China's growing love of luxury watches remains strong, despite economic headwinds [CNN]
COMPAGNIE FNCE RCH UN/ADR (CFRUY)
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Source: CNN
luxury watch enthusiasts and collectors from around the world, all eager to be inspired by the best new designs and complications. According to a report by the Federation of the Swiss Watch Industry (FHS), mainland China and Hong Kong combined spent over 5 billion Swiss francs (5.49 billion) on watches in 2023, meaning luxury consumers in greater China are the biggest clients when it comes to the 26.7 billion franc (29.3 billion) watch exports business. Ad Feedback But one region's visitors stood out among the crowd — 40% of this year's attendees hailed from Asia according to the event's CEO Matthieu Humair, with a significant portion coming from China. Watching your wealth It's not surprising. Despite economic challenges looming large — including prolonged downturns in both the housing and stock market — China's fascination with luxury watches remains undiminished. In fact, luxury watches are seen by many affluent Chinese as a compelling alternative investment avenue duri
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