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INSIGHTS - TOP 5 LEARNINGS FROM VIRTUOSO TRAVEL WEEK 2025 (United States)
When industry leaders converge to analyse market trajectories, strategic insights emerge – and occasionally, standing ovations. |
Category: North America & West Indies / Carribean islands - United States - Industry economy
- Exclusive experiences
- Trends / Expert's advice - Calendar
Article written by Sonia Taourghi on Tuesday 26 August 2025
 David Kolner, Executive Vice President of Virtuoso, presents projections for creating 100 million jobs by 2035 - Virtuoso Travel Week, Las Vegas
Photo credit © Sonia Taourghi / Journal des Palaces The great American travel paradox
Whilst every other region on the planet is experiencing robust growth in international arrivals – from Asia's impressive 18% surge to Africa's steady 11% climb – the United States finds itself in the rather awkward position of being the only major destination trending downward. North America posted an -8% decline in international visitors during the first half of 2025, making it the sole underperformer in a sea of global optimism.
This presents a fascinating contradiction: America dominates global wealth creation (over 1,000 people become millionaires daily), holds 40% of the world's high-net-worth individuals, and yet struggles to attract international visitors. The disconnect between domestic wealth and inbound tourism appeal suggests deeper issues around positioning, perception, or perhaps policy that the industry would be wise to address. After all, when your own citizens are flush with cash, but foreigners aren't clamouring to visit, something's somewhat amiss.
The millionaire manufacturing boom
The wealth creation statistics presented at Virtuoso Travel Week read like something from a particularly optimistic economist's fever dream. By 2029, an additional 5.34 million people globally will join the millionaire ranks – a 9% increase that translates to roughly 14,600 new millionaires every single day. The so-called "Everyday Millionaires" (those with $1-5 million USD in assets) have quadrupled since 2020, reaching 52 million individuals.
This isn't merely about numbers in spreadsheets; it represents a fundamental shift in the luxury travel market's addressable audience. BCG's projection that leisure travel will triple to $15 trillion by 2040 suddenly seems less ambitious and more inevitable when viewed through the lens of this wealth explosion. The industry faces the delightful challenge of scaling luxury experiences for an exponentially growing customer base whilst maintaining the exclusivity that defines premium travel.
The multi-generational travel revolution
Perhaps the most intriguing development is the emergence of what Virtuoso terms "7 Generations Travelling at Once." Baby Boomers control a staggering $83 trillion in assets – five times more than Millennials – yet the impending wealth transfer promises to reshape travel preferences entirely. High-net-worth Gen Z respondents have made international travel their number one wish list item, prioritising experiences over material possessions.
This generational convergence creates both opportunity and complexity. Boomers prefer avoiding overtourism and contributing to local economies, whilst Gen Z leads the charge on environmental responsibility and cultural sensitivity. Millennials fall somewhere between, seeking detailed planning and legal compliance. The savvy travel advisor must now master the art of multi-generational service delivery – no small feat when preferences span from detailed itineraries to Instagram-worthy adventures.
The sustainability shift
Two-thirds of luxury travellers express interest in sustainable travel choices, with 42% willing to pay premiums for environmentally responsible companies. Yet this commitment varies dramatically by generation and manifests in surprisingly practical ways. Rather than the virtue signalling one might expect, sustainability is evolving into a sophisticated differentiator that aligns with broader values around authenticity and local engagement.
The challenge lies not in whether to embrace sustainable practices, but in how to communicate them effectively without appearing performative. Virtuoso's planned Sustainability Summit for 2026 suggests the industry recognises that environmental consciousness has moved from nice-to-have to must-have – particularly as younger wealth holders inherit decision-making power.
The human connection renaissance
Matthew Upchurch, Virtuoso CEO, observed that "tech needs human connection to work" proved prophetic when examining Virtuoso's performance metrics. The network achieved a 12.1% increase in total sales during the first half of 2025, with advisors maintaining an extraordinary 99.5% client recommendation rate. Hotels led growth at 25.5%, whilst cruise bookings increased 9.3%—all facilitated by human expertise rather than algorithmic recommendations.
This trend reflects a broader market shift toward what Will Guidara calls "unreasonable hospitality"—the kind of personalised service that feels magical precisely because it defies scalability. As artificial intelligence handles routine tasks, human advisors are repositioning themselves as architects of extraordinary experiences. The data suggests travellers are willing to pay premium rates for this elevated service level, with average daily rates increasing 8.1% year-over-year.
The convergence of these trends points toward an industry renaissance where human expertise, sustainable practices, and multi-generational service excellence create a new paradigm for luxury travel. Those who master the art of being "unreasonably" committed to exceptional experiences whilst navigating an increasingly complex demographic landscape will find themselves ideally positioned for the trillion-dollar opportunity ahead.
As Guidara reminded the standing-ovation crowd: sometimes magic is just spending time on something others would call unreasonable. In luxury travel, unreasonable is exactly what clients are buying.
 50% of high-net-worth Generation Z respondents place international travel as their number one priority - Virtuoso Travel Week, Las Vegas
Photo credit © Sonia Taourghi / Journal des Palaces
 The phenomenon of 7 generations travelling at once is redefining the travel industry - Virtuoso Travel Week, Las Vegas
Photo credit © Sonia Taourghi / Journal des Palaces
 64% are interested in sustainable travel and 42% are willing to pay more for environmentally friendly practices - Virtuoso Travel Week, Las Vegas
Photo credit © Sonia Taourghi / Journal des Palaces
 Matthew Upchurch, Virtuoso CEO, presents data on market evolution - Virtuoso Travel Week, Las Vegas
Photo credit © Sonia Taourghi / Journal des Palaces
 Will Guidara presents his philosophy of unreasonable hospitality - Virtuoso Travel Week, Las Vegas
Photo credit © Sonia Taourghi / Journal des Palaces
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