Thursday 2nd May 2019
To mark the Year of Health and Wellness, the International Luxury Travel Market (ILTM) teamed up with Altiant to bring a unique piece of research solely focused on affluent and HNW individuals’ views on the latest big travel trend.
Covering the US, UK, China and France, this research counts more than 600 interviews from individuals with Investible Assets (IA) median over US$650K and Household Income (HHI) median greater than US$250 . This research gives tangible insights into how this hard-to-reach population view the industry, their expectations and intentions towards this growing market.
The full report is availble, with kind permission of Meryam Schneider of Aliant, on the right, but here are some key findings;
- According to the Global Wellness Institute’s 2017 Global Wellness Economy Monitor, the wellness tourism segment of the global wellness industry is worth $639 billion and is expected to reach $919 billion by 2022
- Despite high overall levels of reported happiness and general health, many affluent/ HNWIs are stressed: only 2/3 of the study sample say they are relaxed. Beside the popular spa and physical treatments, mental wellness is particularly well placed to improve on this measure
- 42% have taken a planned wellness holiday before and are interested in doing so again. A further 40% are interested in trying it for the first time. This provides a potentially large market of 82% of affluent/HNWIs who are interested in wellness holidays
- 28% are willing to pay more than US$3,750 for a 3 night stay, including 13% prepared to pay more than US$5,000. There are clear opportunities to provide wellness holidays which also deliver luxurious and exclusive experiences
As we know we are moving into the 'experience economy' - so it is likely that the trend towards, and demand for, this type of experience will only increase. Interesting reading and some good comparisons across regions.