Luxury travelers losing confidence
Luxury travelers along with service businesses lost some confidence in the third quarter of this year.
The Luxury Consumption Report put out by United Marketing dropped to 96, or down 6.7 points from the second quarter.
Said Pam Danziger, president of Unity Marketing:
“There is a myth in luxury marketing circles that the affluent are immune to economic ups and downs. That isn’t true any longer. In fact, luxury consumers with their surfeit of material wealth have no pressing need to go shopping, dine out or travel when they don’t feel confident.”
She said foreign travel was particularly impacted.
“Luxury consumers’ feelings of finanicial stress kept them homebound in the third quarter. In the months when we would expect travel to rise, it actually declined, with foreign travel really taking a hit,” she said.
But as political uncertainties from the election subside and the stock market rebounds, she added luxury service and goods providers might expect a return “in full force” in the last quarter of this year.
Report by David Wilkening
David
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Phocuswright reveals the world's largest travel markets in volume in 2025
Higher departure tax and visa cost, e-arrival card: Japan unleashes the fiscal weapon against tourists
Cyclone in Sri Lanka had limited effect on tourism in contrary to media reports
Singapore to forbid entry to undesirable travelers with new no-boarding directive
Euromonitor International unveils world’s top 100 city destinations for 2025