“Fancy-flation” &”Gen-XYZ-peditions”: Virtuoso Reveals Canada’s Luxury Travel Trends

If anyone was bracing for luxury travel to take a quiet breather in 2027, the consensus inside Toronto‘s Shangri-La Hotel on Thursday (Oct. 22) was a resounding, champagne-clinking no.

Gathered over a buffet lunch in front of an intimate crowd of travel media Thursday (Oct. 22), an elite panel of industry leaders unboxed the findings of the 2027 Virtuoso Luxe Report: Canada.

The verdict from surveying over 3,100 of the poshest travel advisors in the world? Canadian ultra-high-net-worth travellers aren’t just booking trips; they’re doubling down on high-impact, high-spend experiences.

Led by Misty Belles, Virtuoso’s vice president of global public relations, and Karen Hardie, general manager for Canada, the panel featured Anna Judek, owner and president of Zebrano Travel; Ilana Valo, founder and CEO of TWIL Travel; and Ashwin Mathur, general manager of the Shangri-La Toronto.

Together, they unpacked how affluent Canadians are navigating everything from shopping the exchange rate to planning high-stakes family expeditions.

Virtuoso’s Canadian advisors are strutting into 2027 with their highest level of confidence in three years.

Half of those surveyed expect leisure travel demand to rise at least slightly in the coming year, while another 23 per cent anticipate a significant increase.

That confidence carries through with 61 per cent predicting an increase in spend per trip and another 17 per cent forecasting a significant jump.

“Last year my clients weren’t booking in advance,” noted Judek. “Now they’re really looking at 2027, so I’m reading that as major optimism.”

But the way Canadian luxury travellers are spending that money is undergoing a distinct shift.

Shopping the Exchange Rate: The Rise of “Fancy-flation”

Perhaps the most practical insight revealed in the report is the concept of “Fancy-flation” – a trend where clients arrive at their advisor’s office with a budget instead of a specific destination in mind, looking to travel where their currency will flex the hardest.

Make no mistake: nobody is trading down. Virtuoso clients aren’t giving up their five-star suites or impossible-to-book dinner reservations anytime soon.

Instead, they’re simply swapping the pin on the map.

Rather than compromising on luxury in pricier hubs, savvy Canadians are taking their dollars to destinations like Vietnam, Argentina, and Colombia where the exchange rate delivers significantly more bang for their buck.

Japan Surges & Global Destinations Shift

While Italy effortlessly held onto its throne as Canada’s No. 1 global destination, the real headline was Japan climbing two places to secure the No. 2 spot, followed by Greece, Portugal, and France.

Japan’s meteoric rise—placing in the top five for family, solo trips and city trips (Tokyo forever!)—reflects a massive appetite for rich cultural immersion coupled with improved air connectivity.

Under the report’s “Air Supply” umbrella, expanded air service and new nonstop routes, along with the appeal of seamless regional logistics, are converting long-standing bucket-list entries into confirmed itineraries.

On the urban front, Barcelona’s long wait finally ended as it took the No. 1 city spot after three years in second place, while Rome made a massive leap from seventh to second, closely trailed by Lisbon, Tokyo, and Budapest.

The Rise of Remote Landscapes & Adventure

The report also shines a spotlight on a growing national obsession with wild, drama-filled landscapes and wildlife-packed itineraries.

Iceland kept its firm grip on the top spot for destinations on the rise, while Antarctica bounded into second place and Argentina, Kenya, and the Galapagos Islands all barged into the top 10 for the very first time.

For pure adventure, Antarctica reigned supreme, followed by Costa Rica, the Galapagos Islands, Iceland and South Africa.

Meanwhile, Alaska officially unseated the Mediterranean to lead cruise itineraries, ahead of the Danube River, the Mediterranean, the Caribbean and the Greek Isles.

“Gen-XYZ-peditions” & the Ultra-luxe Takeover

The report highlights a powerful convergence between two major movements: multigenerational family travel (which claimed the No. 1 spot for top travel trends) and expedition cruising, which sailed smoothly from ninth to second.

Virtuoso has dubbed this convergence “Gen-XYZ-peditions” – far-flung, high-stakes adventures shared across multiple generations as affluent families look to lock in meaningful time together.

“We call it inheritance travel,” said Judek, noting that it’s often spearheaded – or at least paid for – by grandparents.

“A lot of these families aren’t living in the same place,” agreed Valo. “These trips are a great way to let the kids spend time with their cousins and create really incredible memories.”

These family trips also lend themselves to the privacy and personalization associated with ultraluxe travel, which 37 per cent of advisors say is on the rise.

At the highest end, that can even mean reserving an entire ship or lodge.

When looking at top ultra-luxe experiences, fully-inclusive resort or cruise experiences led the pack, followed by milestone travel, hyper-personalization, active/adventure trips and absolute privacy.

Families seeking sun and sand also looked closer to home, with Costa Rica and Mexico tying for the top family destination, and Canada itself rising to number two.

For honeymoons, Greece topped the list, followed by French Polynesia, Italy, Bali, and France.

Solitary Refinement & the Female Solo Traveller

Solo travel is no longer a niche compromise; it’s an intentional luxury strategy.

Dubbed “Solitary Refinement,” single travelLers are moving away from rigid group itineraries in favour of deeply-tailored, personal journeys. Italy, France, Ireland, Portugal, and Japan formed the top solo destinations.

Most notably, women – especially Boomers – are driving this trend, Virtuoso reports.

“These women have decided they want to go, and they’re not going to wait for anyone to go with them!” said Belles.

“You see all these women who are gifting themselves beautiful bags and luxury items,” added Valo, “and they’re also giving themselves permission to spend on travel for themselves.”

Guided tours led solo travel experiences, with health and wellness at number two, and women-only solo travel debuting at number three.

Destinations like Portugal, Iceland, and Croatia are leading the charge for this ever-more-adventurous demographic.

The Urban Sanctuary Perspective & Travel Motivations

Bringing the luxury hospitality perspective back to the host property, Mathur noted how high-end city hotels like the Shangri-La Toronto are adapting to elevated client expectations by going beyond mere excellent service to creating unique experiences, like seeing Niagara Falls via helicopter or touring the city’s foodie hotspots with the hotel’s chef de cuisine.

Whether hosting milestone celebration travel – which retained its crown as the number one motivation to travel for the fourth consecutive year – or serving as the frictionless launchpad for multi-city itineraries, urban luxury properties are leaning heavily into hyper-personalization.

As the panel concluded, one takeaway was crystal clear: Canadian luxury travellers aren’t scaling back.

They’re simply getting smarter, bolder, and far more intentional about where they place their passport stamps.