Luxury travel is democratising. Contemporary luxury hotels are less about price, and not just about fluffy towels, stuffy grand lounges and stiff waiters. There is a rise of more affordable luxury, with intangible experiences including time, space, ...

Singapore continues to be one of the world’s most competitive and institutionally efficient economies. However, the country has been posting sluggish economic growth in recent years, partly owing to a decline in trade volumes. The slowdown in China, ...

Driven mainly by the service sector, the economy improved modestly in 2014-2016, while a process of tax reform substantially raised non-oil revenue and started to cut expenditure. However, economic growth is expected to slow in 2017. Driven by ...

Luxury goods has entered a new phase, where conspicuous consumption is giving way to more meaningful luxury experiences. As consumers reassess their priorities, asking themselves what they truly value, a host of major trends have emerged: from the ...

Economic recovery and progress with reflation stalled somewhat in 2016. Despite an improving labour market, a strong yen and China’s faltering economy remained severe constraints on exporters. Moreover, real GDP increased by less than 1% in 2016, a ...

A series of measures undertaken by the government of India in 2016 to curb the menace of black money significantly impacted the sales of luxury goods in India. The government of India introduced stringent measures such as demonetisation, the ...

Indonesian luxury goods in 2016 recorded current value growth, but at a lower rate than in the previous few years. Demand for luxury products had continued to grow as Indonesia’s GDP rose; however, growth slowed due to depreciation of the rupiah in ...

The luxury travel industry is once again in the grip of major upheaval, with rising geopolitical tensions, such as the spill-over effects of the Middle East conflict, giving rise to mass migration and terrorist attacks. At the same time, luxury ...

South Africa registered very little growth in GDP during 2016. Consumer demand was constrained by low levels of consumer confidence, higher taxes and a drop in real wages. Power outages also continued to be a problem, all of which came at a ...

Luxury goods performed slightly better in the review period as economic conditions continued to improve providing great opportunities for the different categories to grow. GDP growth, demographic shifts, improvements in shopping facilities and ...

Luxury goods witnessed a significant slowdown in growth in 2015, which intensified in 2016. This was mainly due to the fall in oil prices and gold prices plus rising living costs. This situation intensified with the global economic performance, which...

Value growth of luxury goods in 2016 was lower than the review period average. A massive growth decline in the number of tourists from China led to a drop in luxury purchases. Chinese tourists have been the major consumer group buying luxury goods ...

The luxury goods market in Thailand continues to be on the rise thanks to growing materialism as well as a recovery in the Thai economy. Much of the growth in luxury is supported by the Thai government’s push for the country to be a luxurious ...

After a tough year in 2015, luxury goods in Hong Kong continued to suffer as luxury spending remained low in 2016. The high exchange value of the Hong Kong dollar continued to weaken Hong Kong’s position as a luxury retail destination as the ...

In 2016, Malaysia recorded slower GDP growth of just 5%. This, along with the rising cost of living and the weaker Malaysian ringgit, affected the performance of various luxury goods categories as consumers reined in their spending....

Luxury goods maintained healthy current value sales growth in 2016. Although the global economic downturn impacted multiple industries in South Korea, luxury goods prospered as consumers showed increasingly sophisticated tastes. Companies diversified...

After being severely hit by financial crises, Romania is back on track and the entire economy is largely back where it left off before the crises. This is also valid for luxury goods for which the review period showed impressive growth rates ...

The performance of luxury goods in Poland remained positive in 2016, presenting healthy value progress of over 5%. The pace of sales growth was slightly lower than 6% CAGR registered over the 2011-2016 review period. The positive tendencies were ...

Michael Kors, Burberry or Hugo Boss are developing ready-to-wear products that can be bought just after their runway shows. This is a new concept that generates greater excitement and anticipation around the brand, products and new collections. In ...

Overall luxury goods saw muted current value growth in 2016 over the previous year, with this in line with the review period CAGR. Growth was however constrained by deflation in the year, with value growth at constant 2016 prices being more than ...