• Half of HNWIs expect to take two or three international holidays in the next 12 months
• More than two thirds spend more than £25,000 per person on their main international trip of the year
• To HNWIs, luxury travel means experiencing the world's best restaurants, tours and accommodation, enjoying exceptional service and having access to exclusive experiences and excursions
• HMWI's three main objectives for an international holiday are to explore new destinations, relaxation and immersing in local culture

 Audley Private Concierge (an exclusive and dedicated invitation-only service that matches clients with their own Private Travel Manager to seamlessly manage all their travel, launched recently by tailor-made tour operator Audley Travel) is today sharing compelling insight into the top end of the travel market. Spend and frequency of travel confirms this market continues to thrive and the research also found that perceptions of luxury travel vary with gender, age, and wealth among HNWIs, as does the way they research and book their travel.

Frequency of travel

50 per cent of HNWIs expect to take two or three international holidays in the next 12 months (with 27 per cent taking two international holidays and 23 per cent three). 10 per cent will travel once, 13 per cent four times, 11 per cent five times, four per cent six times and seven per cent expect to travel internationally more than seven times. Only three per cent don't intend to travel internationally.

Younger HNWIs expect to take more international holidays than their older counterparts. 12 per cent of 18-34s and 15 per cent of 35-54s plan to travel six or more times, whereas only eight per cent of over 55s say the same. Seven per cent of 55+ don't plan to travel internationally, compared to one per cent of 18-34s – all 35-54s respondents expect to go abroad.

Spend on travel

For nearly two in three HNWIs (64 per cent), typical total annual spend on international holidays is more than £40,000 for the household. Seven per cent spend more than £140,000, rising to 12 per cent for respondents in London. More than two thirds (69 per cent) spend more than £25,000 per person on their main international trip of the year.

There is a correlation between the higher per person per holiday spend and the number of trips – a third (34 per cent) of the respondents who say they plan to take six or more trips in the year also plan to spend more than £40,000 per person on their main holiday.

Older HNWIs typically spend less overall on trips than younger counterparts, as well as spending less on their biggest individual holiday. 40 per cent of those aged 55+ spend less than £9,999 on their main trip (compared to 13 per cent of 18-34s and 19 per cent of 35-54s). At the top of the scale, 15 per cent of 18-34s spend more than £50,000 per person (this falls to two per cent for over 55s and nine per cent of 35-54s).

What luxury travel means to HNWIs

To HNWIs, luxury travel means experiencing the world's best restaurants, tours and accommodation, enjoying exceptional service and having access to exclusive experiences and excursions (cited as the top three by 55 per cent, 52 per cent and 48 per cent of respondents respectively).

Males associate first class travel with luxury more than females (in the top three criteria of a luxury trip for 40 per cent vs 29 per cent), whilst access to prestigious events is in the top three for 34 per cent of females vs 23 per cent of males.

For wealthier HNWIs, privacy is key with 37 per cent for those with assets of £10m+ citing it in their top three, compared to 17 per cent for respondents with assets of £1m to £1.99m.

Exceptional service was the number one choice across all regions of the UK, with the exception of the north (where first class or private jet travel was cited as the main definer of a luxury trip by one in five (20 per cent)) and the Midlands (where one in five (21 per cent) opted for exclusive experiences and excursions).

What HNWIs want from an international holiday

HMWI's three main objectives for an international holiday are to explore new destinations (55 per cent), relaxation (51 per cent) and immersing in local culture (36 per cent). 

As a comparison, this question was also asked to a sample of the general population*. Finding new, exclusive experiences is more than twice as important to HNWIs than the general population (24 per cent cited this in their top three, compared to 10 per cent). Similarly, pursing personal passions is twice as important to HNWIs (25 per cent vs 13 per cent). Food and drink are less important to HNWIs than the general population (35 per cent vs 41 per cent).

Sustainable travel is of a similar importance overall to HNWIs and the general population - in the top three for 17 per cent of HNWI and 14 per cent of the general population. Looking at the different age groups for the HNWI respondents, it is twice as important for 18-34s than the older groups (nine per cent vs four per cent each).

How HNWIs book international holidays

More than two in five HNWIs (42 per cent) prefer independent online research. Younger travellers lean towards booking with a tour operator that is an expert in their chosen destination (40 per cent) and concierge companies are most likely to be used by travellers booking six or more trips per year (seven per cent), than those only travelling once or twice (four per cent) or three to five times (also four per cent).

HNWIs highly value personalised recommendations from a dedicated holiday planner who knows their preferences, with 56 per cent citing this as one of the main three most valuable offerings that this role gives (20 per cent ranked this as the main reason).

Nick Longman, CEO at Audley Travel, said: “The importance of knowing a clients' preferences is at the heart of the Audley Private Concierge offering, with each client matched with a Private Travel Manager. This relationship continues to develop as they create more trips together, so they will be able to anticipate the clients' needs and proactively inspire their future travels with fully personalised experiences that go far beyond the ordinary, supported by the expert knowledge from our large team of destination specialists.”

The full report can be downloaded here and more information on Audley Private Concierge can be found at www.audleytravel.com/about-us/audley-private-concierge

ENDS

Notes to Editors

The research was designed by Audley Travel and MillionaireVue from Savanta and was conducted with 500 UK-based HNWIs with £1m+ investable assets. The research was conducted in May and June 2024. Supplementary research with the general population was conducted by Kantar with a sample of 1,267 UK adults (18 plus) in May 2024.