During the pandemic, Credit Suisse observed that there was an “explosion of wealth” amongst the world’s richest people – in fact, the number of people with more than US$50 million in assets climbed to a record high in 2021 (218,200 globally including almost 3,000 billionaires).
Although many countries are facing a short-term cost-of-living crisis, and there is a worldwide recession forecast, as we have seen from the Covid-19 crisis, the most privileged people are usually able to carry on as normal – or even benefit from a downturn.
With this in mind, Pelorus and Globetrender predict that demand for luxury travel will be healthier than ever over the next five years.
In fact, with millionaires and billionaires being made every day (especially in Asia, which will be a huge outbound source market), there will be no better time to cater to the elite and their offspring.
In this report, we have chosen to focus on seven key trends that we think will be key to shaping the future of luxury travel between 2023 and 2027. First off, we look at Gen Alpha Design and the significance of this youthful demographic as passive consumers who rely on their parents to spend on their behalf. In addition, we explore High-Impact Conservation, Clean Tech Expedition, Ocean Exploration, Meta Previews, Grand Tours and Gamma Destinations.