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Showing posts with label Turkey’s luxury consumption market to grow. Show all posts
Showing posts with label Turkey’s luxury consumption market to grow. Show all posts

30 Jan 2011

Turkey’s luxury consumption market to grow

Turkey’s luxury consumption market to grow - Hurriyet Daily News and Economic Review: "The world’s luxury consumption market reached 1 trillion euros in volume last year, according to “The New World of Luxury” report conducted by the Boston Consulting Group, or BCG, a global management consulting firm.

The Turkish luxury consumption market’s share of the global luxury market is around 0.5 percent, according to Burak Tansan, managing partner of BCG Istanbul.

“This figure is less than Turkey’s 1 percent gross national product share among the world’s GNP. The Turkish luxury consumption market has serious growth potential,” Tansan said.

Luxury travel and accommodations took the top spot, with 270 billion euros, in the luxury consumption list, followed by luxury automobiles with 250 billion euros, according to the report. Luxury technology products rank third, with 100 billion euros, on the list, the report said.

Products such as luxury food and beverage and luxury furniture constitute the rest of the luxury consumption sector."

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