ALTM 2008 serves dynamic growth of luxury travel industry

SHANGHAI – Asia Luxury Travel Market (ALTM), the region’s only event exclusively for the luxury travel industry, will play a significant role in shaping the nature of the luxury travel industry in this region, which is currently experiencing unprecedented growth.

Although the World Bank states economic growth will slow as the credit crunch hits the richest nations, it believes the resilience of many developing nations, such as those in the Asia Pacific, will cushion the slow down and the number of high net worth individuals and their desire and ability to travel will continue to grow.

The Asia Pacific market now has 2.3 million high net worth individuals which is equal to the USA and accounts for over 50% of the consumption of the US$80 billion global luxury goods and services industry.

China is already the world’s fourth largest economy and is growing at a much faster rate than markets such as Korea and Japan did at the same point in their history.

Most of the world’s top sellers of luxury travel who attended the three-day invitation-only gathering have already signed-up for ALTM 2008 and another 1,000 sq m of exhibition space has been added to fulfill demand.

Many new exhibitors will be joining the show this summer, including Intercontinental Hotel Group, Lucien Barriere Hotels & Casinos, The Rocco Forte Collection, Warwick International Hotels, Turisme de Catalunya, Conde Nast Johansens, Silversea Cruises, Tahiti Tourisme and a strong delegation from Japan.

The majority of VIP Buyers who attended ALTM 2007 have committed for the 2008 event; amongst them representatives from Virtuoso Australia/New Zealand, American Express Asia Pacific, Quintessentially, Ten Lifestyle Management, as well as many independent travel organisers catering for niche luxury travel.

ALTM 2008, organised by Reed Travel Exhibitions, will be held in Shanghai from June 16-19 at the Shanghai Exhibition Centre.