Charts of the Day: China On Track to Become World’s Largest Luxury Market

China is expected to overtake the U.S. and Europe to become the world’s largest market for personal luxury goods by 2030, according to a new report from accounting firm PricewaterhouseCoopers (PwC).

After fluctuating significantly during the pandemic, China’s personal luxury market is believed to have rebounded to $69 billion last year, due largely to a recovery in international travel, PwC said in the report released Saturday.