Amadeus Shaping the Future of Luxury Travel report, prepared in conjunction with Tourism Economics, digs into booking data that shows Asia, North America, and the Middle East will see the biggest growth in luxury travel through 2025.
Overall, the report projects a 6.2 percent growth rate in luxury travel over the next decade, compared to 4.8 percent for travel in general.
While analysis shows the growth of Asia in luxury travel, the report is somewhat skeptical to about continued expansion in China itself.
One thing to note is that China's relatively mature luxury market is set against a backdrop of tightening regulations, where the government is applying pressure to tackle corruption, reads the report. This means that fewer people want to be perceived as ultra-rich and attract scrutiny as illustrated by the nation's declining private jet market. In other words, luxury travelers in China are more conscious about aunting their wealth, and will make travel choices accordingly.
Here are four takeaways from Amadeus analysis of the luxury travel market and its growth through 2025.
Business class bookings are flat in Europe
Slow economic growth seems to have severely affected domestic business class flight bookings in Europe over the last five years. North America and Asia, however, are experiencing strong growth in international business class bookings.
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