Despite rising travel costs, travel intent remains strong, according to MMGY’s 2024 Industry Outlook. In fact, if travel advisors are struggling these days, it’s to keep up with the demand for their services. We turned to some of the top industry group leaders for insights into what’s motivating today’s travelers. Here’s what they’re seeing:
Exotic and far-flung
Visiting exotic destinations was identified by advisors as a top emerging trend in a recent American Marketing Group (AMG) survey, with its top five trending locales South Africa (first place), followed by Eastern Europe, Japan, Thailand and Antarctica.
“People’s sense of adventure has been awakened,” said Nicole Mazza, AMG Chief Marketing Officer. “They’re hungry…to try something they’ve never done, whether it’s a new place, a new activity or a new style of travel.”
Virtuoso is also seeing a thirst for unique experiences. “People are venturing out to discover exotic and less-explored areas,” reported David Kolner, Executive Vice President, Virtuoso. “The excitement of being the trailblazer among family and friends adds to the allure. Some crave the cultural richness found in reemerging destinations such as Japan, Thailand, Vietnam and Morocco. And for those with a taste for adventure away from the heat and crowds… and untouched beauty, Antarctica, Norway and Iceland are proving irresistible.”
Off the beaten track
While traditional destinations remain as popular as ever, high prices and crowded attractions are motivating many to discover the joys of traveling in the off- and shoulder-seasons and visiting lesser known destinations.
“The smartest travelers—who are often smart because of their smart travel advisor—are traveling to secondary and tertiary cities and/or at a different time than the typical high season. Let’s face it, somewhere like Italy or Spain is incredible year-round, so targeting off-season or getting to some of the smaller towns is often even more rewarding, can save money, and shows your friends that you are a savvy traveler,” said Alex Sharpe, President & CEO, Signature Travel Network.
"We are seeing an increase in requests to secondary European destinations like Portugal, Slovenia and Montenegro, among others. The pricing in popular destinations like Italy, coupled with the unknowns surrounding summer events like the Olympics, are forcing clients to investigate destinations that might have been further down their bucket list or not on it at all,” said Katherine Norton, Director of Partner Relationships, Brownell Travel.
Family, multi-gen, and celebration travel account for three out of the top five travel trends in the 2024 Virtuoso Luxe Report and the travel industry has responded with an ever-expanding array of sailings, tours, resorts and activities designed to appeal to a wide range of interests, ages and abilities.
Whether for a wedding, anniversary, vow renewal or reunion or simply as a way for families to bond over shared experiences, multi-gen travel is a trend to tap into. “Even without a special occasion, travelers are prioritizing quality time with family and loved ones,” said Kolner.
A key to a successful multi-gen trip is to cater to each traveler’s specific needs and interests, noted Norton. “Most clients are combining multiple travel types into one trip. Celebration and milestone trips are turning multi-generational and there seems to be a wellness focus on every itinerary whether it be a visit to the spa or a fully immersive experience.”
Slow, Immersive, Impact Travel.
Experienced travelers realize the value of a trip is not about touching down in as many places as possible, it’s about being touched by the places you visit—and increasingly, travelers are seeking the deeper connection that forms when they know their visit will have a positive impact.
In a recent Virtuoso survey, 58 percent of travelers said they are willing to pay more to travel responsibly if they know how the funds are being used – a five-point increase from 2023.
“Many travelers are opting for a slower, immersive pace that allows for a more profound exploration of a destination’s culture. Sampling native dishes and engaging with locals are fantastic ways to add some richness to your life and forge meaningful connections that go beyond merely checking off major tourist sites,” said Kolner.
One of the most effective forms of immersive travel is to give back to the communities you visit, said Sharpe. Signature’s non-profit Travel Elevates enables advisors to pair at least a small “give-back” opportunity to each itinerary. “When properly done, it is almost impossible for that not to be the highlight of a trip. It’s something guests hold on to forever…and frankly what brings them back. As a personal example, my wife and I were in Thailand celebrating our 25th wedding anniversary and donated to Wildflower House, a commune for women in great need, through AKP (Abercrombie & Kent Philanthropy). The impact of our gift will live on for those women, but also for us as we remember our anniversary trip.”
With luxury hotel companies and other brands dipping their toes into cruising, the cruising’s appeal is widening far beyond the typical cruise client. According to the Virtuoso Luxe Report, river cruises remain popular with itineraries from the Danube River to the Mekong River and the Nile. Adventure cruising is also trending due to increased accessibility to places like Antarctica, 2024's leading adventure destination (especially with new flights that allow passengers to avoid the often-rough Drake’s Passage crossing). And yacht charters are on the rise, offering privacy, flexibility and a customized experience.
“Wave Season is off to a strong start, coming off the best year in cruise history. Our TV’s are full of ads from these incredible new ships, drawing more people to the industry and driving up rates,” reported Sharpe.
Brownell too is seeing a large uptick across the cruise segment, particularly in those new to cruising, said Norton. “Even the luxury brands offer great value in many popular destinations and …cruising is a great way to see a destination where there may be limited availability—like Japan.”
From “runcations” that center on trail runs, training or races to sporting and cultural happenings, event travel is taking off, according to MMGY’s 2024 Industry Outlook.
Taylor Swift symbolizes the rising trend of passion-point travel, noted Kolner. “The beauty of this trend lies in its personal nature, allowing travelers to immerse themselves in destinations and experiences that resonate with their favorite obsession. Whether it’s a Swiftie singing along at a concert in Switzerland, or a stargazer marveling at the total solar eclipse, exploring a passion in a new and exciting setting brings like-minded individuals together and provides a sense of fulfillment that many are searching for in 2024.”
Despite all the publicity about crowds and high prices, there has been no drop-off in travel to dream destinations, said Norton. “Plenty of clients are still eager to visit France during its busiest summer and they are not sweating the rates for our favorite hotels in Italy…(so) our advisors are focused on ensuring their clients experience will not be negatively impacted by the price and crowds.”
The luxury traveler’s desire to leave nothing to chance has increased their motivation to turn to a professional travel advisor—both to simplify their booking process and to enhance their overall experience. Plus, lingering restrictions, shortages and air travel frustrations have led to increased demand for custom trips.. and exclusive-use experiences – private jets, yachts, and villas, according to the Virtuoso Luxe Report.
“Personalization and peace of mind are paramount, and our clientele demand customized itineraries that prioritize their convenience and comfort…This holds true whether they're planning the dream vacation of a lifetime or organizing a spontaneous getaway,” Kolner said.
“Two booking trends we’ve seen level off—but level off at their all-time highs—are villa rentals and domestic travel,” said Sharpe. “This tells me that folks have found things they like during the pandemic that they are holding onto and that advisors have become a go-to resource even for domestic travel.”
Today’s advisors spend an incredible amount of time educating clients on the current realities of travel and then ensuring each client is getting the best value and care possible, said Norton. “When you combine the intense increased demand for luxury travel with the staggering pricing increase for hotels and services, the role of an advisor is more important now than ever.”
