High-end travel continues on its steep upwards trajectory, with luxury travel advisor network Virtuoso reporting a massive increase in business, particularly in the accommodation and cruise sectors.
In the first half of 2023, Virtuoso saw a 69 per cent rise in overall sales compared to 2019, with hotel and cruise transactions growing 173 per cent and 122 per cent respectively.
Gathering data from its global advisor network, preferred partners and customer base (worth around $63.6 billion in transactions) along with a series of surveys, Virtuoso revealed its findings at the 35th annual Virtuoso Travel Week in Las Vegas.
Luxury trends
According to Virtuoso data, the biggest luxury travel trends include “exclusive-use experiences, such as private aviation and yachting”, and itineraries that include “next-level stimulation and engagement” like scientific trips in Antarctica.
Ever-present but more pronounced since the pandemic is the customer’s desire for “genuine, personalised service” and a willingness to use a travel advisor for reassurance, accountability, speed, and to get the experiences they want.
In a recent Virtuoso study, three in five (57 per cent) luxury travellers said that “creating a travel experience that best fits my expectations is more important than price”.
According to the research, this demand for custom travel is especially true for travellers from Australia, China and Hong Kong, among other markets.
Food for thought
Wining and dining remain top priorities for travellers, with seven in ten (70 per cent) Virtuoso advisors experiencing an increase in culinary travel, and two in ten (20 per cent) clients booking trips with food and wine as the main focus. Nearly half (47 per cent) of those customers spend between a massive US$10,000 and US$25,000 per trip.
Top culinary experiences include brewery or distillery visits (88 per cent), street food (60 per cent), culinary-themed tours (58 per cent) and celebrations with family/friends (57 per cent).
Notable food destinations for luxury travellers include Portugal, Copenhagen, Croatia and Colombia.
Wellness warriors
Virtuoso research also shows the vast majority (94 per cent) of luxury travellers are seeking wellness experiences, with Iceland, Thailand and Fiji among the notable destinations in this segment. Nearly half (47 per cent) of those seeking wellness activities spend between US$5,000 and US$10,000 per trip.
Emerging experiences in this sector include creative and performance art (44 per cent), sleep programs (34 per cent) and sustainable wellness (34 per cent).
Overall, 37 per cent of Virtuoso clients travel for cultural reasons, 34 per cent look for adventure, and 16 per cent seek expedition travel.
For more information on Virtuoso, visit www.virtuoso.com.
