Marriott International’s Luxury Group Unveils New Insights on Affluent Travelers in Asia Pacific
(IN SHORT) A recent study by Marriott International’s Luxury Group reveals evolving travel preferences among affluent travelers across six key Asia-Pacific markets. The research indicates that 68% of high-net-worth (HNW) individuals plan to increase their spending on leisure travel in the next year, with 74% opting for intra-regional holidays. Australia tops the list of preferred destinations, followed by Japan. Indian HNW travelers are leading this trend, with 89% planning to spend more on travel. The primary motivation for luxury travel is high-end gastronomy, with 88% of respondents planning their holidays around food experiences. The report also identifies three new luxury traveler personas: the business-focused ‘Venture Travelist’, the enrichment-seeking ‘Experience Connoisseur’, and the exploratory ‘Timeless Adventurer’. These findings highlight the Asia-Pacific region’s role as a burgeoning hub for luxury travel, driven by a growing demand for personalized and culturally immersive experiences.
(PRESS RELEASE) Singapore, 2024-Jul-2 — /Travel PR News/ — A recent study by Marriott International’s Luxury Group delves into the evolving preferences and spending habits of affluent travelers across six key markets in the Asia-Pacific (APAC) region. The research uncovers notable trends and shifts among high-net-worth (HNW) individuals, highlighting a growing emphasis on leisure travel, culinary experiences, and personalized journeys.
Key Findings:
- Increased Leisure Travel Spending: A significant 68% of respondents plan to allocate more funds to leisure travel in the coming year, with an impressive 89% of Indian HNW travelers leading this trend. Additionally, 74% of participants intend to explore destinations within the APAC region.
- Australia as a Top Destination: Australia emerges as the preferred travel destination, with 46% of respondents planning visits, surpassing Japan, which garners 42% interest.
- Gastronomy as a Travel Driver: Culinary experiences are a major motivation for travel, with 88% of respondents planning holidays centered around food. Fine dining experiences and award-winning restaurants play a crucial role in destination selection.
New Traveler Personas: Marriott International’s research identifies three distinct personas among luxury travelers:
- Venture Travelist: These travelers seek business opportunities while on vacation, blending leisure with entrepreneurial pursuits.
- Experience Connoisseur: Predominantly Millennials, this group values personal enrichment and seeks exclusive, one-of-a-kind experiences.
- Timeless Adventurer: Defying stereotypes, these over-65 travelers prioritize immersive experiences and exploration of unique, off-the-beaten-path destinations.
Extended Travel Preferences:
- Frequent and Longer Trips: The study reveals that HNW travelers in Australia, Singapore, South Korea, Japan, Indonesia, and India are planning an average of six leisure trips within the next year. Notably, 33% of respondents plan to embark on at least seven holidays annually.
- Group Travel: Over 70% of participants prefer traveling with family or friends, enhancing the overall travel experience through kinship and connection.
Destination Insights:
- Indian Travelers Leading the Charge: Indian HNW travelers are particularly active, with 89% planning to increase their travel spending. Celebratory trips and tours with friends and family are common, reflecting a desire to mark key milestones and events.
- Gastronomy Focus: A strong 88% of respondents choose destinations based on culinary exploration, with 83% seeking fine dining options and award-winning restaurants.
Emerging Travel Trends:
- Personalization and Sustainability: The research highlights a growing preference for personalized travel experiences and sustainable practices. HNW travelers increasingly consider a hotel’s sustainability initiatives and environmental practices when making travel decisions.
- Immersive and Refined Luxury: Luxury travelers value a sense of security and refined craftsmanship, with 80% defining luxury travel as being surrounded by exquisite design and high-quality materials.
The full report, available for download, provides detailed insights into the changing landscape of luxury travel in the APAC region. It offers valuable data for industry stakeholders aiming to cater to the evolving needs of affluent travelers.
Note to Editors
The findings are based on a study commissioned by Marriott International’s Luxury Group, conducted between April 18, 2024, and May 13, 2024. The research targeted the wealthiest 10% of residents in Australia, Singapore, India, Indonesia, South Korea, and Japan, with 200 respondents from each market.
For additional data on the preferences of luxury travelers across the APAC region, refer to Annex A.
Refer to Annex A for additional data on the preferences of luxury travelers across the APEC region.
ANNEX A: 10 INTRIGUING FACTS ABOUT THE CHANGING FACE OF LUXURY TRAVELERS ACROSS THE APAC REGION
Most engaged travel market is India. 89% of high-net-worth (HNW) Indians are planning to spend more on their leisure travel, looking at six trips over the course of the year, with an average three-four nights for a short trip and two-three weeks for a long holiday.
Most self-sufficient travelers are Singaporeans. 61% prefer to travel independently and curate their own itinerary, versus 43% across the region.
Most pressing social issue is sustainable travel. Mindful of the impact their travel has on the environment, 80% of HNW travelers say a hotel’s sustainability and environmental practices is a consideration when deciding where to stay. 43% want to see hotel restaurants offering locally-sourced food products and a further 35% expect to see effective management of food waste.
Most likely to holiday longer are Australians. With Australians entitled to a minimum of four weeks annual leave, it’s not surprising they take the longest holidays with 73% planning a minimum two-week getaway and 33% taking over three weeks. Similarly, a third of Indonesians expect their trips will extend beyond three weeks.
Most important factor in a luxury experience is a sense of security. Most respondents (91%) say a safe environment is more important than exceptional service (41%), engaging in an exclusive experience (36%) or having a truly personalized experience (33%).
Best reason to shop overseas is to purchase locally made products. For HNW individuals, shopping is a key driver to travel and 85% of respondents say access to locally-made products is a key consideration when deciding where to travel.
Most likely to stay within their hotel are South Korean travelers. 54% of travelers surveyed would rather spend time at their hotel or resort rather than exploring local attractions or engaging with the locals.
Most favored cuisine is authentic local dishes, with over 62% preferring to explore unfamiliar local flavors over food from home.
Top mark of a luxury holiday is discovering a new destination, with 78% regarding it as important or very important.
Most valued luxury experience is an immersive and refined sense of space, with 80% defining luxury travel as being surrounded by refined craftsmanship and exquisite design.
ABOUT MARRIOTT INTERNATIONAL
Marriott International, Inc. (Nasdaq: MAR) is based in Bethesda, Maryland, USA, and encompasses a portfolio of nearly 8,900 properties across more than 30 leading brands in 141 countries and territories. Marriott operates and franchises hotels and licenses vacation ownership resorts all around the world. The company offers Marriott Bonvoy®, its highly awarded travel program. For more information, please visit our website at www.marriott.com. In addition, connect with us on Facebook and @MarriottIntl on X and Instagram.
Media Contact:
Joanna Huang
Director, Luxury PR & Communications
Marriott International
joanna.huang2@marriott.com
Source: Marriott International, Inc.
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