In 2025, experiential luxury in the United Arab Emirates, comprising luxury hotels and luxury foodservice, demonstrated dynamic growth, driven by strong demand from affluent residents and international visitors. High net worth individuals (HNWIs), attracted by the position of the United Arab Emirates as a global luxury hub, demand bespoke and immersive experiences, with consumers prioritising exclusive hotel stays that offer personalised services and curated events. Experiential offerings emphas

In 2024, Germany witnessed a remarkable surge in tourist arrivals, surpassing pre-pandemic levels for the first time since COVID-19 disrupted global travel. This milestone reflected the nation's robust recovery and its sustained appeal as a premier travel destination in Europe. This development also supported experiential luxury in Germany during the year, with value sales fully recovered to pre-pandemic levels. Both luxury foodservice (dominated by the Armani brand) and luxury hotels recorded d

LVMH is a strong leader in the personal luxury market with its plethora of brands, many of which have been acquired by the French player, and have subsequently flourished under its ownership. LVMH is also expanding its operations in experiential luxury and fine wines/champagne and spirits. LVMH has been recording its first quarterly declines since the pandemic in 2024, although this is compared to the record revenues of a year earlier.

In 2024, sales of experiential luxury increased by 7% to amount to TWD11.3 billion, boosted by wealthier individuals enjoying travelling and dining out. Due to the COVID-19 outbreak, value sales declined by 46% to TWD5 billion in 2020. In 2024, figures exceeded the pre-pandemic level of TWD9.2 billion recorded in 2021.

According to the Ministry of Tourism and Creative Economy, the number of international tourists visiting Indonesia in 2024 saw double-digit growth compared to 2023. The key source markets were other ASEAN countries like Singapore and Malaysia, as well as visitors from Europe. Indonesia is also becoming popular among Koreans. The Ministry of Tourism and Creative Economy is focused on attracting more tourists and improving the country’s touristic offer. For instance, the ministry plans to build a

Experiential luxury has continued to double-digit growth in current value terms in 2024 as the market continued to recover from the negative effects of COVID-19. Sales have also benefited from an improvement in the Swiss economy. Nevertheless, the war in Ukraine and ongoing global financial turmoil has continued to limit the growth potential for experiential luxury with fewer tourists visiting luxury hotels than before the pandemic. In Switzerland, tourists spent an average of three or more days

The robust bounce-back in global travel has continued in 2024, marking a significant milestone, as travel flows are set to surpass the pre-COVID-19 level for the first time. The US ranks first in the World Economic Forum Travel & Tourism Development Index 2024, which is also set to fuel a notable increase in retail current value sales in experiential luxury. Although sales growth in experiential luxury is expected to slow in 2024 compared with previous years, it is still set to experience health

As wealthier consumers increasingly prioritise the pursuit of richer and more authentic experiences, instead of the acquisition of material objects, experiential luxury in Australia continues to register a robust performance in 2024. In part a response to peak consumption, in part fuelled by the social media allure of “Instagrammable” moments, luxury players are able to leverage premium lifestyle elements to foster an enhanced customer experience and deeper brand engagement on an industry level.

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 by Germany, Poland, and the UK. This is due to both economic and climate-related factors. Regarding the economy, it is noted that the Swedish Krona is fairly weak, meaning international tourists are able to purchase luxury goods at cheaper prices in S

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 the sharp decline in visitors during the COVID-19 pandemic. With the number of inbound trips to South Africa increasing by high double digits in 2024, the number of foreign visitors staying at luxury hotels has also seen strong growth, with more afflue

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 Germany, the UK, the US, and the Czech Republic. It is also important to note that Poland remains an important travel destination for Ukrainians, with only arrivals from Germany being higher than those from Ukraine. Wealthy Ukrainians are therefore al

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. This is further supported by the growth of luxury brands and services, such as seen with high-end fine dining and luxury services offered by five-star hotels and casino resorts. Areas seeing such developments include the Metro Manila, which comprise

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 above goods. Value sales at the height of the pandemic fell by 65% to SGD620 million in 2020. 2024 marks the year when sales in experiential luxury have recovered, reaching beyond the pre-pandemic level of SGD1.7 billion. In addition to domestic consu

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 activities than on material items. People are keen to make the most of the moment and enjoy the present, with wealthier individuals increasingly keen to spend money on living life to the full and doing what they can to indulge and entertain themselv

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 HKD12.7 billion. Key source markets for inbound travellers in 2024 are set to include China, the Philippines, Taiwan, Thailand, and the US. Arrivals from these countries are expected to spend HKD5,672, HKD2,525, HKD6,898, HKD5,736, and HKD15,038 on ea

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 to “revenge” spending, including on travel and exciting experiences due to greater mobility outside of the home. Nevertheless, the ongoing positive performance of the category is being supported by demand for experience-driven consumption, as there i

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 goods. This focus has benefited industries, including food service, travel, hotels and holidays, as consumers invest in experiences above physical goods. Due to the outbreak of COVID-19, retail value sales fell by 44% to KRW355 million in 2020. In 202

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 the existence of two types of value ??for the US dollar, with illegal dollars double the value of official dollars. As a result, the country was very cheap for international tourists.

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 incentives to attract visitors. For example, Malaysia has offered visa exemptions for passport holders of The People’s Republic of China from December 2023 to December 2024. Those eligible for visa-free entry into Malaysia are permitted to stay for up to 30

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 increasingly taking on a “live for today” attituded as they focus on enjoying a variety of interesting and novel activities and experiences. This is leading to more spending on the likes of luxury travel, with strong pent-up demand helping to drive growth. With

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 of tourism in Italy post-pandemic, both in terms of domestic tourists and inbound travel. The number of inbound arrivals is set to fully recover over 2024, with most arrivals into Italy coming from Germany, France, the UK, Switzerland and the US. Arr

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 level of inbound arrivals and spending in 2023, these figures are expected to continue to climb, with arrivals to Spain expected to exceed 92 million trips, and spending expected to reach EUR120 billion in 2024. The country has become a popular destinati

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 69% in 2020, to fall to RON151 million. In 2024, sales are set to exceed the 2019 pre-pandemic level of RON484 million, with total retail value sales of RON485 million. There is set to be 9.9 million inbound trips in Romania in 2024, up from 7 million

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 want to spend quality time in luxurious settings that offer a sense of indulgence and relaxation. As hectic schedules leave little room for leisure, short weekend getaways have become a popular choice, prompting a surge in demand for luxury accommodatio