VIRTUOSO'S EXCITING VISION FOR THE FUTURE: HOW LUXURY TRAVEL IS EVOLVING
The luxury travel industry is undergoing a seismic shift, driven by rising demand, evolving traveller expectations, and the rapidly expanding network of highly skilled travel advisors.
VIRTUOSO'S EXCITING VISION FOR THE FUTURE: HOW LUXURY TRAVEL IS EVOLVING
The luxury travel industry is undergoing a seismic shift, driven by rising demand, evolving traveller expectations, and the rapidly expanding network of highly skilled travel advisors.
At the ILTM Cannes Virtuoso press conference, CEO Matthew Upchurch provided deep insights into these trends, highlighting the explosive growth of the U.S. luxury travel market, the increasing reliance on travel advisors, and the shifting landscape of global destinations.
Virtuoso: A by-invitation-only global network of travel advisors
Virtuoso, one of the most prestigious global luxury travel networks, continues to expand its influence in the industry. With $35 billion in annual sales, 20,000+ advisors across 58 countries, and 2,300 preferred partners, the network is at the forefront of shaping the future of high-end travel.
The role of travel advisors is becoming more critical than ever, with a 76% increase in the number of travellers seeking out Virtuoso advisors in 2024. This surge reflects a growing preference for highly personalized and expertly curated travel experiences, akin to the role of a wealth advisor managing financial assets.
Upchurch likened travel advisors to professionals optimizing one of the most valuable non-renewable assets: free leisure time.
The state of the travel industry in 2024
The travel sector has rebounded impressively from the pandemic, surpassing previous records:
Total GDP contribution: $11.1 trillion (+7.5% from the 2019 peak)
Total jobs: 347.8 million (+4.1% from the 2019 peak)
International visitor spending: $1.9 trillion (-0.8% from the 2019 peak)
Domestic visitor spending: $5.4 trillion (+10.3% from the 2019 peak)
One of the key takeaways from the presentation was the unrealised potential of the Chinese outbound travel market. In 2019, 100 million Chinese travellers ventured abroad, but their return to pre-pandemic levels has been slower than expected. However, early signs of recovery in markets like Thailand suggest that China’s full comeback could push global travel to unprecedented heights.
The growing demand for luxury travel
Virtuoso’s data highlights the remarkable growth of luxury travel. Future leisure sales are increasing at a record pace:
Bookings for travel 1-2 years in advance are up 30% compared to 2023.
Ultra-high-end bookings of $50,000+ per trip have surged by 42%.
With travellers securing plans years in advance, the luxury segment is not only thriving but also reshaping the way vacations are planned. Luxury cruises, in particular, are booking into 2027 and beyond, demonstrating the long-term commitment of high-net-worth individuals to premium travel experiences.
2025 travel trends: where luxury travellers are heading
Virtuoso’s 2025 Luxe Report sheds light on the destinations that are capturing the imagination of high-end travellers. Some of the key insights include:
Destinations on the rise:
Portugal (ranked 4th in 2023, now #1)
Antarctica
Iceland
Norway
Morocco (thanks to expanded luxury offerings beyond Marrakech)
Top global destinations for 2025:
Italy
Greece
France
Japan
Croatia
England
Luxury cruising trends:
Mediterranean
Alaska
Greek Isles
Caribbean
Danube
Adventure cruising and active travel are surging in demand
Solo travel:
One of the fastest-growing segments
Preferences lean towards guided tours, expedition cruising, ocean and river cruising
England is an emerging solo travel destination
Sustainability and climate change: shaping travel decisions
With climate change becoming an increasingly pressing issue, luxury travellers are making more conscious choices. 76% of travellers now prioritize destinations with moderate weather conditions, and 78% are opting for off-peak travel to reduce overtourism.
Sustainable travel is no longer just a trend—it’s a defining factor in decision-making. Travellers are most concerned with:
Wildlife conservation and ethical interaction
Avoiding over-touristed destinations
Booking with companies that employ locals
Supporting local communities
Conservation of natural environments
Virtuoso's Sustainability Impact Report tracks efforts in conservation, cultural preservation, and local economic development. Currently, its sustainable travel partners generate $700 million in revenue, with 120 partner hotels and 89 on-site and sustainable cruise partners.
The rise of travel advisors
Another surprising revelation was the demographic shift within the travel advisor profession. While the industry isn’t necessarily skewing younger, it is seeing a rapid influx of new advisors. Many come from high-level professional backgrounds—former lawyers, corporate executives, and media professionals—who have discovered the lucrative potential of travel advisory roles.
A prime example is Ellie Wagner, a former on-set lawyer for Jeopardy! and Wheel of Fortune, who transitioned to luxury travel advising and, within two years, built a $10 million business with just two assistants.
This transformation reflects a broader industry trend: travel advising is no longer seen as a mid-tier profession but rather a highly lucrative career comparable to wealth management.
The power of personalisation in the digital age
One of the insights from Upchurch’s presentation was the way younger travellers, particularly Gen Z, are increasingly turning to travel advisors. Contrary to expectations that digital natives would rely solely on online booking platforms, Gen Z travellers are embracing human expertise to cut through the noise of social media and online hype.
Upchurch further emphasized that the luxury market has evolved towards a mindset of “Of course, I could do it myself, but I don’t want to. And I don’t have to.” This sentiment, driven by technology’s ubiquity, has reinforced the role of travel advisors as trusted experts and aggregators of wisdom—a trend that will only continue to grow.
Looking ahead: the future of luxury travel
As AI and automation become more sophisticated, Virtuoso’s guiding principle remains: “Automate the predictable so you can humanise the exceptional.” The travel industry is moving toward greater efficiency in transactional aspects, allowing advisors to focus on crafting exceptional, highly customised experiences.
From the continued rise of personalized luxury experiences to the surging demand for expert advisors, the travel industry is entering a new golden era—one where human connection and deep expertise are more valuable than ever.
As Matthew Upchurch concluded: “Every single major disruption seems to make travel stronger.” The future of luxury travel is bright, and Virtuoso is aiming to lead the way.
Asia, a recent University of Birmingham graduate with a degree in Creative Writing and Marketing, was introduced to the world of luxury hospitality through her parents' careers as seasoned journalists. Growing up, she learned the ins and outs of the industry by observing their work and experiences. This unique perspective fueled her passion for writing and her appreciation for upscale accommodations. With her academic background and rich upbringing, Asia is poised to craft vivid narratives that capture the elegance and allure of luxury hospitality.
