Industry Outlook 2017
The diamond outlook this year seems bright and sparkling like the valuable gemstone itself, according to analysts. The global supply of diamonds is expected to peak in 2017. The world’s largest miner and trader of diamonds “De Beers Group,” has reined in the diamond production to accommodate the declining demand for jewelry and increasing production costs. The costs of diamond extraction are increasing as more rough stones are located deep in the mines.
Millennials happen to be an integral component of the diamond market and diamond shopping trend is all the rage in China. Chinese happen to love this luxury stone and the desire is expected to grow even with the subdued economy. The new generation of consumers that belong to Asia especially to India and China, along with US, provide numerous opportunities of growth to the diamond industry. Millennials are expected to boost the industry sales further if it reaches to them in an effective manner.
According to the Diamond Insight Report 2016, increased sales of the stone are expected regarding the diamond outlook for 2017. The diamond production shall increase most probably in coming years and go down after 2020. But even then, the long-term outlook of the diamond market seems positive. It seems as and is true to an extent that diamond shall never be out of fashion and will be a luxury stone that shall always be in demand.
It is expected in the coming three years that the rough diamond supply shall maintain quite a balance with high demand. The demand for rough diamonds is expected to recover from the recent downturn that diamond industry faced.
Even though a luxury gemstone, people love diamonds. A gem, that not only allows you make a statement but boosts your self-esteem. Diamonds have that effect. For the rich and elite, having diamonds is something that is considered vital in a woman’s jewelry box. There are countless buyers and traders of this stone and it has grown into a full-fledged industry. An event is being held for all diamond lovers and traders in Hong Kong. The 2017 Hong Kong International Diamond, Gem & Pearl Show is a professional trade show for raw materials, loose gems and stones. This show features a wide variety of diamonds, pearls and both precious and semi-precious stones. Jewelers & traders from all over the globe attend this show.
This trade show provides an exposure to the global jewelry industry with its ever-increasing demand of high-quality pearls, stones and raw materials. The fair is gaining popularity and is going in proportion due to its impact that has been heightened with combining with the HKTDC Hong Kong International Jewelry Show. The event is to take place at the AsiaWorld – Expo (AWE), Hong Kong from February 28th- March 4, 2017. (See Our Events Page.)
Last year both of these fairs had attracted over 80,000 buyers from over 147 countries, a record breaking total, and have largely added to the reputation of this show this year as the premier marketplace for quality diamonds, stones and raw materials.
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