New travel trend of the super rich

Photo caption — Central Post Office, a unique architectural work in the center of Ho Chi Minh City. Illustration photo: Hong Dat/VNA

Heli-skiing in Antarctica for $2.2 million. A polar bear safari in Svalbard, Norway for $300,000. Or tracking snow leopards in the Himalayas with famous explorers for $100,000.

These high-cost travel experiences are part of the “quiet luxury” trend, which originated in the fashion world, with expensive, high-end clothing often without brand names attached.

Now, the trend is spilling over into the travel industry, as the wealthiest 1% increasingly forgo popular destinations for more secluded getaways.

Unusual destinations

Jaclyn Sienna India, founder of luxury travel company Sienna Charles, says she considers herself a long-time “believer” in the trend of quiet luxury, with less fanfare and more connection.

While many rich people may enjoy the boulevards of Paris or the shores of Monaco, Sienna India "escapes" to Ho Chi Minh City, Vietnam once a year.

Sienna India says her clients are more focused on family and their mental health as the world becomes more stressful, so they are looking for more connection than splurge when they travel.

But another important aspect of the quiet luxury trend is security. According to Sienna India, celebrities are often targets for thieves, so high-profile events like the Super Bowl are less appealing. As a result, customers are looking for more remote destinations.

Sienna India said her company recently booked a billionaire family on an island in a villa in Brazil. It’s not usually a destination that comes to mind, but Brazil is a culinary paradise and has incredible health care.

Africa is another region where clients can seek tranquility, according to Sienna India, who said she accompanied former US President George W. Bush on a personal trip to Ethiopia in 2015.

Exclusivity and Privacy

Roman & Erica is a luxury lifestyle company run by husband and wife team Erica Jackowitz and Roman Chiporukha. Ms. Jackowitz, a New York native, likens quiet luxury to the understated elegance of cashmere, a style that contrasts with the “Chanel on the chest” trend of the past.

Ms. Jackowitz said her and her husband’s company manages the lifestyle needs of 30 families, from politicians and tech CEOs to hedge fund executives, for whom quiet luxury travel is about exclusivity and privacy.

The Covid-19 pandemic has fueled demand among wealthy travelers for meaningful experiences — which can range from recommendations on where to take a quiet morning hike to hosting a tennis match with Roger Federer.

In addition, serving the super-rich is facing a new challenge.

According to the Henley & Partners 2023 report, there are 28,420 millionaires worldwide, defined as people with investable assets of at least $100 million. This is nearly 12% higher than the 2022 estimate and double the number of assets counted in 2003.

Ms. Jackowitz said her clients never opt for conventional cruises because they prefer private charters. In fact, the recent boom in the charter market has made it impossible for her to secure last-minute bookings.

“You’re now competing with 10 other people traveling with friends and family, and there are a lot of people who can afford to have these types of experiences,” she notes. As a result, affluent travelers are looking for new, quieter spots.

Of particular note is space tourism. Roman & Erica bid $50 million for a spot on the first fully private astronaut corps. Space travel is so in demand that Chiporukha founded SpaceVIP specifically to meet the demand.

Meanwhile, private space tourism company Space Perspective plans to start flying six-hour flights on its spacecraft next year. So far, 50% of bookings have been for the eight-person capsule, which carries a list price of $1 million.

TN (according to News)

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