Mainland China and Hong Kong Luxury Market Insights: “Retrieve customer values for growth and sustainability”

February 2023

PwC launched Mainland China and Hong Kong Luxury Market Insights: “Retrieve customer values for growth and sustainability”, pointing out that with tourism and social activities gradually on the right track, the global luxury market is recovering steadily, and it is expected that the global market will increase to USD444.7 billion at a compound annual growth rate of about 11% by 2025. And the Asia-Pacific region has become an important growth engine of the global luxury market, and China, as the main driving force, will continue to release its growth potential. It is estimated that the size of China's luxury market will reach RMB 816 billion in 2025, which will account for about 25% of the global luxury market share.