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Global luxury market shows growth
19.05.2014 5524

Global luxury market shows growth

The global luxury market in the first quarter of 2014 increased its growth rates. According to analysts from the financial company Aforex, the market growth in the first quarter of the year was more than 6%, and the volume exceeded $ 65 billion.

This year, the growth rate of the market as a whole may also exceed 6%, experts say. The main contribution to the market growth was made by the USA and Japan, where demand is recovering due to economic stabilization. However, in addition to traditional markets, the countries of the Persian Gulf are also gaining more and more growth - thanks to consistently high prices for hydrocarbons, the demand for luxury goods in oil-rich countries is growing steadily.

In 2013, demand from the Middle East grew by more than 10%, and the cumulative share exceeded 7%. Until the end of the year, the market will feel quite confident, despite the obvious problems in the global economy, according to Aforex.

The global luxury market in the first quarter of 2014 of the year increased its growth rate.
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