Summary: Luxury spending is expected to rebound in 2026, with experiences driving growth. Luxury sales may rise 1%-4%, while experience-led categories could grow 3%-7%.
Luxury spending rebounds in 2026, with experiences taking center stage
According to a new study, luxury spending is set to rebound this year, driven mainly by experiences rather than luxury goods themselves.
A report from Bain & Co. and Altagamma says that after two straight years of declines, luxury sales are expected to grow 1% to 4% in 2026. Sales of personal luxury goods are projected to reach between 365 billion euros and 373 billion euros ($413.6 billion to $422.7 billion) this year.
Conditions in the Middle East continue to weigh on sales. Dubai in the United Arab Emirates was once one of the world’s fastest-growing luxury markets before the war with Iran, but its heavy reliance on tourism means it has yet to show signs of recovery. The report says luxury sales could grow this year if the Middle East stabilizes and demand in China strengthens.
The report says the United States became the top market for luxury growth for the first time since 2021. Much of that growth, it notes, is being driven by aspirational consumers.
At the same time, priorities and spending among wealthy consumers worldwide are shifting. Rather than buying status symbols, travel, events, and dining experiences are becoming more important, the report says. It also says that while luxury sales are expected to grow 1% to 4%, experience-led spending is set to rise 3% to 7% this year. Dining, leisure, and entertainment bookings are up about 30% this year.
Experience-led luxury is growing where value is hard to copy
“The resilience we’re seeing this year in experience-led luxury is concentrated in categories that money can’t easily replicate: time, access, and meaning,” said Claudia D’Arpizio, senior partner at Bain & Co. “Luxury is increasingly about how people live, not just what they own.”
Travel to nontraditional, less-visited destinations is rising. “Immersive roaming” — a customized slow-travel experience rooted in exploration and tradition — is also gaining popularity. According to the report, travel to nontraditional destinations grew 20%.
“Inheritance travel” and how affluent families are changing the way they spend
The report also highlights the rise of “inheritance travel,” where wealthy families travel together, and Gen Z is beginning to adopt their parents’ travel tastes and preferences.
Luxury cruises are especially attracting many first-time buyers and repeat customers. Fine dining and gastronomy are benefiting from the “less but better” mindset, and boutique art is returning to growth.
“Consumers are not just spending more; they are changing how they spend, seeking moments that feel more personal and more authentic,” D’Arpizio said.
