Luxury travel facts about India
India Luxury travelers are very clear about their preferences. They want to understand and look for authenticity and experiential travel. Culinary experiences are high on their list of special-interest themes, along with art and culture, off the beaten-track destinations, spectacular scenery and natural reserves.
The number of high net worth individuals (HNI’s) or individuals with investable assets of US ($ 1 million or more) in India has grown for the second straight year. The global property consultancy firm ranks India at 5th spot with 122 billionaires as of 2012 end in the top 10 countries for billionaires that are expected to increase to 225 billionaires with an 84% growth by 2022.The report ranks Mumbai at the 7th spot with a total of 2,015 HNI’s in the top 30 global cities; while Delhi is at 11th spot with 1,905 super-rich individuals.
One of the emerging trends is longer trips. HNI Indians value leisure time more than the ‘point-covering’ mindset of the other segments. Insta-travel, driven by the advent of smartphones and information availability on your finger-tips, is another trend. Luxury travelers are using internet as their first point of research for their plan travels and are active participants on social media networks like Facebook and Twitter. Nevertheless, they value the expertise of the seasoned travel agents.
India has seen a seven fold increase in the last decade in her international tourism boards, hospitality representations & overseas attractions till date. This is the sunshine market & the Luxury sector is OPPORTUNITY!
The increase in single women travelers, double income and no kids (DINKS), HNWI Luxury travelers or “closet customers”, bespoke trousseau shopping trips, extra large destination weddings where cost is no bar, unusual honeymoon destinations, exotic locations for big budget Bollywood films, overseas experiences for the “been there & done that” travelers, those who pay for being cosseted and pampered, health & well being indulgence, spa holidays, exclusive golf, whisky & wine trails, luxury cruises & trains, out of the boxes Luxury experiences – Indians want all that and more!
Luxury references points
- Luxury travel has come of age for HNI Indians for the past few years. They are clearly becoming more adventurous in their destination choices, looking beyond South East Asia. Even when traveling to these regions, they are making more discerning choices opting for looking beyond South East Asia to Europe and the Americas.
- The increased money power shows in the elan with which they travel – be it splurging on Luxury goods, the mode of local travel or that of opting for Fine Dinning Restaurants.
- High Network Individuals, HNI’s are expected to grow six fold by 2030 – from around 0.2 million in 2011 to over 1.2 million by 2030. This segment is fueling growth at the Luxury end of the market. These are evolved travelers who need personalised and customised service.
Vkonect Luxury, 10-11 October, 2015, The Westin, Gurgaon
- Vkonect Luxury will showcase Luxury products, destinations, properties, experiences and services to the niche B2B buyers catering to affluent, outbound and domestic travelers within India.
- Vkonect Luxury offers exhibitors a one of kind platform for promotion with an end to end event cost of US $ 4150 / INR – 2.50 Lac (Service Tax Extra @ 14%).
- Hospitality at a Luxury property for 1 nights with breakfast, dinner and lunches.
- Showcase, promotions, media coverage in Hospitality Travel, Trav Talk, TravelTV.News.
- Feature in Trav Talk publications, TRAVEL TV. NEWS, Luxury B2B publication coverage, event advertising.
- Cocktail & 1st night Gala dinner.
- Vkonect is a closed door.
- Introductory session on Day 1, with inspiring insights on the Luxury segment in the India market by guest speaker’s.
- 25-30 pre matched / fixed and compulsory appointment slots of 15 minutes each over Saturday/Sunday to finish by lunch on day 2.
- Minimum one-to-one ratio of buyers is to sellers / exhibitors.
- Specially designed exhibitor tables and booths for additional sponsorship.
- Attractive discounts / offers for Exhibitor groups booking 3 tables or more.
Vkonect Luxury, 2nd Edition -The Westin, Gurgaon, Saturday & Sunday, 10th & 11th October, 2015, New Delhi.
VKonect Luxury – Oct 14, Post Event Report
Vkonect Luxury Survey October 10th-11th, 2015 Westin – Gurgaon