Luxury goods consumers around the world will spend 880 billion euros ($1.2 trillion) on personal items and experiences like holidays a year in 2020, 20 percent more than is spent on such goods today, a study said on Tuesday.
There are currently 380 million luxury goods consumers and this number is set to rise to 440 million in 2020, according to a study conducted by Italian luxury goods association Altagamma and consultancy Boston Consulting Group.
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