Asia Pac to Overtake USA in Luxury Spending by 2012 - Rapaport

Global spending on luxury retail items is expected to grow 70 percent to $450 billion by 2012, spurred by growth in the jewelry and watch market, research company Verdict Research said in its Global Luxury Retailing 2007 report.

Growth in luxury spending represents a doubling of the rate experienced in the sector during the past five years, largely due to growing wealth in emerging markets, Verdict said.

“As consumers' wealth improves so the demand for luxury products increases,” the company said in an extract of the full report.

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Posted by Posted by Jewelry News at Wednesday, October 17, 2007 8:48 AM
Categories: Jewelry Industry News
 

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