The Middle East, the world's ninth largest markets for luxury goods

1001 2016
Slowing sales growth globally
Company report between & Company showed a continuing slowdown in the luxury goods market growth in the world, in terms of sales by 1 rose to 2% last year, compared with 3% in 2014 and 7% in 2013, and confirms the continued decline end of the era of enormous prosperity that this market experienced before The global financial crisis, which was growing at rates double.
She explained that the biggest challenge in front of luxury goods companies in the next stage is to manage its activities with caution, in light of fluctuations in exchange rates and the decline in the number of tourists.
He noted that the «accessory» topped the strongest level of personal luxury product performance, and sales rose by 3% to represent 30% of the total market, followed by «clothes», which accounted for 24% of total sales, a rise of 2%. On the other hand, sales of luxury watches fell by 6% as a result of excessive production in Asia.
And it helped central Hong Kong and Macao fell to the rise of the Middle East to ninth place, Dubai has led to higher sales in the region, with sales of individual three billion euros (3.3 billion dollars) to record ranked 19th on the list of top cities back, and reached sales value of 8.1 billion euros (8.8 billion dollars).
The United States has maintained its leadership in the luxury market by a large margin from the rest of the winners on the list, the American value of sales of this type counterparts in Japan, China, Italy and France exceeded the combined markets. Where recorded sales of about 78.6 billion euros.
And witnessed the Japanese market demand remarkable for luxury products, whether local citizens or Chinese tourists, although it is considered the total purchases this category of goods in Japan is less than that of one city in the United States, which is New York, and the value of 20.1 billion euros sales ( $ 22 billion). China is one of the biggest beneficiaries of the decline in the euro, and advanced two spots on the list, despite the persistence of Chinese shoppers spending beyond the borders of their country, and the Chinese shopper grabbed a large proportion of the total global sales of luxury goods sector (31%). Sales of 17.9 billion euros (19.5 billion dollars).
© Al Qabas 2016