The richer you are, the more cash you have to spend on travel and tourism, presumably. Keeping up to date with where these high-net-worth individuals live is key for anyone hoping to make money from them.
Luxury Travel News
The Skift New Luxury column is our weekly column focused on the business of selling luxury travel, the people and companies creating and selling experiences, emerging trends, and the changing consumer habits around the sector.
There’s a new generation of mega-wealthy consumers arriving and they don’t all live in the usual places.
Of course, the United States, China, and Germany are home to most high-net-worth individuals, but a new report from Wealth-X highlights some of the countries with the fastest growing high-net-worth populations, which include Nigeria, Egypt, and Bangladesh.
— Patrick Whyte, Europe Editor
5 Looks at Luxury
Where to Find the World’s Biggest Spenders: As luxury brands look to expand their global reach, they would be wise to look into markets where the almost-rich and the rich are getting richer. A new report maps out where wealth is scaling quickly.
Travel Booking Is Finally Coming to Instagram: When Facebook enabled airlines and hotels to build booking functionality into their Facebook pages years ago, it was a total bust. But Instagram and WhatsApp seem to have an engagement level that was missing last time around, making these e-commerce moves appear to be a lot more feasible.
Virtuoso Looks to Help Agencies Get Beyond the Daily Grind: Virtuoso is a you scratch my back and I’ll scratch yours kind of business. The luxury travel network has some good programs to help member agencies, and that increases engagement with Virtuoso. It also provides learnings on how to keep refining the company.
AutoCamp Raises $115 Million for Glamping: AutoCamp has built an outdoor brand on offering bookings for glamping, or camping in amenity-filled recreational vehicles and luxury vans. Given a new $115 million investment, it will expand across the U.S.
Travel Megatrends 2019: Everything Is Converging in Hospitality: This is the year the hospitality industry starts seeing itself the same way its guests do.
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Photo credit: New York City. The city is at the top of the list for high-net-worth individuals. Jörg Schubert / Flickr