On the exhibitor front, new additions include Seabourn cruises, Radisson Hotels, Rwanda, Singapore Tourism Board, Minor Hotels, Resorts World Sentosa and Visit Florida.
The second ILTM Asia Pacific has opened in Singapore with more than half of the buyers attending the luxury trade show in the region for the first time.
This year’s attendees include buyers from Armenia, Moldova and Belarus, in addition to those coming from key Asian markets such as Australia, New Zealand, Philippines, Malaysia and South Korea.
On the exhibitor front, new additions include Seabourn cruises, Radisson Hotels, Rwanda, Singapore Tourism Board, Minor Hotels, Resorts World Sentosa and Visit Florida.
The strong showing is a reflection of the industry’s confidence in Asia’s wealth growth, which is “on track to surpass US$42 trillion by 2025,” according to Capgemnini.
According to the 2019 Wealth Report by Knight Frank, eight of the top 10 fastest growing wealth populations are forecasted to be in Asia over the next five years.
Particularly noteworthy is India, which leads in terms of the predicted number of Ultra High Net Worth Individuals (UHNWI), with 39% growth. This is followed by the Philippines (38%) and China (35%).
To find out more about what this segment of travellers is after, head to the seminar on “The Asian Millionaire Traveller in 2019” at Ritz Carlton Millenia Singapore on May 27, happening between 4:30pm to 5:30pm.