Luxury travelers who want the very best in accommodations and transport make up only 36% of affluent travelers, according to the latest paper from MMGY Global‘s 2017-18 Portrait of American Travelers. Also, luxury travelers spend 62% more on travel than affluent travelers and are significantly more likely to try services like Airbnb.
Portrait is an annual research study of over 2,900 American travelers now in its 27th year.
Not All Affluent Travelers are Luxury Travelers
- Luxury Travelers who believe it’s worth paying more for the very best quality in accommodations and transportation only make up 36% of affluent travelers. During the past 12 months, luxury travelers spent a household average of $10,078 on leisure travel, which equates to 62% more on travel than affluent travelers.
- 31% of luxury travelers plan on taking more vacations during the next 12 months.
Luxury Travelers Value Memories Over Purchases
- Over the past 12 months, 76% of luxury travelers prefer to focus on making memories over acquiring more things, while only 57% of affluent travelers feel the same.
- 42% of luxury travelers say that memories of childhood vacations influence current vacation decisions.
Luxury Travelers Are Open To More Travel Service Provider Options
- While luxury travelers do frequent traditional travel service providers, they’re also significantly more likely than affluent travelers to try sharing economy alternatives.
- 32% of luxury travelers used share economy accommodations during past 12 months.
Social Media & Online Reviews Are Influencing Luxury Behavior
- One third of luxury travelers have selected a vacation destination based at least in part on what they’ve seen on social media, compared to only 7 percent of affluent travelers.
- 51% of luxury travelers like using social media to share travel experiences.