Luxury Holidays - UK - June 2010
- Luxury holidays have accounted for approximately 5% of all breaks since 2008, an increase from the 4% recorded in 2005/06/07 because they were not hit as badly by the recession as the overall holiday market was.
- The recession’s impact was evident in the number of holidays that luxury holidaymakers took across the year rather than in the number of consumers taking a luxury holiday. Year-on-year, this latter figure actually grew by between 7% - 8% in 2009. However the percentage of luxury holidaymaker taking three or more luxury breaks per year fell by 15.1 percentage points in the same period.
- Top-spenders were more likely to travel abroad than stay at home - 1% of people who took holidays in the UK in 2009 spent over £5,001 across the whole year; while 11% of overseas holidaymakers did so.
- Online luxury holiday bookings have grown at the expense of travel agent and telephone use. However the three methods are now almost equally popular, unlike in the wider holidays market where online dominates. Despite losing out in booking terms, the use of travel agents throughout the process has increased - ‘the human touch’ is an important part of the luxury experience for many.
- The key elements of a luxury holiday have remained consistent in the eyes of consumers – good weather, high quality accommodation and fine food. A clear change in attitude is the drop in the percentage that consider travelling in comfort a necessity – down from one-in-two in February 2008 to approximately four-in-ten in December 2009.
- Luxury holiday-makers are most likely to be well-off older adults without dependent children, specifically 45-54 year-olds. Overall, around six in ten people rule themselves out of the market, showing little interest in luxury breaks and being most likely to say these trips are only for the rich. However there are many members of this group that could be targeted by operators – more than one-third of those living in top earning-band households are here, for example, as are over four in ten from the high end AB socio-economic group.
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