Super wealthy travellers insist on value for money – poll

The majority of the most affluent travellers are demanding value for money amid the credit crunch, a new survey shows.

The ultimate in luxury is not desirable at any price, as 91% of those surveyed said that value for money and getting the best price possible was of the utmost importance in booking a break.

The poll of 278 American Express Centurion card holders also found that eco-tourism is also high on the priority lists of the super-wealthy, with 42% seeking holidays with a minimal carbon footprint.

The rich are also seeking exclusivity in their choice of holiday location – two thirds (66%) seek destinations that are entirely private and secluded to take them away from the crowds, while 72% are demanding bespoke, personalised experiences, catering exclusively for their needs.

Gaining new talents and a sense of individual achievement are also among the most desirable holiday experiences sought by wealthy tourists.

Three quarters (76%) are now opting to master meditation techniques in Malaysia, wine tasting in the Loire or line fishing in Loch Lomond ahead of purely sedentary stays in luxurious surroundings, according to the Luxury Living Index.

Ramón Martín, managing director of American Express UK & Ireland, said: “What’s clear from the findings is that the term ‘luxury’ no longer purely applies to exquisite surroundings – high earning holidaymakers are more likely to look for value for money and seek out exclusive and unique destinations where they can come home with more than just a suntan, but also a new skill under their belts.

“The behaviour of this discreet group of trend-setting, super affluent consumers acts as a barometer to determine what’s fuelling consumer spending habits.

“The Centurion Luxury Living Index helps predict trends that will ultimately trickle down and affect broader consumer purchasing behaviour.”

Guy Salter, deputy chairman of British luxury brands body, Walpole, said: “Despite being very wealthy and being able to buy anything, it is still possible to get a thrill out of seeing new things and visiting new places.

“A big driver in the growth of tailored travel is the need for security and privacy.

“If you want to see things off the beaten track and experience views few get to see, doing this without the crowds is what really makes it a truly luxury experience.

“The continued growth in yachting and private plane businesses, whether chartering, fractional ownership or buying outright, is testament to this overarching desire for exclusive and private experiences.”

by Phil Davies

Related News Stories: