VisitBritain is preparing a worldwide advertising campaign in the spring to attract more "High Net Worth" individuals - rich people with more than $1 million in spare cash - whose numbers worldwide grew by 17.1 % in 2009 to 10 million. For the first time there are as many in Asia as Europe and North America - about three million.
The report identifies a fashion among the rich for dream-like, unreal "fairytale" holidays. Many want fantasy experiences where, for example, guests re-live the lives in a British stately home. Patricia Yates, Director of Strategy and Communications at VisitBritain said: "Britain is already regarded by many of the international jet-set as the original home of luxury, thanks to our centuries-old aristocratic traditions and history of service...Britain stands out because it has the original world renowned luxury experiences and brands."
The report identifies three tiers of luxury: the "gold" for the wealthy who love bling and showing off. Gold is “bling-luxury” where people show off their wealth in every way possible. “They’ll choose the more expensive option because it’s more expensive” said Chris Bicalho, Brazil tourism expert.
"Platinum" for the rich who are less overt. Platinum is a less ostenatious comfortable luxury. The consumers live their lives according to a set of principles and don’t need to flaunt their wealth to establish their worth amongst their peers.
While "black" luxury is for those who love understated wealth but revel in utter exclusivity and the feeling of total freedom money brings. Black is understated, minimal but substantial. It is the ultimate in exclusivity, somewhat old fashioned and established. It’s about old money, or at least a feeling of confidence in wealth and a person’s position in society. It is top of the tier and is about being part of the club, in the know or having the freedom to be whatever they want to be.
The world of luxury is shifting from the ostentatious to something more refined. Luxury is not having more, but having the “latest”, the rarest and the best. For many, luxury travel is a childhood dream come true – like seeing an unreal fairy tale or revisiting history. A luxury holiday detaches them from everyday life, cannot be replicated in the real world. Luxury travellers often want their holidays to establish their social status or kudos by giving them the chance to tell the story of how they did something new and unique or use an experience in their daily lives.
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