Basel shows off luxury to the world
The Basel world watch and jewellery fair opens its doors on Thursday with high hopes that 2006 will prove another bumper year for the luxury goods sector. The Swiss watch industry will be particularly keen to put in another record performance after posting exports totalling more than SFr12 billion ($9.16 billion) in 2005.
But there was also a warning on the sidelines of this year's glamorous Baselworld event that the sparkle of gemstones comes at a high human price in the developing world. If analysts are to be believed, high demand in the luxury goods sector is set to continue in a world economy that has been steadily growing.
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