Global Luxury Travel Registers Strongest Growth of all Travel

The global luxury travel sector has shown the strongest growth amongst all tourism and travel sectors, growing by 48% over a 5-year period according to a special study of the World Travel Monitor conducted by IPK International. In comparison all other travel and tourism grew by 24% during the same time period. Outbound travel forms a huge component of the luxury travel sector. The fastest growing outbound market in 2015 was the Middle East, registering a 9% growth.

Reflecting confidence in the luxury travel sector, Mr. Mikhail Tyurin, Executive Director, Maikhao Dream Hotel & Resorts, said that the “Luxury travel segment is more resilient compared to the mass tourism market and is able to sustain growth while other segments stall.’’ Maikhao Dream Hotel & Resorts is a sponsor and participant at the 4thannual MICE Arabia Congress.

Aptly, at the upcoming 4thannual MICE Arabia Congress, organized by QnA International, luxury travel, MICE and business travel from the Middle East are key hot topics. The schedule of topics at the MICE Arabia Congress 2016 will be in line with local, regional and global trends and challenges in the MICE and luxury travel sectors.

Speaking on particular preferences amongst Middle East outbound travellers, Mr. Freddy Farid, Area General Manager, Gloria Hotels & Resorts, said, “Luxury travellers from the Middle East region seek bespoke services, from culinary excellence to state-of-the-art technology, and spacious accommodation located within strategic locations in the city.” Gloria Hotels & Resorts is also a sponsor and participant at the 4thannual MICE Arabia Congress. While Mr. Tyurin suggested direct flights to a destination, well-known brands, and established suppliers are important factors in attracting travellers from the Middle East.

Mr. Tyurin also said, the Maikhao Hotel & Resort expects the MICE and luxury travel market from the Middle East to “Double over the next five years for Phuket as the destination becomes more popular within the Middle East market.” UAE is the second biggest market for outbound travel from the Middle East, surpassed by Saudi Arabia. The luxury outbound travellers are a combination of locals and expats from the region and they are usually aged below 35 and are high-income earners that embark on long-haul luxury trips.

“With luxury and MICE travel from the GCC increasing at an incredibly fast pace, the MICE Arabia Congress will provide a perfect platform for suppliers to network with and meet premium MICE and luxury travel representatives,’’ commented Mr. Sidh N C, Director, QnA International on the relevance of the MICE Arabia Congress.  The 4thannual MICE Arabia Congress will be held at the Palazzo Versace, Dubai from 01 – 02 March 2016.