It’s no secret that MAIA loves luxury travel. From energizing island getaways to urban escapes, we are passionate advocates for seeking out the most exquisite destinations our world has to offer.
Year-on-year the luxury travel industry gains greater momentum, with more and more people wanting to stay, play and explore in style. In fact, the industry reached a value of USD 1.20 trillion in 2021, with a projected annual growth rate of 7.6% until 2030. And 2024 is set to reach an all-new luxurious peak.
Here are five key luxury travel trends to look out for in 2024.
The past two years have been filled with revenge travel, particularly for luxury travellers making up for lost time. But 2024 will welcome a much-needed change of pace.
Slow travel is on the rise as people begin to prioritise a less frantic pace of life and more time for leisure. Travellers within the luxury space are looking to use their holidays as an extended escape with lengthy stays in private villas, resorts or luxury hotels across the globe.
In 2024 and beyond, luxury travellers will be jet setting with people and planet in mind. A recent Virtuoso survey revealed that 74% of travellers are willing to pay more to travel sustainably if they have transparency on where their money is going. There is an expectation for luxury hotels to breathe sustainability into everything they do, which includes minimising water use, finding alternative energy solutions, and effectively managing waste.
Authenticity is another luxury travel trend on the rise in 2024. Rather than remaining cocooned in a hotel or resort, travellers embarking on luxury trips want to connect with the communities of the destination they are visiting. One of the best ways to do this is by embarking on an Indigenous-led travel experience.
Tour companies owned and operated by Indigenous peoples is on the rise in countries such as Canada, the United States, Australia and New Zealand, where interest for the culture, traditions and age-old wisdom held by their Indigenous communities has taken flight. From sitting down with elders to learn about their sacred connection to the land to luxury hotels featuring artwork and design elements by local Indigenous artists, the emergence of this travel trend is expected to surpass US$ 65.16 billion by 2032 – a sum that will greatly help preserve the often vulnerable and dwindling Indigenous communities of the world.
A phenomenon that blossomed post-pandemic, transformational travel speaks to those looking for meaningful travel experiences in 2024. It is a concept that invites travellers to dive into life-changing journeys – be it wellness escapes, leadership retreats, or nature immersion (with a touch of luxury, of course) – and fosters the idea of traveling with intention.
Food often weaves its way into the highlights of holidays and is set to be a top luxury travel trend in 2024.
Luxury travellers are no longer only yearning for tables at those hard-to-get-into, talk-of-the-town restaurants – they want to enjoy curated, immersive culinary experiences wherever they go. From making pasta with nonnas in an Italian village to behind-the-scenes tours of renowned kitchens, high-flying travellers are craving distinctly different (and delicious) food and drink experiences.
Affluent travellers will be saying ‘why not’ to bucket-list travel experiences in 2024. Whether its luxurious train journeys, splashing out on a private yacht charter, or embarking on a science-focused expedition cruise (Virtuoso are predicting big things for this travel trend), the time has come to book that once-in-a-lifetime trip.