ABSTRACT
Africa’s economic performance has improved greatly since the turn of the century, leading to notable gains in gross domestic product (GDP) per capita and lower levels of poverty. Several African countries are expected to be among the fastest growing countries in the world over the next decade. The following countries are expected to have the most potential for luxury goods demand expansion: Angola, Egypt, Ethiopia, Ghana, Kenya, Morocco, and Nigeria. The baseline expectation is that economic activity will expand by more than 5 percent per annum (p.a.) in all selected countries except Egypt by 2020. While on the aggregate, the African luxury good sector remains in its infancy, taking into account the demographic dividend and rising per capita GDP levels, the potential for expansion remains vast.1 Especially, small African companies have the ambition to introduce luxury products to the outside world. Often, these products have a strong link to their home country and also want to sell the African spirit or experience (Figure 1.1).
