SHANGHAI, China – Working in partnership with its exhibitors, International Luxury Travel Market Asia 2016 is now registering the continent’s most high level and productive luxury travel agents to attend. 26 Asia Pacific countries will be represented and over 40% of the hosted luxury travel buyers will be first time attendees to ILTM Asia 2016, taking place 30 May – 2 Junein Shanghai.
Up to 500 exhibitors will showcase their brands and launch new products to highly qualified hosted buyers and top tier industry media, each pre-qualified to attend. Organisers have put a strong focus on recruiting even more buyers from China as well as Singapore, Indonesia and Hong Kong. Exhibitors will take the unique opportunity to meet with buyers from both established and emerging markets with the focus on developing immediate business opportunities as well as positioning for future growth.
International tourist arrivals grew by 4.4% in 2015 to reach a total of 1,184 million, according to the latest UNWTO World Barometer. Some 50 million more tourists travelled to international destinations around the world last year compared to 2014. 2015 marked the 6th consecutive year of above-average growth, with international arrivals increasing by 4% or more every year. China continues to lead the growth with outbound trips from China predicted to double by 2020, to approximately 234 million annually.
Chinese tourists are the biggest global spenders with total overseas spending increasing by 23% to US$229 billion in 2015, and projected to reach US$422 billion annually by 2020, as reported by the Fung Business Intelligence Center. The Chinese market accounts for 35% of all luxury retail spending according to the Hurun Luxury Report 2015.
During the four days of last year’s show, buyers expected to place USD 50 million as a result of the meetings that took place. Driving the growth of spending and tourism out of Asia, is the population of High Net Worth Individuals (HNWI) which continues to expand. The region is set to see the world’s highest growth of HNWIs projected into 2017, with 10.3% growth compared to 6.7% for the rest of the world according to the Capgemini Asia Pacific Wealth Report 2015. Given this growth in wealth combined with Asia’s increasing affinity for international travel, ILTM Asia 2016 is expected to lead to more business than ever.
Julian Hagger, LUX*Resorts & Hotels says:
“The Chinese and Asian Market is hugely popular for us not only for guests to Mauritius and The Maldives but now as we expand in China, ILTM Asia 2016 is once again the first date on our sales calendar every year!”
Ben Chapman, Tourism New Zealand adds:
“The knowledge of our luxury offering across Asia – and particularly China – is developing at pace. ILTM Asia continues to be an ideal platform to raise awareness across our key markets. ”
Alison Gilmore, Director, ILTM Portfolio concludes:
“ILTM Asia invites and hosts only those buyers who have significant business to place with exhibitors from multiple global destinations. With the combination of growth in both travel and wealth coming out of the Asia Pacific and especially China, we’re proud to offer exhibitors a valuable opportunity to reach this key source market. “Products or trips marketed as ‘authentic’, ‘limited edition’ or ‘VIP’ have always appealed to travellers from China. That used to mean shopping for luxury brands and visiting landmarks, but it now stretches to polar expeditions, cruises and safaris, all of which can be sourced in one place – ILTM Asia 2016.”