Luxury travel and yachting trends revealed for 2023-2027

Asoka Elon

1. Gen Alpha Design

Gen Alpha DesignUp until recently, the luxury travel industry has been largely focused on catering to Millennials (Gen Y), but now that many of them have become parents to Gen Alpha, their needs are changing.

Not only are Millennials the most travelled generation on Earth but a large proportion of them are exploring the world with their offspring, which means Gen Alpha Design will increasingly take precedence when it comes to vacation planning. (As every parent knows, if the kids are happy, everyone’s happy…)

By 2027, Generation Alpha will be aged between two and 16, which means luxury travel companies have a huge opportunity to recalibrate their offerings to better cater to this youthful demographic and their Gen Y parents.

It’s also worth noting that a growing number of parents are now part of the LGBTQ+ community and that, in the UK, 23% of families are now headed up by a lone parent (about 90% of whom are women), so hospitality companies need to challenge their assumptions of what a modern family looks like and what their needs are.

2. High-Impact Conservation

High-Impact ConservationBetween 2023 and 2027, we anticipate an increase in demand for High-Impact Conservation from high-net-worth clients who really want to make a difference. Not only do they want to actively learn about the flora and fauna of Earth, but they also want to ensure that their presence contributes to its preservation, protection and future flourishing.

As the world faces a crisis of human-made consequences with habitat destruction, biodiversity loss and climate change, there is a growing sense of urgency to not only undo some of this damage but to witness wildlife and places of outstanding natural beauty that could one day be gone forever.

For discerning high-net-worth travellers who are no longer impressed by gold taps and caviar, “luxury” has taken on new meaning. With scarcity always integral to its definition, it makes sense that “luxury” is becoming associated with exploring remote wildernesses or tracking rare animals. After all, what greater privilege could there be?

A travel company with a conscience, Pelorus is leading the way with High-Impact Conservation trips that provide a blueprint for high-budget ethical tourism of the future.

3. Gamma Destinations

Gamma DestinationsOver the next five years and beyond, high-net-worth explorers will increasingly be avoiding over-crowded “Alpha Destinations” such as Machu Picchu in Peru, Angkor Wat in Cambodia, Uluru in Australia and famous peaks such as Mount Everest and Kilimanjaro.

With China likely reopening in 2023, opening the flood-gates to a vast outbound travel market, as well as the rise of the middle classes in Asia, competition to see the world’s most recognisable destinations (spurred on by social media promotion) will become fierce. Even “Beta Destinations” such as Bhutan, Rwanda and Antarctica will start to become overly busy at certain times of year.

Pelorus has always been a leader in seeking out the “rare” and “extraordinary” so is well-placed to cater to the rising demand for new discoveries. As luxury travellers dream of even more extreme adventures, there is a greater opportunity to devise trips to emerging Gamma Destinations that offer an array of entirely new experiences.

For the worldly wealthy who have “seen it all before”, there will be a growing appetite to see previously unheard of or overlooked countries. There will even be a thirst among a particularly curious minority to set foot in new frontier destinations such as Socotra in Yemen.

Download the free report: Luxury Travel and Yachtings Trends: 2023-2027

Luxury travel and yachting trends revealed for 2023-2027

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