The survey focuses on 2014 and reveals that 72% of Latin American agencies cite double-digit growth in their businesses across the year, with 59% also highlighting an average length of trip of between 10 and 20 days. Latin American travellers also take multiple trips a year with 75% booking an average of between 3 and 5 trips annually and 23% spending over $11,000 per trip.
Alison Gilmore, Senior Exhibition Director of the ILTM Portfolio comments:
"There is much speculation about the travel habits of high net worth Latin Americans. It has always been clear that these travellers are high spending, but this dedicated report now reveals many details about not only this market's actual spending powers, but reaffirms trends such as their multigenerational travel habits and growing interest in long-haul and cruise as high end leisure choices."
The report reveals that families increasingly define the demographic of those travelling from the region - 89%. In addition, Thailand features as not only one of the best selling regions for Latin America luxury travellers, but also one of the most popular projected destinations for growth. The US, Europe including the UK, Italy and France and South Africa are also mentioned as ever-popular destinations, but as the market grows, it is expanding east with China, Japan, Vietnam and India as other predicated growth destinations.
Francesco Galli of Aqua Expeditions, which owns and operates the new Aqua Mekong cruise in Cambodia and Vietnam adds: "We are seeing increasing numbers of luxury travellers from South and Central America and it appears these numbers are set to grow. These are people that appreciate bespoke luxury and appreciate being with friends and family - an exclusive, intimate cruise in an experiential destination ticks all the right boxes for Latin Americans."
90 owners and managers of travel agencies from eight different countries -Argentina, Chile, Brazil, Mexico, Puerto Rico, Venezuela, Colombia and Peru -responded to the "Highlighting the Power of Latin American luxury travellers" survey.
Alison Gilmore concludes: "We are particularly delighted to have engaged with and elicited such groundbreaking information from agencies in Colombia, Peru and Chile. We expect "Highlighting the Power of Latin American luxury travellers" to become an important source of information for anyone interested in understanding the travel dynamics of this complex region in future years."
Travelweek Sao Paulo by ILTM, takes place 5 - 8 May 2015 in Sao Paulo and invites luxury travel suppliers from across the globe to meet with luxury travel buyers from predominantly Brazil and across Latin America.
ILTM Americas takes place 28 September - 1 October 2015 in Riviera Maya, Mexico and invites luxury travel suppliers from across the globe to meet with discerning buyers from North America, Canada and Mexico.
To download a copy of the report, please go to: www.iltm.com/latinamerican_report
For more information on accessing the Latin American market at Travelweek Sao Paulo by ILTM contact simon.mayle@reedexpo.co.uk or see www.iltm.com.
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