Forget Buying Luxury Goods, Buy Luxury Goods ETFs
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A study conducted by Bain & Company forecasts annual sales of luxury goods to grow at 7 percent to 9 percent through 2014, led by spending in China, where luxury goods sales are expected to grow by 22 percent this year.
Total sales of global luxury goods will reach $260 billion in 2012, despite economic stresses around the world and recession in parts of Europe. Sales in North America are expected to grow by 5 percent to 7 percent.
Investors can take advantage of growth in this area by purchasing Global X China Consumer ETF (NYSE: CHIQ). This ETF is designed track the performance of companies in the consumer sector in China.
Total sales of global luxury goods will reach $260 billion in 2012, despite economic stresses around the world and recession in parts of Europe. Sales in North America are expected to grow by 5 percent to 7 percent.
Investors can take advantage of growth in this area by purchasing Global X China Consumer ETF (NYSE: CHIQ). This ETF is designed track the performance of companies in the consumer sector in China.
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