They may have a hefty bank balance, but that doesn’t mean today’s luxury travellers are frivolous with their funds.
High-net-worth individuals (people whose assets exceed £1 million) are becoming more cautious about spending on luxury travel, the cost of which has soared in recent years due to inflation and increased demand.
Rates for five-star hotels reached “peak levels” in 2024, and while some industry experts have warned of a possible downturn, there’s no sign that these astronomical prices will drop any time soon.
