Swiss watch exports grew another 14.6 percent in May year-over-year, according to a recently released statement by Swiss Watchmaking Federation. Demand for high-end watches, or those costing more than $3,000 US were up an astonishing 40 percent. Hong Kong remains destination number one, with the United States the second biggest market.
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This is an amazing development. It’s really amazing, because it doesn’t seem like a recession is doing anything to slow demand. I will be interested to see if gas prices have any impact on spending but maybe people who buy these watches don’t worry about things like gas.