The recent 18th annual Bain & Company Luxury Study sheds some insight on the luxury market across both luxury goods and experiences, saying it grew by 4% to an estimated 1.3 trillion euros globally in 2019.

Growth is largely coming from Asia and from younger generations.

The report predicts that Gen Z travellers will seek experiences that allow them to align with ethical and environmental standards.

Global consultancy Euromonitor has suggested that experiential luxury will outpace all other categories of luxury spending, across wellness, meditation and mindfulness, while luxury travel advisory Brown + Hudson suggests insight, memorability, knowledge, purpose, and timeliness will also feature.

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