Brussels – Europe’s high-end and luxury industry generates a turnover of €986 billion, contributing 5% to the continent’s GDP. These are some of the key figures released by the European Cultural and Creative Industries Alliance (ECCIA), of which Italy’s Altagamma is a founding member.
The sector continues to act as a driver of economic growth while safeguarding cultural heritage and promoting European excellence far beyond its borders. The new report, produced in collaboration with Bain & Company, was presented at the European Parliament in Brussels.
“Europe’s high-end industry is a global leader in a market projected to double in value by 2030, potentially reaching €2.5 trillion,” said Stefania Lazzaroni, CEO of Altagamma. “Its social impact is significant as well: 2 million jobs in 2024, with 160,000 created since 2019. Companies in this sector reinvest up to 3% of revenues in sustainability and up to 5% in training.”
Luxury tourism is another important dimension. “Some 40% of high-end tourists choose Europe specifically to purchase our artisanal products,” Lazzaroni noted. “In a challenging year like this one, it’s more important than ever to present the sector’s contributions and needs to the European Commission. This is a strategic industry, rich in cultural and economic value, that deserves protection.”