Last week  we  covered two major conferences held simultaneously, but worlds apart in many ways---Cannes “By Invitation Only” and Vegas “come one, come all” approach for travel agent attendees.

On Monday our Cannes brieflet highlighted the Ecotourism program sponsored by Departures, with excerpts from an insightful presentation by By Costas Christ, Global Travel Editor, National Geographic Adventure Magazine. www.luxurytravel360.com).

Today we continue our Two Continent Coverage with:

• The Mighty Math of Luxury Travel—an exciting data report from Cannes ILTM

• Excerpts from BECOMING GREEN + STAYING LUXURIOUS,  a Challenge Presentation by Richard Story,……

• Editor at Large Harvey Chipkin’s Nifty Nugget Report from the Exhibit Hall floor at Vegas Expo

• The global luxury travel business now comprises an estimated 25 million annual arrivals (3% of total international arrivals) accounting for 25% of international tourism spend – at least US$180 billion.   On average, spend per trip is estimated at between US$10,000 - 20,000.

• The luxury travel boom is being fuelled by the increase in High Net Worth Individuals (HNWI) - those with at least US$1million in net financial assets - and also by the growth in their individual wealth.  The number of HNWI grew by 8.3 % in 2006 and their individual wealth grew by 11.4%.*  * World Wealth Report (Merrill Lynch and Capgemini)

• Wealth is concentrating to an even greater extent amongst Ultra High Net Worth Individuals (Ultra HNWI) – those with financial assets worth at least US $30 million – whose number increased by 11.3 per cent in 2006 with their assets growing by 16.8 per cent

• (Brad Monaghan, Marketing Manager at ILTM): "This first luxury travel industry report was commissioned to give our industry a global overview and insight into the size, growth, trends and issues affecting our business. The research is based on ILTM Buyers survey plus individual interviews conducted with key industry figures around the world. "

Becoming Green + Staying Victorious

Richard Story, Editor Departures –Personal Wish List on 10 Ways to Help Save the World of Travel Luxury- Here are excerpts from two that particularly grabbed our interest.

• Get used to fewer vacations, longer time frames. Borrow from the European  month-off in August rather than five quick hits a year? At the top of  the industry there is a growing move away quick getaway weekends.   DEPARTURES Luxury Advisory Travel Board Survey found that readers took 1 million fewer trips over the past 12 months. But trips were A)  LONGER and B) MORE EXPENSIVE. 

• Go Local. Yes, local is what the luxury traveler wants….” It’s the holy grail of luxury travel, don’t you think? ….Local has never looked so good/had such grace/tasted so delicious…Never has what’s right outside our own hotel window or tented camp seemed so very much a part of the future for the ( luxury marketers) in this room.”

Nifty Nuggets from Vegas Luxury Expo: Harvey Chipkin Roams the Halls

Lalia Rach , NYU,

• Social networking will be huge for the affluent. Note www.smallworld.com
• Agents will have to blog… and soon, or lose lots of money.
• WOM Rules! And social networking is “virtual WOM.”
• Re customer-“If you don’t know their dreams, who does?”

      *Kristi Jones , President Virtuoso- ( see earlier coverage www.luxurytravels360.com -- PLUS – “I know an agent who gets together with customers to do a ten-year travel plan”—where they’d like to go, etc

Horst Schulze- Keynote Speaker for the Luxury Institute,-Chairman, Capella Hotels, formerly, of Ritz Carlton fame—Harvey says: “Passionate and funny.”

• “I will be giving you the facts. If you have a different opinion, you are wrong.”
• “The luxury market will be growing for the next 20 years.”
• “The son of the old luxury traveler is a totally different customer... They want you to think they’re humble, but their jeans cost $5,000. They don’t want to wait for anything. They want hot coffee right now—then they don’t drink it for 10 minutes.”