Latin America’s luxury market is predicted to say no this 12 months as soaring inflation and sluggish economic growth hit sales of high-end products, analysts said.
“We'll grow 8 percent this 12 months, which is lower than the 12 percent in 2022 and 20 percent in 2021,” said Abelardo Marcondes, founding father of local consultancy Luxury Lab, adding that this 12 months’s gains will clock in sharply above gross domestic product (GDP). “We've an inflation crisis within the region and within the U.S. but we'll still manage to grow above the economy.”
This is basically resulting from Mexico’s buoyant sales, Marcondes added, which is able to sharply outpace the remaining of the region’s, gaining 10 percent as a powerful tourism industry and...
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