Female 1% Driving Luxury Travel to New Places

BY KATY BARNATO, CNBC

Rising numbers of female millionaires and billionaires around the world may help drive a rise in luxury health and wellness holidays and women-only hotel services.

The number of female ultra-high net worth individuals (UHNWI) — those with net assets of $30 million or more, excluding their primary residences — is increasing faster than male UHNWI, encouraging travel agencies, hotels and tour operators to focus on their interests. These include holidays that focus on “wellness” and can be combined with business or voluntary work, according to data provider WealthInsight.

“Interview and secondary research show that spas, yoga, meditation, health and wellness are appealing to female UHNWI,” Roselyn Lekdee, economist at WealthInsight, told CNBC on Wednesday.

In a report on Tuesday, Lekdee said the number of wealthy females rose by 5.3% between 2010 and 2014 in locations with large UHNWI populations. The number of male UHNWIs rose by 4.4 percent, although there were still far more male than female multimillionaires.

“As wealthy females have greater control over their careers and finances, they are becoming more selective about holidays, demanding personal and more sophisticated services,” Lekdee said.  Read more >>

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