Emerging markets and the future of luxury travel were the hot topics of debate at the fifth International Luxury Travel Market (ILTM), which took place in Cannes. The show welcomed over 3,000 visitors through its doors between 4 - 7 December.

This year, ILTM focused on the newcomers to luxury and of the 1,244 exhibiting companies from over 80 countries, over 100 were brand new to the show. A carefully selected group of high-end buyers attended the show from 64 countries worldwide, which resulted in over 42,000 appointments taking place over the three days.

As part of their new proactive marketing effort in Europe, The Turks and Caicos Islands Tourist Board exhibited for the first time, highlighting some of their award-winning luxury properties. Also debuting were Virgin Limited Edition and Mallorca Farmhouses, who both showcased their portfolios of unique retreats. Other newcomers included Ananda - a five star spa retreat in India, Nomads of the Sea – a new luxury expedition cruise in Patagonia and a luxury mountain resort operator in North America called Vail Resorts.

Emerging markets and luxury travel trends were further highlighted in the ILTM and Departures magazine Conference theme ‘Broadening Horizons’, which welcomed panellists and speakers from hotel gurus to luxury goods marketers to provide thought provoking debate.

Some key emerging trends in the luxury travel market include:

• Key emerging markets in luxury travel include South America, India, Russia and the Middle East. Russia has a comparatively young travel industry (approximately 15 years old), and only five million Russians can afford to travel, with Turkey and Egypt being their top European destinations.



• Luxury has become a personal state of mind and is more about having an authentic experience that engages the individual. Individualisation is more important than ever, with high-end travellers demanding exclusive, educational experiences that reflect their own specific tastes and values.



• People are generally striving for ‘worthy’ holidays and learning experiences - to give themselves ‘conversational currency’.



• Americans are becoming more influenced by Europeans in pursuit of authenticity. They are less concerned with flash and cash and want true and cultural experiences instead.



• According to Forbes magazine, the number of billionaires has grown from 140 to 793 in the past 20 years. There are now almost nine million millionaires (US$) worldwide.



• Family is a huge growth area – especially multi generational families. Companies should provide suitable services for all ages of children (e.g. hotel mini bars with children friendly products, tour operator tailor-made programmes for children).

Encompassing discussions and seminars, the conference drew over 460 attendees. Speakers included Michael T. Londregan, Vice President for the Americas, Tourism Australia; Peter Greenberg, Travel Editor, NBC Today Show and AOL; Raymond Bickson, Managing Director, Taj Luxury Hotel Group and Sophy Roberts, Editor-at-Large, Departures Magazine.

The speakers covered topics such as the issues of private ownership, destination marketing, how luxury continues to redefine itself and the new emerging markets for luxury travel.

Debbie Joslin, Exhibition Director said, “The 2006 show was a great success with some very positive feedback from exhibitors and buyers alike. Their comments have reinforced that ILTM is the only truly global business-to-business luxury travel show and are in a unique position to provide acute insights into the evolving industry.”

“Our aim is to carefully control the growth of the show to ensure we maintain the excellent quality of attendees each year. Ultimately this will result in a one to one ratio of buyer to exhibitor at ILTM. We carefully select newcomers from a huge number of applicants, ensuring only the very top-end suppliers are represented,” she added.