- 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:
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