According to the 2016 Asian Travel Consumer Report by Affluential.com, the Asian millenials’ expenditure on international travel is expected to reach US$340 billion by 2020.
The report is based on key findings from the Affluent Insights Luxury Travel Survey, which was conducted in eight Asian markets between April and May 2016. They include China, India, Hong Kong, Singapore, Malaysia, South Korea, Taiwan and Japan.
A total of 2,441 affluent individuals were interviewed, whereby the definition of affluent differed per country (e.g. household income per annum of HK$720,000 in Hong Kong, JPY 10 million+ in Japan and S$110,000+ in Singapore, etc).
- Top destinations planned for the next 12 months include Tokyo, Osaka, Hong Kong, Singapore, Seoul, Paris, Bangkok, Taipei, London and Sydney.
- 7 in 10 affluent Asian travelers plan to travel more luxuriously, especially Indians who want to fly first-class and stay in five-star hotels.
- While China is the leading leisure travel source market, Singaporeans are the most frequent travelers. Tokyo is the top destination for both Chinese and other Asian travelers.
Get the report
Find out more about Asian travelers’ purchase behaviors, consumption patterns and favorite hotel brands in the full 2016 Asian Travel Consumer Report by Affluential.com.
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