Virtuoso: Luxury Travel Seeing Record-Breaking Grow in 2024

Virtuoso updated the status of the luxury travel space during the Virtuoso Travel Week, which is taking place in Las Vegas on Aug. 10-16, 2024.

“Right now, we are seeing no slowdown in luxury experiences,” said Misty Belles, Virtuoso’s vice president of global public relations.

Sharing data collected by the network’s 20,000 travel advisors, she said that luxury guests are starting to book their travel for different reasons, noting that Virtuoso is seeing more revelry travel.

“They are celebrating travel here and now, in a much more joyful way,” Belles explained during a press conference.

Travelers are also willing to travel at all costs, she said, adding that people are willing to have the experience they want regardless of what the price may be.

Other trends include self-preservation travel and a higher demand for Asian destinations, while “coolcations” are taking the place of hot spots.

The term stands for climate-conscious travel, Belles explained, and includes travelers willing to travel to different destinations in off-peak periods while taking advantage of places that have a more moderate climate and “beating the crowds.”

Virtuoso’s travel advisors are celebrating a record-breaking year in 2024, Belles said, with sales numbers up 211 percent compared to 2019. On a year-over-year comparison, total sales volume is 14 percent higher.

“If you look at where we were last year, in terms of planning one to two years out, we are 38 percent higher. That shows that momentum continues to build for 2025 and 2026,” Belles highlighted.

The growth is being pushed by the cruise sector, which saw an 18 percent increase in sales compared to 2023.

With sustainability still ranking as an important trend for travelers, Virtuoso’s partners are impacting the sector.

Sustainable Cruise Partners’ sales for 2024 are up $80 million, Belles said, while other sectors also noted significant increases.

Other trends include Legacy Travel, with generation Beta joining the other six generations while traveling across the globe starting in 2025.

“It means that it will continue to change the shape of travel because we are going to have all these generations traveling at the same time,” Belles explained.