Cryptocurrency booking tipped among 2022 luxury trends

That was one prediction from trends forecaster Globetrender at the TTG Luxury Travel Summit at the Biltmore Mayfair on Monday (18 October).

Founder Jenny Southan set out a host of ways in which the pandemic has changed the mindset of the luxury traveller.

“Going abroad will still be more complicated than pre-pandemic, and taking lots of flights doesn’t look good [environmentally],” Southan explained.

Post-pandemic, many travellers will be looking to recreate “the good old days”, taking Belmond train journeys or staying in historic properties.

There will also be a surge in desire to travel responsibly and support local communities she stated, though, paradoxically, the private jet sector will flourish, after having gone “out of fashion” after the last financial crisis.

Southan advised delegates that accepting cryptocurrency such as Bitcoin could become a competitive advantage, being quick and cheap, especially for companies taking payments from international clients.

“One hundred million people are using cryptocurrency but don’t have a lot to spend it on,” she pointed out. Private jet firm PrivateFly has seen crypto grow to represent 14% of its payments since starting to accept it in 2014, she added.

She warned that the sector should beware of the mass expiration of vaccine passports next year – but suggested the wealthy won’t have a problem getting hold of a booster jab.

Southan also noted that luxury travellers will not enjoy as much flexibility in booking terms as they have during the pandemic.