BAIN – Claudia D’Arpizio, Federica Levato, Andrea Steiner, with support from Giulia Babbini
The 23rd edition of the annual Luxury Study, released by Bain & Company and Fondazione Altagamma, the trade association of Italian luxury goods manufacturers, estimates that overall luxury spending totaled €1.48 trillion globally in 2024, a slight decrease of 1% to 3% at current exchange rates compared to 2023 (at constant exchange rates, the final growth rate is poised to be somewhere between a decline of 1% and an increase of 1%). This small decline at current exchange rates represents a normalization after the robust growth observed in both 2022 and 2023, although the longer-term historical trend remains positive, with performance in 2024 still exceeding pre-Covid levels.
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