cheryl
Administrator
Staff member
African Travel: The Meeting Point between Luxury and Adventure - Travel Market Report
Sherwin Banda, president of African Travel Inc., is a trend watcher. As a specialist in travel to the continent of Africa, Banda has a close-up view of what travelers are doing in some of the most adventurous travel destinations in the world. Travel Market Report recently approached Banda and asked him to share some of the trends he has been seeing from his front-row seat overlooking the adventure market, the African market, and the luxury market.
Besides closely monitoring his own company’s sales, and those of African Travel Inc.’s sister companies in The Travel Corporation, Banda has also been watching whatever market research he can get his hands on. African Travel recently partnered with Virtuoso, the luxury travel consortium of which African Travel is a preferred supplier, on market research in the luxury travel space, focusing on the most highly valued demographic in the travel industry.
Drawing on data from the U.S. Bureau of Labor statistics, Banda said: “While Americans who earn more than $100,000 income only make up 20 percent of the U.S. population, they account for 51 percent of travel-related spending. Given the spending power of this group in relation to its size, it’s no surprise that travel brands are highly interested in catering to these affluent travelers.”
Sherwin Banda, president of African Travel Inc., is a trend watcher. As a specialist in travel to the continent of Africa, Banda has a close-up view of what travelers are doing in some of the most adventurous travel destinations in the world. Travel Market Report recently approached Banda and asked him to share some of the trends he has been seeing from his front-row seat overlooking the adventure market, the African market, and the luxury market.
Besides closely monitoring his own company’s sales, and those of African Travel Inc.’s sister companies in The Travel Corporation, Banda has also been watching whatever market research he can get his hands on. African Travel recently partnered with Virtuoso, the luxury travel consortium of which African Travel is a preferred supplier, on market research in the luxury travel space, focusing on the most highly valued demographic in the travel industry.
Drawing on data from the U.S. Bureau of Labor statistics, Banda said: “While Americans who earn more than $100,000 income only make up 20 percent of the U.S. population, they account for 51 percent of travel-related spending. Given the spending power of this group in relation to its size, it’s no surprise that travel brands are highly interested in catering to these affluent travelers.”