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South Koreans are the world's biggest spenders on luxury goods

South Koreans are the world's biggest spenders on luxury goods

  • January 12, 2023
  • min read

CNBC

South Koreans are the world's biggest spenders on luxury goods

Weiwei Xing says that growth in China's luxury market could resume after the country recovers from the current Covid waves, which should happen by the first quarter.

“I would suggest to prorate the total luxury spending by number of population that’s middle class and above, which would be a more meaningful measure to reflect attitude and consumption towards luxury,” Xing said, adding that would narrow the gap.

 

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