11 famous luxury resorts that will become cheaper to visit in 2024

Rising interest rates, massive layoffs and a struggling economy could dampen demand for travel in 2024. This means there are some luxury destinations at discounted prices for those planning to travel next year, reports GoBankingRates.

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Top travel agents and travel experts have revealed some of the luxury holiday destinations that could become cheaper next year. Here are 11 luxury travel destinations that could be heavily discounted in 2024.

Cape Town, South Africa

Discover Italy's Christian Miller believes competition will be the driving force behind price declines in Cape Town next year.

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“Known for its stunning scenery and vibrant culture, Cape Town has long been a favorite among luxury travelers,” said Miller. “From wine tasting in beautiful countryside to safari adventures that take you up-close to Africa's majestic wildlife, this destination offers something for everyone. With increased competition among luxury hotels and resorts, prices are expected to come down next year. This is the perfect time to plan your dream holiday in Cape Town.”

Bora Bora, French Polynesia

One of the most luxurious destinations in the world, Bora Bora may become available next year.

“This remote island located in the South Pacific offers unparalleled natural beauty and solitude for those looking for a true escape,” Miller said. “Although accommodation prices may be high, prices are expected to be more competitive next year due to the decline in tourism.”

Phuket, Thailand

Thailand has a beautiful coastline and could be home to great deals for those looking for a luxury holiday next year.

“With stunning beaches, vibrant nightlife and incredible cuisine, Phuket has long been a popular destination for travelers,” Miller said. “However, given the current economic climate, prices are expected to fall next year, making it an even more attractive option for those seeking a luxury holiday.”

Bali, Indonesia

Bali may see some lower prices due to lower demand.

“Known for its stunning landscapes, spiritual culture and luxury resorts, Bali has become a popular destination for those seeking a luxury vacation,” Miller said. From private jungle villas to upscale beach resorts, Bali has no shortage of luxury options.

“However, given the current decline in tourism, prices are expected to become more affordable next year. This is the perfect time to enjoy a luxury holiday on this beautiful island.” - he said.

“Bali is a popular destination for tourists thanks to its beautiful beaches, vibrant culture and hospitable locals,” said Fred Hoffman, travel expert and founder of The True Wilderness. “However, due to the COVID-19 pandemic and the closure of international borders, tourism in Bali has suffered significantly. As a result, prices for luxury villas, resorts and attractions are expected to become more affordable next year. This gives travelers the opportunity to enjoy the beauty of Bali without spending money.”

Santorini, Greece

Greece is a picturesque destination, and prices for travel there can be reduced.

“Known for its stunning whitewashed buildings, breathtaking views and romantic sunsets, Santorini has been a popular destination for travelers for many years,” Miller said. “Although prices may be high during the peak season, prices are expected to fall next year due to the decline in international tourism. This is the perfect time to experience the luxury of this Greek island without breaking the bank."

“Greece is a Mediterranean paradise renowned for its ancient history, stunning beaches and delicious cuisine. However, due to the financial crisis of recent years and the effects of the pandemic, Greece is expected to become a more affordable luxury holiday destination next year. This means travelers can experience everything Greece has to offer – from picturesque islands to charming towns and villages – without breaking the bank,” Hoffman added.

London, England

Geoff Henninger, travel agent and founder of Simple Travel Hacks, said 2022 and 2023 had been a busy year for tourism in London, so demand could slow down in 2024.

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“Thousands of people came to London for the queen’s funeral and the king’s coronation,” Henninger said. “Most of these people won’t want to come back so soon.” With less demand, prices should be lower.”

Paris, France

Paris is one of the most romantic and expensive holiday destinations. But for some unexpected reason there may be discounts.

“Bed bug infestations in 2023 are a very hot topic among travelers right now,” Henninger said. — Although I don’t have statistics yet, many people told me that they canceled their trip to Paris. This story is on the minds of many travelers, so we could see a decline in bookings for at least the first half of 2024. This will lead to lower prices."
Maui
Maui is beautiful and expensive, and recently suffered a catastrophic fire that destroyed the historic town of Lahaina.

“The destruction of Maui has caused many people to cancel trips to the island,” Henninger said. “The decline in tourism for at least the first half of 2024 should keep prices lower than usual as the island fights to return to normal.”

US Virgin Islands

Hoffman expects prices to decline due to natural disasters.

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“The U.S. Virgin Islands are a group of islands located in the Caribbean Sea,” Hoffman said. - It is made up of three main islands - St. Croix, St. John and St. Thomas - known for its stunning beaches, clear blue waters and rich cultural heritage. Due to the impact of natural disasters such as hurricanes and restrictions imposed due to the COVID-19 pandemic, the U.S. Virgin Islands has seen a decline in tourism. As a result, prices for accommodation, entertainment and dining are expected to become more affordable compared to previous years.”

Maldives

“The Maldives is a fabulous destination known for its crystal clear waters, white sand beaches and luxurious villas. However, the Maldives has also been hit by a decline in tourism due to the COVID-19 pandemic. To attract more tourists, many resorts and hotels are offering discounts and packages for the following year. So now is the perfect time to plan a luxury vacation on this idyllic island,” said Hoffman.

Costa Rica

“Costa Rica is a Central American country known for its lush tropical forests, rich wildlife and breathtaking beaches,” Hoffman said. — With tourism declining due to the pandemic, prices for luxury accommodation and entertainment are expected to become more affordable next year. This gives travelers the opportunity to have a luxurious and adventurous vacation without spending a fortune. From ziplining through the jungle to relaxing on pristine beaches, Costa Rica has something for every luxury lover.”

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