New data from global luxury travel network Virtuoso indicates a robust era of growth for the high-end sector, even as travellers navigate a complex global landscape.
Despite identifying geopolitical conflict (93 percent) and political uncertainty (79 percent) as primary market shapers for 2026, the industry remains overwhelmingly optimistic, driven by resilient traveler spending and a shift toward experiential luxury.
Data presented by Virtuoso highlights that travel and tourism generated nearly $12 trillion in global GDP in 2025, accounting for 10 per cent of the world economy.
In the luxury segment specifically, experiences are currently outperforming physical goods.
This trend is reflected in European outbound travel projections through 2028.
France is expected to lead this momentum with international travel forecast to grow nearly 14 per cent in 2026, followed by steady upward trajectories in Germany, Italy, and Spain.
According to the January 2026 Virtuoso Pulse Survey, the majority of travel agencies (62 per cent) and preferred partners (60 per cent) report high levels of business confidence. This optimism is translating into a significant recruitment drive.
Some 75 per cent of agency owners plan to hire new staff in 2026. Hiring targets are split between full-time advisors (43 per cent), support staff (43 per cent) and independent contractors (36 per cent).
Agency owners attribute this bullish outlook to healthy client budgets, robust lead pipelines, and a selective rather than deterred luxury consumer.
While luxury travellers remain committed to their trips, Virtuoso has identified clear shifts in how they are spending their time and money.
About 55 per cent of travellers are showing heightened interest in undiscovered destinations. 39 per cent are requesting multi-destination itineraries and 36 per cent are prioritising immersive, slower-paced journeys.
While 34 per cent of agencies noted increasing price sensitivity, travellers are not cancelling plans.
Instead, they are adjusting the length of their trips (59 per cent) or the type of accommodation (56 per cent) to manage costs without sacrificing the travel experience itself.
Virtuoso Chairman and CEO Matthew D Upchurch, said. “I’m most excited about turning challenge into opportunity with a refreshed perspective on what’s possible, and I’m grateful for a community that believes in growing together. Deeper understanding brings clarity to three key drivers we see shaping what’s ahead: quality, globalisation and entrepreneurship."
"By focusing on greater flexibility in how we deliver value to Virtuoso’s diverse membership – and on the mutual commitments required to do so – we strengthen the support of our members, the ability to deliver for our partners and ensure we’re prepared to adapt and thrive in the years to come,” said Upchurch.