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The ‘Luxury Spain’ association has recently quantified how much, where and on what wealthy consumers of top range products spend their money. In terms of sales of luxury goods Marbella holds second place in the country, after Barcelona and ahead of Madrid.
The Golden Mile was expected to end 2015 with more than a quarter of total luxury sales, helping Marbella to retain its second place on the ranking, which it reached after overtaking Madrid in 2013. According to the ‘Report on the luxury sector in Spain’, Marbella is also the only one of the three where sales have risen: 32 per cent of turnover was in Barcelona, the same as last year; Marbella accounted for 27.5 per cent, half a percentage point more than last year; and Madrid dropped two points to 16 per cent of the sales of luxury goods.
According to the report, Spain is fifth in the luxury market within the EU, after France, Italy, Germany and Switzerland. While most sectors have seen their levels of production and sales drop, in Spain the industry related to top quality products and services has continued to grow during the past four years.
Forecast growth
In 2011 the turnover of Spanish companies linked with the luxury sector was 4.5 billion euros, and this upward trend is expected to continue, reaching a figure of 5.69 billion at the end of 2015. This is 4.8 per cent higher than in 2014, thanks once again to tourism and exports.
Of the total volume of sales, 1.56 billion euros were spent in Marbella, 1.82 billion in Barcelona, 909 million in Madrid, 483 million in Ibiza and 341 million in Mallorca. The remaining 568 million euros were spent in other Spanish towns and cities.
Which are the most popular luxury products? The gourmet and beauty sectors top the list, as together they account for 55 per cent of the total business (3.63 billion euros a year), followed by top ranking tourism products and services.