The global luxury market is expected to recover in 2026, with the main driver of growth being experiences rather than material goods. This is reported by CNBC, citing a joint study by Bain & Co and Altagamma. After two years of decline, sales of personal luxury goods may increase by 1-4%, reaching 365-373 billion euros (413.6-422.7 billion dollars).
The United States has become the leader in the growth of luxury goods sales for the first time since 2021, while tensions in the Middle East continue to restrain market development in that region. The priorities of affluent consumers are changing: travel, various events, and gastronomic experiences are becoming more important than the purchase of status-enhancing items.
Experts predict that the experiences segment will grow by 3-7% this year, while bookings in the leisure and hospitality sector have already increased by about 30%.
“Luxury is more about how people live than what they own,” said Claudia D'Arpizio, a senior partner at Bain & Co.
The report also notes the growing popularity of travel to unconventional and less crowded destinations, with demand for these increasing by 20%. Additionally, family travel is becoming more common, as younger generations adopt the preferences and tastes of their parents.
Buyers are particularly interested in sea cruises, high-end cuisine, and art, preferring authentic, personalized, and unique experiences.
