Luxury Horizons: Unveiling 2024's Travel Trends

Published in November 2023, and produced in partnership with Elegant Resorts (with support from Kerzner International), this report reveals seven trends shaping the future of luxury travel in 2024.

Luxury travel is a hugely significant, growing sector that will almost double in size by 2030, up from US$241 billion in 2022 to US$440 billion at the end of the decade.

This trend report is as much about identifying the changing behaviour, influences and emerging desires of luxury travellers in 2024, as the kinds of opportunities they present for the luxury travel industry going forward.

Together with Elegant Resorts, the trends Globetrender has identified are connected not with survey data, which has limited use for forecasting, but fundamental societal and cultural shifts such as human longevity, the emergence of Gen Z as the most powerful consumer group on Earth, and the under-appreciated power of Gen Alpha children.

Globetrender also shows how the persuasiveness of brand collaboration will be a defining force in luxury travel, how providers are tapping into the deeper human need for personal betterment and why top-end cruise passengers are going to be spreading their wealth on land as well as at sea.

In response, Elegant Resorts has already created two new product lines based on the "Cruise Framing" and "Calendar Curation" trends.

THE 33-PAGE REPORT FEATURES:

• Seven luxury travel trends (names coined by Globetrender): Longevity Escapes, Generational Connections, Cruise Framing, Calendar Curation, Zinfluence Travel, Enrichment Journeys and Designer Collaborations.
  
• Three case studies: Elegant Resorts "Cruise Framing" itinerary; SIRO hotel brand from Kerzner International ("Longevity Escapes"); and Mandarin Oriental + Louis Vuitton partnership ("Designer Collaborations").
• Two Q&As: Lisa Fitzell, managing director of Elegant Resorts; and Philippe Zuber, CEO of Kerzner International.

“The luxury traveller is discerning and has a thirst for new adventures. After the last few years, our clients want to make their holidays more meaningful, make the most of their time with their loved ones, look after themselves and be healthy for longer, ensure every trip matters, enriches their souls, create long lasting memories. Travel is not taken for granted and at Elegant Resorts, we have the expertise and know how to create unforgettable and perfectly curated holidays.”

Lisa Fitzell, managing director at Elegant Resorts

“It has been an absolute pleasure to support and collaborate on the Globetrender 'Luxury Horizons: Unveiling 2024's Travel Trends' report. It goes without saying that these reports offer a great insight into how the luxury travel sector is growing and allows us to build strategic and meaningful road marks to support and align our offerings.”

Craig Jeffs, regional director, sales and marketing, United Kingdom, Scandinavia and Netherlands at Kerzner International

Globetrender is the UK’s leading travel trend forecasting agency.

Our reports are produced by award-winning journalists and forecasters. We identify trends as they are emerging, backing them up with case studies, expertly sourced data and industry thought-leadership to help travel companies shape their product for the traveller of tomorrow.

For collaborations, sponsorship opportunities, bespoke report commissions and consulting services, email editor and founder jenny@globetrender.com

For weekly in-depth travel trend reports – subscribe to our VOLT newsletter.