PROTECTING BUYERS SINCE 2005

Mexico holds the No. 4 spot in the international luxury goods market

According to Abelardo Marcondes, founder of Luxurylab, thanks to Mexico’s economic and political stability, this country is now in the no. 4 spot of international luxury goods market.

Marcondes also said the principal difference between Mexico and other countries is the economic and political stability that it has achieved, as well as the import agreements with other countries, much different than Brazil, where import duties are very high. He also confirmed the industry grew more than 10 percent in the past two years, with the upward trend likely to continue.

Some 7.2 million people, or 5.2 percent of Mexico’s population, have access to high-end goods, Luxurylab says, citing a study prepared by consulting firm KPMG.

The KPMG study found that the Asia-Pacific region, excluding Japan, posted 22 percent growth in the sector in 2011, followed by Latin America, with 12 percent, and Europe, with 6 percent, with spending in Europe likely continuing to decline in 2012 as the “crisis anxiety has increased,” the expert said.

According to a Boston Consulting Group the luxury market in Mexico and Latin America is growing about 15 percent annually due to the increased availability of luxury goods in Mexico, making it unnecessary for high-end consumers to go shopping abroad.

Sales of luxury goods totaled an estimated $12 billion in 2011, up 33 percent from the previous year.

Growth estimates for the sector, according to Luxurylab, hover around 7 percent globally, down from the 12 percent pace of the past few years, but the industry’s growth rate remains comfortably ahead of global economic production projections.

Current figures are hard to get, a problem that will be addressed at the trade fair, which is expected to draw high-level executives, luxury brand representatives and investors, among others, Marcondes said.

Mexican economy is becoming stronger. Opportunities to invest in a business or properties are growing. We can help you to know more about this.

Share:

Facebook
Twitter
Pinterest
LinkedIn

Social Media

Most Popular

Get The Latest Updates

Subscribe To Our Weekly Newsletter

No spam, notifications only about new products, updates.

Categories

On Key

Related Posts

Lunada Lifestyle Apartments in Playa

Description Lunada Lifestyle Apartements offers the full sense of the vibrant Playa del CarmenThis exclusive place offers 2 bedroom 2.5 Bathrooms125.14 mt2 Turn Key Option Amazing roof top

Moon Ha Condo in the 5th Av.

From $359,000 5th Av, Playa del Carmen Property Type House 2 Bedrooms More about this property 984 803 50 14 Available from 9:00-18:00 Address 10th Av,

Casa en Venta en Real Ibiza

Description Casa ubicada en el fraccionamiento Real Ibiza en la privada canari 3. En el primer nivel cuenta con sala-comedor y cocina integral equipada, patio