SERGE Dive and David Hammond, the founders of IL TM, have joined forces with Reed Travel Exhibitions to launch an Asian version of ILTM, Asia Luxury Travel Market.
An event to allow exhibitors to interact with buyers from the whole Pan Pacific/Asian region will take place next year in Shanghai from June 18 to 21 2007. It will consist of an identical format of ILTM, meaning all buyers will be fully hosted and will be carefully vetted to ensure only the best in the business attend.
"We always intended to extend the ILTM portfolio into Asia, even in the early days of ILTM. We realised that because of obstacles of time and distance it wasn't possible to fully explore the market’s potential from outside the region, and indeed many of our established exhibitors have requested such an event,” said David Hammond.
Worries that the event would overlap with ILTM were dismissed by Tom Nutley, Chairman of Reed Travel exhibitions. “There will continue to be strong delegations of Asian buyers in Cannes but this is a further opportunity for any exhibitor who wishes to prioritise or develop the Asian market, to see over 300 of the leading purveyors of luxury travel from the Asian region. To this end we have ensured the show is in June to allow time for companies to be at both events..”
Purchase of luxury travel is growing significantly in Asia with individuals with a net worth millionaire status growing by 8.2 per cent in 2004 (twice the rate of Europe) and now their numbers are equivalent to the USA. China is particularly strong in its growth with annual 10 per cent increments predicted over the next 10 years.
“The event will reflect not only the current status of the Pan Asian market, but its future developments. ALTM will host buyers from 30 different countries Asia-wide. The largest delegations will obviously be from Japan, China, and Australia, but we will also be bringing significant delegations from India, South Korea, and Soviet Pacific,” said Dive.
All buyers will be flown in by ALTM and will receive a five-star ground package. Ritz Carlton will be the official partner hotel in Shanghai and all hosted buyers will be accommodated there for their full duration. In return the buyers are obligated to play a full part in a pre-arranged appointment schedule identical to ILTM in Cannes, and any buyers not prepared to adhere to the rules will be excluded from the event.