Trending Destinations for remainder of 2014
Press Release by Virtuoso
The Leading luxury travel network that we are part of, Virtuoso, harnessing data
from its worldwide travel agency members, evealed where the affluent
will be venturing for the remainder of 2014, including the crucial holiday time
and winter months.
Announced during the network's annual Virtuoso Travel
Week event which we took part of in August, Virtuoso shared the top destinations for travel overall as well as those
spots that are seeing the fastest growth, while also sharing insight on how and
why consumers are making travel decisions. The results ... a surge
in demand for Down Under, some surprises in Central Europe and the next
evolution in family travel – global citizenship.
Virtuoso Chairman and CEO, Matthew
D. Upchurch, shared insights on the buying habits and motivations of upscale
travelers. He noted that the same consumer is buying travel in two polar
opposite ways: planning upwards of a year in advance for certain trips while
also booking close-in, impulse trips to round out their travels. Several
factors are driving the high demand, most notably the massive rise in tourism
with more than one billion people now crossing international borders as
tourists, the rise in affluence throughout the world and, of course, the 78
million Baby Boomers who are now traveling.
These factors also have led to an
evolution in family and multigenerational travel that Virtuoso has
identified. While the trend line for more than a decade has shown that
consumers want to travel to connect with their love ones, using travel to
supplement traditional education for children is a new philosophy Virtuoso has
termed the "Journey to Global Citizenship." The desire to
connect and build lasting memories as a family still holds true; however,
Upchurch says parents and even grandparents are looking at travel as a means of
giving the next generation a leg up in the world.
"One of the smartest things you
can do, if you have the means, is take your kids to China or India or
Brazil," says Upchurch. "These countries will influence much of
the business being done now and in the future, and kids who have insight into
these cultures, who learn to adapt in unfamiliar surroundings early on, and who
gain an understanding of the world around them, will have a certain advantage
when it's time to enter the workforce."
Upchurch also shared how travelers
are approaching many of these destinations. For the tried and true
places, people are looking to experience them in a new way, visiting lesser
known sites, absorbing more of the local culture, looking for anything not
found in a guide book and, probably most telling, seeking a certain 'feeling'
rather than basing destination choices on what to see and do. His other
observation is that travelers are on a hunt to "collect
countries."
"There is a race towards trying
to get to some of the more pristine places because of the rise in mass tourism
and globalization. The opening up of some of the new, non-traditional
destinations that we've identified, offer even more incentive for travelers to
explore."
Drawing upon its data warehouse of
more than $32 billion in client transactions, then Virtuoso shared that
international (non-U.S. countries) travel is up 21 percent compared to the same
time last year. Travel to Virtuoso's 10 most popular destinations are
averaging an 18 percent uptick:
The Virtuoso "Top 10"
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1.
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Italy (6%)
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6.
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Germany (+
31%)
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2.
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United Kingdom (30%)
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7.
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Mexico (+ 17%)
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3.
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France (23%)
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8.
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South Africa (- 5%)
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4.
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Canada (9%)
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9.
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Netherlands (+ 18%)
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5.
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Spain (20%)
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10.
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Greece (57%)
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Perhaps more enlightening, though,
are the countries seeing the largest year-over-year growth.
Virtuoso's "Hot
List"
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1.
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New Zealand (+ 196%)
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6.
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Croatia (+ 68%)
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2.
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Chile (+ 103%)
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7.
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Australia (+ 58%)
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3.
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Indonesia (+ 103%)
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8.
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Ecuador (+ 57%)
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4.
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Hungary (+ 86%)
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9.
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Greece (+ 57%)
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5.
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Hong Kong (+ 72%)
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10.
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Norway (+ 54%)
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The group also revealed that Central
Europe is experiencing a surge: Hungary (86%), Croatia (68%), Austria
(48%), Poland (48%), and Czech Republic (23%). Russia, however, has seen
a sharp decline, down 69%. Overall, travel to European countries is up by
23%.
Virtuoso also provided a glimpse at
the network's typical client, sharing that the median age is 56 years (53% are
age 35-64) and 70% are married or partnered. They are affluent with
$200,000 median household income and a net worth of $1.75 million. And,
they are well-traveled with 95% owning a passport and 47% prepared to take 4-7
or even more trips this year.