TRENDS: WHERE THE ULTRA-RICH ARE VACATIONING THIS YEAR

A luxury vacation no longer means sun, palm trees, and crowded beaches. This season, the global elite have flipped the script – instead of the scorching heat of Southern Europe, they are heading for the cool serenity of the North. The trend that’s taken over the world’s billionaire class is called “coolcationing” – vacationing in colder climates as the new face of luxury.

PHOTO: Arctic Bath

Gone are the days of fighting for a sunbed on the French Riviera or sipping champagne in Saint-Tropez. In 2025, the wealthy are opting for silence and the breathtaking landscapes of the fjords. Northern Sweden and Norway have become the new “it” destinations, while Iceland is seeing a stunning rise in popularity.

According to the Virtuoso Luxe Report 2025, travel bookings to Nordic countries have surged by an astonishing 263% compared to last year.

Why Scandinavia? Because luxury today isn’t about flaunting wealth – it’s about “quiet luxury” – peace, natural materials, authenticity, top-tier design, and a sense of exclusivity without the crowds.

Younger generations of billionaires are seeking experiences that aren't accessible to everyone, and the North delivers exactly that: untouched nature, eco-conscious luxury, and architecture that blends seamlessly into the landscape.

In Lapland, guests are choosing hotels like Arctic Bath, a floating architectural gem on the Lule River (around €3,490 per night), or the world-renowned Treehotel, with its futuristic “nest” structures (around €8,200 per night). In southern Sweden, the exclusive Hotel Vyn in Skåne offers haute cuisine by famed chef Daniel Berlin.

Norway proudly showcases the Juvet Landscape Hotel, located in the Valldal valley – a minimalist retreat woven into nature. If it looks familiar, it’s because it appeared in season four of the series Succession. The price? Around €2,100 per night for peace, silence, and a view that will stay with you forever.

All signs point to this summer being defined by Nordic elegance, tranquility, and luxury in its purest form.