UK Luxury Travel Market Report 2023
£ 2,195 (Excl.Tax)
Description
Stay ahead of the curve and future-proof your business with Mintel’s UK Luxury Travel Market Report 2023. Our full report is packed with consumer-led market intelligence, the latest luxury travel market research, trends and consumer behaviours affecting your business. Get a 360° view of the UK luxury travel market including market size, share and forecasted growth to help you align your business strategy with the needs of your audience.
Below, we’ve handpicked the key insights analysed in the full report and summarised the core topics.
Topics Analysed in this Report
- How the cost of living crisis continues to impact the UK luxury travel market.
- Launch activity and innovation in the UK luxury travel market.
- Destinations and holiday types being considered by luxury holidaymakers.
- Preferences for products and services within the UK luxury market.
- Important factors for luxury holidaymakers.
- Behavioural similarities and differences between luxury and non-luxury holidaymakers.
UK Luxury Travel Market Outlook
The UK luxury travel market has remained resilient in the face of the cost of living crisis, with the sector attracting more affluent consumers, as well as those seeking to make up for once-in-a-lifetime holidays that they missed out on during the pandemic.
- Luxury travel market size: 67% of luxury travellers who are planning to take a holiday in the three years are likely to visit a long-haul destination.
Luxury Travel Market Trends UK
Destinations for families with young children
Travelling with young children tends to require a greater level of planning and coordination, and it is important that brands offer family-friendly options for parents of children of all ages. Families with young children are also more likely to prioritise convenience, and are willing to upgrade to such options to ensure a smoother travel journey and holiday experience.
- Luxury trend: 39% of parents with children under 18 say recommendations from friends or family would encourage them to choose one destination over another
Rise in gastro tourism
A growing number of luxury travellers are being drawn to destinations based on their culinary delights. To capture this attention, luxury holiday brands will do well to bring together itineraries that focus on showcasing local food and drink.
- Luxury travel market trends: 63% of luxury travellers say high-quality food and drink would encourage them to choose one holiday destination over another.
Purchase our UK Luxury Travel Market Report to receive a five-year forecast, consumer behaviour analysis, and recommendations for market opportunities. Readers of this report may also be interested in our UK Hotels Market Report 2023, or our range of Travel Market Research.
Companies Featured in the Full Report
NEOM, Audley Travel, InterContinental Hotels & Resorts, Luxury Escapes, Simpson Travel, Kuoni, Audley Travel, Royal Caribbean.
Additional Features Included with Your Purchase
- Interactive Databook: Each Databook is provided as an interactive website where you can deep dive into our consumer research data on your chosen topic so you can draw your own conclusions.
- Consumer Confidence Tracker: Our Trackers paint the picture of the economic confidence and major concerns of up to 40 different demographics, tracking changes in attitudes over time.
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Expert Insights from a Travel and Leisure Analyst
This report, written by Jennie Bryans, a leading research analyst, delivers in-depth commentary and analysis to highlight trends in the UK luxury travel market and add expert context to the numbers.
Luxury travellers are demanding more experiential holidays that offer a sense of adventure and uniqueness, rather than the ‘flashy’ stereotypes of eras gone by.
Jennie Bryans
Travel & Leisure Analyst
Table of Contents
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- Key issues covered in this Report
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Executive Summary
- Opportunities for the luxury holiday market
- Market dynamics and outlook
- Graph 1: spending priorities if financial situation significantly improved, 2023
- Graph 2: holiday bookings in the last three months, 2019-23
- What consumers want and why
- Graph 3: luxury traveller segments, 2023
- Graph 4: most considered holiday destinations for the most expensive holiday planned in the next three years, 2023
- Graph 5: luxury holiday behaviours, 2023
- Innovation and marketing
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Market Dynamics
- Macro-economic factors
- Graph 6: the financial wellbeing index, 2016-23
- Graph 7: the financial confidence index, 2016-23
- Graph 8: spending priorities if financial situation significantly improved, 2023
- Social, environmental and legal factors
- Graph 9: annual average sterling exchange rate to euro, 2013-23
- Holiday bookings and booking intentions
- Graph 10: holiday bookings in the last three months, 2019 – 2023
- Graph 11: plans to book a holiday in the next three months, 2019-23
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What Consumers Want and Why
- Introduction to the luxury consumer
- Graph 12: luxury traveller segments, 2023
- Graph 13: spending on the most expensive holiday in the next three years, 2021 vs 2022 vs 2023
- Holiday destinations
- Graph 14: most considered holiday destinations for the most expensive holiday planned in the next three years, 2023
- Graph 15: most considered long-haul holiday destinations for the most expensive holiday planned in the next three years, 2023
- Holiday types
- Graph 16: most considered holiday types for the most expensive holiday planned in the next three years, 2023
- Products and services within luxury holidays
- Graph 17: products and services within luxury holidays, 2023
- Important factors for luxury holidays
- Graph 18: important factors for luxury holidays, 2023
- Luxury holiday behaviours
- Graph 19: luxury holiday behaviours, 2023
- Graph 20: being willing to pay more to travel sustainably, by age, 2023
- Luxury traveller breakdowns
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Innovation And Marketing Trends
- Launch activity and innovation
- Advertising and marketing activity
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Appendix
- Defining the luxury traveller
- Graph 21: amount planning to spend on the most expensive holiday in the next three years, 2023
- Graph 22: duration of the most expensive holiday planned in the next three years, 2023
- Graph 23: products and services consumers would consider when taking their most expensive holiday in the next three years, 2023
- Abbreviations and methodology
- Methodology
About the report
This market report provides in-depth analysis and insight supported by a range of data. At the same time, introductory and top-level content is provided to give you an overview of the issues covered.
Market
Mintel provides a range of market information, frequently through the category level, including market size and forecasting, complete with market drivers that illustrate the forces that shape a category or market.
Consumer
Mintel’s proprietary consumer research provides our analysts with the attitudinal and behavioral data used to provide valuable insight to topical issues.
Brand/Company
Mintel provides overviews of the top brands and manufacturers, and uses consumer research to explore attitudes and reactions to brands, as well as insight into what will resonate with consumers.
Data
Market reports provide appendices of data to support the research and insight produced. Our databooks* are easily manipulated and downloadable to support your research needs and covers factors from consumer attitudes to market forecasts.
*databooks not available with UK B2B Industry reports.
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