KUALA LUMPUR, May 20 (Bernama) — Asia Pacific?s luxury travel market will see faster overall growth than Europe?s from 2011 ? 2025, according to a new Amadeus report featuring data from Tourism Economics.

North America and Western Europe lead the world?s luxury travel market1 ? accounting for 64% of global outbound luxury trips despite only making up 18% of the world?s population. However, the Compound Annual Growth Rate (CAGR) in luxury outbound trips for Asia Pacific from 2011 ? 2025, projected at 6.3%, will be higher than Europe (5.3%).  Leading the region are India and China, with a CAGR of 12.8% and 12.2% respectively. India?s projected growth in luxury travel is the highest of the 25 countries explored in this report and presents great potential for luxury travel investment over the coming decade.
The report further finds that growth in luxury travel will outpace overall travel, spurred on by consumers? desire for life experiences. Over the next 10 years, the growth rate in outbound luxury trips is projected at 6.2%, almost a third greater than overall travel (4.8%).

?The Asian luxury travel market is one to watch. It presents a lucrative opportunity for travel players but will not be an easy one to crack. Asian luxury travellers have a unique set of motivations and needs ? truly understanding what drives their travel behaviour will be critical for travel providers looking to tap into that segment,? said Hazem Hussein, Executive Vice President, Airline ...