By  on May 29, 2013

MILAN — Luxury is not a frivolous concern to Europeans — it’s of strategic importance.

More than 75 percent of Europeans view the high-end products industry as key to Europe’s cultural and economic future, according to a new study presented to the European Parliament in Brussels on Tuesday.

In a survey of 5,000 Europeans across five countries — the U.K., Italy, Germany, France and Spain — 77 percent said European high-end goods were important for employment and growth, up from 69 percent in a similar poll taken in 2009. Seventy-four percent said high-end goods were key to Europe’s global competitiveness.

Similar majorities thought luxury goods were important for the prestige and appeal of cities, and for broadcasting European culture to the world.


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