ICYMI, Virtuoso’s global Luxe Report, is back for the first time in four years! While most reports look behind us, the Luxe Report looks forward and gives us an insightful look into the specific preferences of Australian luxury travellers.
In a constantly evolving world, one thing is clear: the desire and demand for unparalleled experiences and meaningful connections remain a constant for our high-value travellers.
With more than 300 Virtuosos in the region contributing to the findings, the Luxe Report sheds much-needed light on the evolving landscape down under. It reveals a fascinating highlight: a heightened focus on how and with whom we spend our time.
Virtuoso advisors note that their clients are undeterred by global unrest and inflation and are more eager than ever to fulfil their travel aspirations. In fact, over 40 per cent of advisors surveyed anticipate an increase in travel demand and spend per trip in the coming year.
The Luxe Report highlights five key trends shaping the travel preferences of our upscale Aussie globetrotters in 2024:
- New Frontiers: luxury travellers seek the unexplored, moving beyond the familiar European destinations. Whether driven by dreams born from the pandemic or the ambition to be first, culturally rich spots like Japan and Morocco are gaining favour.
- The Party Continues: Celebration travel takes the spotlight as delayed festivities are finally realised. Both immediate and multigenerational family travel is increasing, emphasising the importance of sharing life’s milestones in exotic locations.
- Honouring the Earth: A growing awareness of the earth’s fragility amongst luxury travellers has inspired travellers to push the geographical boundaries. Destinations like Greece and Hawai’i are chosen for their beauty and to support economies recovering from natural disasters.
- Small Ships, Big Possibilities: Intimate settings are favoured overcrowded ones, with small vessel cruising continuing to rise in popularity. Cruising the Danube, the Mekong and the Nile, and expedition cruising to destinations like Alaska and Antarctica, tops the trends list.
- At Ease: Turbulent air travel and lingering restrictions have demanded custom, hassle-free trips. From private jets and yachts to exclusive use experiences, high net-worth travellers seek comfort and control, relying on professional travel advisors to streamline the process.
While Italy remains a perennial favourite, the Luxe Report also revealed that Croatia was gaining favour, with Japan leading the list of re-emerging destinations that capture luxury travellers with its refined culture and cuisine.
France in 2024 will be popular too, however, the heavy foot traffic of the Olympics over summer may mean many Aussies avoid the area during the height of the competition. No doubt, given the many Francophiles we have in Australia, it won’t be long!
For more information, visit virtuoso.com