Luxury experiences rebound in 2026, driven by “inheritance travel”
New research shows luxury spending is expected to rebound this year, led by experiences rather than goods.
According to a Bain and Altagamma report, after two years of decline, luxury sales are expected to grow 1% to 4% in 2026. Personal luxury goods sales are projected to reach between €365 billion and €373 billion ($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 before the war in Iran, but its heavy reliance on tourism 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 U.S. has become the leading country for luxury growth for the first time since 2021, with much of that growth driven by aspirational consumers.
At the same time, affluent consumers’ priorities and spending are shifting. The report says travel, events and dining experiences are becoming more important than buying status-signaling goods. Although luxury sales are expected to grow 1% to 4%, experiential spending could rise 3% to 7% this year. Bookings for dining, leisure and entertainment are up about 30% this year.
Experience-driven luxury: resilience in time, access and meaning
Bain senior partner Claudia D’Arpizio said: “What we are seeing in experience-led luxury this year is resilience concentrated in categories that money cannot easily replicate: time, access and meaning.” She added that luxury is increasingly about how people live, not just what they own.
The report also noted growing travel to destinations with fewer tourists. “Immersive roaming” - tailor-made slow travel rooted in discovery and tradition - is becoming more popular. Travel to nontraditional destinations rose 20%, the report said.
Inheritance travel and a new luxury travel motive
The report points to the rise of “inheritance travel”: wealthy families traveling together, with Gen Z adopting their parents’ taste and preferences in travel.
Cruises are attracting many first-time buyers and repeat customers. High-end dining and gourmet spending are being driven by a “less but better” mindset, while art is also returning to growth.
D’Arpizio also said: “Consumers are not just spending more; they are spending differently, seeking moments that feel more personal and more authentic.”
