LONDON — Panama, Ghana and the Dominican Republic could well be the luxury hubs of the future, according to a report to be published later this week by Ledbury Research.
The consultancy’s twice-yearly “HotSpot” report examines new markets around the world and measures their potential appetite for luxury goods based on factors including business air travel, luxury retail, economic and wealth growth.
Jordan stands in the top spot in the latest ranking, thanks to a new Louis Vuitton store that opened in Amman in July, and also to the capital’s Cartier, Bulgari, Tiffany & Co. and Burberry stand-alone stores. Ledbury points out that Jordan’s economy has grown at an average rate of 4.3 percent a year since 2005, and the 2011 gross domestic product per capita is $6,000. Unemployment is high, however, as is public debt, while instability in the region remains a risk.
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