Luxury holiday market 'alive and well'
By Perfect Blue Staff Writer
Island News (Published: 05 December 2009)
Far from suffering the effects of the recession, luxury holidays in places such as the Greek islands of Santorini and Mykonos are healthy and kicking, an industry expert has said.
Executive director at the Association of Independent Tour Operators (AITO) Kate Kenward said there would "always" be a market for upmarket getaways - but the concept could be changing.
She pointed out that the word luxury could mean "a lot of different things".
"I think it is, time wise, the luxury of going to a destination where many people may not be able to go to."
Her comments follow survey findings from PricewaterhouseCoopers suggesting 18 per cent of upscale holidaymakers were planning on cutting back on their sunny sojourns.
Those polled revealed they would sooner cut back on nine different lifestyle areas including designer cloths, electronics and restaurants meals than on their getaways.
Leisure director Guy Gillon relayed study results indicating the luxury holiday market had been insulated from the discretionary spending cull felt elsewhere in the market.
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