DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/b39269/luxury_watch_marke) has announced the addition of the "Luxury Watch Market in Russian and Ukraine" report to their offering.
One of the luxury goods categories to see the largest increases in sales is fine watches, which rose 39% in 2007. According to the Federation of Swiss Watch Industry, there has never been a better time for luxury watches. In February 2007 exports of Swiss watches increased 22.7% from the previous month due chiefly to the most expensive timepieces.
Executives describe market conditions as phenomenal; their most expensive luxury products have reached unprecedented levels of success due in part to ever-expanding wealth worldwide and soaring demand in Asia, Russia, the Middle East, and the U.S.
Russian Market Overview:
Since 1999, Russia has experienced outstanding growth rates, constantly improving macroeconomic conditions, and a growing involvement in the global economy. These achievements, together with high world oil prices, political and economic stability, and skyrocketing foreign direct investment have all contributed to the growth of the country's economy.
Russia's growth: Russia is the fastest growing economy in the G8 group of industrialized nations. Over the last seven years, Russia's economy has grown by an average rate of 7% each year and is projected to grow at the same or higher rate YOY through 2010. In 2007 Russia's growth exceeded all expectations (7.6% GDP growth), accelerating in several key economic sectors such as retail, real estate, tourism, and communications.
Russia's stability: Russia has a very stable macroeconomic situation. Inflation runs below 10%, foreign currency and gold reserves have increased to around $400 billion and are now the world's third largest after China and Japan. The strength and stability of the economy was noted by the major credit rating agencies (S&P, Moody's, and Fitch), all of which awarded Russia an upgraded investment rating in 2006. In addition, the stable political environment has contributed to make the country one of the favorite destinations in the region for foreign investors.
Key Topics Covered in this Report Include:
- Overview of Global Luxury Market
- Luxury Watch Market
Russian Market
- Macro Environment
- Luxury Goods
- Luxury Watches
Ukrainian Market
- Macro Environment
- Luxury Goods
- Luxury Watches
For more information visit http://www.researchandmarkets.com/research/b39269/luxury_watch_marke
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