In a boon for the travel industry, a surprising new study shows the luxury travel demographic is six times larger than marketers are currently targeting. Luxury travelers are taking more trips and spending more money as the demand for high-end experiences continues unabated. However, high-income earners aren’t the only ones willing to pay for it.
Research provided by The Olinger Group found “luxury travel marketers typically target people with annual household incomes of $250K and up. Our research indicates that travelers with incomes of $100,000 and up are luxury travel buyers. They exhibit the same behaviors as higher-income earners and have the same attitudes and expectations.