Asia cited as biggest luxury market

Asia cited as biggest luxury market

Asia has emerged as a powerful luxury travel market according to a new survey by ALTM (Asia Luxury Travel Market). Research conducted before the conference showed that consumer confidence had increased in the Asia-Pacific markets and spending power had reached ‘new heights’. Luxury travel professionals who took part in the survey said they had seen an increase in business during 2010 and almost all expected an increase in the Asian market. Around 60% had grown or changed their product from last year and 70% plan to reinvest in their product this year. China, Hong Kong, Japan, India, Singapore and Thailand were highlighted as the most significant growth markets. Business increase is expected by 93% of agents in Asia, Western Europe/Mediterranean and Australasia, which were highlighted as the most popular global luxury travel destinations. Factors deemed important included unique offerings, reliability, privacy, price point and security.

Gary Marshall
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Gary Marshall
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