10 Countries That Spend the Most on Luxury Goods

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2. Japan

Although in 2000 luxury shoppers from Japan represented more than quarter of global luxury purchases, now they are down to only 10%. One of the reasons is the increase in VAT (Value-added Tax) that jumped from 5 % to 8% at the beginning of 2014. Also due to Yen weakening, Japanese shoppers are now spending more money domestically than they ever did before.

Amount spent for luxury goods: 22.3 billion $

10 Countries That Spend the Most on Luxury Goods

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