When we think of luxury travel, we often gravitate towards opulent destinations like. Amalfi Coast in Italy or Davos in Switzerland. Luxury travel is all about experience and, most of the time, luxury travel enthusiasts steer clear of places where crowds throng. They choose places and trips that are out of reach for a majority. The submarine expedition to the Titanic shipwreck at the bottom of the Atlantic Ocean in which five people lost their lives in June this year-is one example. It reportedly costs $2,50,000 per person. Similarly, space travel is becoming a thing, with the likes of Jeff Bezos and Richard Branson undertaking journeys into space, along with their Russian multi-billionaire counterparts.
While those undertaking such trips need an appetite for adventure besides a fat bank balance, there is no dearth of uber-rich travel enthusiasts who demand opulent hospitality. According to the Mastercard Economics Institute’s Travel Industry Trend 2023 report, as real wage growth turns less negative across regions, with inflation declining this year, travellers may be more inclined to splurge on high-end experiences, such as luxury resorts and shopping. Cutting down on the risk factor, there are places with less extreme adventures and more relaxed luxury for those looking at destinations that offer them unmatched experiences.
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