{"id":43985,"date":"2024-06-24T01:21:33","date_gmt":"2024-06-24T01:21:33","guid":{"rendered":"https:\/\/www.aplf.com\/2024\/06\/24\/luxury-resurgence-in-tourism-boosts-luxury-in-2023\/"},"modified":"2024-06-24T01:21:45","modified_gmt":"2024-06-24T01:21:45","slug":"luxury-resurgence-in-tourism-boosts-luxury-in-2023","status":"publish","type":"post","link":"https:\/\/www.aplf.com\/zh-hans\/2024\/06\/24\/luxury-resurgence-in-tourism-boosts-luxury-in-2023\/","title":{"rendered":"Luxury &#8211; Resurgence in tourism boosts luxury in 2023"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"43985\" data-post-id=\"43985\" data-obj-id=\"43985\" class=\"elementor elementor-43985 dce-elementor-post-43985 elementor-43969\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section data-particle_enable=\"false\" data-particle-mobile-disabled=\"false\" class=\"elementor-section elementor-top-section elementor-element elementor-element-372d15d elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"372d15d\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-865f172\" data-id=\"865f172\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-35eab76 elementor-widget elementor-widget-text-editor\" data-id=\"35eab76\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"text-align: left;\">24 June 2024<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-23791b0 elementor-widget elementor-widget-heading\" data-id=\"23791b0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Luxury - Resurgence in tourism boosts luxury in 2023<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a77199a elementor-widget elementor-widget-image\" data-id=\"a77199a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"600\" height=\"534\" src=\"https:\/\/www.aplf.com\/wp-content\/uploads\/2024\/06\/image-14.jpg\" class=\"attachment-large size-large wp-image-43971\" alt=\"\" srcset=\"https:\/\/www.aplf.com\/wp-content\/uploads\/2024\/06\/image-14.jpg 600w, https:\/\/www.aplf.com\/wp-content\/uploads\/2024\/06\/image-14-500x445.jpg 500w\" sizes=\"(max-width: 600px) 100vw, 600px\" style=\"width:100%;height:89%;max-width:600px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3baaeb8 elementor-widget elementor-widget-text-editor\" data-id=\"3baaeb8\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>The global luxury market showcased stability in the face of geopolitical and economic turbulence in 2023, exceeding a record \u20ac1.5 trillion. By <a href=\"https:\/\/leatherbiz.com\/\" target=\"_blank\" rel=\"noopener\">Leatherbiz<\/a>.<\/p>\n<p>Behind this growth was a resurgence of luxury travel and a robust US holiday season in the fourth quarter, according to research by consultancy Bain in association with Italian luxury goods association Altagamma.<\/p>\n<p>The research showed a growth in hospitality as well as gourmet food and fine dining. Additionally, the market has seen consistent growth in private jets and yachts. This comes alongside a slowdown in the auction market for fine arts, due to artwork shortages and economic uncertainties.<\/p>\n<p>The personal luxury goods market saw a slight decline in the first quarter of 2024. Key to maintaining stable growth across subsectors will be luxury brands\u2019 ability to address rising prices while maintaining a robust price-value equation in the eyes of consumers, said Bain.<\/p>\n<p>China&#8217;s market is under pressure due to two primary factors: the revival of outbound tourism and weakening local demand caused by rising economic uncertainties. The latter is undermining middle-class consumer confidence, leading to &#8220;luxury shame&#8221; behaviour. The US continues to face with macroeconomic pressures despite signs of gradual improvement in GDP and consumer confidence.<\/p>\n<p>Federica Levato, leader of the firm\u2019s EMEA Luxury Goods and Fashion practice, said: \u201cA dual strategy, framed around the allure of top-tier clientele and the appeal of smaller luxury indulgences, is driving growth at both ends of the price spectrum.<\/p>\n<p>\u201cBut now is not the time to for brands to rest on their laurels. As brands continue to face turbulence in the market, the winners will be those that rethink the way they craft and deliver their value propositions across multiple price points and touchpoints, growing their reach while building advocacy and loyalty among their customers.\u201d<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section data-particle_enable=\"false\" data-particle-mobile-disabled=\"false\" class=\"elementor-section elementor-top-section elementor-element elementor-element-75d80fd elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"75d80fd\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-1c00671\" data-id=\"1c00671\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-19eb4bc elementor-widget elementor-widget-spacer\" data-id=\"19eb4bc\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>24 June 2024 Luxury &#8211; Resurgence in tourism boost&hellip; <a class=\"more-link\" href=\"https:\/\/www.aplf.com\/zh-hans\/2024\/06\/24\/luxury-resurgence-in-tourism-boosts-luxury-in-2023\/\">\u7ee7\u7eed\u9605\u8bfb<span class=\"screen-reader-text\">Luxury &#8211; Resurgence in tourism boosts luxury in 2023<\/span><\/a><\/p>\n","protected":false},"author":6,"featured_media":43971,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[],"class_list":["post-43985","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industry-news-sc","entry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Luxury - Resurgence in tourism boosts luxury in 2023 - APLF Limited<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.aplf.com\/zh-hans\/2024\/06\/24\/luxury-resurgence-in-tourism-boosts-luxury-in-2023\/\" \/>\n<meta property=\"og:locale\" content=\"zh_CN\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Luxury - Resurgence in tourism boosts luxury in 2023 - APLF Limited\" \/>\n<meta property=\"og:description\" content=\"24 June 2024 Luxury &#8211; 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