From our Luxury Travel Market Segmentation blog post, you already know that this sector is expected to reach $1.154 trillion in worldwide revenues by 2022. This time around, we’re exploring the luxury travel industry trends fueling this exponential growth and reporting on the seven you need to know right now…
Trend 1: Luxury for good
Over-the-top consumption and the acquisition of luxury goods is so 20th century. For 2018 and beyond, wealthy travelers are putting their dollars behind brands that make the world a better place. A perfect example of this in the travel space is Nekupe, a luxury resort owned by the founders of the American Nicaraguan Foundation (ANF), an organization with the mission of alleviating poverty and building sustainable livelihoods for the country’s poor.
Trend 2: A taste for adventure
Adventure travel doesn’t mean you have to jump off a cliff with your hair on fire (see our blog post on soft vs. hard adventure). According to Virtuoso, 95% of their specialists have seen an increase in active, adventure and specialty travel sales. Everyone from millennial honeymooners to go-get-’em families to sassy seniors are hiking, biking, kayaking (and much more) in Iceland, Costa Rica, New Zealand and other thrill-delivering destinations.
Trend 3: Women go solo
We blogged about the rise of solo travel last year. Now, more and more female travelers are going it alone, as evidenced by the 100,000,000+ times Google was searched for “female solo travel” at the beginning of 2017. Booking for one allows women to forge a deeper connection with a destination and uncompromisingly do exactly what they want, when they want. You go, girls!
Trend 4: Private jets—the new first class
When seats slightly more spacious than coach just won’t cut it, the travel elite take to the skies in private jets. But they don’t need to have their own G6 parked in the garage. Upscale travel providers such as Abercrombie & Kent, Four Seasons Hotels and Resorts, Luxury Retreats and even National Geographic offer this service for privileged jet-setters.
Trend 5: Getting schooled in something cool
Would you rather lay on a sandy beach or learn to dive in the Caribbean? How about both? Luxury travelers are now making an enriching experience an important part of their vacay. So go earn that PADI Open Water Diver certification in unbelievably turquoise waters. Then celebrate by baking in the sun the next day of your tropical getaway.
Trend 6: Just like a local
Airbnb tapped into something powerful with their “Don’t go there. Live there.” campaign in 2016. Because luxury travelers don’t want to experience a destination like tourists—they want to live it and breathe it like a local by immersing themselves in the culture, speaking the language, exploring the neighborhoods and interacting with those lucky enough to live in such an interesting dot on the globe.
Trend 7: Leaving a gentler footprint
Successful destination marketing has made overtourism a thing. So responsible luxury travelers are doing their part by seeking out small, independently owned accommodations, attractions and restaurants to infuse more money into local economies. Or even foregoing the most popular locales (think: Rome and Barcelona) entirely for destinations less densely traveled.
Of course, you don’t need to have a glamorous resort, premier destination or top-of-the-line tour operation to take advantage of these seven luxury travel industry trends. Contact Lynn Kaniper at 609.466.9187 ext. 117 or firstname.lastname@example.org to learn how our team can leverage all the latest trends and tools to boost your brand’s bottom line.