CHINA - Reed Travel Exhibition’s Asia Luxury Travel Market (ALTM) and travel trade newspaper TTG Asia has released an inaugural industry trend survey on the luxury travel industry, which found 94 per cent of agents expect an increase in luxury travel in the Asia Pacific region, particularly to China, Thailand, Singapore, Hong Kong and Australia.
Carried out over two months in the first quarter of 2010, the survey found 88 per cent (of who?) expect the Asia Pacific luxury travel market to grow significantly within the next 12 months.
As a result of the findings, ALTM, due for 14 to 17 June 2010 in Shanghai, will be hosting an Ultratravel Forum discussing “Is China/Asia-Pacific set to become the world’s largest market for luxury travel?”
An American survey released by Embassy Suites Hotels, sampling 700 business travellers in the US, has found that 71 per cent said they have changed their business travel habits due to ongoing economic difficulties.
In order to pinch pennies, 29 per cent of those surveyed said they fly only economy, while 27 per cent said they are cutting back on meals and other expenses while attending meetings, conferences and conventions.
Twenty-four per cent said they are now booking hotel rooms that their companies consider a good value, and 17 per cent said they try to share a room with a colleague.
Embassy Suites' VP for marketing, John Lee, said the survey results mirror business trends at the hotel chain: "Over the past 15 months we've seen a softening on the business travel side of the mix, while the leisure traveller contribution, especially on weekends, has remained steady.”
