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Maldives tops the list for Australian honeymooners – Virtuoso Luxe Report

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Maldives is the top of the list for Australian honeymooners according to the 2017 Virtuoso Luxe Report Australia. The findings are based on the luxury trends being seen by the network’s Australian based advisors for the coming year.

The annual report, which for the first time included a breakdown from the Australian market, is a trend predictor for luxury and experiential travel globally. Also for the first time, the report looks at destinations which are rapidly changing or at risk of disappearing in the coming decade.

Here are Virtuoso’s travel recommendations for 2017:

  • Head now for destinations with a sense of urgency: ones that are changing rapidly or even disappearing. Cuba tops the list as both an emerging destination and one in danger of losing its distinctive character. The Arctic is another must-see, with melting glaciers impacting the region’s unique wildlife. Closer to home, the Great Barrier Reef ranks second in the list of most endangered.
  • Seek out active journeys, as adventure travel soars even higher this year as a dominant trend. Virtuoso’s Australian advisors are rating South African safaris, exploring Vietnam and the Galapagos Islands, and New Zealand as a closer adventure option.
  • Take the opportunity to live like a local by with a cooking class, perusing the markets, hunting for truffles or even opting for a private, in-home dining experience.
  • Pack the bathers as island destinations are the top-tip for honeymooners. The Maldives offers the No.1 romantic get away and Fiji provides a destination closer to home for Australian newly weds.

“We are starting to see movement outside of the mainstream travel agenda with people taking the current global turbulence as a prompt to look all the way down their bucket list,” Virtuoso Asia Pacific Managing Director, Michael Londregan said of the report.

“Instead of sticking with their tried and true destinations, people are looking at some options further down the list, and that’s why we are seeing other less common options gaining momentum.”

“Lets face it, there is no point having a bucket list if you don’t look beyond your top three destinations.”

Another trend identified in the report is a move towards longer international holidays and shorter domestic trips.

“People are starting to think about their holidays in really distinct blocks because their asset is not the money they have in the bank, it’s how many days they have off each year.”

“People are taking their 20 days of holiday and planning out their year with a two week adventure, three long weekends, and a family get away for example – we are seeing people thinking more strategically about investing their travel time.”

“No longer are we looking for what’s on special or just going where we normally go, people want to be more imaginative  – the world is their oyster and we no longer just live in one corner of it.”

Some of the key findings are

Most popular honeymoons
  1. Maldives
  2. Fiji
  3. Italy
  4. Bali
  5. Thailand
Top Endangered/Changing Destinations
  1. Cuba
  2. Great Barrier Reef
  3. Antarctica
  4. Venice
  5. Maldives
Biggest trends for 2017
  1. Family and multigenerational
  2. Active and adventure / Luxury cruise
  3. Celebration
Length of trip with increased demand for in 2017
  1. 2 + weeks international
  2. 3-5 day domestic
  3. Week long international

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Photo courtesy Club Med

 

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News

Maldives tourism poised for strong growth in 2024, with 2 million visitors expected

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Maldives is setting its sights on welcoming a record-breaking 2.01 million tourists in 2024, a 7.9% increase compared to anticipated arrivals this year. This optimistic forecast, released by the Maldives Association of Travel Agents and Tour Operators (MATATO), paints a vibrant picture of tourism industry thriving next year.

Several key factors are driving this projected surge:

  • The Resurgent Chinese Market: With borders reopening and travel restrictions easing, Chinese tourists are expected to flock back to the Maldives in droves, injecting significant energy into the sector.
  • New Tourist Delights: The Maldives is steadily expanding its offerings, with new resorts, attractions, and experiences emerging to cater to a wider range of visitors.
  • Smoother Skies Ahead: The completion of the Velana International Airport’s new terminal will boost capacity, making it easier for more tourists to reach the paradise islands.
  • Luxury’s Enduring Allure: The Maldives’ reputation as a premier luxury destination remains undimmed, attracting high-spending travelers seeking unforgettable experiences.
  • Weddings and Honeymoons in Paradise: The Maldives’ romantic charm is drawing ever-increasing numbers of couples seeking picture-perfect wedding and honeymoon destinations.

Looking geographically, Asia is expected to dominate the tourist influx, accounting for 60% of arrivals. Europe, America, and other regions are also projected to contribute significantly, highlighting the Maldives’ diverse appeal.

MATATO’s forecast is based on a meticulous analysis of data from various sources, including past tourism trends, industry forecasts, consumer sentiment surveys, and even cutting-edge AI technology.

MATATO acknowledges potential risks that could affect the rosy outlook. A global economic downturn, rising travel costs, and political instability are factors to be monitored closely.

With its stunning natural beauty, luxurious offerings, and strategic initiatives, the islands are poised to welcome a record number of visitors, reaffirming its status as a dream destination for discerning travelers.

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Maldives ranks 4th among world’s most popular “old money” destinations

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The Maldives has secured its place among the most sought-after “old money” destinations in the world, ranking an impressive fourth in a recent analysis conducted by SlotTracker.com. With over 12 million Instagram hashtags (12,777,931), the Maldives has emerged as a paradise for those seeking a luxurious and refined getaway.

Renowned for its exclusive resorts, pristine beaches, and private water villas, the Maldives offers an ideal setting for indulging in opulence and tranquillity. The timeless natural beauty of the archipelago, coupled with high-end accommodations and a variety of water-based activities, further adds to its allure, attracting discerning travelers in search of sophistication.

The concept of “old money” or “quiet luxury” has gained significant attention in recent times, with TikTok’s latest trend garnering over 2.5 billion views for the hashtag #oldmoneyaesthetic. This trend embodies a sense of understated elegance, free from overt displays of wealth, and draws inspiration from the refined style of celebrities like Sophia Richie and the hit TV show “Succession.”

Driven by curiosity about this trend, SlotTracker.com conducted a thorough analysis of more than 400 million Instagram hashtags to identify the destinations that epitomize refinement and elegance. From enchanting European cities to exotic havens in the Caribbean, their findings unveiled the most popular “old money” destinations worldwide, captivating travelers with unparalleled experiences of luxury and exclusivity.

The Maldives’ fourth-place ranking showcases the destination’s enduring appeal and its ability to deliver a quintessential “old money” experience. The abundance of Instagram hashtags dedicated to the Maldives indicates its popularity among influencers and travelers seeking to showcase their elegant retreats and experiences in this tropical paradise.

With its breathtaking turquoise waters, pristine white sand beaches, and idyllic private villas perched above the ocean, the Maldives offers an escape from the hustle and bustle of everyday life. The luxurious resorts scattered across the archipelago cater to the most discerning guests, providing personalized services, gourmet dining, and world-class amenities.

Whether it’s indulging in a rejuvenating spa treatment, embarking on a romantic sunset cruise, or exploring the vibrant marine life through snorkeling or diving, the Maldives offers a range of activities that complement the serenity and sophistication of the destination.

As the Maldives continues to attract global attention as a premier “old money” destination, the local tourism industry is poised to benefit from the discerning travelers seeking luxurious experiences. The Maldivian government and tourism authorities can leverage this recognition to further enhance the destination’s offerings, promoting sustainable luxury tourism that preserves the natural beauty and cultural heritage of the islands.

The fourth-place ranking among the world’s most popular “old money” destinations reinforces the Maldives’ position as a leading luxury travel hotspot. Travelers from around the globe are enticed by the Maldives’ timeless charm, and the destination’s commitment to providing an extraordinary blend of tranquillity, sophistication, and exclusivity continues to set it apart in the world of luxury travel.

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Business

Maldives central bank says tourism revenue up 88 percent in Q1-2018

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Maldives tourism receipts recorded an increase of 88 percent in the first quarter of the year, a survey by the country’s central bank has shown.

In the Quarterly Business Review conducted from April 4-26 by the Maldives Monetary Authority (MMA), majority of the respondents from the tourism sector indicated an increase in total revenue and resort bookings in Q1-2018 when compared with  Q4-2017 — net balances of 88 percent and 58 percent respectively. As for average room rates, 81 percent of the respondents reported an increase in Q1-2018 in comparison to the previous quarter.

“[It was a reflection] of the peak season of the tourism industry,” the survey, which was participated by 100 enterprises from the major sectors of the economy, read.

Looking at employment numbers of the tourism industry during the review quarter, 53 percent of the respondents indicated that their employment remained unchanged, while 39 percent reported an increase. With regard to business costs, 77 percent and 60 percent of the respondents reported an increase in labour-related costs and input prices respectively.

According to the survey, half of the respondents from the tourism industry indicated no change in their capital expenditure, while 80 percent of the respondents reported their access to credit remain unchanged in Q1-2018 from Q4-2017. Reflecting these developments, 42 percent of the respondents cited an increase in the financial situation of the company, while a majority reported no change, it said.

“Following the seasonality in the tourism sector, the majority of the respondents expect total revenue, resort bookings and average room rate to decrease in Q2-2018 compared with the review quarter, as indicated by the negative net balances,” MMA said, in its survey report.

“… access to credit is also expected to remain unchanged. With regard to future investments, 31 percent of the respondents anticipate an increase in capital expenditure, while the majority foresee their capital expenditure to remain unchanged in Q2-2018. As for the financial situation, 54 percent of the respondents expect it to tighten, while 44 percent anticipate it to remain unchanged in Q2-2018.”

The central bank’s estimates are in line with growth trends reported by other authorities as well as independent research firms.

According to official figures released by the tourism ministry, total arrivals for the first five months of the year increased by 10.6 percent to reach 632,729 compared to the 572,318 in the same period of last year.

Meanwhile, data compiled by leading global market research and analysis firm STR has shown that Maldives posted the highest occupancy level for a Q1 since 2014 thanks to the highest Q1 demand increase in the destination since 2010.

According to STR’s Asia/Pacific hotel performance report for Q1 2018, occupancy in the Maldives during the January-March period stood at 76.7 percent — an year-over-year increase of 7.6 percent. This represents the highest absolute occupancy level for a Q1 in Maldives since 2014 thanks to the highest Q1 demand increase in the country (10.6 percent growth) since 2010, it said.

STR data also showed that Average Daily Rate (ADR) in the Maldives increased by 1.6 percent to MVR 12,569.93 (USD 815.10) in Q1, while Revenue Per Available Room (RevPAR) in the destination also recorded a 9.4 percent growth to reach MVR 9,637.91 (USD 624.97) during the first three months of the year.

However, domestic political instability has hit tourist arrivals, with numbers posting declines for two consecutive months.

Maldives attracted a wave of bad publicity following the recent declaration of a state of emergency, which ended in March. However, the political turmoil was strictly restricted to the capital city, away from the resorts and local islands where holidaymakers stay in.

However, MMA has projected the performance in the Maldives tourism industry to firm up during the year despite the current political instability.

Over the past five years, dozens of uninhabited islands have been leased to local and foreign resort developers. Several international brands have entered into the market, increasing the number of resorts to 120. That number is set to increase as the government has announced the opening of some 20 new resorts over the next two years.

Along with the new resort openings come the challenge of increasing demand from budget travellers who choose guesthouses over luxury resorts that the Maldives is known for. The guesthouse sector has rapidly expanded with over 450 guesthouses in operation today.

The government has announced new steps to maintain a structured growth in tourism, including a slowdown in leasing islands for resort development and increased marketing efforts in key markets such as China and the Middle East in order to reach an ambitious target of a record 1.5 million tourist arrivals this year.

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