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Our boutique NYC PR firm understands that North America and Europe, historically have been leading the way with consumers interested in luxury travel experiences.  However, marketers need to pay attention to emerging markets such as Brazil, China, and India because these high spenders have the disposable income to indulge in three or four luxury trips per year.

Our research also shows Baby boomers will continue to lead the way with luxury travel experiences.  “About 68 percent of the disposable income in the US is controlled by Baby boomers and this group is estimated to inherit $15 trillion in the next 20 years,” according to an Allied Market Research report.

However, millennials represents the greatest potential for growth in the luxury travel industry. ”Exposure to social media, growing disposable income and easy visa availability are some of the factors which are propelling the growth of the market.  Nowadays, luxury travelers are seeking unique travel experiences, thus opting for the exotic and unexplored destinations,” according to the Consumer Goods Research at AMR.

Abelow PR, an NYC PR firm, often counsels our luxury clients to explore new markets such as reaching millennials, as well as focusing on authentic experience for savvy consumers to truly immerse themselves into the local culture.

So, what is driving the explosion in the luxury travel market?

  • First-time and repeat travelers are looking for endless opportunities to explore the road less traveled and discover new and exotic destinations.
  • Middle and upper middle class incomes have been growing by leaps and bounds creating a demand for the one-of-kind experiences.
  • Social media has been inspiring people to explore new destinations especially on Instagram.
  • Adventure and safari vacations represent 44 percent of the growing luxury travel market and this segment is extremely popular with millennials and Gen X travelers.
  • Millennials are leading the way with the foodie craze. Restaurants around the world are benefiting from this trend.
  • The appetite for one-of-a-kind, hand-crafted items is exploding and is affecting shopping tours around the world.

Abelow PR, an NYC PR firm, understands it is important for hospitality clients to stay abreast of emerging industry trends.  We advise our clients to adapt their program offerings to stand out in the crowd.

We are here to help. Call us at (212) 941-9247.

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