Mena region leads global growth in luxury travel

Mena region leads global growth in luxury travel

Dubai: The Middle East and North Africa (Mena) region has emerged as one of the main regions driving growth in affluent travel, recording high spending, while also displaying an appetite for sustainable eco-luxury and meaningful cultural experiences.

Mastercard’s latest report, ‘Affluent Travel: A Middle East Perspective’, released during the Arabian Travel Market 2024, unpacks some of the key trends.

The appetite for new experiences in unexplored destinations, micro-trips and ‘bleisure’ will likely drive the growth of the global luxury travel market, which is expected to grow by 7.9% (CAGR) between 2024 and 2030, according to Grand View Research. While the world awaits the emergence of the first trillionaires, high-net-worth travellers contribute approximately 36% of the global spend on travel as stated in a Jones Lang LaSalle study.

“At Mastercard, we are committed to connecting people to their passion for travel. This report gives a great snapshot of how high-net-worth individuals choose to travel, and it’s wonderful to see sustainability, cultural immersion and purpose as key considerations, along with quality accommodation, seamless technology and loyalty benefits. We will continue to harness the power of partnerships with leading industry players to come up with innovative solutions that unlock access to a whole new world of