Big Prediction for Asian Wine Market
Filed under: Wine
Wine seems to be quickly claiming the title 'drink du jour' around the world and no where is this more apparent than in Hong Kong. Positioning itself to be the wine market hub of the east, just like London and New York are in their respective parts of the world, they are making it easier for individuals to purchase wine. Earlier this year they lowered taxes on the vinous beverage and with a subsequent boom in sales they decided to remove those tariffs all together! This tax abolition has market predictors claiming that the Asian Market will be worth $1.5 billion by 2017 with increased growth to $870 million in China's wine imports. No tax means lower prices which equals higher consumption and greater numbers purchasing higher quality wines. If only New York would go tax-free on wine -- or on gas, groceries and clothing...I can dream, can't I?
