LUXURY travel is continuing its growth despite a myriad of global challenges affecting travel and the economy, the latest Virtuoso Luxury Travel report has revealed.
Sharing the results in Sydney yesterday, Misty Belles, VP of Global Public Relations, admitted that while certain sectors may be experiencing a “soft need in the market”, luxury continues to be strong.
When it comes to intention to book luxury travel, Belles said “54% [of travel advisors] expect a slight increase, whereas 23% expect a significant increase”.
In terms of actual spend, 63% of Virtuoso agents forecasted a slight increase from clients, but 16% believed there would be a significant increase.
While intent and spend was shifting upwards, desired places to visit and activities to take part in were also changing, with Japan shooting to the top of a range of lists for luxury travellers.
“This is really significant for us, because in the 20 years I’ve been doing this survey, Italy has always been our number one destination – this is the first time that Japan has knocked Italy down to two,” Belles revealed.
The Virtuoso executive also pointed to Portugal as one to look out for, coming in at number nine on the list of top destinations for Australians, and showing solid growth.
