With the luxury travel market valued at $1.4 trillion in 2023 and expected to top $2 trillion by 2030, according to ILTM, high-end travel agencies and hotel development groups alike are trying to forecast the next trending travel destination.
A recent report from travel booking platform Skyscanner identified the Costa Rican city of Limón on the Caribbean Coast as the most rapidly rising luxury destination, while the Middle Eastern nation of Saudi Arabia will see two new five-star hotel brands of Atlantis and One&Only open in the port city of Jeddah in the coming years.
A new luxury trends report from travel advisor network Virtuoso identified South Korea as a country where high-spending travelers increasingly seek luxury experiences. Government statistics show that the East Asian nation recorded a 48.4% jump in international visitors — among them 1.34 million Americans — from 2024 to 2025.
New Rosewood, Mandarin Oriental, and Ritz-Carlton properties are currently all under construction in Seoul, with slated opening dates over the next five years.
Seoul searching: South Korea emerges as top luxury destination for 2026 and beyond
“With frontage along Noksapyeong-daero, one of Seoul’s main thoroughfares, The Parkside Seoul serves as a connector to both the city’s traditional business district to the north and the modern Gangnam area to the south,” Rosewood said of the new property opening in the Yongsan-gu district in 2027.
The Virtuoso report also identifies countries including Italy, Japan, and Greece as the top global destinations for the coming year, while South Africa, Australia, and Canada also factor in the top 10.
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Italy, Greece, and the Bali island in Indonesia are the top trending destinations for honeymooners. Antarctica, Iceland, and South Africa also have emerged as 2026 adventure destinations.
“Rising” destinations defined as seeing the biggest increases in interest among luxury travelers include Norway, Morocco, Vietnam, and Kenya, among others.
An earlier version of the Luxe Report published in the fall named trends such as “Main Character Synergy,” which pushes travelers to destinations they saw in films, shows, and even music videos.
In South Korea’s case, this is still tied to the rise of K-Dramas and K-Pop over the last decade and, most recently, the 2025 film “KPop Demon Hunters.”
“Everything from private transfers and Michelin-level dining to resort buyouts”
On the luxury end, there has also been an increase in demand for what Virtuoso classifies as “unlimited luxe” experiences in which travelers pay for fully composed itineraries but with high-end experiences like fine restaurants, spa treatments and private jet transfers to remote nature.
In South Korea, Jeju Island south of the mainland in the Korea Strait has also been attracting a growing number of luxury travelers.
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“Once viewed as mainstream convenience, ‘all-inclusive’ has been elevated to cover everything from private transfers and Michelin-level dining to resort buyouts where chefs, wellness experts and guides are entirely at the guest’s disposal,” the report writes of the travel trend.
“Celebration travel fuels demand, with milestone birthdays, anniversaries and family gatherings driving interest in private yachts and secluded estates.”
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