What’s hot in luxury this summer, Virtuoso has the answers

Virtuoso’s data warehouse contains information on transactions worth $63.6 billion. This analysis has revealed the top destinations and trends for summer and beyond.

The report says that luxury travellers will make some surprising choices as they try to shake off the inflation and find new experiences, cultural immersion and ways to beat heat and crowds.

What’s more, Virtuoso found that they’re willing to pay to get exactly the experience they want. From refreshing coolcations and riding the wave of the cruise industry’s newest ships to itineraries and embracing sustainable and adventurous travel choices, the common thread is that they’re turning to the guidance of professional travel advisors.

Virtuoso’s ‘Hot 10’Destinations based on the highest percentage of bookings year-overyear for summer 2024 include:

1. Thailand (+162 percent)

2. Japan (+126%)

3. Anguilla (+70 percent)

4. Singapore (+52 percent)

5. Belgium (+50 percent)

6. Bermuda (+50%)

7. Iceland (+49%)

8. Saint Barthélemy (+49 percent)

9. Sweden (+47 percent)

10. Netherlands (+33 percent).

Virtuoso says that travellers are returning (to Asia, which has 3 countries ranked in the top 10), as they seek cultural experiences, hospitality, and service.

Virtuoso’s survey found that many well-traveled people are still heading to Europe this summer. “but are foregoing traditional favourites to beat the heat and the masses, opting instead for the cooler climes of the north.”

And there’s no doubt that the cruise industry is heating up. Recent survey of Virtuoso Advisors found that 58% believe cruising will be the largest tourism sector in 2024-2025.

Premium Ocean is the category with the most anticipated bookings at 34%. Luxury Ocean is at 27%. River at 22%. And Expedition at 15%.

The industry is undergoing some major changes. These include a focus on destination immersion, with more nights spent in port or on land, cruising in cold climates such as Alaska, Antarctica and Arctic and an increase in female solo cruisers. With new cruise lines, including those that more closely mirror hotel stays, and vessels joining the market, there’s an option to suit every traveler.

Of note as well is that according to the Virtuoso Brand & Traveler Trend Tracker Study — a proprietary Virtuoso survey of high-value travellers across 15 countries conducted by YouGov — the current travel landscape is evolving.

In 2024 Millennials and Gen Z will significantly increase their travels. Meanwhile, demand for travel by Gen X, Boomers and Gen Y will remain stable.

Sustainability is a trend that younger travellers are embracing. They prioritize travel experiences which promote environmental responsibility and benefit the local community, and are willing to spend more money for them.

Millennials, and Gen Z, are also twice as likely to engage in social impact or adrenaline-rush activities. This shift is evident even on board. Fifty-nine per cent of Virtuoso advisers have noticed a shift in demographics within the cruise industry. 36% attribute this to an increase in bookings by Millennials and Gen Z.

Travel plans – whatever their destination, size or length of stay – are improved with expert guidance. Experts can help travellers navigate chaotic airports and flights, understand complex travel insurance policies, gain access to one of the busiest seasons for travel, and create tailored, unique experiences.

And the demand is still strong: Virtuoso’s global sales between January 2024 and April 2024, for travel in the years 2025 and 2026, are up 49%. Future sales of cruises are up 52% when compared with transactions made in the same time frame in 2023, for travel in the years 2024 and 2025.

Hotel average daily rates continue to increase, with rates up nine percent this summer compared to the previous year. The peak is in July, when rates exceed $1,750 per day. Globally, the average booking window has increased 10% to 112 day. Early planning allows travellers to benefit from the invaluable advice of a Virtuoso Travel Advisor and ensures that they get the best hotel and room categories.

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