Luxury Travel Trends for 2012 | Network Solutions Small Business ...

By Karen Axelton

Do you own a travel-related business? Then Unity Marketing has some good news for you: Affluent travelers are finally ready to spend again, according to the report Luxury Consumers and Their Luxury Travel Plans. Some 40 percent of luxury travelers say they will spend more money on travel this year than in 2011, the study found.

Pam Danziger, author of the report, told Travel Market Report that the 40 percent figure is twice the usual 20 percent. ?That?s really significant,? Danzinger said.

Danziger believes the trend is fueled by two factors. First, affluent customers are releasing their pent-up desires to travel after several years of cutting back in the recession. Second, affluents are placing more value on experiences, rather than possessions, as they decide how to spend their money. ?The majority of luxury consumers say their greatest pleasure and satisfaction from their wealth comes from their experiences,? she told Travel Market Report.

Here are some findings from the study:

Who are they? Specific groups within the affluent market are key to the growth in luxury travel. Specifically, ?ultra-affluents? (consumers earning $200,000 or more) and ?young affluents? (consumers under 45) are planning the most travel. In fact, Danziger says, whatever income sector they?re in, the younger affluent consumers are the most interested in spending on luxury travel.

What do they want? Relaxation and stress relief are travelers? primary goals when planning luxury travel. Other top motivators include spending time with their families and traveling as a ?transformative experience.? Luxury travelers are seeking to create lasting memories.

How do they like to plan? More than ever, luxury travelers are open to planning trips at the last minute. Danziger says while many do still plan major trips a year in advance, others are more willing to grab good opportunities as they arise. Unfortunately for travel agents, however, fewer affluent travelers are consulting travel agents when making plans.

Where do they want to go? There are two extremes here. There?s plenty of interest in staying close to home. In fact, U.S. cities are the most popular destination, followed by Alaska, Hawaii and the Caribbean. However, for those who want to travel beyond these regions, the attitude is ?the farther away, the better.? When it comes to far-flung destinations, Australia and New Zealand are most popular, with Japan and China not far behind.

What do these trends mean to you? Whether you?re promoting travel far afield or close to home, your marketing message should emphasize the issues that matter to luxury travelers. That can include rest and relaxation, time with family, or life-changing experiences. Above all, focus on how travel can create lifetime memories and that, even if you?re promoting a familiar destination, there?s always something new to discover in even the best-known place.

Image by Flickr user BBM Explorer (Creative Commons)

The views expressed here are the author's alone and not those of Network Solutions or its partners.

This entry was posted on Thursday, March 8th, 2012 at 6:00 am and is filed under Business Development, Marketing, Small Business, small business. You can follow any responses to this entry through the RSS 2.0 feed.

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Source: http://www.networksolutions.com/smallbusiness/2012/03/luxury-travel-trends-for-2012/

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