Want some proof that luxury travel is a good career choice? Forbes.com has a great story today on the value of luxury travel, and the title says it all: "The Super-Rich Are Spending US$4 Billion Per Year On Adventure Travel." (We would point out how timely this story is, coming just as Virtuoso Travel Week gets started in Las Vegas, but that would be gilding the lily.)
The article quoted some fascinating stats: "Today, about 20% of private jet travelers take at least one experiential trip every year or so spending an average of US$100,000. Based on a universe of some 200,000 Ultra-High-Net-Worth families (net worth = US$30 million or more) this translates to as much as US$4 billion per year spent cage diving with Great White sharks or whitewater rafting in Colorado. The Adventure Travel Trade Association pegs the total market at about US$90 billion with an average spent of about US$3,000 per person and an audience of 30 million consumers, meaning that even though the very rich account for less than a half of one percent of total travelers, they generate nearly 5% of the revenue." (Read the rest of the story here.)
So what does this mean for the future of high-end adventure travel? Will this spur luxury tour creation at the expense of budget-friendly options? And will operators have to keep upping the ante to keep luxury travelers interested and coming back for more? Sound off below or on our Facebook page!