The Asia Pacific region will account for nearly half of all new high-net-worth individuals between 2025 and 2028 is one of the key takeaways from ILTM Asia Pacific 2025, positioning Australian and New Zealand luxury travel advisors to capitalise on the rise of HNW travellers and ongoing travel trends.
Visa’s Principal Asia-Pacific Economist Dr Simon Baptist shared the research at the ILTM Asia Pacific Opening Forum, which also highlighted the continuing focus on wellbeing and the trend towards face-to-face luxury spend among Australians and New Zealanders.
ILTM Portfolio Director Alison Gilmore confirmed the trend, highlighting its latest research into how the global concept of wellness is shifting to travelling with purpose among HNW travellers with two-thirds (66%) saying travel advisors would be influential to help plan a wellness trip.
Visa’s analysis showed the APAC region will account for 47.5 per cent of all new HNW individuals in the next four years with growth of this segment (20%) significantly outpacing mass affluent (12%) and mass market (1%) segments.
APAC’s population are moving, ageing and getting richer, making the region a global hotspot for luxury growth. Luxury travellers are prioritising relationships and wellbeing, meaningful spending on others and pursuing personal passions and growth.
China and India are leading the region’s recovery with an emphasis on short- and medium-haul trips. In Australia, mid- and long-haul trips are leading growth, while New Zealanders are favouring short- and mid-haul destinations.
Top outbound destinations for Australians are the UK, Japan, Singapore and Indonesia. For New Zealanders, Australia, the US, the UK and Vietnam lead the charge.
Aussie and Kiwi travellers will spend more on accommodation, food and beverage and retail when travelling. Australians will splurge on hotels, while New Zealanders prefer travel agencies.
ILTM Asia Pacific 2025 attracted 740 luxury travel advisors representing HNW travellers from 22 countries across APAC – a 12 per cent increase on last year’s attendance.
ILTM Asia Pacific 2026 will take place in Singapore from 29 June – 2 July.
Find out more at iltm.com
