A recent study by Resonance Consultancy, unveiled how the wealthiest Americans prefer to book and travel. Maybe the outcome is not much of a surprise, but then again there are some aspects that I would like to share.
For this 2016 U.S. Luxury Travel Report, Resonance Consultancy examined the travel and leisure habits of the wealthiest 1% and 5% of households by conducting an online survey of 1,667 U.S. luxury travelers.
This demographic includes all households with an income of $200k+ or net worth of $2 million+.
The research claims that this small demographic has a startling economic impact: the wealthiest 5% take an average of 14.3 trips per year (about half for business and half for leisure) with an average expenditure of $3,115 per person per vacation.
Very curious is their shift in demand as the report indicates how this market seeks large homes and multi-bedroom villas that facilitate “togethering”. This demand may see an increase as 45% of the top 1% as they are planning vacations with friends, 41% with children and 30% a multi-generational vacation.
Great news for vacation rentals!
Not just that, but amongst their top destinations for 2016 we find Italy and France.
Ok… that is not really much of a surprise!