Experiential Luxury

Experiential luxury is seeing healthy value sales in 2024, which are slightly up from those reported for 2023. A key driver for this comes from inbound tourism, mainly from neighbouring Nordic countries such as Denmark, Finland and Norway, followed…

Luxury hotels has continued to post dynamic growth in current value terms in South Africa in 2024, with sales recovering to and exceeding pre-pandemic levels. Bookings have recovered as the country’s tourism industry is now back on track following…

Experiential luxury has seen strong growth in 2024 having already seen a recovery to pre-pandemic sales levels in current value terms. This strong growth has been mainly driven by the strong growth and recovery of international tourism, mainly from…

The growth of experiential luxury in the Philippines in 2024 is supported by ongoing urbanisation trends in the country, alongside an expanding middle-class segment of consumers and the lowering levels of inflation leading to stronger spending power.…

In 2024, experiential luxury grew by a significant 17% to reach sales of SGD1.9 billion, boosted by wealthier individuals investing in travel and hotel breaks, with pent-up demand following COVID-19 continuing to shape the trend towards experiences…

Experiential luxury is set to see a modest rise of 3% in retail value sales in current terms in Hong Kong in 2024, to reach HKD15.6 billion. Value sales declined by 70% to HKD3.8 billion in 2020, but by 2023 had exceeded their pre-pandemic level of…

Experiential luxury in China is benefitting from recovered tourist arrivals in 2024, despite economic pressures including rapidly rising living costs. Consumers continue to shift towards spending more money on meaningful and rewarding experiences and…

Value growth of experiential luxury in Thailand, driven by luxury hotels, is notably slowing in 2024, as part of a stabilisation trend following several years of dynamic sales performance when pandemic-related restrictions eased and consumers turned…

Retail value sales of experiential luxury grew by a significant 18% in 2024, reaching KRW1.1 billion, up from 1 billion in 2023. Ongoing growth is benefiting from a trend bolstered by the outbreak of COVID-19: a focus on services above manufactured…

Value sales of experiential luxury are set to more than double in Argentina over the course of 2024, mostly because of prices increasing due to high rates of inflation. 2023 was a year in which inbound tourism grew significantly in Argentina due to…

Luxury hotels have continued see dynamic growth in current value terms in 2024 although sales still remain well below pre-pandemic levels. As part of efforts to support the recovery of tourism in Malaysia the government has initiated various…

Experiential luxury in Brazil continues to benefit from the recovery of travel and tourism in 2024, with inbound flows rising despite global macroeconomic pressures such as inflation and the rapid escalation of living costs. Consumers are…

The performance of experiential luxury in the United Arab Emirates remains dynamic, although there is a deceleration of growth. Value sales of experiential luxury grew by double digits to total AED8 billion in the first half of 2024. Much of this…

Although luxury foodservice continues to account for negligible sales in Spain, experiential luxury is set to maintain double-digit retail current value growth in 2024, due to the strength of luxury hotels. Even after surpassing the pre-pandemic…

In 2024, experiential luxury in Italy continues to perform positively, in terms of the rising number of hotels and overall value sales. A positive trend is evident in both luxury foodservice and luxury hotels, and can be linked to the strong rebound…

Retail value sales for experimental luxury will record double-digit retail value growth in 2024, driven by the luxury hotel landscape. Due to the outbreak of COVID-19 and associated closures and restrictions, retail current value sales decreased by…

In 2024, luxury hotels in India is expected to experience double-digit retail current value growth, driven by the rising trend of experiential travel. Consumers are increasingly seeking immersive experiences rather than just a place to stay; they…

Experiential luxury in Turkey, which includes both luxury hotels and foodservice, is set to register a buoyant performance in 2024, due to several key factors. Firstly, the resurgence of international tourism is significantly boosting demand for…

Experiential luxury has seen strong growth in current value terms as well as healthy growth in retail volume terms in 2024. Category sales are largely accounted for by luxury hotels which have benefited from higher occupation rates as a result of the…

In 2024, the recovery of both international and domestic travel has significantly strengthened Canada's luxury hotel sector. Affluent consumers, less affected by inflation, are driving demand for high-end experiences, with occupancy rates rising…