[vc_row][vc_column][vc_column_text]How much is the luxury sector worth in the European economy? A study funded by ECCIA (European cultural and creative industries alliance) the organisation that brings together the major players in the luxury sector from Italy, Spain, France, the UK and Germany. The market for high-end products is worth EUR 440 billion and is equivalent to 3% of the GDP of the entire old continent. From a global perspective, this means that about 70% of the planetary market is in Europe.
Estimates give the sector growing in all EU countries with long-term trends oscillating around 10% per year. This means that in 2020, the luxury industry is projected to reach a total turnover of EUR 900 billion per year and employ more than 2.2 million people.
The luxury sector is in fact one of those least affected by the global financial crisis and that of the Eurozone, relying on the double-digit growth rates of the emerging countries, China and India in the lead, where a middle class with excellent spending power and a great propensity to buy status symbol products is increasingly expanding.
In particular over the next five years China is expected to overtake Japan and become the second richest country in the world in terms of GDP. This is good news, as the consumption of luxury goods by the Chinese constitutes approximately 30% of the European market and is expected to continue growing in the coming years at double-digit rates on average. A further boost to the sector's growth will come from the spread of eCommerce also in luxurywhich will produce an increase in revenue of 10% per year on average, creating around 200,000 new skilled jobs in the areas of digital marketing and logistics.
As far as boating is concerned, it is clear how these trends will contribute to the success of Italian brands abroad. Especially for those shipyards that in recent years, thanks to the crisis in the sector triggered by wicked governmental decisions, are no longer with Italian capital. The new owners, in fact, whether American or Chinese, have promptly started the commercial internationalisation of brands at home, increasing orders and thus work in the production plants, which by a shrewd operational choice have almost all remained on the peninsula.
The 20,000 unemployed that the Monti government produced in the nautical sector in 2012-13 should all return in the next few years, and it is hoped that more skilled employment will further expand the ranks of those employed in the sector. These are in fact workers with a qualified professional profile, charged with creating and marketing products of high quality and very high image, pursuing that creative and manufacturing excellence that has always proved to be a trump card for Italy and the Italians.
Sources: Luxuryintheworld.net – Corrierecomunicazioni.it[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][mk_button dimension=”outline” corner_style=”full_rounded” size=”medium” icon=”mk-icon-home” url=”/” align=”center” margin_top=”30″ margin_bottom=”0″ margin_right=”0″]Torna alla Home[/mk_button][/vc_column][/vc_row]
