Kensington Tours has released the results of its Luxury Travelers Survey (conducted with Opinium Research), which examined the behaviors of 400 adults from households earning over $250,000, who have taken luxury trips worth at least $10,000 in the past five years.
Among the most noteworthy findings: 68% of luxury travelers are willing to pay a premium to skip lines, avoid crowds and take private tours, indicating a desire for seamless travel experiences. Respondents also feel their vacations would be enhanced by having access to exclusive events (74%) and other insider experiences not generally available to the public (72%).
What’s more, 66% of luxury travelers indicate that they would splurge on personalized, bespoke trips that are tailored to their interests and preferences, while 62% would pay a premium for one-stop planning.
Fast Facts: More Findings From the Survey
- Two-thirds (66%) of luxury travelers report feeling frustrated by waiting in long lines while traveling.
- Thirty-eight percent of respondents say they take three to five trips each year, 28% take six to 10 trips and 14% go on more than 10 trips. Most (57%) of these travels average two weeks or more.
- Multigenerational travel continues to thrive among this demographic, with 82% intending to increase their family travel this year.
- Among those surveyed, a significant 89% plan to visit new destinations in 2024. Top choices include Switzerland, Norway and Portugal.
- The biggest travel pain points for respondents include finding appropriate accommodations (41%), avoiding tourist traps (38%) and coordinating activities (38%).
- Reflecting a desire for more space, privacy and exclusivity, more than 50% of affluent travelers expressed interest in experiences such as luxurious villa stays with in-house amenities and private yacht expeditions.
- Overall, respondents feel their travel experience would be somewhat or greatly enhanced with offerings provided by a luxury tour operator, including access to popular attractions with no wait time (81%), privately guided tours without crowds (78%) and more exclusive perks.
Our Analysis: Now Is the Time for Advisors to Gain New and Referred Luxury Clients
Delivering a seamless, personalized travel experience and insider access are areas where travel advisors excel. And, as the post-pandemic tourism boom continues to crowd popular destinations (especially in Europe), luxury travelers are likely to value these services more and more — as well as continue to pay extra for them.
The good news is that 72% of survey participants already recognize the need for an advisor, intending to enlist their services for upcoming travel planning. For those that are not yet on the agent bandwagon, now is the ideal time for advisors to market their services and seek referrals.
What They Are Saying: Traveler Behaviors Match Survey Results
“The outcomes of our recent survey confirm the trends we've observed among our clients, who value an effortless experience, unique insider opportunities, elite lodging and tailor-made journey arrangements," said Helen Giontsis, president of Kensington Tours. "With these preferences in mind and proactively meeting and exceeding our clients' expectations, we are committed to continually developing unique offerings tailored exclusively for the luxury travel sector."
