Luxury Travel: Is it only for the affluent? Conceptualization and exploratory empirical investigation of the financial Domains in a mature market - Switzerland
Type
conference keynote
Date Issued
2016-03-31
Author(s)
Abstract
This paper brings forward a conceptual model including the financial domains of luxury travel. Hereby we propose that luxury travel can not only be assessed from an absolute travel expens-es perspective (travel expenses of the potentially affluent, i.e. tycoons, high net worth individ-uals, or rich, etc.), but a perspective 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 motivation, travel type) travel descriptors can predict if a given trip in the above context can be considered a luxury (vs. a budget) trip. The results 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 traveler.
Language
English
HSG Classification
contribution to scientific community
HSG Profile Area
SHSS - Kulturen, Institutionen, Maerkte (KIM)
Event Title
51st Tourist Research Center (TRC) Meeting
Event Location
Helsinki
Event Date
31.03.-03.04.2016
Subject(s)
Division(s)
Contact Email Address
margareta.brugger@unisg.ch
Eprints ID
249788