A new report from Arival, The Affluent Experiences Traveler, showed that high-net-worth travellers – with an annual income of US$150,000 or more – are the driving force behind the tours, activities, and attractions market, generating 50% of total traveller spend on day tours, and more than 40% of all spend on activities and attraction tickets.
The report uncovers the unique preferences and behaviours of this high-value traveller segment, which is increasingly placing experiences first in their travel planning and priorities. It highlights how hotels, destinations, airlines and travel agencies, as well as travel experiences companies, must pay close attention to this critical and growing segment of traveller population.
High-net-worth travellers are increasingly placing experiences first in their travel planning and priorities
The report is part of the 2024 US Experiences Traveler study that surveyed travellers across various income levels to understand their behaviours and preferences when it comes to booking and experiencing tours, activities, and attractions.
The report unveiled the following key findings.
Affluent travellers account for a disproportionate share of bookings and spending in the experiences sector. While representing only 21% of all travellers, they are a third of bookings and 46% of total spending on tours and activities.
Young affluent travellers aged 18-44 are especially impactful, spending 50% more on activities than other travellers. Moreover, experiences play a crucial role in destination selection for the majority of affluent travellers across all age groups, with 77% of older affluent travellers and 74% of younger affluent travellers saying that available activities and experiences were a primary reason for choosing their holiday destination.
Affluent travellers are more likely to plan and book experiences in advance – often before booking other elements of their trips. 59% of younger affluent travellers and 27% of older affluent travellers plan and book experiences more than four weeks in advance, compared to 22% of middle-income travellers and 28% of lower-income travellers.
As for flights and accommodation, older affluent travellers (77%) prefer to plan and book these more than four weeks in advance, whereas younger affluent travellers (70%) wait to do this less than a week from the date.
Younger affluent travellers are particularly engaged in the experiences market and account for 67% of bookings and 70% of spending among affluent travellers. Furthermore, sustainability and personal values are key factors in experience selection for affluent travellers. 87% of younger affluent travellers prioritise brands and products that align with their values, compared with 56% in other income groups; 81% of young affluent travellers also say that sustainability influences their experience choices, compared with 44% of other travellers.
The Affluent Experiences Traveler report also highlights the growing importance of social media and online reviews in the decision-making process for affluent travellers. Younger affluent travellers, in particular, rely heavily on platforms like YouTube, Instagram, and TikTok for research and inspiration.
Douglas Quinby, CEO and co-founder of Arival, commented: “Creators and sellers of tours, activities and attractions must have a clear strategy to meet the expectations of an increasingly important affluent traveller, who is accounting for a greater share of overall travel and experiences demand. Every travel organisation – from accommodation and transportation to destinations and travel sellers of all shapes and sizes – must start thinking experiences first. Their most important customers already are.”
A new report from Arival, The Affluent Experiences Traveler, showed that high-net-worth travellers – with an annual income of US$150,000 or more – are the driving force behind the tours, activities, and attractions market, generating 50% of total traveller spend on day tours, and more than 40% of all spend on activities and attraction tickets.
The report uncovers the unique preferences and behaviours of this high-value traveller segment, which is increasingly placing experiences first in their travel planning and priorities. It highlights how hotels, destinations, airlines and travel agencies, as well as travel experiences companies, must pay close attention to this critical and growing segment of traveller population.
The report is part of the 2024 US Experiences Traveler study that surveyed travellers across various income levels to understand their behaviours and preferences when it comes to booking and experiencing tours, activities, and attractions.
The report unveiled the following key findings.
Affluent travellers account for a disproportionate share of bookings and spending in the experiences sector. While representing only 21% of all travellers, they are a third of bookings and 46% of total spending on tours and activities.
Young affluent travellers aged 18-44 are especially impactful, spending 50% more on activities than other travellers. Moreover, experiences play a crucial role in destination selection for the majority of affluent travellers across all age groups, with 77% of older affluent travellers and 74% of younger affluent travellers saying that available activities and experiences were a primary reason for choosing their holiday destination.
Affluent travellers are more likely to plan and book experiences in advance – often before booking other elements of their trips. 59% of younger affluent travellers and 27% of older affluent travellers plan and book experiences more than four weeks in advance, compared to 22% of middle-income travellers and 28% of lower-income travellers.
As for flights and accommodation, older affluent travellers (77%) prefer to plan and book these more than four weeks in advance, whereas younger affluent travellers (70%) wait to do this less than a week from the date.
Younger affluent travellers are particularly engaged in the experiences market and account for 67% of bookings and 70% of spending among affluent travellers. Furthermore, sustainability and personal values are key factors in experience selection for affluent travellers. 87% of younger affluent travellers prioritise brands and products that align with their values, compared with 56% in other income groups; 81% of young affluent travellers also say that sustainability influences their experience choices, compared with 44% of other travellers.
The Affluent Experiences Traveler report also highlights the growing importance of social media and online reviews in the decision-making process for affluent travellers. Younger affluent travellers, in particular, rely heavily on platforms like YouTube, Instagram, and TikTok for research and inspiration.
Douglas Quinby, CEO and co-founder of Arival, commented: “Creators and sellers of tours, activities and attractions must have a clear strategy to meet the expectations of an increasingly important affluent traveller, who is accounting for a greater share of overall travel and experiences demand. Every travel organisation – from accommodation and transportation to destinations and travel sellers of all shapes and sizes – must start thinking experiences first. Their most important customers already are.”