Opportunities in Luxury Tourism: Trends in UHNWI Demographics and Leisure Interests

Luxury tourism has become a fast-growing industry, as an increasing number of UHNWIs are spending wealth on vacations. In the US alone, the wealthiest 5% spend US$3,115 per person per vacation, totalling more than US$390 billion a year, according to the 2016 US Luxury Travel Report by international travel and tourism consultancy Resonance.

At the same time, there is heightened demand for experiences: rest and relaxation are not the only objective of luxury holidays. UHNWIs are increasingly looking to broaden their cultural horizons, get involved in local activities and learn something new or unique.

A boom in luxury travel spending also leads to a surge in high-end hotels and resorts, private jet companies, luxury tour operators and other related concierge services to serve super-wealthy clients. The key question is how to tailor service offerings to match UHNWIs’ leisure and interests on holidays.

This report identifies opportunities in luxury tourism among UHNWIs in North America (the US and Canada), Europe (Germany, the UK, Switzerland, France and Sweden) and Asia-Pacific (Japan, China Singapore, Hong Kong, India) based on trends in UHNWI demographics and leisure interests.

Scope

• A segmentation of UHNWI customers and insight on their requirements from the luxury tourism industry

• Demographic trends for UHNWIs in North America, Europe and Asia Pacific by gender, age group, marital status, family size and wealth band

• Market sizes and forecasts for UHNWIs at regional and country levels

• Key issues and characteristics relating to UHNWIs that will become more important to luxury tourism in the next five years

• Primary research providing insights on each of the key countries in regions featured in the report including: the top five sports by wealth band, the top three sports by age group, the top five interests by wealth band and the top three interests by age group

• Analysis of the needs of UHNWIs in luxury tourism

• Insights on global market opportunities in luxury tourism

• Identification of the key opportunities in the luxury tourism industry

• Intelligence gained from WealthInsight’s proprietary HNWI database comprising over 120,000 individuals globally

Key Highlights

What factors contribute to the significant opportunities in luxury tourism offered by the growing female UHNWI population?

What is the review period CAGR of the female UHNWI population in countries studied in the report? How does this compare with their male counterparts?

Which demographic segment of UHNWIs offers significant opportunities in luxury tourism? What proportion of the overall UHNWI population do they account for in North America, Europe and Asia-Pacific?

What is the preferred interest of UHNWIs which is offering significant opportunities in developing holiday provision?

Reasons to buy

• Investigate the needs of UHNWIs in luxury tourism in North America, Europe and Asia-Pacific and ensure your value proposition is both relevant and targeted to drive revenue growth

• Analyze trends in UHNWI demographics and leisure interests, identify those which offer you the best chance to maximize your competitive advantage

• Identify new opportunities in luxury tourism among UHNWIs to increase your share of the market

• Utilize WealthInsight’s analysis of luxury tourism to make better informed business decisions that will enable you to target UHNWIs more effectively

Companies mentioned

Abercrombie & Kent, Micato Safaris, Resonance Consultancy, Aman Resort, Peninsula Hotels, Ritz Carlton, Four Seasons, Tesla, Shangri-La, Mandarin Oriental, Hyatt, Banyan Tree, Ananda, Absolute Travel, Zicasso, Cox & Kings, Kuoni Group, Scott Dunn, Ker & Downey, Expedia, Tripadvisor.

Table of Contents

Executive Summary

1 Introduction

1.1 What is this Report About?

1.2 Definitions and Scope

2 The Needs of UHNWIs in Luxury Tourism

3 Global Market Opportunities in Luxury Tourism: Trends in UHNW Demographics and Leisure Interests

3.1 North America: The US and Canada

3.1.1 The US

3.1.2 Canada

3.2 Europe: Germany, the UK, Switzerland, France and Sweden

3.2.1 Germany

3.2.2 UK

3.2.3 Switzerland

3.2.4 France

3.2.5 Sweden

3.3 Asia-Pacific: Japan, China, Singapore, Hong Kong and India

3.3.1 China

3.3.2 Singapore

3.3.3 Hong Kong

3.3.4 India

4 Key Opportunities in the Luxury Tourism Industry

5 About WealthInsight

List of Tables

Table 1: HNWI Wealth Band and Group Definitions

Table 2: UHNWI Populations in North America, 2011–2020

Table 3: UHNWI Populations in Europe, 2011–2020

Table 4: UHNWI Populations in Asia-Pacific, 2011–2020

List of Figures

Figure 1: UHNWIs in North America by Gender, 2015

Figure 2: UHNWIs in North America by Age Group, 2015

Figure 3: UHNWIs in North America by Marital Status, 2015

Figure 4: UHNWIs in North America by Family Size, 2015

Figure 5: UHNWIs in North America by Wealth Band, 2015

Figure 6: UHNWIs in the US – Top Five Sports by Wealth Band, 2015

Figure 7: UHNWIs in the US – Top Three Sports by Age Group, 2015

Figure 8: UHNWIs in the US – Top Five Interests by Wealth Band, 2015

Figure 9: UHNWIs in the US – Top Three Interests by Age Group, 2015

Figure 10: UHNWIs in Canada – Top Five Sports by Wealth Band, 2015

Figure 11: UHNWIs in Canada – Top Three Sports by Age Group, 2015

Figure 12: UHNWIs in Canada – Top Five Interests by Wealth Band, 2015

Figure 13: UHNWIs in Canada – Top Three Interests by Age Group, 2015

Figure 14: UHNWIs in Europe by Gender, 2015

Figure 15: UHNWIs in Europe by Age Group, 2015

Figure 16: UHNWIs in Europe by Marital Status, 2015

Figure 17: UHNWIs in Europe by Family Size, 2015

Figure 18: UHNWIs in Europe by Wealth Band, 2015

Figure 19: UHNWIs in Germany – Top Five Sports by Wealth Band, 2015

Figure 20: UHNWIs in Germany – Top Three Sports by Age Group, 2015

Figure 21: UHNWIs in Germany – Top Five Interests by Wealth Band, 2015

Figure 22: UHNWIs in Germany – Top Three Interests by Age Group, 2015

Figure 23: UHNWIs in the UK – Top Five Sports by Wealth Band, 2015

Figure 24: UHNWIs in the UK – Top Three Sports by Age Group, 2015

Figure 25: UHNWIs in the UK – Top Five Interests by Wealth Band, 2015

Figure 26: UHNWIs in the UK – Top Three Interests by Age Group, 2015

Figure 27: UHNWIs in Switzerland – Top Five Sports by Wealth Band, 2015

Figure 28: UHNWIs in Switzerland – Top Three Sports by Age Group, 2015

Figure 29: UHNWIs in Switzerland – Top Five Interests by Wealth Band, 2015

Figure 30: UHNWIs in Switzerland – Top Three Interests by Age Group, 2015

Figure 31: UHNWIs in France – Top Five Sports by Wealth Band, 2015

Figure 32: UHNWIs in France – Top Three Sports by Age Group, 2015

Figure 33: UHNWIs in France – Top Five Interests by Wealth Band, 2015

Figure 34: UHNWIs in France – Top Three Interests by Age Group, 2015

Figure 35: UHNWIs in Sweden – Top Five Sports by Wealth Band, 2015

Figure 36: UHNWIs in Sweden – Top Three Sports by Age Group, 2015

Figure 37: UHNWIs in Sweden – Top Five Interests by Wealth Band, 2015

Figure 38: UHNWIs in Sweden – Top Three Interests by Age Group, 2015

Figure 39: UHNWIs in Asia-Pacific by Gender, 2015

Figure 40: UHNWIs in Asia-Pacific by Age Group, 2015

Figure 41: UHNWIs in Asia-Pacific by Marital Status, 2015

Figure 42: UHNWIs in Asia-Pacific by Family Size, 2015

Figure 43: UHNWIs in Asia-Pacific by Wealth Band, 2015

Figure 44: UHNWIs in China – Top Five Sports by Wealth Band, 2015

Figure 45: UHNWIs in China – Top Three Sports by Age Group, 2015

Figure 46: UHNWIs in China – Top Five Interests by Wealth Band, 2015

Figure 47: UHNWIs in China – Top Three Interests by Age Group, 2015

Figure 48: UHNWIs in Singapore – Top Five Sports by Wealth Band, 2015

Figure 49: UHNWIs in Singapore – Top Three Sports by Age Group, 2015

Figure 50: UHNWIs in Singapore – Top Five Interests by Wealth Band, 2015

Figure 51: UHNWIs in Singapore – Top Three Interests by Age Group, 2015

Figure 52: UHNWIs in Hong Kong – Top Five Sports by Wealth Band, 2015

Figure 53: UHNWIs in Hong Kong – Top Three Sports by Age Group, 2015

Figure 54: UHNWIs in Hong Kong – Top Five Interests by Wealth Band, 2015

Figure 55: UHNWIs in Hong Kong – Top Three Interests by Age Group, 2015

Figure 56: UHNWIs in India – Top Five Sports by Wealth Band, 2015

Figure 57: UHNWIs in India – Top Three Sports by Age Group, 2015

Figure 58: UHNWIs in India – Top Five Interests by Wealth Band, 2015

Figure 59: UHNWIs in India – Top Three Interests by Age Group, 2015

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