SA leads Africa’s luxury market boom
Country is home to a rising number of high-net worth individuals and innovative retail spaces
25 November 2024 - 05:00
SA has emerged as Africa’s premier luxury destination, defying economic pressures with a thriving high-end retail sector, according to the seventh annual state of the luxury market report by Luxity.
Despite Sub-Saharan Africa’s GDP per capita dropping to $1,540 and inflation soaring to 15.28%, SA’s luxury market continues to grow, driven by strong consumer demand and a rapidly expanding pre-owned segment, according to the report...
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