A preview of the latest ILTM ‘Buzz or Reality’ research, entitled ‘Decoding the Luxury Traveller Mindset: Spotlight China’ is to be revealed at ILTM Asia Pacific 2023, held 19 – 22 June in Singapore.
In this new China-focused report, ILTM has again partnered with Altiant, to bring a unique and comprehensive
representation of what luxury travel now means to affluent and High Net Worth Chinese individuals.
Altiant is a fieldwork entity specialised in quantitative market research and operating exclusively in luxury and wealth management industries. Below, Meryam Schneider, SVP at Altiant sets the scene:
- ILTM’s new report looks at a hot topic: the travel behaviours of wealthy Chinese travellers. There have been many other studies on Chinese travel intentions, so what makes this latest study stand out from the rest?
The granularity and actionable insights: Although the topics of revenge travel and resuming international travel has been portrayed publicly, this report has much more granularity and dives right into the push and pull factors. Quantifying the findings creates genuine, actionable insights for professionals in the luxury travel industry.
For instance, we learn that there is a strong appetite for living their bucket list and that there is clear push and pull factors such as Health and safety that remains the most influential factor in holiday bookings, but also the retail/food and drink offering (49%) and sustainability credentials (46%). The report also contains a lot of verbatim illustrating the data points. We also have been running this survey for the second year in a row, so we have been able to highlight some critical evolutions in the luxury traveller’s mindset.
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The source: The survey has been exclusively submitted to validated affluent and HNWIs to bring relevant content and help luxury industry professionals understand their target more precisely.
More than two-thirds of the interviewees (69%) were the equivalent of USD millionaires ($1m in investible assets), while almost half (49%) had a household income of $300,000 or more.
