Much is heard about the Brazilian and world economic crisis, but what many do not know is that even in the middle of the crisis, the luxury market is growing.
The executive of Eucatex, Flavio Maluf, points out that the luxury market comprises not only the purchase of goods such as cars, watches, jewelry, clothes and shoes, but also the consumption of specific services for this segment and trips of the highest standard.
Contrary to what has been reported in other markets, a study called Worldwide Luxury Market Monitor reported that the luxury market has grown by 4% in the last six months. Flavio Maluf also points out that this study by Bain & Company and Fondazione Altagamma predicts that the luxury market will have moved more than three trillion reais by the end of this year.
For Brazil, the growth of this market means an opportunity to foster national tourism. The businessman Flavio Maluf reports that, since 2008, Brazil has the Brazilian Luxury Travel Association, which seeks to attract tourists and position Brazil as a reference in luxury tourism and works to make the country the main destination in Latin America until the Year study. Amadeus’s study Shaping the Future of Luxury Travel predicts that luxury tourism will grow by around 6.2% over the next 10 years.
According to Credit Suisse, Brazil and South Africa will be the countries with the largest number of new millionaires by 2016. For this reason, in Brazil, it is already possible to observe the interest of companies in serving this market niche, for example, it is possible to perceive the growth of the offer of specific courses for training attendants and sellers of luxury goods.