The European market for luxury goods is anticipated to hold its position as the most lucrative in the world.

According to a new study, although China is witnessing high levels of growth, Europe remains the largest region for such purchases and is expected to expand by almost $60 billion to $175 billion by 2015.

The Verdict report may be of interest to those seeking retail jobs in Europe, as it indicates sales of luxury items recovered in 2010 having dipped during 2009 in the wake of the financial markets crisis.

"Although the market for luxury retail is mature in Europe, there are a great number of opportunities for growth," Verdict retail analyst Ruta Perveneckaite noted.

She added this will be fuelled by anticipated rises in the number of wealthy people in nations such as the UK, France, Italy and Germany during the coming four years.

Figures from Eurostat recently showed the seasonally adjusted unemployment rate in the European Union stood at 9.6 per cent in December 2010, unchanged from the previous month.

Posted by Alex Donnell