Mexico, Canada top destinations for America's richest travelers: study

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.

See Full Article

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%)



Advertisements

Latest Economic News

  • Head of NEB welcomes overhaul recommendations

    Economic CTV News
    CALGARY - The head of the National Energy Board says the proposed overhaul of the federal regulator will make it more suited to the challenges of the 21st century. Speaking at the sidelines of an industry safety workshop, NEB chairman Peter Watson says recommendations last month by a modernization panel could fix some of the limitations of the regulator and help it keep up with the times. Source
  • Boeing seeks delay in duty ruling on petition against Bombardier

    Economic CBC News
    Bombardier may have to wait an extra two months to find out if its CSeries commercial jets will be hit by punishing U.S. duties. Boeing has requested that the U.S. Commerce Department delay its preliminary determination on its petition until Sept. Source
  • Shopify sees big uptick in U.S. job applicants after Trump's election, CEO says

    Economic CTV News
    TORONTO -- Shopify's CEO says it's a great time for Canadian startups to attract talent as the U.S. government is creating an uninviting environment for a lot of people. Tobias Lutke says his company is receiving many more applications from U.S. Source
  • Shopify sees boost in applicants from U.S. after Trump's election, CEO says

    Economic CTV News
    TORONTO -- It's a great time for Canadian startups to attract top talent from south of the border as the U.S. government is creating an unwelcoming environment, the chief executive of Shopify says. "The Americans are doing a really great job of uninviting a lot of kinds of people who otherwise would go there," said Tobias Lutke, who founded the e-commerce platform firm in 2004. Source
  • Ontario proposes banning real estate agents from representing seller and buyer

    Economic CBC News
    Ontario is proposing banning the practice of double ending, in which a real estate agent represents both a buyer and a seller in a transaction. The Liberal government announced its 16-point housing plan earlier this year, with centrepiece planks of a 15 per cent foreign buyer tax and expanded rent controls. Source
  • SEC fraud charges filed against Penn West, three former finance execs

    Economic CBC News
    Two days after changing its name and vowing to put its scandal-tainted past behind it, the former Penn West Petroleum is being hit with charges by the U.S. Securities and Exchange Commission. The SEC charges allege the Calgary-based oil and gas firm and three of its former finance executives participated in a "multi-year accounting fraud" where hundreds of millions of dollars were mislabelled to improve the appearance of its operating metrics. Source
  • Penn West shares plunge after SEC files fraud charges

    Economic CBC News
    Two days after changing its name and vowing to put its scandal-tainted past behind it, the former Penn West Petroleum is being hit with charges by the U.S. Securities and Exchange Commission. The SEC charges allege the Calgary-based oil and gas firm and three of its former finance executives participated in a "multi-year accounting fraud" where hundreds of millions of dollars were mislabelled to improve the appearance of its operating metrics. Source
  • Penn West shares plunge after SEC files fraud charges involving three former execs

    Economic CTV News
    CALGARY -- Shares in Penn West Petroleum dropped sharply Wednesday morning after the U.S. Securities and Exchange Commission announced it had filed fraud-related charges against it and three former finance executives. The Calgary-based oil and gas firm's stock fell by as much as 10.34 per cent, or 18 cents, to a 52-week low of $1.56 after it was briefly halted on the Toronto Stock Exchange for the announcement of the SEC filing. Source
  • Toronto stock index up moderately on broad sector gains, loonie strengthens

    Economic CTV News
    TORONTO - Canada's main stock index is showing moderate gains from a broad range of sectors. The Toronto Stock Exchange's S&P/TSX composite index was up 58.20 points to 15,339.42, after 90 minutes of trading. Source
  • Loonie above 76 cents US as Poloz hints rate hike may be coming

    Economic CBC News
    The Canadian dollar gained three-quarters of a cent and hit its highest level in four months on Wednesday after Canada's central bank head hinted in an interview that rate hikes could be coming sooner rather than later. Source