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Article: European Market Continues to Be the Most Significant for Most of the Companies in the Luxury Goods Industry.
- Article from:
- Business Wire
- Article date:
- August 20, 2007
CopyrightCOPYRIGHT 2007 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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DUBLIN, Ireland -- Research and Markets (http://www.researchandmarkets.com/reports/c66115) has announced the addition of Luxury Goods Market: Developing Regions Offer Huge Opportunities to their offering.
The luxury goods market is highly cyclical and is mainly driven by Global GDP growth, tourism flows (themselves largely dictated by currency movements) and the growing proportion of high net worth individuals. There is a clear connection between global economic growth and luxury growth.
In addition to high net worth individuals, demand for luxury goods is also driven by more aspirational lower-end consumers across most regions. Consumption of luxury ...