Poles’ spending on luxury goods growing twice as fast as the GDP

In 2017, the reports indicated that there was an increase in the total expenditure on high-end jewelry Poland. A 10.6% increase was recorded which is more than the country’s GDP growth rate of 4.6% as recorded last year.
The annual increase in the funds spent by the Polish consumers on luxury jewellery such as watches and alcohol is expected to remain at 11% in the next three years, according to the Rzeczpospolita daily.

The market for high-end jewellery that has been enhanced with diamonds and gems has grown in Poland. The market is currently attracting many jewelers from the international markets.

The value of goods exported by the Italian jewellery brands to Poland increased by 15% in 2016, the total value of expenditure was reported to be EUR 44 million (PLN 183 million), as reported by the country’s Central Statistical Office (GUS).

 Rzeczpospolita has also reported an increase in the demand for other products such as cosmetics, alcohol, wine, champagne, cognac, and brandy in recent years.

Wealthy Poles are also patronizing recreational and leisure facilities such as spas and luxury hotels more often in recent years.