THE luxury travel segment is expected to see more buoyant growth worldwide due to increasing income levels and a greater emerging middle class, according to a report by International Luxury Travel Market (ILTM) in association with Euromonitor.
North America will continue to have the highest number of wealthy households, but Asia-Pacific will see the fastest increase in affluent families with a predicted 113 per cent growth between 2015 to 2030.
The next two fastest growth markets are Australasia and North America with an expected 86 per cent and 80 per cent growth respectively for the same period.
In terms of pure arrival volumes, Asia-Pacific will remain the global powerhouse with China alone predicted to provide over 87 million travellers by 2019.
Look out for Asia luxury market reports in the December issue of TTG Asia Luxury, out soon.
