Ireland Imported 200M€ of Swiss Watches in 2024

In 2024, the global luxury watch market saw significant shifts, with some regions experiencing growth while others faced declines. Among these, Ireland has emerged as a key player, showcasing a remarkable increase in Swiss watch imports.

With a 1.3% rise compared to 2023, reaching 196.8 million CHF (approximately 200 million euros), Ireland’s growing market demonstrates a promising future for the country as a destination for luxury watch collectors.

The data comes from the Swiss Federal Office for Customs and Border Security. While global Swiss watch exports experienced an overall decline of 2.8% in 2024, Ireland's import figures stand out with a 28.2% increase over the past two years.

This surge highlights the growing demand for Swiss craftsmanship among Irish luxury buyers, positioning Ireland as one of the most dynamic markets in Europe.

Factors Driving Ireland’s Growth in Luxury Watches

Several factors contribute to Ireland's growing prominence in the luxury watch market:

1. Increasing Wealth Among Irish HNWIs and UHNWIs: The rise in high-net-worth individuals (HNWIs) and ultra-high-net-worth individuals (UHNWIs) in Ireland has boosted demand for luxury items, including Swiss watches. Wealth creation, particularly in finance, technology, and real estate, is fueling an appetite for the finest timepieces.
2. The Appeal of Swiss Craftsmanship: Irish collectors have long appreciated Swiss watchmaking. The intricacy, precision, and heritage of Swiss brands continue to captivate Ireland's discerning clientele. As Ireland grows as a hub for international business, Swiss watch brands are increasingly reaching these affluent buyers through exclusive retail channels.
3. Global Luxury Trends: Despite challenges in key markets like China and Hong Kong, the allure of luxury remains strong. Ireland’s stable economy and growing reputation in global financial circles make it an attractive destination for luxury brands, including Swiss watchmakers looking to expand their presence.

Impact of Ireland’s Growing Demand for Swiss Watches

While Swiss watch exports in 2024 saw mixed performance worldwide, Ireland’s import figures reflect a growing demand for Swiss timepieces. With a 1.3% rise in 2024 and a 28.2% increase over the past two years, Ireland's performance stands out as one of the most dynamic in Europe.

This upward trend suggests that Irish buyers are embracing Swiss watches more than ever, making Ireland an increasingly strategic market for luxury watch brands.

As global markets fluctuate, Ireland’s strong performance in Swiss watch imports signals a shift in the global luxury landscape.

The demand from Irish collectors highlights their preference for the precision, heritage, and exclusivity that Swiss watches offer, further solidifying Ireland’s role in shaping the future of luxury watch consumption.

Looking ahead, Ireland’s position as an emerging luxury market is clear. The country’s affluent consumers are continuing to embrace Swiss watch brands, with 2024 marking another year of solid growth.

As Ireland continues to attract high-net-worth individuals and luxury buyers, the demand for Swiss timepieces is likely to rise, further cementing the country’s place in the global luxury watch ecosystem.

For collectors, investors, and watch enthusiasts in Ireland, the future of Swiss watches remains bright, with a growing market that values both heritage and innovation.