Image: Mastercard
According to a new report, the Middle East and North Africa (MENA) region is driving growth in affluent travel, characterised by high spends and a growing affinity for sustainable eco-luxury and cultural immersion.
Mastercard’s latest report, Affluent Travel: A Middle East Perspective, unveiled at the Arabian Travel Market 2024, sheds light on the key trends shaping the luxury travel landscape.
Overall, the report revealed a growing appetite for new experiences in unexplored destinations, micro-trips and ‘bleisure’.
These trends will likely enable the rise of the global luxury travel market, which is expected to grow by 7.9 per cent (CAGR) between 2024 and 2030 (based on stats from Grand View Research).
The report alludes to Jones Lang LaSalle’s study, which underscores the significant contribution of affluent travellers, who account for approximately 36 per cent of the global spend on travel.
Key trends: Luxury travellers
The report highlighted YouGov…