From experience, we know that luxury travelers are a unique bunch. They’re discerning, they have high expectations, and they’re not afraid to spend money to get what they want. But what motivates them? What drives them to choose one luxury travel experience over another?
We went straight to the source to find out. We asked some of the world’s top luxury travel experts—those who plan and book high-end trips for a living—to weigh in. Here’s what they had to say.
What Motivates Luxury Travelers?
One of the most common misconceptions about luxury travelers is that they’re motivated solely by price. Yes, price is important, but it’s not the be-all, end-all. In fact, many luxury travelers are willing to pay more for an exceptional experience that meets their specific needs and requirements.
“Luxury travelers are looking for experiences that are authentic, unique, and personal,” says Katie Dillon, editor of La Jolla Mom. “They’re not interested in cookie-cutter vacations or one-size-fits-all solutions. They want something that is tailored specifically for them.”
This sentiment was echoed by Susan Breslow Sardone, author of Romantic Weekends in New York City. “Luxury travelers want the best of everything,” she says. “They don’t want to waste their time or money on anything less than perfection.”
What Sets Luxury Travelers Apart?
So what sets luxury travelers apart from other types of travelers? For starters, they tend to be more well-educated and have higher incomes. They’re also more likely to be employed in professional or managerial positions. And although some luxury travelers are retired, a significant portion are still in their prime earning years (Millennials and GenX).
Luxury travelers also tend to be more experienced than other types of travelers. They’ve been around the world and back again and know exactly what they want—and don’t want—in a travel experience. This is why they’re often willing to pay more for something that delivers on their expectations.
Finally, luxury travelers tend to be early adopters when it comes to new trends and technologies. They’re always on the lookout for new ways to improve their travel experiences—and they’re usually the first ones to try them out.
To wrap it up:
Luxury Travelers Are Worth Pursuing! But you need to understand them.
Luxury travelers are a valuable target market for any business in the luxury travel industry. From accommodations to luxury travel experiences, know your audience. They tend to be well-educated and have high incomes. They’re also more likely than other types of travelers to be employed in professional or managerial positions. Plus, they’re always on the lookout for new trends and technologies—and they’re usually the first ones to try them out. All of this makes them an attractive target market for businesses in the travel industry—if you can deliver on their expectations, that is.