PREMIUM travel and hospitality will be the focus of a new theme at Arabian Travel Market (ATM) 2014 with the launch of ‘Spotlight on Luxury’. The focus will bring together luxury brand exhibitors, targeted luxury buyers and visitors along with a number of special seminar sessions exploring the high value market segment for both inbound and outbound travellers.
Research released by the Boston Consulting Group (BCG) put luxury goods and services spending by the world’s super rich at $1.8 trillion in 2013, with $1 trillion spent on services and $460 billion allocated to one-of-a-kind travel adventures. Senior partner Antonella Mei-Pochtler noted a shift in consumer trends for luxury, from ‘owning’ (a luxury product) more towards ‘experiencing’ (a luxury product).The region’s penchant for a luxury lifestyle is well documented, and supported by some of the highest per capita wealth in the world. According to a 2012 Credit Suisse report, the number of millionaires in the UAE is set to grow by 12 per cent by 2017, reaching 48,000 individuals. “If you look at the region there can be few places on earth that have such a concentration of luxury five-star hotels complemented by a lifestyle to match, from super yachts and multimillion-dollar homes to dining opportunities courtesy of some of the world’s best chefs and private jet travel. The luxury theme clearly resonates with ATM participants and so we have a dedicated platform for discussion and brand showcasing this year,” said Mark Walsh, Portfolio Director, Reed Travel Exhibitions, organiser of ATM.Luxury tourism, both inbound and outbound, is also heavily allied with high-end retail and a UK report published by transaction company Global Blue noted that Middle East travellers made up 26 per cent of the total spend by international visitors between January and July 2013, with a focus on luxury goods. Luxury retail in the UAE is valued at around $6 billion per annum, according to a report from upscale regional retailer The Chalhoub Group, and 82 per cent of the world’s leading luxury brands have a presence in Dubai.The Oberoi, Dubai, is the official luxury hotel for luxury buyers at ATM 2014. Karim Bizid, general manager of The Oberoi, Dubai, said: “We are looking forward to participating in the show with Oberoi Hotels & Resorts, we are recognised as one of the world’s leading luxury hotel brands, to welcoming luxury buyers and valued business partners to the hotel.” Hosted buyers representing the luxury segment will be present along with a collection of renowned luxury hospitality brands including Amenyara and Zaya Retreats, Anantara Resorts & Spas, Mandarin Oriental, Kerzner International, Fairmont Hotels & Resorts, Raffles Hotels & Resorts and Swissotel Hotels & Resorts, Taj Hotels Resorts & Palaces, Oberoi Resorts & Resorts, Bulgari Hotels & Resorts and The Ritz Carlton Hotel Company. “We will also be holding several luxury-themed seminars, which will examine key opportunities in the global luxury travel arena and what this means for tourism in the Gulf. These are must-attend events for anyone looking to specifically target this sector of the market,” said Walsh.A session entitled Luxury on Trends will be held on May 6 featuring a panel of luxury experts including Simon Lynch, director of business development, Abercrombie & Kent; Travel Attaché CEO, Liam Wholey and The Travel Collection owner and MD, Jacqueline Campbell. A 2014 report released by Cox & Kings said that the luxury travel landscape will see an increase in culinary adventures/gastronomic pilgrimages, the adding-on of destinations to extend layovers as high-net-worth globetrotters increasingly break up long haul flights, and exotic excursions as part of an adventure bucket list.