Can we finally say arrivederci to the “staycation”? Is international travel being restored to its previous glory? Earlier this year, Virtuoso® released its Virtuoso Luxe Report, forecasting luxury travel trends for 2011. Among its predictions were the demise of the staycation, a rebirth in international and multi-destination travel and growth in luxury cruise and active/adventure travel segments. Family and multi-generational travel take the lead as the emerging trend for 2011 with Italy and Maui clear winners as most popular international and domestic destinations. Citing a 36% increase in client travel purchases from 2009 to 2010 (with luxury international vacations leading the way), Virtuoso certainly has backup for its trend report.
So, are the tides (and trends) turning for luxury travel? For a midyear check-in, scan “The Future of Luxury Travel, A Global Trends Report,” preliminary research presented at ILTM (International Luxury Travel Market) Asia 2011 in June. Key insights:
- Luxury travel is coming back—but the importance of value, discreet service and simplicity demonstrate that luxury travelers haven’t forgotten lessons learned over the past few years.
- To counter our growing appetite for technology, luxury travelers will seek more fulfilling personal relationships with travel providers.
- Emerging destinations, which satisfy the hunger for authenticity and exclusivity, top “must-go” lists.
- Look to the Chinese market to drive the next wave of global luxury travel. (By 2020, expect over 100 million outbound tourists from China.)