Mexico, Canada top destinations for money-no-object Americans: study
A beach in Mexico is pictured. (shalamov/Istock.com)
Published Saturday, January 23, 2016 12:27PM EST
Last Updated Saturday, January 23, 2016 12:29PM EST
Mexico is the preferred destination among the ranks of America’s richest travelers, for whom money is no object and the world is at their well-heeled, designer-clad feet.
That’s according to the results of a new study that looked at the travel trends of the richest one percent of Americans.
For the report, international travel and tourism consultancy group Resonance Consultancy analyzed data from more than 1,660 travelers with a household income of at least $200,000 USD or a net worth of $2 million.
Compared to the average American traveler who takes about five trips a year, the top five percent of richest Americans take about 14 trips a year, divided roughly between business and leisure trips.
Likewise, while the typical traveler will spend an average of $1,347 per person, per vacation, the affluent traveler will spend about $3,115.
With that kind of budget, that means reserving stays at high-end hotels such as the Four Seasons and Hilton, which are the preferred brands of the wealthiest one percent.
And while the middle-class and more budget-conscious traveler may spend hours on end shopping for flight and hotel deals online, analysts found that wealthy travelers are more likely to book directly with a hotel or airline.
Here are the top 10 travel destinations among America’s top one percent:
1. Mexico (26%)
2. Canada (24%)
3. Italy (24%)
4. England (22%)
5. France (22%)
6. Germany (14%)
7. Bahamas (14%)
8. Anguilla (13%)
9. Australia (12%)
10. U.S. Virgin Islands (11%)