Yesterday Ledbury Research published findings of a new study that took place investigating the Top 5 New Luxury Market Countries.

Throughout the economic downturn within the UK we saw the closure of many high street stores, however we didn’t really hear of luxury retailers grinding to a halt. They’ve gone from strength to strength and we’ve been hearing for a while of the success designer products have within Japanese and Chinese tourists within the UK and USA becoming one of their most popular consumers.

However this research showed the new countries that have now joined the luxury consumer market. The top 5 are:

1. Jordan

2. Panama

3. Ghana

4. Dominican Republic

5. Saudi Arabia

I was surprised by Jordan as the number one new country for luxury retailing as most of the country is still in poverty however the new flourishing market for luxury has been increased since the opening of stores such as Louis Vuitton, Cartier and Bulgari within some areas.

This shows the expansion that the luxury market are still having and the development that has begun in more countries.