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8 ways the rich are redefining luxury vacations

29 December 2024 at 03:38
A couple and their children relax by a pool.
Wealthy travelers are starting to spend more on adventurous vacation itineraries and are letting their kids dictate holidays.

AleksandarNakic/Getty Images

  • Traditional luxury vacations are evolving as the travel industry expands.
  • Gen Zers now have more of a say, changing how the wealthy travel.
  • From 'coolcations' to hyper-specific wellness getaways, these are the new trends to know.

Who cares about luxury bags, watches, or coats when you can put that money toward your next lavish trip?

That seems to be the thinking of some wealthy consumers right now, as demand for luxury goods slows, but travel and experiences continue to gain traction, according to Bain's latest deep dive into the luxury industry.

The type of people spending more on travel is also changing. Notably, younger, aspirational travelers are entering the mix. They want to ensure their trips are stress-free, value-oriented, and full of high-end experiences.

With the industry expanding and younger generations coming into the fray, the classic luxury holiday involving lounging around a 5-star hotel by the beach isn't quite cutting it anymore.

Here's a closer look at luxury travel trends that are picking up speed heading into the new year:

Social media is dictating wealthy travelers' itineraries, thanks to Gen Z
A multi-gen family cheers on a boat on vacation.
Luxury travel agents say Gen Z isn't holding back with their family vacation requests.

IPGGutenbergUKLtd/Getty Images

When it comes to luxury family vacations, Gen Z is increasingly calling the shots.

Inspired by social media and what they want to post on their Instagram and TikTok accounts on holiday, younger travelers are becoming more opinionated about the activities they want to do and the destinations they wish to visit.

Julia Carter, the founder of the luxury travel agency Craft Travel, told Business Insider that the phenomenon has become increasingly pervasive. Now, roughly 80% of family trips her company organizes are influenced by Gen Zers, who suggest destinations and activities based on what they've seen on social media.

"It's definitely the hotels that they're most interested in," Carter said. "You can go to London or Paris, but unless you get these money shots, as they say, how do you show that you really did it in style? The hotel is the proof."

Health and wellness are top of the holiday agenda
a couple do yoga on a beach
Health and wellness are high on the agenda of luxury travelers.

Mystockimages/Getty Images

Wellness tourism is growing, and it's getting a lot more specific, according to luxury travel network Virtuoso's 2025 trend report.

From genetic testing and menopause therapy to virility treatments and brain-boosting, luxury hospitality venues tapping into wellness tourism are popping up around the world, the report said.

Slow travel isn't going anywhere
A rendering on a cabin on La Dolce Vita Orient Express.
The Orient Express is staging a comeback amid the continued rise of the slow travel movement.

Courtesy of Orient Express Italy

Black Tomato has also seen demand increase for what it dubs "silent travel," whereby clients who predominantly live in big cities seek intentional, quiet resets away from the hustle and bustle.

These vacations can last as long as a month, aligning with the already popularΒ slow travel movement, which has seen people crave longer and less rushed holidays.

Samy Ghachem, general manager of La Dolce Vita Orient Express, told BI that he calls the movement "slow cruising" and said it originated shortly post-COVID-19.

Since then, Ghachem said: "People have developed an appetite, an interest, a desire to slow down, to increase the quality of the experience, and to appreciate that experience more."

The rich are paying to 'get lost' on vacation
A hiker stands in front of a glacier.
Traveling that involves remote destinations and challenge-based activities is on the rise.

Marco Bottigelli/Getty Images

One of the quirkier trends set to pick up speed is a desire among travelers to challenge themselves in the wild.

As Scott Dunn, a luxury travel agency founded in the UK, reports in its "What's Hot for 2025" report, there's a growing interest in remote experiences with clients seeking "to step out of their comfort zone, and use travel as a medium for discovery, deep immersion and transformation."

Black Tomato offers a "Get Lost" service, where clients are challenged to find their way out of a remote destination while being monitored by a support team.

Travelers who book the service often don't know the terrain or what they will be required to do upon arrival, but that appears to be exactly the point.

They're also loving the luxury all-inclusive
Couple walking on Playa Destiladera at Marival Armony Resort , Riviera Nayarit, Mexico.
The luxury all-inclusive soared in popularity.

Greg Vaughn/VW Pics/Universal Images Group via Getty Images

Luxury all-inclusive trips also seem to be having a moment.

Travel agent Fora told BI it's seen a 324% increase year-over-year in bookings across top-booked all-inclusive brands in 2024. Scott Dunn also listed the luxury all-inclusive as a key travel trend for 2025.

While convenience and the feeling of luxury for decent value are big draws, all-inclusive resorts that offer more than relaxing by a beach are among the most popular options.

As Scott Dunn reports, clients are booking all-inclusive venues that "go beyond the typical 'fly and flop' beach hotel to encompass everything from safari camps and remote lodges, to cruise journeys and wellness retreats."

Wealthy travelers pay big bucks for unique experiences
A man looks through binoculars on a hike.
Luxury travelers are paying to see parts of nature and wildlife at risk.

fstop123/Getty Images

From flying to Texas for the best views of the solar eclipse this year to heading to Australia to catch a glimpse of the rare pink Lake Hillier or the Namib desert for the fairy circles, Black Tomato and Scott Dunn report seeing an uptick in clientele crafting itineraries around "once-in-a-lifetime" moments in nature.

The trend aligns with the "last chance tourism" trend that Will Bolsover, founder and CEO of Natural World Safaris, told BI is gaining momentum.

"We're seeing more of our clients booking trips and requesting experiences because they know they might not always be available," he said. "Sometimes these requests are related to specific iconic locations that are at threat of climate change, such as travelers wanting to see Mount Kilimanjaro while there's still snow at the peak and seeing Antarctica before the ice melts," he added.

They're swapping the beach for 'coolcations' in the summer
Copenhagen, Denmark
Summers in Scandinavia.

Scott E Barbour/Getty Images

Some wealthy travelers are booking escapes to destinations known for cooler summer temperatures, a switch from the traditional desire to head to the beach.

Scott Dunn, for example, reported a 26% increase in bookings for trips to Finland and Norway this summer, while Luggage Forward, a global door-to-door luggage delivery service, said it's seeing more of its clients head to cooler destinations.

"With most of our clients being US city dwellers, we are seeing a rise in their interest in more remote, colder countries," Luggage Forward's co-CEO Audrey Kohout said. "This kind of travel is more adventurous than your typical summer beach vacation, with outdoor winter activities like skiing being the focal point of many of these trips."

Luxury vacations offering access to racket sports are all the rage
Four people playing padel in Miami.
A padel court in Miami.

Jeff Greenberg

Sports like padel and pickleball are growing in popularity in the US, and the desire to keep playing on holiday is taking hold.

According to Virtuoso's 2025 travel report, luxury resorts are increasingly building "state-of-the-art" courts and facilities for racket sports to attract wealthy guests.

Dubbed the "racketeering trend," pioneers of the sports/luxury travel combo include the British billionaire Virgin Group founder Richard Branson, whose exclusive Necker Island retreat now houses courts for padel, pickleball, and tennis.

Read the original article on Business Insider

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