According to the latest Luxury Goods Worldwide Market Study by Bain-Altagamma, spending on luxury goods is expected to grow between 2% and 4% in 2026, generating between €365bn and €373bn worldwide, compared to €358bn in 2025. The study, however, considers additional scenarios. In a more optimistic scenario, the study projects growth of between 4% and 6%, contingent on a reduction in geopolitical tensions, momentum in the U.S. market, and an acceleration of the recovery in China. Conversely, in a more challenging scenario, the luxury sector could see flat growth or growth of just 2% should tensions in the Middle East intensify, tourism decline, or the U.S. economy weaken further. According to the study, luxury experiences (hospitality, yachts, private jets, etc.) are growing faster than fashion, with a 4% increase. About 60% of companies in the sector are reporting better sales results than last year, although margins remain under pressure.