January 31, 2023
In a boon for the travel industry, a surprising new study shows that the luxury travel demographic is currently six times larger than marketers are targeting. Luxury travelers are traveling more and spending more as demand for high-end experiences continues unabated. However, high earners are not the only ones willing to pay it.
According to a study by The Olinger Group, “Luxury travel marketers typically target people with annual incomes of $250K and above. Our research indicates that travelers with incomes of $100,000 and above are the most likely buyers of luxury travel. They exhibit the same behaviors as higher income earners. And the same attitudes and expectations.”