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The world's biggest luxury markets in 2015

Visitors walk underneath New Year's Day decorations celebrating next year's 'Year of the Monkey' from the Chinese zodiac, at the Nakamise shopping alley in front of Sensoji Temple in Tokyo on December 26, 2015.

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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