It seems that those with deeper pockets are the
ones that pay their money the most attention regardless of where
they are.
Affluent travelers want access to internet banking while
on holiday – a requirement less important to the general traveler
according to Visa’s Global Travel Intentions Study 2013.
Affluent travelers apparently do not “switch
off” on holiday. They require constant contact with others with
64% accessing their emails and 45% accessing instant messaging
platforms during their travels.
While still used, activities like
sharing photos and surfing the web for leisure are less important
among the affluent when they travel – dropping to 34% and 31%
respectively.
Predictably, this group also loves their
devices, carrying higher-end gadgets such as DSLR cameras (32%)
and lifestyle devices such as e-book readers (12%) and tablets
(37%) when they travel.
Bolder Destination Choices
While upscale travelers have a particular
destination in mind while planning for their trips, they are
becoming bolder when it comes to exploring unchartered terrains
with eight out of 10 affluent travelers indicating in Visa’s Study
that they will visit new destinations in the future.
They will be trendsetters in growing visitor
numbers to beach destinations in East Africa. When asked which
countries in East Africa they would consider traveling to 44%
chose Mauritius and 40% listed Madagascar – compared to the global
average of 33%.
Considering the affluent take more holidays a
year – an average of four trips a year – despite the propensity to
explore new destinations, modernized cities of the USA, UK and
Australia still top their top holiday destinations for the next
year.
Affluent travelers enjoy independent holidays
and are more willing to pay extra for someone to help arrange a
customized holiday.
“The definition of luxury has evolved, and today
it is more about experiences than about possessions,” said James
Lim, Head of Consumer Products, Asia Pacific, Central Europe,
Middle East and Africa, Visa. “While exclusivity and high quality
service remain essential in reaching out to the affluent, the new
tide of affluent travelers who are bolder in their choices demand
a sense of adventure and personalized experiences to meet their
individual interests. They want to discover places, cultures, and
experiences unknown to others. Understanding their needs, Visa
designs bespoke travel itineraries and exclusive privileges at
luxury hotels and resorts for our premium cardholders.”
Spend More on Travel
Good weather (35%), rich culture (31%) and good
attractions (31%) rate as the affluent traveler’s three most
important reasons for destination choice.
The world’s wealthy also
travel further (35% take long-haul trips compared to the global
average of 29%) and for longer, as they are more likely to spend
at least five to seven nights at their destination.
Spending habits once they reach their
destinations are also evolving, with average spending per trip
expected to jump almost 30% from US$3,465 to US$4,501 for future
trips.
Like most groups, they spend heavily on retail (30%),
dining (25%) and activities (22%), but spend significantly higher
than the global average at medium and large retailers, high-end
restaurants and on entertainment and nightlife.
52% use payment
cards to make these purchases – well above the global average of
40%.
The affluent are also the most likely to holiday
with their families, as 75% travel with relatives compared to the
global average of 69%. In addition, a higher percentage purchase first
and business class flights and book accommodation in luxury hotels
of four stars and above.
Visa
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