Table of Contents
Issues in the Market
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- Main issues
- Definitions
- Abbreviations
Insights and Opportunities
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- My Space
- The Age of Luxury
- Time to talk and taste
Market In Brief
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- Beam me up, Scottie
- Its all about the experience
- Holiday growth
- Defining luxury
- Multi-generational holidays
Fast Forward Trends
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- Trend 1: Living Better, Longer
- What’s it about?
- What we’ve seen
- What next?
- Trend 2: Bling Bling
- What’s it about?
- What we’ve seen
- What next?
Internal Market Environment
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- Key points
- Overseas expansion
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- Figure 1: Domestic vs overseas holidays, 2003-13
- Holiday history
- Holiday outlook
- The holiday pound
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- Figure 2: Domestic and overseas holidays expenditure, 2003-12
- Holiday past
- Holiday future
- Average spend growth
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- Figure 3: Average spend per trip, 2003-12
- Multiple trip penetration growing
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- Figure 4: Percentage of adults booking UK and overseas holidays, 2003-07
- Luxury presents opportunity for stagnating packages
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- Figure 5: Inclusive holidays versus independent holidays abroad, by volume, 2003-07
- Destinations: long-haul trend
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- Figure 6: Outbound holiday visits, by region visited, 2003-07
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- Figure 7: Top 25 Holiday destinations, by estimated number of visits, 2003-07
- Figure 8: Top 25* holiday destinations, average percentage growth by estimated number of visits, 2003-07
- European action
- Further afield
- The long haul
Broader Market Environment
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- Key points
- …but economy unlikely to cool holidays
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- Figure 9: Trends in personal disposable income and consumer expenditure, 2003-13
- Ageing Britain, without age barriers
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- Figure 10: Trends in the age structure of the UK population, by gender, 2003-13
- Growing aspirational ABs
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- Figure 11: Forecast adult population trends, by socio-economic group, 2003-13
- Key groups on the increase
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- Figure 12: Forecast adult population trends, by socio-economic group, 2003-13
- Lower Internet booking, but potential is strong
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- Figure 13: Internet penetration, by gender, socio-economic group and age, 2003-07
- Holidays remain the priority
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- Figure 14: UK spending priorities for year ahead, January 2005-08
- Exchange rates favour mid and long-haul
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- Figure 15: Annual average exchange rates for Sterling against other currencies, 2003-08
Competitive Context
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- Key points:
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- Figure 16: UK retail sales, by broad sector, 2003-07
- Luxury trips as part of overall market
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- Figure 17: Overall compared with luxury holiday volume, 2003-07
Strengths and Weaknesses in the Market
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- Strengths
- Growing desire for unique experiences
- Immunity to economic downturn
- Favourable exchange rate to new destinations
- Rising wealthy ABC1 population
- Savvy, confident travellers
- Weaknesses
- Economic slowdown
- Rising standards and expectations
- Housing market
- Social stigma
Who’s Innovating?
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- Key points
- Arabian charger
- Reach for the stars
- Unlimited luxury
- Green luxury
- Cruise on up
- Fantasy football
- Upgrading the customer experience
- Luxury support
Market Size and Forecast
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- Key points
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- Figure 18: Luxury breaks taken by UK residents, 1999-2007
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- Figure 19: Number of total holidays and Luxury holidays, by number of trips, 2003-13
- Our market sizes: The methodology
- Holiday spending
- Overseas compared with domestic spend
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- Figure 20: Overseas versus domestic holiday spending in the past 12 months, October 2007
- Factors used in the forecast
Segment Performance
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- Key points
- Lengthy luxury
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- Figure 21: Number of nights spent away on a luxury holiday, 2003-07
- Home, Europe or beyond?
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- Figure 22: UK versus abroad for last luxury holiday, 2003-07
- The top luxury destinations
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- Figure 23: Detailed destination of last luxury holiday, 2003-07
- Short-haul luxury
- Long-haul luxury
- Mode of travel
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- Figure 24: Transport used on last luxury holiday, 2003-07
- Accommodation
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- Figure 25: Accommodation used on last luxury holiday, 2003-07
- Types of luxury holiday
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- Figure 26: Type of luxury holiday taken, 2003-07
- Cruises picking up speed
Market Share
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- Key points
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- Figure 27: Luxury operators’ annual company turnover, 2005-07
Companies and Products
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- Tour operators and travel agents
- Abercrombie & Kent
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- Figure 28: Financial performance of Abercrombie & Kent, 2006/07
- Cox & Kings
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- Figure 29: Financial performance of Cox and Kings, 2006-07
- Exsus Travel
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- Figure 30: Financial performance of Exsus, 2005/06
- Hayes and Jarvis
- Kirker Holidays
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- Figure 31: Financial performance of Kirker Holidays, 2005/06
- Kuoni
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- Figure 32: Financial performance of Kuoni Group, 2004-07
- Sandals
- Thomas Cook
- Thomson
- Airlines
- British Airways
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- Figure 33: Financial performance of British Airways Plc, 2003-07
- Eos Airlines
- MAXjet
- Silverjet
- Cruises
Brand Elements
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- Figure 34: Usage and attitudes of various travel brands, January 2008
- Virgin Atlantic
- What the brand is trying to achieve
- What the consumer thinks
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- Figure 35: Attitudes towards the Virgin Atlantic brand, April 2008
- Emirates
- What the brand is trying to achieve
- What the consumer thinks
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- Figure 36: Attitudes towards the Emirates brand, April 2008
- Four Seasons
- What the brand is trying to achieve
- What the consumer thinks
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- Figure 37: Attitudes towards the Four Seasons brand, April 2008
- Radisson
- What the brand is trying to achieve
- What the consumer thinks
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- Figure 38: Attitudes towards the Radisson brand, April 2008
- Thomson
- What the brand is trying to achieve
- What the consumer thinks
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- Figure 39: Attitudes towards the Thomson brand, April 2008
- Kuoni
- What the brand is trying to achieve
- What the consumer thinks
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- Figure 40: Attitudes towards the Kuoni brand, April 2008
- Experience of luxury travel brands
- Recognised, but rarely used
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- Figure 41: Consumer usage of various travel brands, April 2008
- Intentions of luxury travel brands
- Virgin Atlantic the luxury of choice
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- Figure 42: Consideration of various travel brands, April 2008
- Brand momentum for luxury travel brands
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- Figure 43: Brand momentum of various travel brands, April 2008
- Brand Qualities of luxury brands
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- Figure 44: Personality of various luxury travel brands, April 2008
- Brand attitudes for travel brands
- Virgin Atlantic and Ritz-Carlton are most acclaimed
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- Figure 45: Consumer usage of various luxury travel brands, April 2008
- Brand satisfaction for luxury travel brands
- Kuoni excellence
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- Figure 46: Consumer usage of various travel brands, April 2008
- Brand commitment for luxury travel brands
- Emirates lead on loyalty
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- Figure 47: Consumer usage of various travel brands, April 2008
- Brand motivation
- Culture and activity bring satisfaction
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- Figure 48: Consumer usage of various travel brands, April 2008
- Round up
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Channels to Market
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- Key points
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- Figure 49: Channels to market for luxury holiday bookings, 2003-07
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- Figure 50: Booking method for luxury holidays, 2003-07
- Sources of information used (independent holidays)
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- Figure 51: Sources used to get information on last independent holiday, 2007
The Consumer: Holidays Taken
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- Key points
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- Figure 52: Holidays taken in the past 12 months, February 2008
The Consumer: Defining Luxury
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- Key points
- ‘Luxury’ = warmth + new feelings
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- Figure 53: Important elements on a luxury holiday, by holidays taken, February 2008
- Defining ‘luxury’ by demographics
The Consumer: Experience and Intentions
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- Key points
- Experience and intentions by holidays taken
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- Figure 54: Luxury holiday experience and intention, February 2008
The Consumer: Attitudes Towards Luxury Holidays
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- Key points
- Attitudes by holidays taken
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- Figure 55: Attitudes towards luxury holidays, February 2008
- Bring in the bling brands
The Consumer: Targeting Opportunities
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- Key points
- What potential target groups look for
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- Figure 56: Important elements of a luxury holiday, by experience and intention, February 2008
- Luxury: a slippery concept
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- Figure 57: Important elements of a luxury holiday by further experience and intention, February 2008
Appendix – Market Size and Forecast
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- Expenditure abroad by demographics
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- Figure 58: Total overseas spending in past 12 months, by demographics, October 2007
Appendix – The Consumer: Holidays Taken
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- Figure 59: Holidays taken in the past 12 months, by demographics, February 2008
- Short-haul abroad
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- Figure 60: Short-haul holidays taken abroad in the past 12 months, by demographics, February 2008
- Long-haul abroad
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- Figure 61: Long-haul holidays taken in the past 12 months, by demographics, February 2008
- UK holidays
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- Figure 62: Holidays taken in the UK in the past 12 months, by demographics, February 2008
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Appendix – The Consumer: Defining Luxury
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- Figure 63: Important elements on a luxury holiday, by demographics, February 2008
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- Figure 64: Further important elements on a luxury holiday, by demographics, February 2008
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Appendix – The Consumer: Experience and Intentions
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- Experience and intentions by demographics
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- Figure 65: Luxury holiday experience and intentions, by demographics, February 2008
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- Figure 66: Further luxury holiday experience and intentions, by demographics, February 2008
Appendix – The Consumer: Attitudes Towards Luxury Holidays
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- Figure 67: Most popular attitudes towards luxury holidays, by demographics, February 2008
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- Figure 68: Further attitudes towards luxury holidays, by demographics, February 2008
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Appendix – The Consumer: Targeting Opportunities
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- Figure 69: Important elements of a luxury holiday, by attitudes, February 2008
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- Figure 70: Important elements of a luxury holiday by further attitudes, February 2008
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