It’s expected that the worldwide business for luxury products and services will range between 276 billion and 281 billion euros, according to updated data by the Altagamma Worldwide Market Monitor and by the Bain&Company study.
The country moves forward in international trade and lowers tariffs on the importation of certain products, including clothing, footwear and cosmetics.
According to the latest data released by the Spanish National Institute for Statistics, the average pay in the country increased only by 0.2% in 2016 from prior year to reach 23,156.34 euros.
Among the largest fashion markets worldwide, the Asian giant is where families spare the most, with a rate of 37% of their total income, while the British are the only ones who spend more than the income they receive.
News on the latest macroeconomic indicators related to the textile- and fashion industry worldwide.