Search Travel Market Report

mainlogo
www.travelmarketreport.com
U.S.A.
English
Canada
English
Canada Quebec
Français
  • News
  • Packaged Travel
  • Cruise
  • Hotels & Resorts
  • Destinations
  • Retail Strategies
  • Air
  • Training & Resources
  • Luxury Travel Report

Luxury Travel Will Continue to Surge in 2020, Survey Says

by Jessica Montevago  January 21, 2020
Luxury Travel Will Continue to Surge in 2020, Survey Says

The results reveal an overall positive sentiment for luxury travel in 2020, despite concerns about political and economic stability. Photo: Shutterstock

Top luxury travel executives predict another banner year for the segment, according to a new survey by travel consultancy Strategic Vision.

The annual “Pulse of the Industry Survey” found that 70% of respondents predicted an increase in revenues in 2020. Fifty percent described their clients’ attitudes as “optimistic” about both domestic and international travel, despite concerns about potential disruptors such as natural disasters, political unrest, and economic disruptions.

Growth predictions for 2020 were high across-the-board – including 67% of travel advisors, 70% of hotel executives, 71% of destination marketers, and 100% of the cruise executives surveyed – and all segments reported that their 2019 revenues exceeded those of the previous year.

The forecasted growth is led mostly by leisure travel, with 78% of respondents expecting that segment to increase in 2020, compared to 38% for corporate travel, and 42% for meetings and incentives.

Concerns about terrorism and crime were the most frequently cited negative factors at 61%; followed by the overall political climate in the U.S. (56%); other economic issues (50%); the U.S. presidential elections (48%); and the overall political climate outside of the U.S. (47%).

On the positive side, 50% said the personal financial standing of their clients and guests would have a beneficial impact. Other top factors named as helping to boost business — the environment and sustainability, other economic issues, the potential impact of Brexit, and the U.S. presidential elections — are evidence that what may be hindrances for some, are considered to be advantages for others.

Major trends in luxury travel
Nearly nine out of ten (88%) of those surveyed said they see more interest in experiential travel, followed by a focus on local experiences (86%); multigenerational travel (81%); adventure travel (77%); and once-in-a-lifetime or bucket list trips (67%). Last year’s survey found similar results, signaling that the experiential travel megatrend is still on the rise.

Japan, the site of this summer’s Olympic Games was cited as the top trending destination by travel advisors. Other top locations where advisors are seeing rising interest are: Portugal, Iceland, Italy, Egypt, Australia and New Zealand, Croatia, St. Barts, and Rwanda. Advisors are also seeing a release of pent-up demand for the Caribbean, with 79% saying they have planned or are planning trips to the region as it recovers from past storms — and this is up from 68% last year.

Hong Kong, France, the UK, Turkey, and South America were cited as the destinations that will see the most negative impacts in 2020.

Forty-two percent of respondents said that concerns about overtourism had a negative impact on travel decisions. When asked which sustainability issues had the most influence, overtourism was chosen by 58% of respondents; followed by plastic usage by hotels, cruise ships and other suppliers (51%); the impact of tourism on natural environments or wildlife populations (39%); and the impact of tourism on local cultures and communities (37%).

Four Seasons Hotels & Resorts, Crystal Cruises, and AmaWaterways are the luxury travel brands the respondents admire the most.

The “Pulse of the Industry Survey” is conducted annually by Strategic Vision and includes executives from the top travel management firms in the U.S., which plan and book leisure, business, meetings, and incentive travel. For the first time, the 2020 survey also included top executives from the hospitality, cruise, and destination marketing segments.

  
  
Related Articles
Headquarter Happenings: Luxury Travel on a Roll at Annual Cadence Connects
Virtuoso Updates Preview Property Program: Luxury Openings for 2025
Casa 5: The New Luxury Hideaway in Riviera Nayarit
The 5 Must-Take Luxury Trips of 2025, According to Travel Advisors
Wine Tourism Remains a Lucrative Niche
New Air Charter Company Promotes Lucrative Sporting Event Commissions
High Net Worth Travelers Love Their Travel Agents
Brickell Travel Expands Offices
Ezon: Embark Will Succeed Through Service, Shared Ownership, Technology

MOST VIEWED

  1. La Liste Reveals Top 10 Hotels in the World for 2025
  2. Delta Air Lines Clarifies Schedule Change Policy for Travel Agencies
  3. Certares Takes Full Ownership of Avoya Travel, Andersons Depart
  4. American Airlines Launches First Touchless ID Lanes
  5. Former Virgin Voyages Head of Sales John Diorio Lands New Role at Celestyal
  6. Delta Is Now Requiring Agencies to Acknowledge and Accept Schedule Changes in PNR


  1. 8 Things to Know About Azamara Cruises
  2. Nothing But Clear Skies for the Cruise Industry
  3. Xanterra Travel Collection Names New CIO & Corporate Director of Sales
  4. First Tropical Storm of Hurricane Season Could Hit Caribbean Next Week
  5. ACTA: Impact of U.S. Tariffs on Canada’s Travel Industry Will Be Worse Than Pandemic
  6. South Africa Responds to Updated U.S. State Department Travel Advisory
TMR Subscription

Subscribe today to receive daily in-depth luxury coverage, analysis of luxury news, luxury trends and issues that affect how you do business. Subscribe now for free.

Subscribe to TMR

Top Stories
Catching Up with Uniworld’s Michelle Palma
Catching Up with Uniworld’s Michelle Palma

TMR sat down with Uniworld’s executive vice president of sales for North America at the 2025 ASTA River Cruise Expo.

Construction Is Underway for Regent Seven Seas’ Seven Seas Prestige
Construction Is Underway for Regent Seven Seas’ Seven Seas Prestige

Seven Seas Prestige will be the first ship in a new class for RSSC, the first new class of ship in 10 years.

Marriott Is Bringing a JW Marriott All-Inclusive Resort to Costa Rica
Marriott Is Bringing a JW Marriott All-Inclusive Resort to Costa Rica

JW Marriott Resort Costa Rica will launch as the brand’s first all-inclusive in the country.

What and How to Order at a Luxury Hotel Bar
What and How to Order at a Luxury Hotel Bar

For advisors new to the luxury space, knowing what to order at a high-end bar can be an unexpected but valuable skill.

Bookings Now Open for Orient Express Sailing Yachts
Bookings Now Open for Orient Express Sailing Yachts

Orient Express Corinthian debuts in May 2026, with two- to eight-night journeys in the Mediterranean and Adriatic.

Luxury Collection Relais & Châteaux Adds 11 New Members
Luxury Collection Relais & Châteaux Adds 11 New Members

The new members include some luxury hotels along with Michelin Star restaurants.

TMR OUTLOOKS & WHITE PAPERS
View All
industry spotlight
https://img.youtube.com/vi/ZAyJC8YgIYQ/0.jpg
Why Travel with HX: The Future of Expedition Cruising
Advertiser's Voice
The Collette Premium Experience
About Travel Market Report Mission Meet the Team Advisory Board Advertise Syndication Guidelines
TMR Resources Calendar of Events Outlook/Whitepapers Previous Sponsored Articles Previous This Week Articles
Subscribe to TMR
Select Language
Do You Have an Idea Email
editor@travelmarketreport.com
Give Us a Call
1-(516) 730-3097
Drop Us a Note
Travel Market Report
71 Audrey Ave, Oyster Bay, NY 11771
© 2005 - 2025 Travel Market Report, an American Marketing Group Inc. Company All Rights Reserved | Terms and Conditions
Cookie Policy Privacy Policy Manage cookie preferences