Charts of the Day: China On Track to Become World’s Largest Luxury Market

Sales of personal luxury goods rebounded to $69 billion last year and may double by 2030 to account for 25% of the global market

Apr 17, 2024

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China is expected to overtake the U.S. and Europe to become the world’s largest market for personal luxury goods by 2030, according to a new report from accounting firm PricewaterhouseCoopers (PwC).

After fluctuating significantly during the pandemic, China’s personal luxury market is believed to have rebounded to $69 billion last year, due largely to a recovery in international travel, PwC said in the report released Saturday.

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