NEW REPORT REVEALS CHANGING FACE OF LUXURY TRAVEL IN ASIA PACIFIC

PRNewswire 1-Jul-2024 12:00 AM

The Luxury Group by Marriott International launches extensive research among affluent travelers across six markets

• 68% spending more on leisure travel with 74% respondents planning an intra-regional holiday within Asia-Pacific (APAC)
• Australia is the top destination in next 12 months ahead of Japan, with 46% planning to visit
• Indian HNW are driving luxury travel with 89% Indians planning to spend more in next 12 months
• High-end gastronomy is the primary driver for luxury travel with 88% planning holidays around food
• Three new personas of luxury traveler defined

SINGAPORE, July 1, 2024 /PRNewswire/ -- As the Asia Pacific region continues to be the growth engine for luxury travel, a new comprehensive report from the Luxury Group by Marriott International has identified new expectations and travel preferences among high-net-worth (HNW) travelers in Asia Pacific. Across the region, 68% are planning to spend more on travel over the next 12 months – 89% among Indians - with 74% planning to travel within Asia Pacific and 88% prioritizing gastronomy as the reason to travel. One in four of all holidays planned (25%) are celebrations. Three distinct new groups of luxury traveler have emerged – the 'Venture Travelist' who seeks business opportunities when traveling, 'Experience Connoisseur' Millennials who are traveling for enrichment and 'Timeless Adventurer', over 65s who are building their own itineraries and exploring places before they become popular.

"Our New Luxe Landscapes Report provides deeper behavioral insights and motivations into elite travelers from Asia and the Pacific," says 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."

Deeper Extended Experiences With Their People
The research among HNW travelers in Australia, Singapore, South Korea, Japan, Indonesia and India reveals they are traveling frequently with longer holidays especially across the Asia Pacific region. An average of six leisure trips is planned within the next 12 months while 33% of respondents are planning at least seven holidays this year. On average, a short stay comprises three nights while a long stay is two-and-a-half weeks. For many, the kinship and connection within a group enhances the richness of the travel experience, with over 70% choosing to travel with family or friends.

Australia is the destination of choice (46%), above Japan (42%) and Hong Kong, China (27%). 69% of India's HNW tourists are planning a trip to Australia and it is the top destination of choice for Indonesian, Japanese and Singaporean travelers.

Increasing Demand in India
The most active and engaged travel market, 89% of Indian HNW say they are planning to spend more on travel. Families and friends are touring together to mark key milestones, attend a private function or event, with 38% planning a trip with friends and 33% making theirs a celebratory trip.

A Fascination for Food
88% are picking their holiday destination based on discovering a new food or culinary experience. Acutely aware of dining trends, almost half of the respondents (49%) describe a fine dining experience as an ideal night out. Reinforcing this point, 83% will choose a destination to visit an award-winning restaurant and 35% agreed they would spend more on unique culinary experiences. When choosing a hotel, 81% of HNW travelers make their selection based on fine dining options and 83% choose a destination so they can visit a celebrated restaurant.

New Traveler Personas
With more disposable income for holidays and a growing population of ageing travelers, the research has identified three new categories of affluent travelers. These include:

i) The 'Venture Travelist'
The next-generation Bleisure tourist, the Venture Travelist prioritizes holiday destinations that will generate business opportunities. While they enjoy their vacation with their family and loved ones, they are always on the lookout to secure a deal. Entrepreneurs at heart, they explore a location, shopping for local products and antiques, and looking to forge business connections with members from the local community.

ii) The 'Experience Connoisseur'
Predominantly millennials, Experience Connoisseurs plan their leisure travel as an opportunity for personal enrichment. They travel extensively and see the experience as an investment in their mental and physical wellbeing. They want to deeply explore a destination, they value personalization and actively seek exclusive one-of-a-kind experiences.

iii) The 'Timeless Adventurer'
Debunking every stereotype of the over-65 'silver set travelers', Timeless Adventurers are keen explorers who want to immerse themselves in a destination. They're less interested in tourist attractions and more drawn to what gives the destination a sense of place, what makes it unique and memorable.

The full report is available to download.

Note to Editor
Findings are from a research report commissioned by Marriott International Luxury Group conducted over a period from April 18, 2024, to May 13, 2024, with frequent international travelers who primarily travel for leisure. The study targeted the wealthiest 10% of residents in Australia, Singapore, India, Indonesia, South Korea, and Japan with 200 respondents from each market.

Refer to Annex A for additional data on the preferences of luxury travelers across the APEC region. 

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, and for the latest company news, visit www.marriottnewscenter.com.  In addition, connect with us on Facebook and @MarriottIntl on X and Instagram.

About Marriott International Luxury Portfolio
With an unrivaled portfolio of eight dynamic luxury brands, Marriott International is creating authentic, rare, and enriching experiences sought by today's global luxurian. Spanning all corners of the world, Marriott International's luxury brands group offers a boundless network of more than 510 landmark hotels and resorts in 70 countries and territories through The Ritz-Carlton, Ritz-Carlton Reserve, Bvlgari Hotels & Resorts, St. Regis Hotels & Resorts, EDITION, The Luxury Collection, JW Marriott, and W Hotels. From the world's most iconic destinations to the ultimate undiscovered gems, the international hospitality leader's collection of luxury brands is focused on elevating travel with highly contextualized, nuanced brand experiences that signal the future of luxury by allowing guests to indulge their passions while sparking personal growth.

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.

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SOURCE Marriott International, Inc.