INTRODUCTION
The good news is that almost every advisor sells land tours. The better news is that everyone selling land
tours expects growth in the business this year.
What are the advantages of a land tour? Unlike a river or an ocean cruise, where the vessel is the primary
experience, there are avenues to be more creative with land tours. Travelers get to see a whole new range
of vistas, while experiencing new adventures and cultures. And, with FITs, each experience can be curated
for the clients’ needs and preferences.
In the last few years, advisors have consistently shared the client demand/preference for traveling in
smaller groups. If not traveling with their family and friends, clients are less inclined to travel as large
groups, preferring groups sizes of 10 persons or less. They also want the luxury of destination tours
feeling as private as possible.
The client’s readiness to shell out more money for immersive experiences highlights the optimism in the
industry. The insights from this survey also point towards growth. In the last year, the share of advisors
(agencies and ICs) making more than $1 million annually has risen to 40% from around 25% in the
previous Outlooks. Not surprisingly, in an industry dominated by personal relationships, those with more
experience are bringing in more money. The takeaway for young advisors here is sticking it out pays off
in the long run!
We hope that this TMR Land Tours Outlook 2024 encourages advisors to expand into land tours, and
equally serves as a resource to grow their business.