New Report Available: Luxury Cigars in Spain
The deep economic recession in Spain is still shaping the performance of luxury cigars. In 2013, sales of luxury cigars declined by 9% in current value terms. This was a slightly worse performance than that recorded in 2012. As VAT increased in September 2012 from 18% to 21%, and taxes on tobacco increased in July 2013, prices increased accordingly, and demand suffered as a consequence.
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