Luxury Watches & Jewelry - Belgium

Belgium

in Belgium, a country known for its rich history and cultural heritage, is no stranger to Worldwide of luxury watches and jewelry.
In 2024, the revenue in the Luxury Watches & Jewelry market in Belgium is estimated to reach a staggering US$335.00m.
This impressive figure showcases the country's strong presence in the luxury market.
Looking ahead, the market is projected to experience an annual growth rate of 2.74% from 2024 to 2028, according to the compound annual growth rate (CAGR).
This positive trend indicates a promising future for the luxury watches and jewelry industry in Belgium.
When comparing in Belgium to other countries on a global scale, it's worth noting that in China takes the lead in terms of revenue generation.
In 2024, in China is expected to generate a remarkable US$25,250m in the Luxury Watches & Jewelry market.
This highlights in China's dominance in the global market and its significant contribution to the industry's overall revenue.
To put the revenue in perspective, let's consider the per person revenue generated in Belgium.
In 2024, each person in Belgium is estimated to contribute US$28.59 to the Luxury Watches & Jewelry market.
This figure demonstrates the country's strong consumer base and their affinity for luxury goods.
In conclusion, Belgium's Luxury Watches & Jewelry market is set to make a substantial impact in the market, with impressive revenue figures and a positive growth outlook.
The country's rich heritage and discerning consumers contribute to its strong position in the global luxury market.
Belgium's affluent population's love for timeless elegance and craftsmanship fuels the demand for luxury watches and jewelry.

Key regions: United Kingdom, China, France, South Korea, Japan

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Analyst Opinion

Hard luxury is a mainstay of the personal luxury goods industry and still accounts for a high share of sales, yet it has been characterized by relatively low growth in recent years due to an economic slowdown and changing consumption habits, especially in the Greater China region, which used to fuel global sales at the beginning of the decade. The biggest players in this field are LVMH, Richemont, Kering, Swatch, Chow Tai Fook, Lao Feng Xiang, and Rolex. A detailed list of all assessed companies and their brands can be found in the methodology.

Methodology

The Luxury Watches & Jewelry market is built on resources from the Statista platform as well as on in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. We evaluate the status quo of the market, monitor trends, and create an independent forecast regarding market developments of the global Luxury Watches & Jewelry industry.