Affluent travelers, those with annual incomes of $150,000 or more, are the driving force behind the tours, activities and attractions market, generating 50% of total day trip travel spending and more than 40% of total travel spending. buying tickets for activities and attractions, new research reveals.
According to the findings of the survey, entitled “The Affluent Experiences Traveler”, conducted by travel experience research firm Arival, and presented ahead of its conference, which takes place in San Diego from September 30 to October 3, affluent travelers are increasingly placing experiences at the top of their travel planning and priorities.
The survey, which is part of a larger survey titled “2024 U.S. Experiences Traveler,” urges hotels, destinations, airlines, travel agencies, and travel experience companies to pay close attention to this critical and growing segment of the travel population.
The main points of the research
– Affluent travelers represent a disproportionate share of experience bookings and spending. While they represent only 21% of all travelers, they make one-third of bookings and 46% of total spending on tours and activities.
– Young affluent travelers aged 18-44 have a particular impact, spending 50% more on activities than other travelers.
– Experiences play a key role in destination choice for the majority of affluent travelers – across all age groups. 77% of older affluent travelers and 74% of younger affluent travelers say that the activities and experiences available were a very important or even primary reason for choosing their destination.
– Affluent travelers are more likely to plan and book experiences in advance—often before booking other elements of their trip. 59% of younger affluent travelers and 27% of older affluent travelers plan and book experiences more than four weeks in advance, compared to 22% of middle-income travelers and 28% of lower-income travelers.
– Older affluent travelers still like to plan and book flights and accommodation in advance, while younger travelers put it off until the last minute. About 70% of older affluent travelers plan and book flights and hotels more than four weeks in advance. In contrast, 70% of younger affluent travelers do so in less than a week from the date of travel.
– Younger affluent travelers (ages 18-44) are highly engaged in purchasing experiences, accounting for 67% of bookings and 70% of spending among affluent travelers.
– Sustainability and personal values are key factors in choosing experiences for affluent travelers. 87% of younger affluent travelers prioritize brands and products that align with their values, compared to 56% of other income groups. 81% of young affluent travelers also say that sustainability influences their choice of experiences, compared to 44% of other travelers.
The research also highlights the growing importance of social media and online reviews in the decision-making process for affluent travelers. Younger affluent travelers, in particular, rely heavily on platforms like YouTube, Instagram and TikTok for research and inspiration.
