Boom in luxury travel records

Published on : Saturday, November 25, 2017

BoomWith the upward trend in travel as the number of foreign tourists of the first half of 2017 puts at 598 million, 5 percent increase, latest report by ITB Berlin and IPK International has depicted that luxury travel is on the rise with America and China travelers beating others while Germany and France in Europe are the two most well-liked luxury destinations in the world. As per the report, an increasing number of vacationers are spending high on the best weeks of the year.

 

With a growth of approximately 18 percent ever since 2014, luxury travel has increased almost twice like the international travel in general, which increased by 9 percent since 2014.

 

For this investigation, foreign luxury trips were outlined as outbound short trips of three nights of maximum with spending over 750 euros per night along with four nights of outbound long trips and of over 500 euros per night. Last year, the world population covered almost 54 million international luxury trips. In 2016, the market share of these trips increased to about 7 percent.

 

USA with 13.7 million foreign luxury trips and China with 10 million are the largest source markets for luxury travel. Other major source markets are Japan, Great Britain and Taiwan.

 

British undertook most luxury trips in Europe with 3.6 million trips, followed by French and the Germans. On the other hand, the USA was the most popular luxury travel destination with 8.1 million trips, ahead of Canada and Germany so far. In Europe, Germany welcomed around 4 million luxury travel visitors last year and hence restored Italy as the number one luxury travel destination in Europe in comparison to 2014, followed by France, Italy and Great Britain.

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