Dr. Friedrich Schwandt, Founder and Managing Director of Statista, emphasized: “The luxury tourism market accounts for 14% of the revenues today already. This makes it a highly competitive growth environment. A key trend that has been shaping luxury tourism in recent years is the increase in multigenerational travel. Families are seeking an opportunity to spend quality time together and strengthen bonds. As Millennials and Generation Z gain economic influence and represent an increasing proportion of luxury travelers, adventure, uniqueness, as well as sustainability also become vital, as they contribute to a high-profile social media image.”
The researchers identified trending destinations based on the highest total internal tourism revenues in their regions. Thus, this study provides detailed information on the luxury tourism industry of these nine countries: the United States, China, Germany, India, Mexico, Australia, the United Arab Emirates, South Africa, and Morocco. The tourism and travel market shown by Statista includes characteristic products, connected products, and other tourism-related services and goods. Luxury travelers in this study have been defined by their assets: They have net assets of over one million U.S. dollars and spend an average of 2,400 U.S. dollars per travel day.
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Source: Anna Friedrich, Statista |