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2. Japan

Sales (in € billions): 20.1
Growth in euros: 13 percent
Growth in local currency: 9 percent
2014 rank: 2

Spending by local consumers and Chinese tourists looking to capitalize on currency swings helped drive luxury sales in Japan. But while the country ranked second on Bain's list, all of the luxury goods purchases in Japan fell short of those in one U.S. city: New York.

Toshifumi Kitamura | Getty Images