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(May 2008) posted on Tue Jul 08, 2008 EDT

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Verdict Research forecasts global expenditures on luxury-branded products will hit $450 billion by 2012, as the rate of growth doubles. Verdict asserts the Asia Pacific region, which includes China and India, will nearly triple in value by 2012. The region will account for nearly a quarter of global spending at $113 billion, overtaking the Americas as the second-largest market. This region is in danger of taking Europe’s crown as the most valuable market – accounting for 36.2 percent of the total by 2012 compared with Europe’s 36.4 percent.