Luxury travel and tourism amid the pandemic

In this study, luxury tourism was defined as all acquisitions of consumer goods, services, and valuables for and during trips by individuals who have a net asset of over one million U.S. dollars. Through a complex analysis taking data on overall tourism and such high net worth individuals into consideration, this DossierPlus gives valuable insight into the luxury tourism industry.

To provide country-specific data as well, the most significant travel destinations per region have been identified. These trending destinations were identified as having the highest total internal tourism revenues in their regions in 2019. Thus, this research provides detailed information on the luxury tourism industry of the United States, China, Germany, India, Mexico, Australia, the United Arab Emirates, South Africa, and Morocco.

This DossierPlus also breaks down luxury tourism by domestic and international inbound tourism and reveals from which countries most international tourists arrive from. The statistics reveal the impact of the corona pandemic on the luxury tourism markets of these countries and the most predominant trends. Mexico’s luxury market is forecast to see the strongest hit in 2020; and China and India’s luxury market are forecast to grow strongly between 2019 and 2023 despite current events, mostly driven by the growth of the domestic luxury market.