Asia emerges as luxury travel destination: ALTM and TTG Asia survey

Asia has emerged as a luxury travel powerhouse as consumer confidence is increasing and the spending power of Asian elite is reaching new heights. This finding is based on a survey carried out in a joint collaboration between Asia Luxury Travel Market (ALTM) and TTG Asia over a period of two months in Quarter One of 2010. Through highly targeted regional and global luxury planner and supplier databases, the survey sought to help clarify how businesses may have changed during the fluctuation in economic conditions and how they have bounced back in recent months. This survey was released yesterday at the ongoing ALTM Ultratravel Forum being held in Shanghai, which will conclude on the 17th of this month. 

The survey highlighted preferred destinations, frequency of travel, annual spending, domestic versus international and the buyer/supplier relationship. It also showed the effects of last year on the choices of high net worth individuals (their clients) when planning their leisure time, how the industry might react to potential influences of change, whether