Long before Kevin Kwan even came up with the idea that evolved into his hit book series and film Crazy Rich Asians, luxury travel has been par for the course among Asia’s elite, with Hong Kong tai-tais and Japanese moguls making their way to posh destinations throughout the world.
Per Grand View Research’s projective report Asia Pacific Luxury Travel Market 2024 - 2030, the region’s luxury travel scene was noted to be worth US$270.64 billion as of end-2023 and will be growing at a compound annual growth rate of 8.6 percent till the end of the current decade.
That said, the Asian luxury travel market contributes 19.7 percent of the total worth of the global luxury travel market annually, primarily driven by rapid economic growth, greater disposable income, more free time, as well as rather aggressive promotion on the part of tourism boards throughout the region as of the end of the pandemic.
Moving forward, we take a closer look at three significant trends that stand to influence the region’s luxury travel market throughout 2026.
More cruises: all aboard to adventure
In April of last year, we reported that cruises are becoming more popular among Asian travellers, and luxury travellers even more so.
Indeed, cruises are rapidly becoming the escape of choice for those coming into wealth as these offer an elegant, even stately, and incredibly immersive approach to travelling the world.
At the same time, the increasing demand for experiential travel options also plays a role in the growing popularity of luxury cruises, along with offerings specific to the region from leading firms like Royal Caribbean and luxury-centric lines like Oceania Cruises and Cunard.
It also helps that guests aboard cruises get to experience a standard of pampering they would be hard-pressed to find even among the most elegant hotels on shore.
We should also note at this point that domestic cruises from companies like Bhaya Cruises in Vietnam and Murray River Paddlesteamers in Australia are raising the bar for bay and river cruises, offering a standard of elegant luxury previously unknown.
The Thais said it best: Healing is the new luxury
In October of last year, the Tourism Authority of Thailand introduced its new thematic campaign Healing is the New Luxury to the world.
But the very notion of healing as a luxury experience goes well beyond Thai shores, given how locations like the Indonesian province of Bali are raising the bar for luxurious spa getaways and luxury resorts like Anya in the Philippines offer extensive healing and wellness programmes on their premises.
The concept extends further with the potential boom of medical tourism within the region, driving affluent patients to countries like Thailand, Vietnam, and the Philippines for exceptional medical care delivered in elegant surroundings.
It should be mentioned at this point that the mountain nation of Bhutan has also joined the wellness scene, offering destination detoxes from the cares and stresses of everyday life, combining professionally-supervised medical procedures, spiritual resets, and elegant accommodations to draw in world-weary travellers.
Immersion, immersion, immersion
East Asia’s overtourism woes aside, there is a growing demand for experiential travel options throughout the greater Asian region.
People want more authentic experiences, along with the ability to immerse themselves into the richness of a nation’s culture.
But while picking and mixing traditional elements is all well and good for the backpacking crowd, those seeking quality experiences want to go for the real thing.
Often, this means booking tours that enable travellers to experience the local way of life for a longer period of time.
Japan has been doing this for a long time through its ryokans, traditional inns offering the same comforts and amenities seen in traditional homes, but sometimes in a more elegant, refined iteration.
South Korea has likewise hopped onto the immersive experiences bandwagon, with travel agencies offering luxury tours that put travellers on the road for up to two weeks, sampling local cuisine, delving into the key aspects of Korean culture, and experiencing the country in a way that goes beyond simply donning a hanbok and posing for photos at one shrine or another.
Immersive experiences likewise extend to the concept of sustainable journeys, including safaris where one shoots with a camera rather than a rifle, and local guides explain the synergetic relationship between man and nature that has deep roots in local traditions.
One thing is certain at this point: the sort of luxury travellers want to experience nowadays is anything but the wasteful opulence of yesteryears, but more of a search of truly meaningful experiences that are worth more than their weight in gold.
