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Poland's Luxury Goods Market Poised for €12.8 Billion Boom in 2024
2024-12-24 source ownPoland's luxury goods market is on a rapid growth trajectory, expected to reach €12.8 billion in 2024—a remarkable 24.6% increase compared to the previous year, according to KPMG. Leading the charge is the premium and luxury car segment, valued at an impressive €8.3 billion.
This surge is fueled by rising affluence and heightened consumer awareness, with the number of high-income earners in Poland climbing steadily. Currently, around 76,000 individuals earn over €226,000 annually (equivalent to more than 1 million PLN).
Beyond luxury cars, sectors such as high-end hotels, upscale real estate, and premium cosmetics are experiencing robust growth. The art market is also making waves, valued at €130 million in 2023, as more investors recognize its potential as a lucrative asset class.
Poland’s luxury market expansion underscores the growing appetite for premium goods and experiences, reflecting the country's evolving consumer landscape and increasing wealth.
