19:27 28 May 2023
The luxury goods market in Poland keeps on growing
According to the KPMG report "Luxury Goods Market in Poland: Luxury in Uncertain Times," the value of the luxury goods market in Poland reached PLN 37 billion in 2022, which was nearly 19 percent higher than in 2021.
The largest segment in the luxury goods market is premium and luxury cars, with a value of almost PLN 25 billion in 2022. On the other hand, the luxury hotels and spa sector experienced the highest growth (45.6 percent y/y) and reached a value of PLN 2.6 billion.
The report also includes earnings data for the year 2021. By the end of that year, there were 320,000 people in Poland earning above PLN 20,000 per month, representing an almost 13 percent increase compared to 2020. The total income of these affluent Poles increased by 9.8 percent y/y in 2021, reaching a value of PLN 220 billion.
Poland had over 100,000 individuals classified as high net worth individuals (HNWI) by the end of 2021. HNWIs are individuals with a net worth of at least $1 million. 91 percent of them have a net worth between $1 and $5 million. Polish individuals with net assets exceeding $50 million accounted for 0.3 percent of all HNWIs.
(INTERIA)
