Growing luxury market in Mexico

This year, the sale of cars, watches, wine, champagne, designer clothes and other luxury goods will grow by 5.2 percent compared to $ 13,000 300 million of dollars in 2013

According to the firm WealthInsight, Mexico is the second Latin American country with the highest number of millionaires after Brazil. In total, the research agency states that 164,000 Mexicans had a net worth (no debts or liabilities) of more than a million dollars in 2013, while Brazil has 191,700 millionaires.

In 2013, the number of millionaires in Mexico grew 13 percent compared to the 145,000 people with high net worth recorded the previous year.

"In last year's study, WealthInsight said these few Mexicans account for nearly 43 percent of the total wealth of the country and that reflects the landscape of inequality that exists," said Fernanda Hopenhaym, member of Project Organization Development education and Research (Power).

A study published in May by Power found that 37 members of the Mexican businessmen Businessmen Council (CMHN) had direct influence on the equivalent of a third of the Gross Domestic Product (GDP) capital.

Despite the economic crisis, the market for luxury goods has maintained high growth rates for five years "and this year is no different," said Abelardo Marcondes, CEO Forum Luxurylab analysis, a firm that evaluates the value of Premium super market.

By way of comparison, the Mexican market represents such a luxury to total planned investment by the federal government for the tourism sector in the period 2014-2018, part of the National Infrastructure Plan figure.

For 2018, the categories with higher expected growth in this business niche are four clothing designers ready for use; accessories; -contemplados jewelry and watches as a category-and, finally, wines, champagne and spirits, also considered in one segment-, according to Euromonitor International.


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