Luxury spending bounces back to pre-crisis levels, thanks largely to wealthy Americans and...

|By:, SA News Editor
Luxury spending bounces back to pre-crisis levels, thanks largely to wealthy Americans and nouveau-riche Chinese. According to Bain & Co.'s annual survey, global indulgence spending will surge 10% to $235B in 2010, recovering from a disastrous 8% drop in 2009. U.S. sales will climb 12%, compared with 6% growth in Europe and 22% growth in Asia.