Among these trends in credit-suisse.com, a new category of high-end travelers should not be overlooked: the Chinese. For the first time, the number of Chinese US dollar millionaires exceeded the 1 million threshold in 2011 and is estimated to reach 2.4 million by 2016. Rising disposable incomes, a relaxation of visa regulations and an appreciating renminbi boosted Chinese tourism spending to record levels last year, to 102 billion dollars from 13 billion dollars in 2000.

According to the credit-suisse.com, authentic experiences in new destinations, multigenerational travel, staying in private residences rather than luxury hotels and cruising emerge among the biggest trends identified among affluent travelers right now. Other trends such as the interest for destinations making news, such as Brazil where the next World Cup will be held, and exclusive pop-up hotels, should not be overlooked either.

The quest for new horizons when traveling remains constant year after year. The luxury travel sector, however, appears to be evolving. Affluent travelers think and spend differently. Today, luxury is about personalized travel exploring the passions and interests of the individual traveler, where unique experiences in new destinations are sought, combined with rest and relaxation, personal enrichment and adventure. Seven top trends are listed below:

 Memorable Authentic Experiences

Travel is deeply personal. The motivation behind high-end travel is increasingly about inimitable journeys connected to a specific destination. A week in Milan can contain shopping with a personal shopper at Armani and Gucci, assisting the presentation of a fashion show, visiting a yacht factory, combined with a test drive with a Ferrari on the Fiorano Circuit. A vacation in India can include stays in former royal palaces and remote wilderness lodges at national parks, the exploration of the countryside from the back of an elephant and private cruises to visit palaces such as Jag Mandir or the temples of the Elephanta Island outside Mumbai.

Magical Pop-Up Experiences

The here-today-gone-tomorrow pop-up phenomenon that started out with stores and restaurants has now spread to include both hotels and retreats. As a result of this pursuit for magical moments, the pop-up phenomenon attracts an increasing number of wealthy travelers. It is not sufficient to dine at the best restaurant in the town visited. High-end travelers want to experience something unique and are chasing pop-up restaurants and hotels. Pop-ups’ advantages? It is highly unlikely that anyone in their social circle has experienced it. Rooms can, for example, be reserved at yoga ashram retreats popping up in Italy, Mexico and Bali for just two months. In England, Pop-Up Hotel and Snoozebox are entirely devoted to the pop-up hotel concept. Pop-Up Hotel, for example, offer «glamping» or glamorous camping with some of the services and amenities expected at a boutique hotel, at festivals and events held across the United Kingdom.

Multigenerational Travel

Multigenerational travel is another strong trend in luxury tourism. The sector is primed for growth, as the baby boom generation is getting older. With both time and disposable income on their hands, older travelers are increasingly taking their grown-up children and grandchildren along on their trips. Given societal changes, which have lead to new family constellations, the number of people potentially participating in multigenerational trips has grown considerably as stepmothers, children of previous marriages or even cousins and in-laws join. Arranging such trips has long been lucrative for luxury travel advisors, who need to find destinations and activities appealing to people of different ages. Cruises have emerged among the top choices for multigenerational travel.

Cruise Vacations

Cruise vacations on both oceans and rivers have seen large upswings in popularity in recent years. River cruises, in particular, tend to be more expensive and exclusive, as the ships used on rivers typically carry less than 200 passengers on average. This segment of the cruise market has grown 10 percent annually for the past five years, with vacation packages often costing between 2,000 US dollars or more per person. The five-star cruise fleet is now setting its sails for new destinations in the Far East with river cruises in Burma, Cambodia, Laos and Vietnam on offer. The main challenge remains to source these affluent clients for cruises in the region, given the additional air travel costs and flying times faced.

Staying in Private Residences

Staying in private residences and villas rather than five star hotels continues to increase in popularity, as an increasing number of wealthy travelers wish to live like the (affluent) locals. Airbnb.com, for example, has evolved from a couch-surfing web service into a website where online travelers can book apartments, rooms in private homes or treehouses, and even aboard moored boats. For those looking for exclusive residences, online private luxury vacation clubs such as American Express’ Inspirato and Portico have cropped up, with amenities and services offered. These clubs limit the risks faced by travelers by charging hefty initiation fees, inspecting every property offered, along with the provision of daily housekeeping and on-site concierge services, with the option to add personal chefs.

Destinations in the News

Traveling to destinations making news headlines is another trend gaining ground. Brazil, for example, will not only be home to the 2014 World Cup. Rio de Janeiro will be hosting the 2016 Summer Olympics. The city also made the news after it was voted number six in «Cities That Excite» – the 2013 Travel Dreams Survey compiled by Virtuoso, a network of luxury travel advisors (Paris was voted number one).

New Zealand also continues to attract travelers thanks to the «The Lord of the Rings» trilogy, by English author J.R.R. Tolkien, being made into a set of blockbuster movies there. The movie set of Hobbiton, the fairytale village of Tolkien’s imagination, located on a farm on the North Island has been entirely reconstructed and can be seen as it appeared in the films.

Amsterdam is yet another destination in the news, thanks to the city’s 400-year anniversary celebrations of its canal district, the 125th birthday of the city’s renowned concert hall – the Concertgebouw – and the reopening of the fully renovated Rijksmuseum after a 10-year closure, just in time for Van Gogh’s 160th birthday. A couple of minutes away the recently revamped Stedelijk Museum Amsterdam, dedicated to modern and contemporary art, can also be visited.

The Chinese Tourist Shopping Luxury Products

Among these trends, a new category of high-end travelers should not be overlooked: the Chinese. For the first time, the number of Chinese US dollar millionaires exceeded the 1 million threshold in 2011 and is estimated to reach 2.4 million by 2016. Rising disposable incomes, a relaxation of visa regulations and an appreciating renminbi boosted Chinese tourism spending to record levels last year, to 102 billion dollars from 13 billion dollars in 2000.

«The Chinese like to combine tourism with shopping. The main reason behind this splurge in luxury products abroad is, however, the high level of domestic taxes. Chinese import duties can reach up 60 percent on some luxury cosmetic products and alcohol, add a consumption tax of up to 30 percent and a VAT rate around 17 percent on top,» said Andreas Tomaschett, a senior equity analyst at Credit Suisse. The progressive appreciation of the renminbi versus the euro and the dollar has continued to widen the price gap. The average price of luxury goods in China is 45 percent higher than in Hong Kong and 72 percent higher than in France, according to estimates by the Chinese Ministry of Commerce. «Concerns about product quality and counterfeits is another reason pushing Chinese tourists to buy luxury products abroad. A limited access to a luxury brand’s product selection and delays in distribution of the newest collections also incite them to shop abroad,» Tomaschett added.