If money were no object, what would you spend your money on?
The money question once elicited responses of unlimited material goods and bigger homes and cars, but the trend shifted to experiences and wellness. Investing in travel is increasingly a status symbol for the elite and budget-minded alike, but no longer requires staying at the best 4-star hotels and resorts. Instead, luxury travelers are looking to splurge on enriching experiences, wellness and longer trips.
A spike in sabbatical trips offers travelers an escape, as well as the ability to show off their travels on social media. Just like budget travelers, luxury travelers are also looking to more experiential, enriching trips that somehow transform their state of mind and view of the world around them.
Luxury travelers are also splurging on self-care experiences that extend beyond a traditional spa experience. Instead, affluent travelers commit time and money to events like Gwyneth Paltrow’s Goop Wellness Summit and hotels featuring upscale, wellness-focused amenities. The continuously blurring line between experiential travel and self-care also lends itself to a growing wellness tourism industry commanding upwards of $639 billion. There’s really no limit of experiences and wellness activities to choose from. Whether meditative hiking or a beachfront massage on a remote island, affluent travelers opt for curated wellness experiences over luxury hotels and lounging all day on the beach.
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