Which nationalities buy the most diamonds? | BNT Diamonds

Which countries and nationalities are best represented in the global diamond market?

22 Jul 21
  • What did global diamond consumption used to look like?
  • How did that change over recent years?
  • How do those changes influence the market?

To buy diamonds is to make a smart investment for a diverse portfolio thanks to the lucrative supply and demand ratio. Have you wondered where that demand originates? Where does it continue to grow and why?

What did global diamond consumption used to look like?

The diamond market as it is today came into being throughout the 1940’s thanks to the world famous De Beers marketing campaign. Their multidisciplinary approach combined memorable slogans with presentations about diamond engagement rings across schools, populistic news segments about celebrities and their diamonds, and much more. To buy diamonds was to become a member of a very exclusive club. The cross-channel promotion transformed the diamond market in a matter of years. The US in particular responded heavily to the campaign and boosted global diamond sales exponentially.

The campaign’s enormous success was strikingly reflected in the numbers: De Beers grew from $23 million in diamond sales in 1939 to $2,1 billion in 1979.

Fancy red coloured diamonds in different shapes

How did that change over recent years?

Although the diamond market heavily evolved since then, the US stayed the largest diamond consumer worldwide. In recent years, the nation has even been responsible for roughly half of global diamond sales. The largest changes in the market were under the influence of growing economies, such as those of the BRIC nations, where the growing middle classes cause a surge in the consumption of luxury goods. Especially Asian countries saw an exponential rise in diamond consumption. Hong Kong, Mumbai and Singapore in particular have become very active members of the diamond market.

In Singapore, particularly investment purposes are high up the list of reasons to buy diamonds. India and China buy diamond jewellery more than they do investments. By 2020 both countries are even expected to surpass the US when it comes to diamond jewellery consumption.

How do those changes influence the market?

Even though the diamond market flourished in recent years, especially due to the economic crisis of 2008, the influence of growing economies brings about very influential growth. It widens the gap between supply and demand, especially since many diamond mines are expected to dry out in the near future. Although new possibilities of mining diamonds are continuously explored, diamond prices are expected to steadily rise over the next few years.

What type of investment diamond is perfect for my portfolio? How can I buy diamonds at the right time in the diamond market? Contact the diamond experts at BNT Diamonds for your ideal investment.

Fabienne Rauw
About Fabienne Rauw
BNT Diamonds Antwerp

Fabienne, manager of the German market is able to guide every client with finding the right jewel. She takes care of most of the German orders, but also takes other task on her plate. Thanks to her six years of experience at BNT Diamonds she acquainted well with the product and the marketing around it. Her degree in PR ensures that BNT Diamonds is well presented across all media channels. For anyone looking into a new investment opportunity, Fabienne is the perfect guide in this process. No question will be left unanswered, and she will help you every step of the way.

With this article, BNT Diamonds strives to inform you thoroughly about investing in diamonds. No investment can be guaranteed to be without risk or fully according to your expectations. That is why we recommend to research the risks and aspects of investing in diamond properly to ensure that you make the right choice for your portfolio.