Luxury Travel: Is it only for the affluent? : Conceptualization and exploratory empirical investigation of the financial domains of luxury travel in a mature market - Switzerland
Type
presentation
Date Issued
2013-08-27
Author(s)
Abstract
This paper brings forward a conceptual model discussing the financial domains of luxury travel. We propose that luxury travel can not only be assessed from an absolute travel expenses perspective (travel expenses of the potentially affluent, i.e. tycoons, high net worth individuals, or rich, etc.) but a perspecitve needs to be included which accounts for travel expenses in relation to resources, such as income. We test to what extent objective (destination choice, accommodation choice, and trip duration) and subjective (travel motiviation, travel type) travel descriptors can predict if a given trip in the above context can be considered a luxury (vs. a budget) trip. The result for the case of Switzerland - a mature and sophisticated market - reveal that luxury travel does not only constitute intercontinental travel with staying in five star plus hotels but incorporates a much broader variety of travel components, very much dependent on the perception of the traveller.
Language
English
Keywords
travel expenditure
luxury travel
budget travel
HSG Classification
contribution to scientific community
Refereed
No
Event Title
AIEST Conference
Event Location
Izmir, Turkey
Subject(s)
Eprints ID
227714