0 Selected+
City and finance

Hello! You are viewing 1 of your 3 guest articles this week

Join now for free, immediate and unlimited access to our award-winning online content. Find out more...

Join us
Already a member? Log in here


30 Mar 2017

BY April Hutchinson


World’s wealthy opt for 'transformative travel'

The “global elite” are spending much less on luxury goods and more on experiential opportunities, according to a report by concierge company Quintessentially.

Havana Cuba stucco facade

"We see family holidays reshaping, with travel seen as a tool for education"

The organisation, which has offices in 60 countries and includes the Quintessentially Travel division, has noted a 55% increase in the spend by its members on “experiential opportunities in comparison to luxury goods”.

“This is the first time in a while that we’ve seen ultra high-net-worth individuals (UHNWIs) looking to have status outside of the possession of luxury goods,” said Jenny Graham, director, Quintessentially Travel.

At the same time, there has been a 12% increase in requests related to spa, nutrition and wellness and a 20% increase in educational experiences sought, while spending on nightlife has decreased by 20% as clients choose healthier lifestyles.

“The world’s wealthy seem to be focusing on self-reflection and development, including taking more agenda-driven, self-improvement trips,” said Graham. “We’ve seen a stark rise in people seeking out self-development, challenge-style trips instead of hitting the beach for their holidays. If 2016 was the year of experiential travel; 2017 is the one for transformative travel.”

She added that family travel requests were also following the same lines.

“We see family holidays reshaping, with travel seen as a tool for education, in addition to spending quality time together,” she said.

“For example, Japan is becoming very popular for families seeking a holiday with a difference with educational considerations.”

Quintessentially also said travel to destinations that are changing rapidly, or even disappearing – such as Cuba, Antarctica, the Great Barrier Reef, Venice and the Arctic – was popular.

“Travellers are seeking fresh territory, with exploring new destinations serving as the coming year’s top travel motivator,” said Graham. “And no short jaunts for the affluent – international trips of two weeks or longer are topping the list.”

The top destinations for Quintessentially customers in 2016 were Italy, South America, France, Iceland and Australia.

Add New Comment
Please sign in to comment.
Job Search
Previous Searches
Show me more
TTG Media Limited.
Place of registration: England and Wales.
Company number 08723341.
Registered address: New Bridge Street House, 30-34 New Bridge Street, London EC4V 6BJ
Scroll To Top