Archive for December, 2011

For The Wealthy, Vacations Remain A Must

Wednesday, December 28th, 2011

Ever wonder how those exotic resorts you see in travel news features and ads manage to stay in business during these uncertain economic times? At $1,000+ a night, who could afford to stay there?

Actually, there are plenty of celebrities and ultra-rich ready to jet off to their next fabulous destination. They not only keep 5-star resorts hopping, but they are helping launch even more exclusive accommodations around the world with ever more lavish amenities.

In fact, the wealthy are more prone to part with their discretionary income when it comes to vacations than nearly any other luxury. According to a recent Affluent Market Tracking Study by the American Affluence Research Center, vacation travel continues to be the strongest spending category among the top 10% of America’s most affluent consumers. As priorities in spending change, one in three affluent households make plans to take a special trip during holiday seasons as a gift for their family.

Among the well-traveled elite, many are jet-setting to Italy – making it the leading destination for luxury retreats. Virtuoso, a leading luxury travel agent group, recently ranked Mexico as their clients’ second most sought after destination after Italy, while International Spa rated Mexico the top destination in the world for spas.

… But rather than sulk about where the other half flies, I am taking note and advising my luxury travel clients to ramp up your marketing efforts to the exclusive group of First Class Travelers identified on the Wealth Window database. Whether off to Florence, Cabo San Lucas, or some other gorgeous location, these high net worth consumers are the perfect target for all luxury travel offers and destinations. By all accounts that I see, the truly prosperous are still taking frequent vacations to exotic destinations.

And yes, I am jealous.

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