Luxury Travel

The Luxury Travel Study, a PYMNTS and Flywire collaboration, focuses on the luxury vacation market and the financial challenges that prevent many consumers from pursuing such trips. The study is based on the survey responses of more than 2,000 U.S. consumers who took and paid for luxury vacations last year, plan to take them next year or took and paid for luxury vacations in the past and plan to do so in the future.

Key findings in the study include:

• 13.6 percent of luxury vacation consumers are adventure travelers who enjoy activities like heli-skiing, mountaineering, taking charter flights, riding in helicopters or exploring exotic places like Machu Picchu.
• 50.7 percent of survey respondents pointed to luxury vacations’ costs as a key factor derailing their abilities to pursue such trips.
• 59.7 percent of adventure vacation travelers and 56.7 percent of luxury vacation travelers said they would take more trips if they had access to innovative payment solutions that enabled multiple participants to contribute funds, make recurring payments or track payments, among other features.
• 45 percent of adventure travelers believe innovative payment solutions would make it easier to pay for vacations.