When we think of luxury travel, we think of high-end, unique experiences like over-water villas in the Maldives or a yacht cruise around the Mediterranean. While many people like to travel on a budget and snap up good deals, others love nothing more than to splash their cash and indulge in the world’s finest experiences. The luxury travel industry caters to those who value exceptional service, exclusive experiences, and the highest level of comfort, and for many, it is a chosen travel trend because of the privacy that comes with it.
This booming sector of the travel industry is thriving, and it is set to grow significantly in the coming years due to the ever-increasing number of HNWI (High Net Worth Individuals) who are their target market, as well as the solid economic growth in developing countries worldwide.
According to luxury travel statistics, the main sub-sectors of the luxury travel industry are mainly adventure and safari-based trips. Still, we will share many fascinating insights into this booming sector with you here.
What is Luxury Travel?
Luxury travel is not your ordinary travel style. In fact, the primary target market is the wealthiest individuals in the world who value privacy and unmatched experiences. Luxury travel can range from adventure safaris and 6* cruises to exclusive access to destinations and personalized experiences. If you were to summarize luxury travel, it is the opposite of budget travel, where money is no object and the sole reason for traveling is to experience the best of the best.
From gourmet dining and personalized tours to private luxury accommodations and experiences matched to the individual, luxury travel is a trend that is here to stay. Affluent travelers value the status and prestige of having the opportunity to enjoy these experiences that not many others can, plus the added bonus of enjoying privacy away from prying eyes is certainly a big draw for this target market.
Why is Luxury Travel So Popular?
There are thousands of reasons why people are drawn to the luxury travel style, and here are just a few of the main reasons.
- Escape and privacy
- Personalized unique experiences
- Top-notch accommodation
- Exclusive access to cultural events and destinations
- An ideal way to celebrate honeymoons, birthdays, and other milestones.
- A symbol of status
- Wellness and relaxation
- The unmatched comforts
Who is Luxury Travel Suited to?
As a whole, luxury travel is suited to everyone who can afford it. While it is mainly targeted at affluent travelers, many opt for this travel style to celebrate honeymoons, as part of a group work event, or as a special treat. While many stick to luxury travel as their prime style, others save up to enjoy once-in-a-lifetime experiences like cruises, safaris, or staying in a fancy hotel in a tropical destination.
In addition, luxury travel is suited to those who value exceptional experiences, excellent service, premium accommodations, and the comforts of having everything done for you. While many luxury travel trips cater to people of all statuses, there are specific experiences that those of us that are not billionaires or celebrities can only dream of.
The Best Luxury Travel Destinations in 2025
- The Maldives
- Bora Bora, French Polynesia
- Dubai, UAE
- French Riviera
- The Seychelles
- The Caribbean
- Botswana
What Are Some Examples of Luxury Travel
- Private island retreats
- Yacht cruises
- Safari adventures
- High-end shopping getaways
- Wine and culinary tours
- Adventure expeditions
- Private jet journeys
Some of the Main Luxury Travel Statistics
- In 2021, global wealth rose by 9.8% to $463.6 trillion, while wealth per adult increased by 4%
- The global luxury travel market size was valued at $1.20 trillion in 2021
- This number is expected to grow at a compound annual growth rate of 7.6% from 2022 to 2030
- In terms of revenue, the baby boomers age group (1955-1964) dominated the luxury travel industry in 2021 and accounted for the largest share of more than 42.65%
- The millennial age group (1981 –1996) is estimated to register the fastest CAGR over the forecast period until 2030
- According to the World Wealth Report 2022, the total ‘High Net Worth Individual’ population expanded by 7.8%, and wealth swelled by 8% in 2021
A Quick Look at the Luxury Travel Trends for 2025
Like any industry, the luxury travel industry is broadening its scope, and in years to come, it won’t necessarily be defined by the aspects we think of today. Luxury travel trends for 2025 are set to include elements of safety; with many travelers wanting to have on-site doctors and medical services, there will be more of a focus on personalized experiences, and future luxury travelers will seek more flexibility with changing their bookings.
In addition, these luxury travel statistics show that other emerging luxury travel trends include a rise in micro trips, customized and private tours, and insider knowledge. Luxury travelers also seek ways to make their journeys more seamless and stress-free.
But there are plenty more travel trends and statistics to know, so let’s look.
1. North America is estimated to experience the fastest growing rate regarding luxury travel of 11.4% up to 2026 (Source)
2. Europe was the region that held the significant market share in 2018 and is set to keep this ranking for the forecasted period (2030) (Source)
3. In terms of revenue, the safari and adventure tour segment dominated the global industry in 2021 and accounted for the largest share of more than 34.95% (Source)
4. Culinary travel and shopping are the two segments that are set to be the fastest growing until 2030 (Source)
5. The Asia Pacific region is set to experience the fastest growth in terms of luxury travel until 2030 (Source)
6. According to this report, the key players in luxury travel include TUI Group, Butterfield & Robinson., Cox & Kings Ltd, Dunn Ltd, Abercrombie & Kent USA, LLC, Lindblad Expeditions, Geographic Expeditions, Micato Safaris, Exodus Travels Limited, and Travel Edge Inc. (Source)
7. The report also mentioned that the key factors catapulting this niche industry are the increasing spending by elite travelers to visit unexplored destinations as well as the growing trend of micro trips (Source)
8. In 2021, global wealth rose by 9.8% to $463.6 trillion, while wealth per adult increased by 4% (Source)
9. The number of high-net-worth individuals (those with a net worth of $1 million or more) also reached 22.5 million. (Source)
10. Despite making up just 0.3% of the world’s population, the HNWI generates approximately 36% of global travel expenditure, which accounts for around 70% of luxury travel spending. (Source)
11. In terms of revenue, the baby boomers age group dominated the global industry in 2021 and accounted for the largest share of more than 42.65% (Source)
12. In 2020, as a result of the pandemic, global tourism revenues dropped by over 51%, amounting to $2.86 trillion (Statista)
13. The luxury travel sector saw an even steeper decline, with a decrease of 54% in 2020 (Statista).
14. The luxury travel market share, from cruises and yachting, dominated $4 billion in 2022, propelled by increased spending for ocean and underwater exploration trips. (Source)
15. Luxury travel held over 65% of the luxury tourism industry share in 2022 due to increased spending by millionaires on culinary and adventure tourism (Source)
16. 11. Since the pandemic, 44% of wealthy individuals have also placed a higher emphasis on travel, compared to 35% of the general population, according to a recent YouGov survey. (Source)
17. According to AARP 2021 Travel Trends”, in the U.S., 54% of baby boomers planned to travel (Source)
18. It revealed that they would spend an average of $6,691, about 20% to 50% more than their Gen X or millennial counterparts. (Source)
19. The millennial age group segment is estimated to register the fastest CAGR over the forecast period until 2030. (Source)
20. The global luxury travel market size was valued at $1.20 trillion in 2021 (Source)
21. This amount is expected to grow at a compound annual growth rate of 7.6% from 2022 to 2030 (Source)
22. According to this report, the leading European destinations for luxury travel were the UK, France, and Germany (Source)
23. It also revealed that online booking channels are the preferred method for booking luxury travel trips (Source)
24. According to the World Wealth Report 2022, the total “High Net Worth Individuals’ population expanded by 7.8%, and wealth swelled by 8% in 2021 (Source)
25. Regarding luxury travel, the “packaged traveler” was the most prominent category within this report (Source)
26. In a survey conducted in April 2022 among luxury travel companies, 85% of respondents said that more than half of their bookings were focused on luxury travel (Source)
27. Whan asked about the reasons for these luxury bookings, many said people want experiences and bucket list fulfillment (Source)
28. 94% of these luxury travel advisors are more optimistic about this industry than at the end of 2021. (Source)
29. 68% also said that their clients are spending more, using private air, and staying longer (Source)
30. Regarding new niche luxury travel trends, 29% of the luxury travel advisors surveyed expected space travel to be a new revenue stream for them (Source)
31. According to these luxury travel statistics, the average luxury traveler is male, making up 6/10 of this demographic (Source)
32. 22% are 25-34 years old, while 56% are married or live with a partner (Source)
33. In terms of luxury travel influences, 36% were inspired by travel T.V. programs (Source)
34. While social media platforms like Instagram (35%) and Facebook (32%) inspired luxury travel trends (Source)
35. In 2023, the Instagram luxury travel hashtag had 9.3million posts (Instagram)
36. Regarding luxury travel trends, the ability to live new experiences saw a rise of 37% this year from 21% in 2021 (Source)
37. In this report, 39% of luxury travelers prefer to book separate flights and hotels online via different platforms or agencies (Source)
38. 53% of luxury travelers prefer sun and beach holidays as their favorite type, while 41% prefer a relaxing getaway (Source)
39. While 33% prefer big city holidays as their preferred luxury travel style (Source)
40. For European luxury travel makers, the top destination was Italy, followed by Spain and the USA (Source)
41. According to the luxury traveler profile, the most popular times to travel for five days or more were June, July, and August (Source)
42. According to Forbes, a new luxury travel trend is emerging, known as “personal fulfillment,” reshaping the future of this niche industry (Source)
43. According to a study by ITB Berlin and IPK International, more than half of international luxury trips are taken by Millennials (born between 1981-1996 (Source)
44. The luxury travel company Virtuoso reported revenue growth of almost 90% in just five years, with an increase of more than $11 billion between 2013 and 2018 (Source)
45. According to Virtuoso, the most popular summer destinations for luxury travel in 2023 are the USA, Italy, France, Spain, and Canada (Source)
46. Virtuoso bookings for 2023 saw a 91% increase from 2019 leading into 2020 (Source)
47. While they were 62% higher than in 2022 (Source)
48. Bookings for Virtuoso’s partner hotels are 193% higher than in 2019 and 77% higher than in 2022 (Source)
49. In terms of luxury cruising, bookings showed a 55% increase this year compared to 2019 (Source)
50. A recent Credit Suisse Global Wealth Report saw that the target market of high-value travelers is expected to grow by 34%, surpassing 62 million worldwide over the next five years. (Source)
51. In a survey conducted by Altiant, 31% of the luxury travelers surveyed said that sustainability/environmental protection is essential when planning their trip (Source)
52. 48% of them are planning to take more sustainable/eco-friendly trips in the future (Source)
53. 50% of the travelers surveyed said they would like to fly less and stay longer in a destination, and 45% would take holidays that last at least one week (Source)
54. A 2022 Sustainability Survey by luxury travel company Virtuoso revealed that more than 80% of respondents said the pandemic has made them want to travel more responsibly (Source)
55. In addition, 75% said they were willing to pay more to travel responsibly if there is transparency over how funds are being used (Source)
56. 78% believed that it’s essential to choose luxury travel companies that have a firm sustainability policy (Source)
Conclusion
As you can see from these 50+ luxury travel statistics, this is a thriving niche within the travel industry and one set to expand over the following years. With more of the world population enjoying more disposable income, the luxury travel industry is set to benefit from HVNW customers who want to see and experience it all.
These luxury travel statistics reflect changing consumer demands and show how much T.V., social media, and friends influence us. While the allure of luxury travel Is no longer confined to staying in top-class accommodations and enjoying butler service onboard a cruise ship, the landscape is changing to include authentic, unique, and transformative experiences that plenty of us crave.
