Marbella luxury goods market second-largest in Spain

According to a study carried out by the Luxury Spain Association, Marbella is in second place when it comes to revenue generated by the luxury goods market, having been outranked only by Barcelona, and finishing way ahead of Spanish capital Madrid, which came third…

Despite being only a fraction of the size of Spain’s two largest cities, Marbella – whose luxury hubs include Puerto Banús and the Golden Mile – accounted for €1.56 billion of the luxury goods spend (27.5% of the national total), with Barcelona registering €1.82 billion (32%), and €909 million (16%) attributed to Madrid. Ibiza and Mallorca were in fourth and fifth place with, respectively, €483 million and €341 million, while other Spanish towns and cities accounted for the remaining €568 million.

Further data published in the report shows that, so far as the EU luxury market is concerned, Spain is in fifth place after France, Italy, Germany and Switzerland and that while in 2011 Spain’s luxury goods sector turned over €4.5 billion, it was expected to reach €5.69 billion by the end of 2015, equating to a 4.8% increase in figures for 2014.

The gourmet and beauty markets – together accounting for 55% of the total business – came top of the list, followed by high-end tourism products and services.