A new comprehensive report from the Luxury Group by Marriott International, announced at ILTM Asia Pacific, highlights significant shifts in the luxury travel preferences of high-net-worth (HNW) individuals in the Asia Pacific region. One of the most notable findings is that 25% of these affluent travellers express interest in visiting the Middle East. This interest indicates a broad acceptance and curiosity about the region’s offerings. The Middle East, with its rich history, vibrant culture, and luxurious resorts, is increasingly seen as a desirable destination for those seeking unique and opulent travel experiences.
“Our New Luxe Landscapes Report provides deeper behavioral insights and motivations into elite travelers from Asia and the Pacific,” said Oriol Montal, Managing Director, Luxury, Asia Pacific (excluding China), Marriott International. “Whether it’s discovering new culinary experiences, traveling with their family or friends, or looking to forge connections with the local community, our research has identified new traveler archetypes, and provides Marriott International with new understandings in catering to this discerning traveler segment.”
Surge in leisure travel spending
The report reveals that 68% of respondents plan to spend more on leisure travel in the next 12 months, with a strong emphasis on intra-regional holidays within Asia Pacific (APAC). Australia tops the list of destinations, with 46% planning to visit, followed closely by Japan.
Indian high-net-worth travellers leading the way
Indian HNW travellers are at the forefront of this surge in luxury travel, with 89% planning to increase their travel spending over the next year. These travellers are highly engaged and enthusiastic, often planning multiple trips and prioritising unique and celebratory experiences.
Culinary experiences as primary drivers
High-end gastronomy is a key driver for luxury travel, with 88% of respondents planning their holidays around food experiences. This trend highlights the importance of culinary tourism in luxury travel, with travellers seeking out new dining establishments and gourmet adventures.
Emerging luxury traveller personas
The report identifies three new personas of luxury travellers:
- Venture Travelist: This group seeks business opportunities while on holiday, combining leisure travel with professional pursuits.
- Experience Connoisseur: Predominantly millennials, these travellers seek personal enrichment through unique and immersive experiences.
- Timeless Adventurer: Over 65s who plan their own itineraries, exploring destinations before they become mainstream.
Deeper, extended travel experiences
HNW travellers in the Asia Pacific region are planning longer holidays and more frequent trips, with an average of six leisure trips in the next 12 months. Over 70% prefer travelling with family or friends, enhancing the richness of their travel experiences through group connections.
Increasing demand in India
In India, travel and tourism are at an all-time high, with more Indians expected to travel internationally in 2024 than ever before. In the first three months of 2024, 97 million passengers travelled through Indian airports for domestic and international trips, registering 84% growth. The report supports this finding, with 89% of Indian respondents planning to spend more on their leisure travel this year. With an increasing number of HNW individuals in India, tourism operators can target a growing affluent market segment seeking luxury experiences.
Importance of sustainable and innovative travel
Affluent travellers are not only seeking luxury but are also mindful of sustainability. The report notes that 80% of respondents consider a hotel’s sustainability practices when choosing where to stay. This trend reflects a broader shift towards responsible travel, with a preference for eco-friendly accommodations and locally-sourced dining options.
For the love of food
Luxury culinary tourism is the leading driver of travel. As the findings reveal, affluent travellers will choose a destination based on the gastronomy and culinary experiences available. When considering where to travel this year, 88% of respondents ranked the chance to discover new food or gourmet adventures as either “important” or “very important.” High-net-worth individuals are eager to experience new dining establishments, with 82% rating visiting a new restaurant as “important” or “very important.”
Celebratory travel
The number of HNW individuals across Asia continues to grow, with Asia’s global share of HNW individuals predicted to rise to 29% by 2027 (up from 15% in 2004). Groups of multi-generational families and friends are travelling abroad in large numbers to mark milestone birthdays, attend sporting events, religious holidays, and weddings. For many, the kinship and connection within a group enhance the richness of the travel experience. Travelling in a group also promotes a sense of security and peace of mind, with 91% of respondents saying an assurance of safety and protection is important to having a luxury experience.
New traveller personas
With a burgeoning middle class across Asia Pacific, more disposable income for holidays, and a growing population of ageing travellers, new categories of travellers have emerged. Debunking common stereotypes of HNW individuals, the leisure traveller personas identified – the ‘Venture Travelist,’ the ‘Experience Connoisseur,’ and the ‘Timeless Adventurer’ – are all fiercely independent, knowledgeable, and committed to rich and diverse travel experiences.
Gastronomy
Gastronomy has emerged as the key driving factor for high-net-worth (HNW) travellers when choosing a particular leisure destination. Many seek opportunities to discover new culinary experiences, explore local cuisines, or visit award-winning restaurants. In fact, 88% say gastronomy is important when planning their holiday (40% rank it as “very important”).
This trend is particularly prevalent amongst Indian travellers, with 55% rating gastronomy and culinary experiences as “very important.” The “very important” ranking is also shared by 49% of Indonesians and 47% of South Koreans. When choosing a hotel, 81% make their selection based on fine dining options, and 83% choose a destination so they can visit a critically lauded restaurant. Almost half of the respondents (49%) describe a fine dining experience as an ideal night out, while 49% enjoy an evening spent visiting bars, restaurants, and clubs.
Michelin or markets?
42% of affluent South Korean travellers are willing to pay more for a unique culinary or bar experience, while 30% are prepared to spend more to experience a Michelin-starred or award-winning restaurant. Affluent travellers prefer exploring authentic local dishes they are not familiar with over food from home (62% vs 38%). Survey results indicate that most travellers (57%) are eager to venture outside their hotel to immerse themselves in the community and interact with locals. Further to this, 53% of affluent travellers consider exploring a bustling night market – lined with street food and local dishes – as an ideal night out.
Many Asian cultures hold a profound respect and reverence for the natural environment, often connected with their spiritual and religious beliefs
The natural planet
Good news for Saudi Arabia, where ecotourism is at the heart of all new development in the field… escaping an urban environment and connecting with nature is a key factor for many travellers: 84% say being immersed in nature is an important motivator, while a further 76% want to see wildlife. 52% of Indian travellers say a breathtaking location is very important to a luxury experience, and 91% hope to have an encounter with wildlife. Many Asian cultures hold a profound respect and reverence for the natural environment, often connected with their spiritual and religious beliefs.
Health and wellness
Wellness travel continues to be a rapidly growing sector in Asia Pacific, with millennials identified as a key demographic seeking restorative experiences. 86% of travellers aged 26-34 say a wellness retreat is a motivating factor to travel this year, versus 80% of all respondents. This category comprises travellers seeking physical and mental rejuvenation or medical treatment. When searching for a hotel, 80% say a property’s wellness facilities are an important factor in their decision.
Immersive culture and entertainment
Again, a factor that will benefit the Saudi market, is that the HNW individuals surveyed are drawn to exclusive experiences. 72% will travel to attend a high-profile sporting event or concert, while a slightly larger number (77%) are likely to take part in a cultural event. The market driving this trend is India, where 88% of respondents plan their travel around a cultural event, and 87% are incentivised by the chance to attend a high-profile concert or sporting event. Indian travellers are also willing to pay more for VIP access to events, with 36% willing to splurge compared to 25% overall.
The Luxury Group by Marriott International’s report provides valuable insights into the evolving preferences of luxury travellers in the Asia Pacific region. The evident interest in the Middle East, coupled with a focus on unique culinary experiences and sustainable travel, signals new opportunities for destinations like Saudi Arabia. By understanding and catering to these trends, the Kingdom can further establish itself as a premier destination for luxury travellers from around the world.
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