The New Luxury Traveler Isn’t Who You Think - Forbes

May 29, 2024 · The New Luxury Traveler Isn’t Who You Think More than a third of $239 billion luxury travel market is driven by non-millionaires. They’re young, they want to explore the world and ...

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The New Luxury Traveler Isn’t Who You Think - Forbes

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What’s Driving Luxury Travelers In 2024, According To McKinsey

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Sep 17, 2024 · According to McKinsey, $8.6 trillion will be spent on travel in 2024, representing roughly 9 percent of this year’s global GDP. And the consulting leader says that demand for …

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Forbes Africa On LinkedIn: The New Luxury Traveler Isn’t Who You …

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#CurrentAffairs The New Luxury Traveler Isn’t Who You Think More than a third of $239 billion luxury travel market is driven by non-millionaires. They’re young, they want to explore the …

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Modern Luxe Traveler: Consumer Segments That Are Changing …

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Apr 2, 2019 · The luxury travel industry is expected to grow at a compound annual growth rate of nearly 7% between 2017 and 2021. Just look at Virtuoso , a bespoke luxury travel agency …

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What Is Luxury Travel In 2023 — And Is It Worth It ... - The Points Guy

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May 16, 2023 · Despite this, the estimated value of the global luxury travel sector is set to double in the next decade, from $1.3 trillion in 2022 to $2.7 trillion in 2032, according to market …

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The New Luxury Traveler Isn’t Who You Think - Forbes Africa

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Jun 1, 2024 · But the report also highlights “a large and expanding base of aspiring luxury travelers” whose net worths are significantly leaner—between $100,000 and $1 million. Last …

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Things To Know About The Future Of Luxury Travel - The Points Guy

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Dec 8, 2022 · By 2025, 61% of luxury consumers will comprise Millennials and Generation Zers, Tom Rowntree, IHG's vice president of global luxury brands, said. That might also explain why …

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A Travel Writer Remembers Arthur Frommer - The New York Times

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2 days ago · In the 1980s, when I planned my first trip to Europe, I can’t remember which Frommer’s travel guidebook I brought along. It might have been “Europe on $25 a Day” or …

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How One Company Is Changing Luxury Travel - Forbes

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Jul 2, 2024 · 66% of surveyed travelers are more interested in travel now than pre-pandemic. 35% of travelers have a net worth between $100,000 and $1 million. The advent of aspiring luxury …

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FAQs about The New Luxury Traveler Isn’t Who You Think - Forbes Coupon?

Who is the luxury traveler?

The luxury traveler—defined by McKinsey as someone who spends at least $500 per night on accommodations—has been around for some time, but the demographics of this segment are shifting on various fronts. Unsurprisingly, about two-thirds of the $239 billion luxury travel market is powered by the affluent class. ...

How is the profile of the global luxury traveler changing?

The study, based on a survey of over 5,000 travelers, shows how the profile of the global luxury traveler is changing. The luxury traveler—defined by McKinsey as someone who spends at least $500 per night on accommodations—has been around for some time, but the demographics of this segment are shifting on various fronts. ...

Is luxury travel only for millionaires?

66% of surveyed travelers are more interested in travel now than pre-pandemic. 35% of travelers have a net worth between $100,000 and $1 million. The advent of aspiring luxury travelers who splurge on select trip components—lodging, special meals, or flight upgrades—debunks the notion that luxury travel is only for millionaires. ...

Who drives the luxury travel market?

More than a third of $239 billion luxury travel market is driven by non-millionaires. They’re young, they want to explore the world and, increasingly, they are neither American nor European. Suzanne Rowan Kelleher writes about travel trends and news. Click to save this article. You'll be asked to sign into your Forbes account. ...

How much is luxury travel worth?

Luxury travel is a $240 billion market, but luxury travelers may be a little different from what you think, according to a McKinsey study. ...

Are younger travelers more interested in luxury travel?

Spending on travel peaks between the ages of 40 and 50, but younger travelers are showing an increasing willingness and ability to spend at luxury levels, per the McKinsey survey. “Aspiring luxury” travelers are typically under 40. Their salaries may not be astronomical. They may not own their own homes. ...