"The war in the Middle East will have certainly a huge impact for the Swiss exports because it represents 10% of the total Swiss watch exports, so it's quite substantial."
"Some markets in the Middle East are totally halted. In the United Arab Emirates, for example, 60% of business is done with tourists. You can imagine that nothing is going on currently."
"We have very few cancellations. We had to adapt some travels, but we are expecting a record edition in terms of numbers of visitors."
The Watches and Wonders fair in Geneva aims for a rebound in the luxury watch industry after two years of contraction. The ongoing U.S. and Israeli war against Iran has negatively affected the global economy, leading to increased energy prices and disrupted shipments. High-end watches are impacted by rising precious metal prices and tariffs. The war significantly affects Swiss watch exports, particularly in the Middle East, where tourism-driven markets are stalled. Despite challenges, the fair expects a record number of visitors.
Read at Fast Company
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