Exports to China, a key market for watchmakers, contracted by 13.6 percent in 2022 due to Beijing's zero-Covid policy. With China reopening, many financial analysts have sharply raised their growth forecasts for the luxury sector as a whole in 2023
Switzerland's major luxury watch brands are cautiously optimistic that Chinese tourists will boost sales this year, if they return to Europe in large numbers after the easing of domestic Covid restrictions.
Exports to China, a key market for watchmakers, contracted by 13.6 percent in 2022 due to Beijing's zero-Covid policy and the surge in infections when it was lifted at the end of the year.