European Knight
09-20-2014, 08:33 AM
http://www.wfmz.com/image/view/-/16733482/medRes/2/-/maxh/276/maxw/410/-/cbqyii/-/Big-diamond-jpg.jpg
Country now accounts for 13% of global diamond demand
HONG KONG (CNNMoney) -
A diamond is forever ... especially in China.
Global diamond jewelry sales hit a record $79 billion last year, led by strong interest from the Chinese for the rare gem, according to a report from De Beers.
Polished diamond sales in China rocketed by 14 percent last year alone, double the pace of growth seen in the U.S.Overall, sales of diamond jewelry to the Chinese have been the fastest growing in the world, averaging about 21 percent a year over the last decade. China now accounts for 13 percent of global demand, up from just 3 percent in 2003.
The U.S. is still the world's largest diamond market but companies such as De Beers are increasingly looking to China for growth.
As disposable incomes rise, Chinese consumers are driving global markets for luxury products including expensive watches, handbags, cars and diamonds. Chinese now represent nearly one-third of global luxury purchases, according to the report.
China is still seeing much higher than average growth in diamond sales, even though some luxury segments have been hurt by a government anti-corruption campaign, and a slowing economy
http://www.wfmz.com/lifestyle/money/china-drives-global-diamond-jewelery-sales-to-79-billion/28148314
Country now accounts for 13% of global diamond demand
HONG KONG (CNNMoney) -
A diamond is forever ... especially in China.
Global diamond jewelry sales hit a record $79 billion last year, led by strong interest from the Chinese for the rare gem, according to a report from De Beers.
Polished diamond sales in China rocketed by 14 percent last year alone, double the pace of growth seen in the U.S.Overall, sales of diamond jewelry to the Chinese have been the fastest growing in the world, averaging about 21 percent a year over the last decade. China now accounts for 13 percent of global demand, up from just 3 percent in 2003.
The U.S. is still the world's largest diamond market but companies such as De Beers are increasingly looking to China for growth.
As disposable incomes rise, Chinese consumers are driving global markets for luxury products including expensive watches, handbags, cars and diamonds. Chinese now represent nearly one-third of global luxury purchases, according to the report.
China is still seeing much higher than average growth in diamond sales, even though some luxury segments have been hurt by a government anti-corruption campaign, and a slowing economy
http://www.wfmz.com/lifestyle/money/china-drives-global-diamond-jewelery-sales-to-79-billion/28148314