Maldives has emerged among the hot spots for the luxury travelers around the globe, a survey by International Luxury Travel Market (ILTM) revealed. The survey further revealed that the global luxury travel market is expected to recover within a year, with most wealthy holidaymakers planning their next vacation in 2020.
The survey, which polled over 1,000 personal travel advisors worldwide, aimed to understand the key drivers and early travel trends of wealthy consumers, as countries around the world start to ease lockdowns.
While 64% of the respondents said they had taken travel bookings from their clients amid COVID-19, more than 50% of those bookings due to take place before December 2020. Some 72% of concierge companies received substantial bookings. Of the air travel already booked, 39% is domestic and 27% is longhaul trips.
More than 50% of all planners and agents said they were confident the industry will rebound within a year. Of those yet to take a booking, 72% anticipate a climb in bookings within three months.
The way luxury consumers travel are also set to change, with 59% respondents saying that luxury automobile travel have emerged as their clients’ preferred choice for their first holidays. The survey also found that of those considering other kinds of travel, 25 % are looking at river, sea and international cruises.
High-end travelers are also opting to spend their first leisure trips with family – more than half having already booked family travels, with almost 73% planning to stick closer to home.
Greece, Italy, the Maldives and the Caribbean have emerged as hot options among the affluent.
Top choices for respondents’ next leisure trips are beach escapes, family travel, private villas, natural wonders, road trips, cruises, cultural and unique excursions/experiences.
At the same time, over 20% showed preferences for sustainable and conscious travel, with health and wellness related itineraries coming in as a first choice.