This article originally appeared in the March issue of AGENTatHOME magazine. Get a free monthly subscription by subscribing here.
Advisers expect another strong and profitable year for the luxury goods industry, but that doesn't necessarily mean it's simply capitalizing on the post-pandemic travel boom.
“I think the pandemic has created a new market for luxury travel, and although that market has stabilized now, there will be a permanent influx of travelers who have had a taste of luxury travel and can’t go back. “I'm doing it,” Jonathan said. Mr. Alder, CEO of Jonathan's Travels. “I think interest rates will start to level off. I've already seen a lot of that.”
He added, “Demand remains incredibly strong. I'm already battling a waiting list for the holiday season.”
1. A vacation on your bucket list.
Showtime Travel CEO Belvin Baldwin II believes the pandemic has changed the way travelers think. “Luxury travelers aren’t waiting for a luxury bucket-list vacation,” he said. “In fact, they plan their bucket list vacations far in advance so they can check them off the list and get to work on their next vacation.”
“The luxury market is growing with requests that include customized and personal experiences to create lifelong memories,” he added. “Travellers are willing to pay a premium for experiences that are hard to replicate.”
Pamina Villa in Positano, Italy. (Photo courtesy of Rental Escapes)
Baldwin said he is also seeing an increase in custom itineraries with stays in luxury hotels and villas. “His partnership with DMC, the best locally, allows us to provide our clients with a great experience and refer them to us when they return from their luxury vacation.”
Trish Gastineau, owner of Simply Europe Travel, a Travel Expert company, said her sales this year have surpassed 2023, the highest since she became an independent contractor. “Demand for five-star hotels and private tours remains high, but there is a bit more space available in 2024 compared to the same period in 2023,” Gastineau said, adding that “prices for hotels at all levels remain It's expensive,” he added. Fee. ”
2. Luxury Cruise
Advisers say cruising is one of the best-performing segments of luxury travel this year. “We're seeing an increase in requests for premium cruises such as Regent Seven Seas, Silver Sea, the new Explorer, Journey, Uniworld and other river cruises,” Gastineau said. “We have also noticed that more clients are making inquiries and bookings for upper-level suites this year compared to 2022 and 2023.
“I think this is happening because people don't want special milestones or family events to go by without celebrating them. Pandemic restrictions are still fresh in their minds, so they're taking the opportunity to I don’t want to waste it.”
Seven Seas Explorer (Photo courtesy of Regent Seven Seas Cruises).
Cruises that call in Montenegro and Croatia are popular among Gastineau cruise passengers this year, as are river cruises that visit Christmas markets, which were a big seller last year. “At this point, there is limited availability left in 2024,” she said.
Alder is seeing strong demand for luxury expedition cruising. “This is about the ultimate convenience of being able to explore otherwise inaccessible places without having to constantly unpack and repack your luggage, as the ship itself is a one-stop destination.” He said.
3. Africa and the Caribbean
Baldwin has noticed tremendous growth in the African market. “Customers are requesting places like Morocco, Ghana, Egypt, South Africa and Tanzania,” he said. “We are also starting to receive requests from African islands, including Seychelles and Mauritius.
“There is also strong pressure for less ‘touristy’ Caribbean islands. Customers are looking for experiences that allow them to explore the islands outside of the resort.”
Alder continues to grow in the African market and in Europe. “Both will be pretty full in the custom land travel space this year,” he said.
New destinations in 2024
Madeira Island, Portugal. (Photo credit: majonit/Adobe)
Trish Gastineau of Simply Europe Travel said: “We're seeing increased interest in Portugal's Madeira Islands, the Azores, Morocco and Egypt.”
Jonathan Alder of Jonathan's Travel said he was seeing customers interested in destinations such as New Zealand. “United is the first airline to fly non-stop from the United States to the South Island, making it more accessible than ever,” he said.
Other new destinations include French Polynesia, Turkey, Kenya, Antarctica and South Georgia, he added.
“With more transportation options than ever before, it’s easier than ever to visit the White Continent, home to some of the best wildlife on earth, and nearby Antarctic islands like South Georgia. ,” Alder said.
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