MyTravelResearch.com and Luxperience have created a strategic partnership to uncover the latest trends, opportunities and challenges facing the luxury travel industry.
Our Research Team
As specialist travel research and marketing consultants, MyTravelResearch.com has worked on a wide variety of projects around the world from large multi-national airlines, international tourism organisations and destinations through the local regional bed and breakfasts. Your team has a combined research experience of around 70 years!
Project Leader and MyTravelResearch.com Director
Sales Co-ordinator and senior analyst
Project support and MyTravelResearch.com Director
Luxperience and MyTravelResearch.com Partnership
Preliminary findings from the initiative, which will have an Asia Pacific focus, will be presented at the Luxperience Thought Leaders’ Forum that takes place in Sydney, 6 September 2015.
MyTravelResearch.com will carry out original research that will evaluate current industry performance, find out who the luxury buyers are and what motivates them. It will identify current and likely future trends in the lux sector.
“Once we have detailed a broad picture, we will identify gaps and unmet needs in the market,” says MyTravelResearch.com co-founder Carolyn Childs. “We will suggest strategies, actions and products needed to ensure continued growth and customer satisfaction.”
Luxperience, the lux travel trade show that takes place in Sydney in the three days after the Thought Leaders’ Forum, features many high-end travel products and services from Asia Pacific, the region with the fastest growth rate (10%) of high net worth individuals in the world.
The co-branded report will also assess the concept of “value” in luxury travel. For example, is “value” defined by authenticity, a dollar price, insights, feelings, going where other people don’t go, an immersive experience in a local community, or by other factors?
Michelle Papas, the Director of Buyer Relations at Luxperience says that each high end traveller has specific needs that must be met by a travel industry that sometimes suffers a “curious blindness” – for example clinging to phone or in-person communication instead of embracing digital transactions.
Within the lux travel sector, there are many different kinds of travellers, says Childs. These include “hedonists,” “jet setters,” “philanthropists,” “lotus eaters,” and more. Some insist on arranging travel themselves. Some want done for them.
Friends and family influence lux traveller decisions the most, followed by travel agent advice, website reviews, the travel press, and social networks.
In her initial research paper, “Luxury Travel and the Visitor Economy: Key Insights and Trends,” Childs notes that lux travellers are broadening out of the 40-60 age group, are focusing more on experiential travel at the expense of hedonism and display. There is an increasing demand for mindfulness, wellbeing, learning, and philanthropy.
The final MyTravelResearch/Luxperience co-branded luxury travel report is scheduled to be available by December 2015.