Asia Pacific outpacing Europe in luxury travel

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Amadeus has released a report with data from Tourism Economics indicating that Asia Pacific’s luxury travel market growth will outpace Europe’s from 2011 to 2025.

While only making up 18 per cent of the world’s population, the new report details North America and Western Europe’s leading position in the world’s luxury travel market with 64 per cent of global outbound luxury trips. Despite this, the Compund Annual Growth Rate in luxury trips for the Asia Pacific region from 2011 to 2025 is projected at 6.3 per cent, higher than Europe’s at 5.3 per cent.

India and China lead the Asian Pacific region, with India’s projected growth the highest of the the 25 countries examined in the report. Additionally, the report has found that demand for luxury travel will outpace overall travel, with as growth rate of 6.2 per dent over the next 10 years, compared to overall travel projected 4.8 per cent growth.

“Luxury means different things to different people and this is especially true today. As emergent middle classes seek the material aspect of luxury travel, more mature markets are craving a new, evolved kind of luxury,” said Rob Sinclair-Barnes, Strategic Marketing Director at Amadeus IT Group.

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