ILTM survey says over 50% believe the luxury travel industry will rebound within a year

In the first global temperature check of the travel advisor community, ILTM- the world’s largest portfolio of luxury travel events – has revealed the results of international research among their global luxury travel agents. Timed to coincide with the ease of lockdown in many parts of the world, the objective was to understand the key drivers and the early trends of how, where and when wealthy consumers plan to start travelling again.

“The ILTM portfolio hosts the world’s most influential private travel designers, and retail travel agencies every year. We wanted to gauge their views to establish how the world of luxury travel will work for the rest of 2020 – after all, their clients are the ones who hold the answers,” said Alison Gilmore, portfolio director of ILTM. From a sample of over 1000 private planners, individuals and agencies across Asia Pacific, Europe, North America, Latin America, Middle East, Russia and Africa, some trends emerged.

Since the outbreak of COVID-19, two-thirds (64%) of those surveyed said they had taken travel bookings from their clients. Over 50% of these bookings are due to take place before December 2020. 72% of concierge companies received substantial bookings. Of the air travel already booked, 39% is domestic and 27% is long haul trips and over 50% of all the planners and agents surveyed said they were confident the industry will rebound within a year.

Luxury travellers are already setting new trends with 59% personal travel advisors saying that their clients are wanting information on luxury automobile travel as their preferred choice for their first holidays shows a trend for domestic luxury travel as a priority in the early stages of the return to leisure trips.

When asked what their top choices would be for their next leisure trips, respondents chose beach escapes, family travel, private villas, natural wonders, road trips, cruises, cultural and unique excursions/experiences. At the same time over 20% showed preferences to focus on sustainability, and conscious travel with health and wellness related travel itineraries also featuring as a first choice.