THE LUXURY FAMILY TRAVEL MARKET IS EXPLODING
Families have always taken vacations and there has been tremendous growth in the luxury family travel market, influenced by several factors:
- Affluent households are spending more per year, exclusively on luxury family travel.
- Couples are having children later in life and are more affluent than their parents were, when they become parents.
- Parents today don't want to compromise their lifestyle and want to book only high-end hotels, resorts, cruises, tours and packages.
- As the family income increases, international trips become part of family luxury travel and kids become Global Citizens with their exposure to international cultures.
- Millennial parents value experiences over possessions and this mind-set is already carrying over into the luxury travel market.
- Parenting styles are changing with less separation between kids and adults activities.
- Traveling with your kids creates unforgettable family memories, provides lifetime education and enrichment for both kids and parents and forges closer family bonds.
- Adventure travel and beach vacations are the top two luxury vacation choices, with affluent families becoming more adventurous as their kids get older.