The rising Importance of the female travel market in Asia Pacific

Luxperience 2014 and the rising Importance of the female travel market in Asia Pacific

The rise of the female traveller, on business and leisure, in Asia Pacific continues to grow at an exponential rate.  By 2030, it is estimated that it will have increased by as much as 400%. Luxperience 2014 is working with its exhibitors to ensure that they are responding to and capitalising on this market trend. 

Lindy Andrews, CEO of Luxperience says, “There is no doubt that there has been a rise in female travellers across Asia. The majority of these affluent Asian women travelling are from the wealthier areas of Asia, such as Tokyo, Singapore, Taiwan, Beijing, Shanghai, Hong Kong or Seoul.  Just as an example, in Singapore 32% of all business travellers are female and Hong Kong has the largest percentage of female business travellers at 36%. At Luxperience 2014, we are happy to share these learnings with our exhibitors to ensure they have the market knowledge prior to their joining us so that they can cater to these  all-important markets and are thus able to establish meaningful connections with our international buyers.” 

Some pointers from the Luxperience 2014 team on how to cater even more effectively to the female travel market in Asia Pacific:

·         Solo travel is a growing trend amongst female travellers – consider introducing a no-single supplement during your shoulder months

·         Include an experiential aspect to your product - experiential packages have gained traction with many women citing adventure sports rather than shopping as the past time for their holiday.

·        Women  are known to do their research through peer-to-peer recommendation – win over the female travel sector through “real” and effective engagement on your  social media channels

·         For hotels – consider introducing women-only floors

·      Hotel spas – offer a health and wellness centre as opposed to a fitness studio, or  if space and investment in your property are a concern, look to providing  in-room spa services  and/ or  partnering with a local accredited alternative therapy practitioner     

·       Guided shopping – have ready a list of top 10 shops in your city / location for women travellers looking for some retail therapy.  This responds to a market trend amongst Asian female travellers in particular.  Research shows that many purchase travel as a gift for themselves, or as a reward or an opportunity to celebrate a special occasion. On a trip like this, spending levels reach between $5,000 and $20,000. In fact, a recent survey shows that affluent Asian women are more likely to purchase an overseas holiday than men (96% vs. 89%) and these women have the financial power to buy luxury premium goods. In China alone, female consumers dominate the purchase of luxury goods.

Lindy says “Given the massive spending power of the Asian woman, tourism operators need to think about tapping into this market. The number of women travelling in Asia will continue to rise, especially as Asian economies and the travel industry continues to mature; tourism operators need to respond to this.”

Exhibiting at Luxperience 2014, Beverly Hills Conference and Visitors Bureau share that they have not only seen a rise in female Asian travellers, but also male. In fact,  shopping from Asia visitors (both male and female) yields the highest revenue to the destination. Some of its luxury retailers say as much as 50% of purchases are made by Asian visitors. The wide acceptance of China Union Pay debit and credit cards in Beverly Hills adds convenience to shopping from mainland China.  

To ensure they are ‘China ready’, the Beverly Hills Conference and Visitors Bureau (BHCVB) has ensured that several of its five star hotels include amenities such as Chinese breakfasts, tea and packaged noodles with kettles in each room, Chinese newspapers and slippers. They are also working closely with a local affiliate of China National Television in Guangzhou to investigate adding Chinese TV stations in their hotel rooms.  The Visitor Center also employs bilingual staff who are trained to assist visitors with directions, suggestions and collateral all in-language. BHCVB will use their participation at Luxperience as a platform to update Asian buyer delegates at the global business exchange, on these initiatives.

Luxperience 2014 will take place from 31 August to 3 September 2014 in Sydney Australia.

For participation from India, get in touch with Deepika Chowdhry at deepika@candidindia.com