Elevating the New Luxury Travel Experience

January 2024

The luxury travel landscape has been transformed, driven by digital and sustainable innovation, changing consumer values and wealth expansion. It is vital to understand the new face of luxury travellers that is ever-more diverse, demanding and younger. Looking through the lenses of lifestyles and values, purpose and wellness, we highlight what matters most where hi-tech and high touch are the new gold standard for luxury, delivered seamlessly with empathy, offering exclusivity and authenticity.

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Key findings

Diversity in luxury

Luxury travel takes many forms, encompassing a myriad of travel experiences from private jets, yachts, expedition cruises, tented safaris to wellness retreats, whether extravagant ultra luxury or quiet understatement. Luxury Seekers are also more diverse, younger and from emerging markets, requiring an inclusive approach by luxury travel brands to foster a sense of belonging.

Hi-tech, high touch

Luxury Seekers are not just wealthy, they are the most digitally-savvy travellers, demanding a seamless and personalised service, while seeking expertise gained from engaging with real people. Adopting cutting-edge technology such as Generative AI for service delivery is critical, while elevating the human touch through impeccably trained local employees.

Home from home

Hospitality is the new battleground for luxury brands where lifestyle brand extensions continue to be popular, and hoteliers equally look for complementary verticals such as real estate and residences as the blended travel/digital nomad trend opens up new revenue opportunities.

Act with purpose

Luxury travel is much more carbon intensive than mass travel with a larger footprint. Luxury travel brands must act with purpose to protect the environment, local communities and biodiversity. Accepting responsibility to leave a positive legacy for future generations should be integral to all luxury brands’ values. It is time to declare a climate emergency, and work towards certifiable and measurable targets. Luxury Seekers can and will pay more for sustainability.

Holistic hacks

Holistic wellness is increasingly the default for luxury travel, embracing physical, emotional and dietary requirements, personalised thanks to the latest diagnostics technologies for biohacking. Luxury travel brands can empower their customers to live their optimal life and build lifelong emotional connections, drive brand advocacy and repeat custom.

Scope
Key findings
Meet the new Luxury Seeker that is highly empowered, loyal and digitally savvy
Highly experiential Luxury Seekers prefer the real world where authenticity is key
Yet, luxury travellers are more diverse, going beyond pure Luxury Seekers
Luxury traveller segments - emerging markets lead the way
Luxury Seekers: Shifting eastwards to India, Saudi Arabia and the UAE
Diverse mix of source markets required - Middle East and Asia Pacific offer growth potential
Top destinations enjoying the highest average spend per international arrival
Beyond the stereotypes: The fresher face of luxury travel demands faster digital adoption
Prioritise relaxation, wellbeing and immersive local experiences to target Luxury Seekers
Luxury brands should create opportunities for Luxury Seekers to celebrate their uniqueness
Luxury Seekers look to travel for building family bonds and shared experiences
Luxury leisure travel: International is the priority but do not forget domestic
Luxury hotels show greatest resilience and revenue opportunity
Luxury hotels target bright spots in the Middle East/Africa and Asia Pacific
Global luxury hotel chains enjoy increasing consolidation with future deals to come
Luxury experiences and lifestyles offer untapped opportunities beyond travel
Tourism spending on luxury goods remains low, but creeps closer to pre-pandemic levels
Exploring new horizons for luxury brands to venture into home, hospitality and lifestyle
Rise of luxury residences and digital nomadism create a whole new channel for luxury travel
London-based luxury hotels set whole new standard for branded residences and luxury living
Gen Z and blended travel boom drive opportunities in luxury lifestyle categories
Luxury lifestyle extensions to help sustain growth while tapping into new pockets of wealth
Substantial wealth generation unlocks prospects and pushes boundaries of standard hospitality
Lifestyle extensions to provide untapped revenue and brand equity for luxury players
Saudi Arabia: Creating a new global luxury destination to explore
Luxury resort Ahau Collection introduces new NFT loyalty scheme to attract Gen Z
Dolce & Gabbana takes brand to the next frontier by moving into real estate development
The Other House offers “luxury residents” a pied-à-terre for the hybrid worker
How to win by appealing to Luxury Seekers’ values and lifestyles
Align values with purpose and impact or face a boycott
Consumers’ climate change fatigue requires companies to make sustainability the default
Luxury air travel’s significant carbon footprint needs addressing
Luxury Seekers willing to pay more for sustainability so showcase credentials…
…yet luxury destinations’ positioning does not always translate into sustainable offer
Fly Victor first and only on-demand private jet charter to credibly offer SAF for every booking
Iberostar: Setting the gold standard for decarbonising luxury hospitality
Journeys With Purpose offers transformational luxury travel experiences
How to win in appealing to Luxury Seekers through purpose and positive impact
Holistic wellness becomes a must-have luxury travel offer, delivering incremental benefits
Integrated wellness in Asia Pacific sets the standard , embracing tradition and science
Meet the Wellness Worshipper - focused on self-optimisation
Matching destinations with Wellness Worshippers’ demand
Rising interest in a holistic approach to health fuels demand for luxury wellness propositions
Cutting-edge luxury wellness clinics, spas and medical tourism continue to rise
Bio-hacking, longevity and integrative medicine arrive at Six Senses Ibiza with the RoseBar
Aromatherapy Associates combines emotional and physical wellness solutions
Lanserhof : Naturopathy meets cutting-edge medicine for urbanites and wellness worshippers
How to appeal to Luxury Seekers and Wellness Worshippers’ desire for personalisation
Key takeaways in how to elevate the new luxury travel experience
Call to action for luxury travel brands to ensure success

Travel

Travel encompasses several categories including tourism flows, lodging, travel modes, in-destination spending and booking.

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