Asian upscale on the mend

Featuring responses from 386 luxury travel buyers and suppliers, the survey found that respondents are optimistic about 2010 prospects, as the jetset crowd loosens purse strings and give in once more to upscale holidays.

Some 71 per cent of luxury travel buyers have noticed a recovery in their business in recent months, mainly from international clients. The conviction in the market is so strong that 78 per cent of agents are looking to recruit more staff this year.

Luxury travel spend is up, with 45.7 per cent of clients spending US$1,000 to US$5,000 per booking and 35.4 per cent spending more than US$5,000.

Sixty per cent of sellers have also changed their products by upgrading facilities, being more customer-oriented, providing more benefits, adding marketing efforts, introducing packages, renovating and tailoring products to budget-conscious travellers.

(Sources: Singapore, TTGAsia)