Amadeus Report: ‘Luxury Travel’ Outpaces the Rest of the Travel Industry

Customers’ want for all times experiences is spurring a development in luxurious journey that’s outpacing the remainder of the journey {industry}, finds a brand new Amadeus report that includes information from Tourism Economics. Amadeus is a world journey expertise supplier.

The report appears to be like at luxurious journey tendencies till 2025 to assist the journey {industry} higher goal and repair its fastest-growing section.

Between 2011 and 2015, luxurious journey, when it comes to outbound flights on enterprise or top notch, noticed a 4.5 p.c compound annual development charge (CAGR), versus 4.2 p.c for total journey. This pattern will proceed to speed up over the subsequent ten years, with luxurious journey journeys projected to develop at a CAGR of 6.2 p.c between 2015 and 2025, nearly a 3rd quicker than total journey at 4.8 p.c.

In response to Amadeus, the pattern is “excellent news” for the luxurious journey sector. The report, Shaping the Way forward for Luxurious Journey, reveals the contemporary challenges and alternatives that the luxurious journey market will face over the subsequent decade.

Amongst key findings of the report is that North America and Western Europe account for 64 p.c of worldwide outbound luxurious journeys, regardless of solely making up 18 p.c of the world’s inhabitants.

Additionally, from 2011-2025, Asia Pacific’s luxurious journey market will see quicker total development than Europe’s, however this development will decelerate from 2015-2025.

The report additionally identifies a hierarchy of luxurious journey wants, starting from 5 star high quality and repair requirements to unique VIP privateness and safety.

 

In 2015, Amadeus launched a report referred to as Future Traveller Tribes 2030, which recognized six traveller tribes based mostly on shopper behaviour, recognizing that buying patterns change relying on the circumstances of every journey.

Utilizing related methodology, Shaping the Way forward for Luxurious Journey, identifies six luxurious traveller tribes to assist journey suppliers higher goal their luxurious buyer market: At all times Luxurious; Particular Event; Bluxury; Money-rich, time-poor; Strictly Opulent; and Impartial Prosperous.

“Understanding your enterprise’s position in delivering an end-to-end luxurious expertise for a traveller is vital to bettering collaboration, and reinforcing an industry-wide push for constant luxurious service”, says Rob Sinclair-Barnes, Strategic Advertising Director at Amadeus IT Group.

“Exploring the newest applied sciences and improvements for making the {industry} work higher as a complete is vital to attaining a brand new stage of luxurious that has by no means existed earlier than”, he added.

The report, Shaping the Way forward for Luxurious Journey, consists of dozens of knowledgeable interviews with world luxurious journey consultants throughout specialist journey concierge companies, airways, hoteliers and middleman suppliers via Connections, a world networking occasion. organiser for luxurious journey suppliers.

To obtain the report, press right here.