The emerging economies have yet to make their weight felt in global watch sales.
The stars of tomorrow are still struggling to shine. At a time when the world is in the throes of change, and the balance of economic power is shifting away from the western economies, the new world order hasn't yet made its mark on watch sales. Figures published by the Federation of the Swiss Watch Industry (FH) reveal that Swiss watch exports are almost completely dominated by the so-called mature markets. Of the branch's ten main markets in 2012, eight are developed economies. Adding Hong Kong to China brings this figure to nine.
Ups and downs
What has happened to countries such as Brazil, India, Indonesia, Mexico or Russia, even Malaysia and South Africa, held up as the main levers for growth in the industry? Brazil, weighed down by excessively high import duties, doesn't even make it into the top 30 markets. India, with a population of 1.2 billion, ranks 25th, on a par with Belgium and well below Austria. Indonesia has virtually fallen off the radar, even trailing Greece. Read more...
