What a rollercoaster the last 4 years have been. The years 2020-2024 we have seen it all in every industry. Travel industry had a sharp fall and then came 2023 with a sharp jump. Let me tell you - in the 30 years I have been in this business having my own travel agency - 2023 was the best year Ever. Clients seemed to be determined to travel no matter what was the price tag and demand for high-end cruises or tours was significant. There was no stopping them from making last minute travel plans and none have cancelled due to illnesses or other reasons. Everyone booked a trip or two in 2023. They even made plans and posted deposits for 2024/25. High-end clients spent a lot of money for their trips and made sure they booked with the experienced travel agent to guide them. They understood the value of working with an advisor.
The 2024 started strong and by May the immediate rush to travel has passed, and now we are seeing back to normal pre-pandemic times.
It’s inevitable, but not surprising given the combination of reasons. So it’s the economy, the election year, the unrest in the world and of course with popular destinations being so overcrowded. Those factors make people rethink their travel plans.
I think we are going to see more closer to home and last minute travel with leading destinations in the Caribbean, Mexico and Alaska. Not so much Hawaiian Islands since prices have skyrocketed in last few years.
Guided tours to Japan and Portugal will still be strong, with river cruising through Europe, US and Asia will continue to lead the luxury market. Cruises on Nile are on the rise in 2025/26 due to the Museum opening. Egypt has been a new buzz travel destination, but I would say wait until that part of the world settles down or at least make you plans and make sure you your deposit is refundable. For the most of us there will be more of the convenience destination versus a bucket list far away land. Family reunions, destination weddings and honeymoons are on a rise with plenty of choices at all-inclusive Mexican resorts and Tahiti are on a list for many in 2025.
