Wealth and Marbella go together like Switzerland and watches, but the affluent city has eclipsed all expectations by firmly establishing itself at the heart of the global luxury market.
The Golden Mile alone captured over a quarter of all sales in the sector across Spain and shot Marbella to second place on the ‘Luxury Spain’ rankings, ahead of Madrid and just behind Barcelona. It is an astonishing result for a city with just a fraction of the population of its regional rivals.
Over €1.5 billion in luxury sales flowed from Marbella in 2015, half a billion more than in Madrid. The celebrated cultural hotspot, home to many of the world’s rich and famous, was the only Spanish city to improve on last year’s figures, earning an incredible 27.5 per cent of the nation’s total sales.
More than €5.6 billion was generated by the Spanish luxury sector this year, 55 per cent linked to the gourmet and beauty markets, as the industry continues its voracious growth in defiance of the recession.
Spain now holds fifth place in the EU luxury market, with Marbella at the peak.