so you don't have any unexpected surprises or disappointments.
Below are some additional highlights from MMGY’s findings that travel professionals and journalists alike will find interesting. It appears that affluent travelers are increasingly looking for more personalized experiences — and they are willing to pay more for top quality.
Spending More: Fifty percent of respondents said they are willing to pay more for the very best quality hotel/resort accommodations.
Relaxation and New Experiences Are a Priority: Affluent travelers cite relaxation and enrichment as the most desirable attributes when they travel
More Trips: Travelers who earn $250,000 or more annually took an average of 6.2 leisure trips in 2013, significantly more than the 4.7 vacations taken by those with an annual household income between $125,000 – $249,999. Both groups expect to take more trips in the year ahead: a net nine percent increase for those in households with an annual income in excess of $250,000, and four percent more for individuals in households with an income between $125,000 - $249,999 annually.
Online Ratings/Reviews Matter: More than 30 percent of affluent travelers visited an online community, travel forum or blog during the past 12 months to seek or review information about a destination or travel service provider.
“Affluent travelers are willing to spend more on enhanced travel experiences,” said Steve Cohen, vice president, Insights and Research, MMGY Global. “This translates into a wonderful opportunity for travel and hospitality brands to engage – both online and in real time – with this attractive market segment. And ‘better’ and ‘personalized’ are key words to keep in mind when marketing travel services to this group.”