Key Trends in Luxury Travel (2024)

Key Trends in Luxury Travel (2024)

Summary

This analysis looks at the luxury sector within the tourism industry. Covering key trends, destinations and the opportunities and challenges the industry might face.

Key Highlights

Personalization often goes hand in hand with premiumization. With the wide variety of tourism offerings, high-yielding travelers are likely to be attracted to offerings that are tailored to their needs and offer unique experiences.
The total hotel revenue for luxury hotels in the US increased by 24% from 2022 to 2023. This is a significantly higher percentage increase than the US budget hotel sub-sector, which experienced a YoY revenue increase of 15%.
In 2023, with the aftermath of pandemic driving the shift towards remote and hybrid work, there has been a surge in demand for high-end accommodations and workspaces that cater to the needs of digital nomads.

Scope

This report provides analysis of key market trends in the luxury tourism industry. Major key destinations are analysed, along with an analysis of travelers to provide valuable insight. Challenges along with opportunities in the industry are explained.

Reasons to Buy

Gain an understanding of luxury tourism
Gain an insight into the luxury travelers
See which are the key destinations
Learn about the key trends in the luxury tourism industry