The island country is surging in international appeal and pulling more visitors into Southeast Asia. Image credit: Vista Global
Dubai-based private aviation group Vista Global is revealing ultra-high-net-worth individuals’ travel habits.
As unveiled during a panel on Southeast Asia’s luxury trends, Singapore is the region’s marquee destination. Across private charters, public flights, yacht trips and overall wealth, the market is on the rise, leading to the country’s influence rising on a global scale.
“With the rising trend of bleisure travel – where business and leisure are seamlessly intertwined – Singapore has consistently ranked among the top destinations for Vista’s clientele,” said Amy Yang, VP of marketing in APAC & IMEA at Vista, in a statement.
“Its unique blend of Asian cultures and its status as an international business hub make it an ideal gateway for today’s global travelers,” Ms. Yang said. “At a time where excellence standards and consistency are paramount – whether flying long-haul between Asia and the United States aboard the industry-leading Global 7500 or regionally within Europe or the Middle East on the popular super-mid-size fleet – Vista is uniquely positioned to meet this growing demand with a global infrastructure that spans 96% of the world.”
The parent company of VistaJet revealed its findings during an invitation-only event in Singapore, where representatives from the group, global real estate consultancy Knight Frank and Italian high-end shipbuilder Sanlorenzo spoke on the demand for luxury travel in Southeast Asia based on their respective industry expertise.
Regional dominance
Wealth in Southeast Asia is mostly concentrated in Singapore, leading to the locale becoming the market’s main luxury hub.
Throughout 2024, multiple major events have brought many high-net-worth and ultra-high-net-worth individuals to the island country. The Formula 1 Singapore Grand Prix saw local flight traffic boost by 168 percent compared to the daily average; American pop singer Taylor Swift’s Eras Tour, which had its only Southeast Asia stop in Singapore, garnered a 362 percent uptick.
The Singapore Yachting Festival overlapped with a nearly 50 percent jump in air traffic. Image credit: Vista Global
Yachting has also surged in popularity within the locale, with 4,000 private boats and yachts residing in 8 boat clubs and marinas along its coasts. Sanlorenzo’s experts noted that this growth on the water has also translated into increased purchases in the luxury sector overall.
“According to The Wealth Report 2025 (see story), Asia Pacific is predicted to account for 47.5 percent of the global UHNW population created between 2025-2028,” said Christine Li, head of research in Asia Pacific at Knight Frank, in a statement.
“The inaugural Family Office survey displays an increasing trend to view prime real estate as an attractive combination of steady income generation and capital growth potential,” Ms. Li said. “Confidence in Singapore’s prime assets is underscored by the significant UHNWI commercial property transactions for 2024/2025 – notably $520 million for the 21 Collyer Quay office building and $43 million for River Valley Apartments en bloc.
“This blend of strategic diversification, expectations for long-term asset appreciation and sustained high-value investment activity solidifies Singapore’s position as a premier destination for sophisticated capital.”
Market surge
While other nearby regions, such as China (see story), have flattened in terms of luxury sales, other Southeast Asian destinations are bucking trends to grow in notoriety among HNWIs and UHNWIs.
Kuching, Malaysia, has gained popularity due to its appeal to the rising sect of eco-tourists, as the city is surrounded by lush rainforests and orangutan sanctuaries. Meanwhile, Sorong, Indonesia, is surging for much of the same reasons, offering access to some of the most picturesque marine reserves on the planet.
The Maldives, Bali and Phuket are also on the rise, with the latter location’s popularity attributed to its appearance in HBO series “The White Lotus.” Image courtesy of Four Seasons Hotels & Resorts
In Da Nang, Vietnam, the prevalent high-end resort industry and fine dining scene contribute greatly to APAC’s booming culinary tourism market (see story).
Meanwhile, Manila, the capital of the Philippines, sported the world’s fastest-growing residential prices in 2024, potentially signaling another up-and-coming luxury market as the nation’s economy grows despite political instability.
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