Escapism, freedom and style. Kuoni's World Class Report showcases the latest trends in luxury travel
What do luxury consumers really want? Leading luxury tour operator Kuoni, has launched their 2008/2009 World Class Report which highlights the latest holiday styles and destinations. The report also features the outcomes of a national survey into British consumers' views on luxury, 'Insights into Luxury', from their definitions of the term to the differences between genders, ages and income brackets desires.
Here are some of the key highlights from the 'Insights into Luxury' research:
- Luxury is a combination of the tangible and intangible - quality goods or services that leave us with an enhanced frame of mind. It's definitely not just something that costs a lot!
- Freedom is perceived as our biggest luxury - with time coming in at second place. But that emphasis on the importance of time increases with our affluence - the wealthier we are the more we value our free time
- There are pronounced gender differences - and sexual stereotypes do seem to hold true. Women rank time and 'mental space' as greater luxuries than men. Is the work/life balance more difficult to achieve for women than men? When it comes to travel, the survey's findings back up trends observed amongst Kuoni's World Class customer base
- While freedom was the most desired luxury for consumers as a whole, it's the freedom to book what you want, in the way you want that emerges as one of the leading trends for Kuoni travellers. They appreciate the flexibility to book online or by phone, visit agents, have homeworkers visit them or enjoy the style of Kuoni's new flagship store in Kensington
- Service and unique experiences are key to making a luxury holiday truly outstanding. Kuoni's World Class travellers don't just want to buy something off the shelf. They are increasingly taking advantage of the Concierge service and using it to create once in a lifetime experiences as diverse as helicopter transfers or individual tai chi lessons
- As the credit crunch starts to impact on our spending habits, luxury travellers are looking increasingly for value for money - but they're still spending. The 'Insights into Luxury' survey indicated that 53% of us would be curbing our spending on luxuries, but for the affluent travel is still seen as a key use of disposable income and as an antidote to the stresses of every day life
In terms of top destinations for Kuoni's World Class Travellers, Thailand holidays come in at number one, with the Maldives close behind in second place. Both destinations have the boutique hideaway experience as a key strength - offering style, space and privacy, all attributes sought by the wealthier respondents in the 'Insights into Luxury' survey. By way of contrast, Dubai comes in third. This destination features extravagant accommodation, superlative service and a range of experiences from dune driving to amazing shopping.
Other destinations that are performing well are Egypt, Malaysia and the USA - all of which offer rich contrasts and great opportunities for multi-centre holidays. But it's fair to say that the luxury travel market is heavily influenced by new exceptional accommodation options - where great hotels spring up, the affluent traveller follows. This has been particularly observed in the top two destinations, but also Egypt, Sri Lanka and Morocco.
As far as the wedding market is concerned, Sri Lanka is in the top spot as it offers exceptional venues, coupled with great value for money. Thailand shows its strength in this market too, coming in second place for weddings and in third for honeymoons. The USA is also performing well - and Kuoni has added to the range of wedding experiences in New York and Las Vegas. This highlights another trend - the desire for more unusual or unique wedding locations - from ice castles to giant Ferris wheels, Kuoni now features an even wider portfolio of wedding choices.