What Are Major Trends in Luxury Travel?

Luxury travel has grown in popularity in recent years, with the sector’s boom expected to continue this year. So what are the major trends in luxury travel?

We put the question to Ask Skift, our artificial intelligence chatbot. Ask Skift used information that appeared in our past news coverage and research and we also conducted additional reporting.

Ask Skift said:

Based on recent articles from Skift, some of the major trends in luxury travel include:

Increased Interest Among Younger Travelers: There’s been an influx of younger travelers in the luxury segment due to increased wealth among these demographics.

Emphasis on Time and Wellness: Luxury travel is evolving to focus more on how travelers choose to spend their time, with a significant emphasis on family and wellness.

Group Travel and Exclusive Experiences: Group travel bookings, particularly for small groups on private yachts, are predicted to be popular. Moreover, there’s a growing trend towards exclusive, passion-centered experiences.

Exploration of Less-Known Locations: Luxury travelers are showing interest in visiting largely unexplored locations, with tour operator Black Tomato noting increased interest in lesser-known areas in Peru.

Remote Destinations and Digital Nomadism: There’s a substantial interest in digital nomadism and demand for remote destinations.

Increased Spending: Luxury travel planners are seeing an uptick in bookings, with more than half of Virtuoso’s network of luxury travel advisers estimating their clients will spend more on trips this year.

What else you need to know:

Skift founder and CEO Rafat Ali said that loneliness, which he called “one of the biggest, fastest-growing crises in the world,” would result in luxury travel seeing an increase in solo travelers.

So travel brands specializing in luxury are looking tap into the growing segment. Cruise line Crystal Cruises has launched a product called Sail Solo in Style, which features Abercrombie & Kent-curated shore excursions geared toward solitary adventurers as well as single staterooms and suites.

Hotels have gotten are also looking to get into the act as well. Mexico-based four-star all-iclusive resort Grand Velas Riviera Maya debuted last July the Solo Travelers Experience, which includes swimming with marine turtles and a tour in a cenote. Grand Velas joins the likes of Saint Lucian resort BodyHoliday, which runs a retreat each September called September Solos that offers a series of health and fitness classes to guests staying in Single Garden rooms or paying for Single occupancy in a double room.

Luxury travel is also expected to see a continued surge in private jet bookings. New York-based travel agency First in Service said private jet bookings were up 12% in 2023 compared to the previous year while business class ticket bookings were up 18%, according to a recent sruvey of travel advisors.

And the ultra-wealthy has show an increasing willingness to splurge on travel. Tour operator cazenove+loyd said last year it had seen a 50% in trips costing more than six figures in the previous 12 months. In addition, London-based tour operator Untold Story Travel said it saw a 50% year-over-year jump in six-figure bookings. Roughly 40% of Untold Story Travel’s bookings now run more than six figures.

Regardless of how much people are shelling out for their trips, a large number of them are looking to travel with family and close friends. A survey by luxury travel advisors at Embark Beyond found that 61% of Americans are interested in traveling with extended families or a small group of friends in 2024.

Photo Credit: Luxury travel has grown coming out of the pandemic.