This shift is largely driven by the way travellers now document their journeys and surroundings, where visually striking, well-curated content attracts more clicks, holds attention longer, and ultimately generates higher engagement.

According to Aviation A2Z , Istanbul and Shanghai jointly top the list, each boasting 201 five-star hotels, followed closely by Bangkok (200). London (162) and Dubai (133) round out the top five, reaffirming their long-standing reputations as global luxury and business hubs. Other notable cities include Manila (127), Paris (116), Beijing (112), Mexico City (88), and Batumi (86).

The dominance of Istanbul and Shanghai reflects a broader shift in global tourism flows. Istanbul benefits from its unique position straddling Europe and Asia, acting as a cultural, financial, and aviation crossroads. Shanghai, meanwhile, continues to capitalise on China’s massive domestic travel market and its role as a global business gateway.

Bangkok’s near-tie highlights Southeast Asia ’s strength as a luxury yet affordable destination, attracting long-haul tourists, digital nomads, and premium airline traffic.

Aviation plays a crucial role in this growth. According to Aviation A2Z, cities that function as major airline hubs, such as Istanbul (Turkish Airlines), Dubai (Emirates), London (multiple global carriers), and Bangkok, naturally attract more five-star hotel investment due to consistent premium passenger volumes and strong international connectivity.

The cities with the most five-star hotels are not just tourist magnets but are also indicators of where global business, aviation connectivity, and disposable income converge.

As geopolitical shifts, airline route expansions, and visa liberalisation continue to reshape travel patterns, emerging cities like Batumi and Manila signal that luxury hospitality is expanding beyond traditional Western strongholds.

Hermès reported consolidated revenue of €15.2 billion for 2024, a 15 % increase at constant exchange rates and 13 % at current rates. The French house also recorded a recurring operating income of €6.2 billion, representing 40.5 % of sales, and a net profit of €4.6 billion (about 30.3 % of sales).

Meanwhile, Ferrari logged net revenues of €6.677 billion in 2024, up 11.8 % from the previous year (or 13.4 % at constant currency). The Italian marque also earned an operating profit of €1.888 billion (28.3 % margin) and delivered 13,752 vehicles — modest growth in volume, but strategic strength in model mix and personalisation.

Hermès ’ performance highlights the enduring power of artisanal excellence and brand heritage. Growth spans all geographic areas, with the Americas in particular showing strong momentum.

On the other hand, Ferrari’s ascent reflects its dual identity as a luxury brand and an automotive innovator. The company attributes its growth to a richer product mix, increased personalisation, and strong brand desirability, despite global headwinds in volume markets.

The luxury sector overall faced disruptions in 2024: economic slowdowns, shifting consumer patterns, weaker demand in China, and inflationary pressures. Remarkably, both Hermès and Ferrari navigated these challenges successfully.

These results also tie into bigger global themes of the luxury market is becoming increasingly segmented. Brands that can offer uniqueness, exclusivity and emotional appeal may fare better than those relying purely on scale. Consumers are more discerning, and as luxury becomes more globalised, brands must maintain authenticity while expanding reach.

His portfolio included high-end hotels, ambitious property developments, and a collection of London estates reportedly worth over $130 million. To the public, Chen was a symbol of modern Asian entrepreneurship and a man who built billions through luxury and innovation.

But that narrative has collapsed.

In October 2025, the United States and the United Kingdom jointly launched one of the largest cybercrime crackdowns in history, accusing Chen and his associates of running a transnational criminal network that profited from human trafficking, online scams, and crypto fraud.

More than 146 individuals and companies were sanctioned, and assets worth billions, including real estate and digital currencies , were frozen. Investigators traced the flow of money from fake job ads, romance scams, and crypto schemes back to Chen’s network in Cambodia and beyond.

Authorities allege that behind the façade of luxury developments and high-finance operations lies a vast web of “scam compounds” across Southeast Asia. Trafficked workers from across the region were forced to run online fraud under threats of violence, generating billions of dollars in illicit profits.