The future is looking bleak with looming power shortages, inflation, rising interest rates and geopolitical tensions at record highs. Add to that the summer’s repeated heat waves that have made climate change a grim reality and it makes for a perfect storm. Yet demand for luxury goods has never been so high. Tourism has rebounded in recent months and consumers have been splurging on luxury hotels, watches and other discretionary spending items as if there was no tomorrow. The order books of luxury watchmakers are full, some for as much as several years, executives said at the third edition of the Geneva Watch Days (GWD). The industry trade fair took place last week on the banks of lac Léman.