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The global luxury travel market is huge, not in the number of guests with substantial buying power but the astonishing level of buying power that these luxury travellers have. The good news for hoteliers targeting those top 5% of guests is that they seem to spending more every year. The global Luxury tourism market had an estimated total revenue of USD 1,308.15 billion in 2022, and is projected to be worth USD 3,023.78 billion by 2032.

According to 2022 research by The Olinger Group, “luxury travel marketers typically target people with annual household incomes of $250K and up.” Olinger’s research indicates though that travelers with incomes of $100K and up are also luxury travel buyers.

Travelers with household incomes of more than $250,000 are more likely to both consider themselves luxury travelers and take more, and more expensive, annual vacations.

/PRNewswire/ -- Luxury travelers are taking more trips and spending more money as the demand for luxury travel and experiences continues unabated, according to...