Luxury travel to outpace the rest of the industry: Amadeus

amadeus_logoThe latest report published by Amadeus reveals an insight into the expectations for the future of the world by 2030. Their reports predict that by 2020 there will be a global air traffic volume growth of 5.5 per cent in the airline industry with a projected growth of luxury travel to 6.2 per cent with an overall global growth of 4.8 per cent. Their predictions for the region include Kuwait, Qatar and UAE will grow by 4.4% almost similar to the flat growth of Luxury market of 4.5 per cent (oil dependent economies). Emerging Middle East: Lebanon, Jordan, Egypt and Iran economic sanction lifted CAGR for overall travel is 7.5 per cent and 8.9 per cent for luxury travel. At the same time the projected growth in BRIC highly influenced by the economic climate show Brazil’s lack of established middle class and the weakness of the real means a slow growth of 4.2 per cent growth. Russia will recover from its dip in 2013-15 to rise up to 9 per cent growth despite Western sanctions and unreliable oil prices. India with the highest CAGR of the 25 countries explored with 12.8 per cent growth due to its booming middle class represents the biggest luxury travel investment potential. China with 12.2 per cent growth but at a slower pace than previously as its middle class is maturing and increasing in sophistication, and unlike India the ‘boom’ has already happened. Contributing against luxury is the current fight against corruption.