Wednesday, September 23, 2015
Younger travelers an emerging force in luxury spending
Travelers who use agents to book their trips continue to be the biggest spenders, according to Travel Weekly's annual Consumer Trends survey. But the latest report and other recent research show a surprising shift in who it is that's doing the luxury spending.
According to this year's Consumer Trends survey, those who used the services of travel agents in the past 12 months spent, on average, $10,843 a year, compared with $4,939 among those who didn't use an agent. That is about the same as last year.
The big difference is that spending by travelers over age 55, the group that traditionally leads all ages in average travel spend, declined significantly, from $8,430 to $5,840. And the proportion of those age 55 and over who spent less than $1,000 increased from 6% last year to 23% in this year's survey.