Luxury experiences drive a spending rebound in 2026
A new study shows luxury spending is poised to rebound this year, with experiences rather than luxury goods themselves leading the way.
According to a report by Bain & Co. and Altagamma, after two straight years of declines, luxury sales are expected to grow 1% to 4% in 2026. Personal luxury sales are projected to reach between 365 billion euros and 373 billion euros ($413.6 billion to $422.7 billion) this year.
Tensions in the Middle East continue to weigh on sales. Dubai in the UAE was once one of the fastest-growing luxury markets in the world before the Iran war, but its heavy reliance on tourism has not yet shown signs of recovery. The report said luxury sales could grow this year if conditions in the Middle East stabilize and demand in China strengthens.
The report said the United States became the leading country for luxury growth for the first time since 2021. Growth in the U.S. market is being driven largely by aspirational consumers.
At the same time, priorities and spending patterns are changing among wealthy consumers worldwide. Travel, events, and dining experiences are becoming more important than buying status goods that signal prestige. The report said that while luxury sales are expected to rise 1% to 4%, experiential spending could grow 3% to 7% this year. Restaurant, leisure, and entertainment bookings are up about 30% this year.
Experiential luxury: time, access, and meaning
“What we are seeing this year in experiential luxury are the categories that are truly resilient, the ones that offer what 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 crowded destinations is growing. “Immersive wandering,” customized slow-travel experiences rooted in discovery and tradition, is also becoming more popular. The report said travel to nontraditional destinations grew 20%.
Inheritance travel and changing buyer behavior
The report also noted the rise of “inheritance travel,” where wealthy families travel together and Gen Z is starting to adopt their parents' travel tastes and preferences.
Cruises have become especially attractive to many first-time and repeat buyers. High-end dining and gastronomy are being driven by a “less is more” mindset, while the art market is back on a growth path.
“Consumers are not just spending more; they are spending differently, seeking moments that feel more intimate and more authentic,” D'Arpizio said.
