Luxury Tourism Recovery Quicker Than Budget Tourism in US Due to Increase in High-Net-Worth Individuals

GlobalData | January 24, 2022

The pandemic has transformed many travelers into high-net-worth individuals and made the super-wealthy even wealthier, according to GlobalData. The leading data and analytics company notes that 29% of respondents in one of its live polls state that their budgets are ‘a lot’ or ‘slightly’ higher than pre-pandemic. The luxury leisure market experienced a strong start to recovery as wealthy consumers, now with higher levels of disposable income, began to travel once again in 2021. When looking at the US specifically, GlobalData found that total hotel revenue from leisure travelers for luxury hotels showed the strongest recovery in 202...