Mastercard has refreshed its Affluent platform in Asia Pacific with an elevated suite of premium dining and travel rewards and services.
Available exclusively for Platinum, World and World Elite Mastercard consumer creditcardholders in the region, Mastercard now provides enhanced value, catering to the evolving desires of Asia Pacific’s burgeoning Affluent population.
An international hub of enriching cultures, experiences and opportunities, Asia Pacific’s state-of-the art business facilities and iconic travel destinations make it the perfect place for Affluent consumers to live, work and play. According to the Mastercard Global Destinations Cities Index, half of the world’s top destination cities are in Asia Pacific, making it a prime stop for relaxing holidays, exciting events and global business.
With consistent economic growth and rising spend power, Asia Pacific’s Affluent consumers are exerting greater influence on global commerce directives and marketing efforts than ever before. By 2020, Asia Pacific will have the largest population of high-net-worth individuals (HNWI), with an expected annual growth rate of 10.3 percent in 2017. In 2015, Asia Pacific surpassed North America as the region with the highest HNWI wealth of US $ 17.4 trillion.
These shifts have redefined the lifestyles and spending priorities of Asia Pacific’s Affluent consumers. According to Mastercard Head Consumer Credit Asia Pacific Jenn Ong, Asia Pacific’s Affluent consumers are highly sophisticated and discerning, preferring experiential luxury over material possessions.
“Growing in affluence and influence, Asia Pacific’s consumers are shaping the notion of what luxury means today. Our insights, mined from card spend, travel patterns and consumer journeys, give us a deep understanding into the Affluent consumer and their greatest passions,” said Ong.
“Our latest research found that social activities, such as overseas holidays and fine dining with loved ones are some of the key priorities amongst consumers in the region. These learnings are especially crucial as we build compelling offers, as part of our commitment to provide cardholders with superior value,”
As part of the refresh, Mastercard’s revitalized programme ushers in a comprehensive suite of benefits around its core consumer passion pillars: Travel, Dining and Peace of Mind. Whether it’s residing at one of Asia Pacific’s most luxurious properties, savouring a curated degustation dinner, or recharging in the comfort of a private lounge, Mastercard’s refreshed programme provides cardholders with an elevated level of convenience and luxury and connects them to the most priceless entity: quality time.