ILTM Asia will become ILTM Asia Pacific and move to Singapore in 2018.
The newly rebranded event will take place from May 21st-24th at the Marina Bay Sands Hotel.
A new event, ILTM China will remain in Shanghai in October 2018, to be re-focused for buyers and planners of outbound luxury travel from China.
The changes were announced at the ILTM Asia 2017 Opening Forum in Shanghai by ILTM portfolio director Alison Gilmore.
She commented: “Research among our clients shows that the luxury outbound market is growing so fast that many companies are now separating their current and future business plans and marketing strategies to focus on China and Asia as two independent opportunities.
“ILTM has listened and is responding with two dynamic events dedicated to their own audiences.”
ILTM Asia Pacific will be re-positioned to represent the whole of Asia, bringing more international buyers, similar in context to ILTM in Cannes.
“We will create the show to be as international as Cannes, with the same ambiance, story and stature but set in the dynamic heart of Asia – Singapore - considered to be both the region’s gateway and its hub,” continued Gilmore.
Asia Pacific surpassed North America for the first time in 2016 to become the region with the largest amount of high net worth wealth, as reported by World Wealth Report 2016.
By 2025, the report states that Asia-Pacific’s high net worth population would more than double to 11.7 million individuals.
Luxury travel is outpacing ordinary travel in Singapore, Thailand and the Philippines and ILTM Asia Pacific will now focus on this growth, collectively bringing together international and regional luxury travel suppliers to boost and build their businesses from this dynamic region.
Regarding ILTM China specifically, Gilmore commented: “ILTM China will remain in Shanghai and be repositioned specifically to bring Chinese luxury travel planners and buyers to meet with international exhibitors of luxury products and services.
“Every year we see a big increase in the number of Chinese luxury travel planners wanting to attend ILTM and with this new style of event we can focus on this market solely.”