The luxury industry is steadily increasing despite the crisis

Luxury is one of the growth engines of the European economy – Financial Times Deutschland (FTD) wrote.

Despite the inadequate economic environment, the industry's performance in the forthcoming years will increase by 7-9 percent. As a result of this growth, the companies of the sector may reach up to 900 billion euros busieness turnover until 2020 – shows the study of Frontier Economics expounded by FTD. Thus, the global traffic in Europe is dominated by companies like Louis Vuitton, Prada and Burberry. More than 70 percent of the global luxury market is supplied with products manufactured in Europe.  (FTD – Világgazdaság Online)