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Adding further weight to several pieces of research commissioned by ILTM Asia Pacific and presented during its annual event in Singapore this week, the behaviour of the Asian millionaire traveler; their motivations, media channels, brand preferences and consumption patterns were the focus of a seminar presentation to both exhibitors and buyers.
Having interviewed 903 millionaires across China, India, Singapore, Hong Kong, South Korea and Japan, Agility Research & Strategy defined millionaires as those whose HNW was $US1m+.
Key takeaways from the study include:
– 2019 will be another year of strong growth for the luxury travel segment. Particularly encouraging is the willingness to travel manifested by Chinese and Indian millionaires, given the large number of HNW individuals residing in these two countries. Japanese millionaires, on the other hand, remain reluctant to travel internationally, a trend that persists despite a stabilizing economy and increased inbound touristic flow
Reed Travel Exhibitions, organizer of the world’s leading portfolio of incentives, business travel, and meetings industry events, has announced that it is to launch IBTM India which will take place
Reed Travel Exhibitions, organizer of the world’s leading portfolio of incentives, business travel, and meetings industry events, has announced that it is to launch IBTM India which will take place at the Grand Hyatt in Mumbai from September 12-14, 2013.
IBTM India will provide an integrated platform for the MICE and business travel sectors to come together and transact business, share knowledge, and network in the business and financial hub of Mumbai. Scheduled to take place over 2.5 days, this event will provide a tabletop format for exhibitors to meet with Hosted Buyers.
GEORGE TOWN, Malaysia – The first edition of WTM Connect Asia opened today (Wednesday 18 May), taking place in George Town, Penang, Malaysia.
GEORGE TOWN, Malaysia – The first edition of WTM Connect Asia opened today (Wednesday 18 May), taking place in George Town, Penang, Malaysia. The area was declared a UNESCO Heritage Site in 2008 and has proved to be a unique setting for Hosted Buyers and exhibitors to meet, enjoy the local culture and make new business connections.
Buyers and suppliers have been welcomed to Penang from more than 30 countries including China, Malaysia, Mexico, USA, UK, Philippines, Germany, Indonesia and Thailand.
The day began with Hosted Buyers and exhibitors attending FAM Trips organised by Penang Global Tourism. The trips included visiting Penang’s hills and temples, wondering through the beautiful gardens, discovering local gastronomy and walking through the narrow lanes of George Town in search of heritage gems.
At the forefront of luxury travel trends, International Luxury Travel Market (ILTM) Asia Pacific opened in Singapore. To mark the occasion, ILTM released its latest research identifying three consumer archetypes that travel brands should be on the lookout for to capitalize on the escalating wellness and luxury travel sector. According to the latest Global Wellness Institute (GWI) report, wellness tourism is one of the fastest-growing segments in the wellness economy today and Asia Pacific is now the fastest growing market, catapulting its future value to US$252 billion.
Commissioned by ILTM, the report is produced by CatchOn, a Finn Partners company and is available online at view.iltm.com. The study is the result of 50 one-on-one interviews with travelers, luxury tour operators, spa consultants, travel journalists, wellness destination resorts and hospitality brands based in Asia Pacific. The report identifies three consumer archetypes who will be driving the future of wellness tou