Luxury Marketer
  1. Value of luxury must be clearly demonstrated, genuinely felt by wealthy to retain loyalty Open to all readers
  2. UAE still poised for growth in post-conflict era: report Open to all readers
  3. From ownership to proven worth: Why luxury is entering its most honest era yet Open to all readers
  4. Leading Hotels of the World extends alliance with DayBlink GPO for new revenue, management, payment services
  5. State of Luxury 2026 report: Luxury enters new era – slower, more selective, less forgiving Open to all readers
  6. How HNWIs are reshaping portfolios, providers and luxury adjacent spending in UK, US and China: report
  7. Price becomes primary battleground for this year
  8. L’Oreal closes transaction to buy House of Creed, Kering Beauté for $4.6B
  9. Which global cities are creating the best opportunities for investors, occupiers?
  10. British brokerage Savills to buy real estate bank Eastdil Secured for $1.1B
  1. Which global cities are creating the best opportunities for investors, occupiers?
  2. Why brands missed the moment on social 
  3. Global luxury spending to stay flat at $1.66 trillion in 2025 as shopper base shrinks
  4. From ownership to proven worth: Why luxury is entering its most honest era yet 
  5. LVMH entices future talent in creative, craftsmanship and customer experience through maison exhibition
  6. 68pc of small business owners to up marketing budgets in 2026
  7. How HNWIs are reshaping portfolios, providers and luxury adjacent spending in UK, US and China: report
  8. State of Luxury 2026 report: Luxury enters new era – slower, more selective, less forgiving 
  9. Your invitation to join us at the Luxury Outlook Summit 2025
  10. See who's speaking at the Luxury Outlook Summit 2025 New York
Comment

Research

Report: Experiences drive global luxury market to end 2023 with record-high $1.63 trillion in sales

November 14, 2023

Asset rich, the wealthy and UHNW are quite resilient in market ups and downs. Image: Shutterstock Asset rich, the wealthy and UHNW are quite resilient in market ups and downs. Image: Shutterstock

 

By Mickey Alam Khan

The global luxury market is projected to reach $1.63 trillion in 2023, an 8-10 percent growth over 2022, setting a new record for the business and proving its resilience amidst geopolitical and economic uncertainty.

This content is accessible only to subscribers of Luxury Marketer. We would love for you to become a subscriber and enjoy the many benefits soon after. Please click here to enroll as a subscriber of Luxury Marketer. Already a subscriber?
 
NEW INTELLIGENCE

MOST READ
  1. Which global cities are creating the best opportunities for investors, occupiers?
  2. Why brands missed the moment on social 
  3. Global luxury spending to stay flat at $1.66 trillion in 2025 as shopper base shrinks
  4. From ownership to proven worth: Why luxury is entering its most honest era yet 
  5. LVMH entices future talent in creative, craftsmanship and customer experience through maison exhibition
  6. 68pc of small business owners to up marketing budgets in 2026
  7. How HNWIs are reshaping portfolios, providers and luxury adjacent spending in UK, US and China: report
  8. State of Luxury 2026 report: Luxury enters new era – slower, more selective, less forgiving 
  9. Your invitation to join us at the Luxury Outlook Summit 2025
  10. See who's speaking at the Luxury Outlook Summit 2025 New York


MORE IN Research
UAE still poised for growth in post-conflict era: report Open to all readers
April 8, 2026
From ownership to proven worth: Why luxury is entering its most honest era yet Open to all readers
April 7, 2026
State of Luxury 2026 report: Luxury enters new era – slower, more selective, less forgiving Open to all readers
April 7, 2026
How HNWIs are reshaping portfolios, providers and luxury adjacent spending in UK, US and China: report
April 7, 2026
Price becomes primary battleground for this year
April 6, 2026
Which global cities are creating the best opportunities for investors, occupiers?
April 6, 2026



RECENT INTELLIGENCE
Value of luxury must be clearly demonstrated, genuinely felt by wealthy to retain loyalty Open to all readers
April 8, 2026
UAE still poised for growth in post-conflict era: report Open to all readers
April 8, 2026
From ownership to proven worth: Why luxury is entering its most honest era yet Open to all readers
April 7, 2026

State of Luxury 2026 report: Luxury enters new era – slower, more selective, less forgiving Open to all readers
April 7, 2026
How HNWIs are reshaping portfolios, providers and luxury adjacent spending in UK, US and China: report
April 7, 2026
Price becomes primary battleground for this year
April 6, 2026