India: Leader in luxury
Posted: Wed 16 Feb, 2011 3:53 PM
The International Luxury Travel Market (ILTM) Leaders Forum, which gathers 24 leaders of the global luxury travel industry, anticipates India to lead the luxury travel sector in 2012.
The Indian and Chinese markets experienced significant growth despite the recent global financial crisis. Paul Kerr, CEO, Small Luxury Hotels of the World, was quoted in Travel Daily India as having said that the Indian luxury market comprised of regular guests rather than aspirational travellers saving for a one-off luxury holiday and, just like any other luxury traveller, the Indian millionaire wants freedom of choice.
The Indian luxury market is expected to grow by 21% in the next five years, compared to the global growth rate of approximately 15%.
