Substance over spectacle

Whether it is a golf tournament on the edge of the Arctic, being waited on by a private pool or an exclusive beach villa boasting over 1,000 square metres of living space – well-heeled travellers and those willing to splash out on a special experience can now choose from almost limitless options for their vacations. Premium-range holidays featuring bespoke add-ons and personalised service have grown significantly faster than the overall market in recent years. Holidaymakers lusting for luxury have become an increasingly important target group. Although they account for barely five per cent of all travellers, they make up around 22 per cent of total expenditure in global tourism. From high-end cruises to off-the-beaten-track destinations, remote luxury lodges and upmarket packages combining in-demand cultural and sporting events are just a few of the many offerings that can count on brisk demand.

Immune to crises and economic cycles

There is little sign of this boom ending. According to the US market research institute Global Market Insights, towards the end of COVID-19 in 2022 the sector’s global turnover stood at around $20 billion, and is currently forecast to reach around $150 billion by 2032. For tourism operators with big stakes in this sector the economic winds are blowing their way. This customer market is regarded not only as highly dynamic, but also relatively immune to crises and economic cycles. Whereas consumer sentiment in many sectors is currently suffering from high energy costs and an uncertain economic outlook, the rich and affluent are more than ever able to pick and choose their travel plans for 2026. Besides well-heeled millennials, it is primarily the many baby boomers in North America and Europe driving this segment – customers with good retirement income and substantial assets who, no longer needing to work, can spend freely on leisure and recreation. In the Asia-Pacific region too, the market for wealthy holidaymakers has expanded considerably. The long economic boom in China and other parts of Asia has given rise to a young, free-spending upper class in search of premium travel experiences around the globe.

What luxury is and what defines it remains, however, a complex question that is not easily answered. As the market is growing dynamically and becoming increasingly diverse, this term now encompasses a wide variety of needs and concepts, anything from full dedicated service to a desire for authenticity; from a longing for seclusion to access to exclusive facilities and personal encounters; from a digital detox in a silent medieval monastery to longevity therapy in a private clinic.

Chilling on the Arctic Circle

Away from these diverse interests, however, one trend stands out. With tourism all over the world – think ‘overtourism’ – increasingly testing the limits of local hospitality and causing bottlenecks in popular holiday regions, exclusivity and seclusion are now in big demand. Those who can venture off the beaten track – by visiting destinations in less-frequented regions or arriving by privately chartered aircraft or speedboat – can count themselves among the privileged few. As well as exclusive access, these audiences want authenticity and a unique experience. Visitors who come by helicopter or motor yacht are not keen on off-the-shelf offerings at their destination. “More than ever, luxury is defined by uniqueness – the more exclusive an experience, the greater its value,” says Steffen Boehnke, director of the luxury tour operator airtours. Customers of the TUI subsidiary want a break from their daily lives. There is a demand, for example, for a natural environment that communicates a sense of vastness and tranquillity in a remote mountain or coastal region. Since 2026, this tour operator has been marketing a luxury lodge on the Arctic Circle inside a 300-hectare nature reserve, with forests, lakes and free-roaming reindeer, offering the ultimate retreat. A personalised service provided by a starred chef, personal staff and wilderness guides replaces the traditional hotel infrastructure.

Away from influencers

In the past the focus was often on impressing one’s social circle with luxury consumption, which enabled them to gain status and prestige. Today however, personal needs and anonymity potentially count for more. Anyone who spends their holidays on 1,400 square metres of living space in a six-star villa in the Maldives, or books a meditative retreat in a remote monastery in Bhutan, unlike many influencers does not want to make the experience public, and instead will enjoy it by themselves. “Our visitors invest in quality time for themselves, personalised service and memories that carry genuine value,” says airtours director Boehnke

In that context, luxury also means distancing oneself from the relentless circus of the travel world on social media with its bucket lists and to-do lists, where everything revolves around appearances and copying others. Luxury aficionados, as well as affluent high-flying professionals are unlikely to be won over this way. This clientele wants substance over prestige. “Demand for individuality, privacy and bespoke travel is greater than ever. We are seeing a shift away from traditional luxury towards travel with personal significance and emotive added value. As well as travelling in comfort, visitors want to experience something unique they can look back on for many years to come,” says Christian Böll, managing director of the Berlin-based tour operator Windrose

Exclusivity is becoming more and more in demand

However, it is no longer just established luxury travel organisers such as airtours, Windrose and the private jet operator Consul-Reisen who are benefiting from the rising demand driven by a well-heeled class of traveller immune to crises and economic cycles. Other tour operators are increasingly receiving enquiries from customers who as well as looking for something special are also willing to dig deep into their pockets. “The market is expanding. Exclusivity is becoming more and more in demand,” observes David Heidler, managing director of the Africa tour operator Akwaba. The Leipzig-based company offers a wide range of trips to Africa for middle-income clientele, but is also catering increasingly to high-end demand. Anyone who finds the standard Tanzania holiday – combining a national park safari and beach holiday – at prices starting at 5,000 euros too mundane can upgrade in a variety of ways. In particular, overnights in African national parks and their wide-ranging offers of nature and wildlife watching provide countless opportunities for booking luxury extras. Trained national park staff who track down wildlife well before tourists arrive, private flights for special photo ops, and exclusive lodges in remote areas with private pools and staff can easily push the cost of an African holiday into five figures. Unlike at many European and Asian destinations, overtourism is still barely an issue in Africa. However, due to rising visitor numbers, services have become wider-ranging there too. Discerning holidaymakers wishing to enjoy an exclusive beach holiday in the region after their safari no longer prefer booming Zanzibar, but instead visit the more tranquil neighbouring island of Pemba, whose luxury resorts also leave nothing to be desired.

Home of Luxury at ITB Berlin: the meeting place for the international luxury travel industry

The growing demand for exclusive and personalised travel experiences is making the luxury segment one of the industry’s most exciting growth markets. Consequently, the importance of platforms where key players can network and develop new business opportunities is also on the rise. With Home of Luxury, ITB Berlin offers an exclusive meeting place for the international luxury travel industry

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