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Research

Demand for luxury travel and hospitality on the rise: study

November 11, 2010

 

By Kaitlyn Bonneville

Affluent consumers value luxury experiences above products and services

Well-heeled consumers consider leisure experiences more valuable than luxury goods or services in today’s economy, an executive at Luxury Institute said.

Affluent households with an average annual income of $332,000 and a net worth of $3.3 million were surveyed by the Luxury Institute. The study showed that consumers prefer leisure activities such as vacations, extended time off from work, working from home and vacation homes to other luxuries.

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