Türkiye continued to expand its imports of Swiss watches in the first half of 2026 despite fluctuations in global luxury watch demand, business daily Ekonomi reported, citing data from the Federation of the Swiss Watch Industry (FH).
Swiss watch exports worldwide declined by 0.7 billion year-on-year to 12.8 billion Swiss francs during the first six months of 2026. In contrast, exports to Türkiye increased by 6.9 percent to 165.2 million Swiss francs, or 9.56 billion Turkish Liras. The figure compares with 145.2 million Swiss francs in the first half of 2024 and 154.5 million Swiss francs in the same period of 2025. Türkiye maintained its position as the 17th-largest market for Swiss watch exports worldwide.
In the first half, Swiss watch exports fell in countries including the United States, China, Germany, Italy, Spain and the Netherlands.
Industry representatives said luxury watches are increasingly viewed as symbols of wealth, social status and success. Limited supply of brands such as Rolex, Patek Philippe, Audemars Piguet and Richard Mille has also helped sustain strong values in the secondary market, reinforcing the appeal of luxury watches as an alternative store of value.
Rising demand for luxury watches in Türkiye has been supported by the growth of the country’s high-income consumer segment and a new generation of wealthy individuals. Entrepreneurs, technology professionals, finance sector executives and individuals who have accumulated wealth through social media-related businesses are among the groups showing increased interest in luxury watch purchases.
A recent UBS Global Wealth Report found that the number of dollar millionaires in Türkiye reached 93,000. Over the course of one year, 5,650 people attained millionaire status, placing Türkiye second globally in terms of the rate of increase.
