Yahoo Finance Luxury travel trends 2024: How to book your next holiday
Judging by the sheer number of luxury hotels and resorts opening around the world – from the forthcoming Emory (sister to Claridge’s) in London to Soneva Secret in the Maldives – high-net-worth pleasure seekers are an unstoppable force. In 2023, Grand View Research estimated the global luxury travel market to be worth US$1.37 trillion – and it’s expected to continue to grow at a compound annual growth rate of 6.7% from 2024 to 2030.
As the founder of travel trend forecasting agency Globetrender, it’s my job to accurately predict what’s coming next, whether it’s trips to balloon flights to the stratosphere (yes, really) or the rise of immortality retreats. In our recent trend report “Travelling with Purpose: Milestone Motivations + Luxury Travel Trends”, which we produced in partnership with tailor-made holiday specialist cazenove+loyd, we revealed some of the luxury travel trends 2024.
Five luxury travel trends 2024
Pioneering Safaris
With conservation high on the agenda, Pioneering Safaris are designed to benefit (rather than exploit) the wildlife and ecosystems they are located in, and are inviting intrepid travellers to venture deeper into remote territories such as Gabon, Mongolia and Botswana.
Always ahead of the curve, innovative hotel designer and environmentalist Bill Bensley is opening his next property in the Republic of Congo (a safe wilderness beside the Democratic Republic of the Congo), where guests can spend time studying gorillas and elephants. Described as Bensley’s “greatest challenge yet”, the multimillion-dollar Kozala Zamba Congo retreat will take the form of a series of tented camps and lodges “nestled in the very last pristine forest on Earth”, when it opens in late 2024 or early 2025.
Carpe Diem Celebrations
Whether friends and family are looking to host a milestone birthday or anniversary bash, a honeymoon or wedding, demand for exclusive-use villas, mansions, castles, yachts and even private islands are on the up. By booking a takeover, guests never need to worry about keeping other guests awake at night with their festivities and have free rein to design exactly the party that they want.
Fortunately, there is no shortage of new inventory arriving in the luxury travel market. House Martin on Kenya’s Lamu Island became available to rent this year and cazenove+loyd is one of just two companies that can provide access (bookings cost from US$4,550 per night with a five-night minimum stay). Meanwhile, in Turks and Caicos, the three-bedroom Boat House on Pine Cay has been given a full renovation and is available from US$15,000 per week.
Karen Chapman, Destination Expert – Latin America, Caribbean and the Polar Regions for cazenove+loyd, says: “Designing dream destination celebrations is one of our secret skills. The ultimate location for a milestone celebration must be Brazil. From buzzing Rio to miles of glorious emerald coastline, you can have it all.”
Transitory Exploring
A form of slow tourism that shuns flights, Transitory Exploring sees nomadic luxurians embrace trains, RV road trips and boats on overland and oversea adventures that prioritise the journey, rather than the end-point destination.
Central to cinematic Transitory Exploration will be incredible transport. Belmond’s Eastern & Oriental Express is set to return in February 2024 with two seasonal sleeper train routes out of Singapore and through Malaysia. For the first time, the Venice Simplon-Orient-Express, A Belmond Train, will connect Paris and Portofino in June 2024. And after operating its first journey through the French Alps in December 2023, it will conduct the same winter route in December 2024.
Radical Sabbaticals
Sabbaticals traditionally last up to a year but “Radical Sabbaticals” can be achieved in a few weeks. The idea is that they are hyper-focused and intentional, and allow for deep rest or accelerated change, whoever you are, and whatever life stage you are at. As the demand for career or life breaks with purpose increases, extended itineraries that focus on specific intentions are becoming more relevant than ever before.
There are many places to take a “life-altering break from the norm”, but perhaps none so mind-blowing as the Aerial BVI in the British Virgin Islands. Here, self-made millionaire Britnie Turner hosts intensive, five-day themed “Elevate Summits” throughout the year, inviting people to discover how to achieve “whole life success” by generating immense wealth (“Abundance” – February 2024), becoming physically and mentally stronger (“Strength” – August 2024), and building better relationships (“Love” – October 2024). You can read more about the Aerial BVI on City AM.
Paradise Camps
Families looking for the ultimate Robinson Crusoe experience are heading to private islands and lodges to help teach their children about the natural world, in a utopian environment. For high-net worth Millennial parents of Generation Alpha (aged 0 to 12 in 2023), travel is increasingly being used as a way of expanding the minds of their offspring and providing them with educational opportunities they wouldn’t get in the classroom.
The Maldives is an obvious hotspot for Paradise Camps. In 2023, island wellness retreat Joali Being launched its “Joy of Being” children’s programme for the school holidays, with the intention of helping kids disconnect from technology, and learn about sustainability and wellness.
Alternatively, Cazenove+loyd can organise a ten-day private retreat on Thanda Island in Tanzania for £36,690 for a family of 12, – the itinerary can include deep-sea fishing, sailing on the resort’s 36ft adventure yacht and whale shark excursions with a personal marine biologist.
