Gone are the day when the luxury traveller was defined by opulence, relaxation and expensive price tags.
A new evolution of the luxury holidaymakers has emerged over recent years that sees the rich searching for something more authentic and exciting.
According to the 2015 Australian Luxury Travel Survey commissioned by qualia and Virtuoso, 22 percent of travellers identify luxury accommodation as those offering ‘authentic, unique experiences’ as the final factor that pushed them to make the final booking.
People aren’t just looking for expensive price tags anymore.
This was followed by a property’s reputation and award-winning history.
Only four percent of respondents said they would book luxury accommodation based on size and design of the property.
“There has been a shift over the years from people spending money on experiences rather then expensive scarves and watches.”
Matthew D. Upchurch, Virtuoso Global Chief Executive and Chairman
Meanwhile, 85 percent of high net worth travellers (HNW) believe luxury travel is defined by a property’s personalised attention to detail, followed by understated elegance, exclusivity and privacy. Location was a key factor in luxury for 59 percent of respondents.
74 percent of HNW travellers believe Australia has become more of a luxury travel destination over the past five years.
And when it comes to finding those properties, one in two said they rely on the power of word of the mouth and secondly inspiration from traditional media outlets such as newspapers and magazines.
Only 41 percent said they use reviews on Tripadvisor and Mr +Mrs Smith to rate the property.
Surprisingly, celebrities have little effect on the HNW, with 58 percent saying they are not influenced by celebrity endorsements.
And how much are these wealthier travellers spending?
Well, their average annual luxury travel is between $10,000 – $30,000.
One in ten allocate $30,000 – $50,000 on travel per year and eight percent revealed they’re prepared to spend $50,000 or more.