Travel priorities among India’s Ultra-High-Net-Worth Individuals (Ultra-HNIs) are shifting dramatically, with tailor-made, experience-based trips now dominating conventional luxury vacations. Kotak Private’s Top of the Pyramid 2024 report documents the new trend, citing that over half of Ultra-HNIs have enhanced expenditures on international leisure travel.
Foreign Travel Captures Budget Share
The report, carried out in collaboration with Ernst & Young LLP (EY), says that 7% of overall yearly expenditure among Ultra-HNIs is now going into travel. Entrepreneurs are the most active category, with 69% of them experiencing an uptick in overseas leisure expenditure. Based on a survey of 150 Indian high-net-worth individuals, the report provides insights into changing lifestyle preferences.
Beyond Relaxation: In Pursuit of the Uncommon
The vacation for these tourists is now a means not of rest in and of itself — but a forum for expression of self, for social difference, and cultural enrichment. More sophisticated tastes incline towards new individual experiences: a stay at isolated private islands within the Maldives, adventurings out amongst Icelandic volcanoes, or hotel stays at remote underwater digs. These actions become carefully presented for the allure of uniqueness and specialty.
Adventure Meets Comfort
Expedition cruises in Antarctica, castle stays in Europe, and luxury African safaris are some of the travel types that are gaining traction. They offer physical discovery along with luxurious comfort, reflecting a need for both discovery and convenience. Personalization and anonymity continue to be at the core of the Ultra-HNI travel experience.
Wellness and Longevity in Focus
Another trend that the report observes is the increase in wellness-focused tourism. Ayurvedic resorts in Kerala, anti-aging treatments in clinics in Europe, and fitness-focused vacations are in greater demand. Such journeys combine health, consciousness, and renewal — highlighting the larger lifestyle change towards all-rounded well-being.
Redefining Luxury Through Experience
Top of the Pyramid research tells us that in India’s Ultra-HNIs, travel today is inextricably linked to personal evolution and world consciousness. It exists as a type of recreation as well as an instrument for contemplation, developing taste, and social positioning.
Instead of old-fashioned displays of wealth, the new luxury is characterized by access to exclusive experiences, cultural richness, and transformation — a radical redefinition of what travel means for India’s richest citizens.