And, the segments in which they want to spend that money is
extremely encouraging for us. Forty-two percent of the respondents indicated
that they prefer to divide their discretionary income among durable goods, and
local experiences or travel. This is an important sign of positive consumer
confidence among high-net-worth individuals, and it also extends to holiday
purchases. A reported 80 percent of the affluent said they will spend more or
the same on holiday gifts this year compared to 2013.
Here is a snapshot of other survey insights:
· Respondents (41.8 percent) specified
that the role of a trusted travel advisor in helping plan their next vacation
was either very or somewhat important. The affluent recognize a travel
advisor’s esteemed value and the breadth of expertise, contacts, and knowledge
that they bring to the process of crafting a vacation experience.
· The research also shows that there are
opportunities for travel advisors to continue to elevate their profile and
enhance their business because 31.3 percent of survey respondents cited that
the role of a travel advisor was not very important.
· The family that travels together stays
together! Half of the respondents (51.9 percent) answered “yes” to the question
“Will your next vacation trip revolve around multi-generational or family
travel activities and destinations?”
· According to survey respondents,
nearly half (49.3 percent) last traveled to the Caribbean over two years ago,
and 36.7 percent indicated they have never visited the region. In the last six
months, 4.1 percent vacationed in the Caribbean. These figures exclude cruise
visits.
· Of those who indicated they have
traveled to the Caribbean for vacation, the top five most popular destinations
in the region were the Bahamas (31 percent), U.S. Virgin Islands (24.9
percent), Puerto Rico (20 percent), British Virgin Islands (12.7 percent) and
Cayman Islands (10.9 percent).
· Safety perceptions and security issues
likely played a huge role in these results – more than half of those surveyed
(67 percent) have never visited the Middle East for vacation and do not expect
to travel there.
· High-net-worth consumers are still
exploring this part of the world, though. A total of 23 percent reported having
previously visited the region on holiday. Another 9.2 percent said they haven’t
visited but expect to in to future. Israel
topped the category (at 59.6 percent) as the destination respondents have either
visited or plan to visit. Rounding out the top five countries were Turkey (52
percent), Egypt (38.9 percent), Jordan (17.5 percent) and the United Arab
Emirates (9.8 percent).
The survey was based on questionnaires mailed to a randomly
selected national sample of 4,500 men and women. Following a weighting of the
respondents, the participants in this survey have an average net worth of $3.1
million and an average primary residence value of $1.2 million.
Let’s keep the conversation going!
