We recently came across a very interesting study from American Express focusing on affluent spending on travel. The main assertion is that affluent adults with children spend twice as much on travel than those without.
Granted, this is intutive in some ways. Adults with children who choose to travel automatically spend more, as they are paying for more people. However, there is another element highlighted in the survey that I found interesting. According to Simon Kahn, vice president of American Express Platinum and Centurion Product Management, American Express: “Travel is a top passion among affluent parents and they want to share their passions with their children to ensure they are culturally aware and well-rounded.”
Traveling with children becomes a priority, due to the adults love of travel (and one would assume, love of their children). Great information to keep in mind when marketing high-end vacations.
In the same vein, Seth Godin wrote about how summer camp changes lives. Being a hard core camp kid myself, this made me rather happy (and is another great example of parents spending on their children).Though I disagree with him, I think my camp was better than his.
See the AmEx study here, and Seth’s post here.
Cheers,
Lauren
