Prestige and Purpose: Asias Luxury Market
In 2017, Forbes reported that one out of every three billionaires are from the Asia-Pacific region. That's a total of 720 Asian billionaires. The region has become the world's largest market for personal luxury goods; Asians bought more than half of the world's luxury goods in 2016, according to Bain & Company. Influenced by both economic and cultural factors, luxury consumption in Asia shows no sign of slowing over the next two decades.