Wealthy travellers in 2025 shift spending to travel and wellness over luxury goods? What TTW report says you need to know

Published on February 3, 2025

By: Paramita Sarkar

The world’s wealthiest individuals are redefining luxury in 2025, favouring travel and wellness over traditional luxury goods.

A new report from financial services firm Charles Schwab reveals that affluent consumers are cutting back on luxury shopping, high-end vehicles, and education costs while significantly increasing budgets for vacations, wellness tourism, and personal health.

This shift aligns with global travel and economic trends outlined by the World Tourism Organization (UNWTO) and OECD Tourism Outlook, which indicate a rising preference for experience-driven spending among high-net-worth individuals.

Travel Becomes the Top Spending Priority

Among individuals with at least $1 million in investable assets, 40% plan to travel more in 2025, making it their top discretionary spending priority.

This trend is reshaping the tourism industry, with luxury travel providers offering exclusive experiences, such as:

• Private jet world tours – Bespoke multi-destination itineraries with personalized services.
• Luxury train journeys – High-end rail travel through Europe, Asia, and North America.
• Wellness retreats – Spa resorts, longevity programs, and holistic health experiences.

Meanwhile, 31% of wealthy consumers say they will spend less on luxury goods, signalling a shift from the “quiet luxury” trend of 2024.

This shift reflects a broader global movement toward meaningful experiences over material possessions.

Health and Wellness Investments Surge

Aside from travel, 26% of affluent consumers plan to increase spending on health and wellness, fueling growth in medical tourism, personalized healthcare programs, and spa retreats. Wellness-focused travel is gaining momentum, with affluent individuals seeking:

• Medical check-ups at top global clinics.
• Exclusive fitness and longevity retreats.
• Integrative wellness resorts combining luxury and health-focused experiences.

Reports from the Global Wellness Institute indicate that wellness tourism will reach $1.3 trillion by 2025, driven by consumer demand for healthier lifestyles and preventative healthcare solutions.

Wealthy Consumers Favour Real Estate Over Cars and Education

In addition to travel and wellness, high-net-worth individuals are prioritizing real estate investments and home upgrades. About 23% of the wealthy plan to renovate or expand their properties, seeing long-term value in real estate over fleeting luxury trends.

Conversely, spending on:

• Education is set to decline by 26%.
• Luxury vehicles will see a 20% decline in purchases.

According to the European Central Bank), this reflects a shift in wealth management strategies, as the super-rich prioritize stability, asset appreciation, and quality of life over material luxury purchases.

Wealthy Investors Remain Optimistic About the Economy

Despite global uncertainties, 56% of high-net-worth individuals remain optimistic about their financial portfolios, while 64% plan to adjust their investments in the coming months.

The focus is on refining investment strategies rather than making drastic shifts, ensuring long-term financial security.

The Future of Luxury: Meaningful Experiences Over Material Goods

These findings underscore a fundamental transformation in the luxury market—one where wellness, travel, and personal enrichment take precedence over traditional status symbols.

As affluent consumers seek transformative experiences, the tourism and wellness industries are poised for substantial growth, adapting to new expectations in high-end spending.

With private travel, immersive wellness programs, and luxury experiential tourism on the rise, 2025 marks a new era for luxury lifestyles, redefining how the wealthy invest in their well-being and global exploration.