Rise of Empires: Spain.

Chapter 593 Luxury Goods Street (Happy New Year!)
According to statistics from the Spanish customs authorities, the number of foreign tourists visiting Spain surged starting in March 1917.

Especially after May, with the opening of the Madrid Olympics approaching, the number of foreign tourists increased several times over, with as many as 5 tourists coming to Spain on the busiest day.

It is certain that at least hundreds of thousands of foreign tourists have come to Spain because of the Madrid Olympics, with the majority of them heading to Madrid or Barcelona.

For some cities that are popular with foreign tourists, tourism has become one of the important pillar industries of the city's economy, playing a vital role in the city's economic development.

Carlo was also aware of the impact of tourism, which was a major source of economic development that was in no way inferior to other economic sectors.

Spain also has an advantage in tourism. After merging with Portugal and Morocco, Spain spans Europe and Africa and boasts a long coastline.

Some places are unsuitable for industrial and agricultural development, but are perfect for tourism. The deserts of Andalusia, in particular, while not large in area, are genuine deserts, offering visitors a true desert experience.

This desert later became a famous filming location, and experiencing the charm of the desert without any danger is very attractive to some tourists.

Of course, various tourist attractions are just one way to attract tourists. If we really want to develop the economy through tourism, we also need well-developed shopping venues to encourage spending by foreign tourists.

The good news is that most foreign tourists are focused on the Madrid Olympics. Olympic tickets have become extremely scarce, and some foreign tourists, unable to secure tickets, have been forced to buy them from local Spaniards at several times the price.

Even so, many foreign tourists are still unable to get tickets and can only keep asking the Spanish government to add more seats.

Since these foreign tourists are so wealthy, Carlo is happy to have Spain provide them with more comprehensive services, such as building a luxury street specifically for them.

In this day and age, those who can afford to travel internationally are mostly wealthy. As long as Spanish goods are unique enough, they won't hesitate to spend their money to buy them.

All of this is predicated on Spanish goods having enough appeal to attract tourists, and a vast and well-developed luxury avenue is Carlo's plan to boost spending by foreign tourists.

The famous luxury shopping streets of France that would later become renowned were not yet so well-known at this time. Furthermore, the world war had inflicted so much pain on the French people, and the French economy had not yet fully recovered.

Since Paris, France, cannot provide foreign tourists with a complete shopping experience, Spain naturally has to assume the responsibility of a major power to build a sufficiently comprehensive luxury avenue, making it famous at home and abroad, and a shopping paradise in the minds of all foreign tourists.

Given Madrid and Barcelona's status as twin cities, in addition to building a luxury avenue in the center of Madrid, there will also be a similar luxury shopping street in the center of Barcelona.

Of course, since the Olympics are being held in Madrid, the Spanish government needs to prioritize the construction of shopping streets in downtown Madrid.

The good news is that, with Spain's development over the years, Madrid has become very prosperous. While the main streets in the city center may not be entirely dedicated to luxury brands, with some renovations and the addition of more luxury brands, they could be transformed into a respectable luxury street.

To promote the reputation of Spain's luxury street, Carlos personally named it Iberia Avenue and specially took a considerable portion of the royal family's jewelry to open shops on Iberia Avenue for sale.

In addition, the jewelers and watchmakers supported by the royal family also contributed their recent works to help make the Iberian Boulevard famous.

Coupled with the propaganda efforts wielded by the royal family, news about the reconstruction of Iberia Avenue had already spread throughout Spain and even across Europe before the project was even completed.

Don't underestimate the power of fame. Carlo simply used media coverage to promote the upcoming redevelopment of Iberia Street, and the news immediately attracted the attention of luxury brands in Spain and across Europe.

If Spain can truly transform the so-called Iberian Boulevard into a famous shopping street in Europe and even the world, luxury brands across Europe would not only be able to enhance their reputation by setting up shop on this street, but also elevate their status as luxury brands.

Especially with Carlo personally naming the street and contributing some of the royal family's treasured jewelry, the street's prestige has been significantly elevated.

Carlo also intends to cultivate a sophisticated image for Iberia Boulevard. Although luxury brands have already contacted the Madrid city government, hoping to establish themselves on this shopping street once it is completed.

However, the Madrid city government responded that the renovation of Iberia Boulevard was a key project of the Madrid city government in 1917, and the entry of luxury brands required a series of complex review processes to ensure that the products and their value were sufficient to be allowed on the street.

Simply put, not all luxury brands can enter this street. Only luxury goods of sufficient value have a chance to be seen and appreciated.

This might be the unspoken allure of prestige. If the Madrid city government were begging these luxury brands to set up shop on Iberia Street, they might not be so keen.

However, if the Iberian Boulevard is first established in terms of brand recognition, and then it is publicly stated that only high-end luxury brands can be allowed to set up shop on this shopping street, then those brands that consider themselves high-end luxury brands, even if they know this is a Spanish promotional tactic, will have no choice but to do everything they can to enter this street.

After all, the public isn't aware of the inside story. From their perspective, if a luxury brand can't have a store on Iberia Boulevard, doesn't that mean the brand is somewhat unworthy of its name?

Especially under the massive propaganda campaign in Spain, even if luxury brands try their best to explain, their influence and status will be greatly reduced.

The reason why luxury brands are so sought after is entirely due to the influence of their own brands and the intangible prestige they exude.

Carlo was well aware of this, which is why he chose to first establish the reputation of the Iberian Avenue.

For nobles and the wealthy, the quality of a product was not determined by its value or the craftsmanship of the product itself.

What truly determines the quality of a product is the positive image it can enhance.

Especially with a well-known luxury item, a wealthy person can subtly demonstrate their wealth and ability simply by carrying it out, something that a lesser-known product simply cannot achieve.

If luxury brands lose their prestige, even if the quality is excellent, wealthy people will not buy them.

In addition to a wide variety of jewelry, the Iberian Boulevard also brings together all kinds of luxury goods from across Spain, including limited-edition red wines produced by the Royal Carlos winery.

It has been several decades since Carlo's Royal Spanish Winery was founded.

Spanish wine brands have already established a strong reputation and hold a significant market share in France and throughout Europe.

While its influence cannot yet rival that of French wine, it is arguably the best alternative to French wine.

Even in the ultra-premium wine sector, the wines produced by Château Carlo's Royal Winery, in terms of both brand recognition and prestige, are actually superior to those of French wine brands.

The most valuable red wine produced by the Royal Winery is the Coronation of Carlo commemorative wine, which is only produced in limited quantities every ten years.

In particular, the limited-edition red wine launched in the year of Carlos' coronation now costs more than 1000 pesetas per bottle, which is equivalent to two years' total income for a Spaniard.

Despite its exorbitant price, this limited-edition red wine remains in a state of high demand but low supply. If anyone were willing to sell a copy of the limited-edition Carlo Coronation wine from that year, someone would be willing to pay several times the price to buy it.

Of the red wine produced that year, aside from a portion that was given as gifts to kings of various countries and Spanish nobles, most of the rest was kept by Carlo, with only a few dozen bottles sold each year.

The price of these wines will increase with the length of time they are stored. The commemorative significance of the limited-edition wine produced in the year of Carlo's coronation will also subtly enhance the value of the wine.

Compared to the limited-edition wine produced in the year of Carlo Coronation, the limited-edition wines produced every ten years, such as the 10th and 20th anniversaries of Carlo Coronation, are not as exorbitantly priced.

However, these wines are priced at around several hundred pesetas, and if you really want to buy a bottle, you'll likely have to pay a significant markup.

Given Carlo's immense prestige and influence, Spanish nobles considered it an honor to own a bottle of limited-edition red wine from the year of Carlo's coronation.

The popularity among Spanish nobles has, to some extent, increased the value of these wines. Nowadays, if a limited-edition wine produced by a royal winery is opened at a banquet of Spanish nobility, the prestige of the banquet will be subtly elevated, which is also an honor for the host.

To enhance the visibility of the Iberian Boulevard, Carlo deliberately revealed that after the renovation of the Iberian Boulevard is completed, a large number of limited-edition red wines will be sold there.

As expected, this news immediately attracted the attention of Spanish nobles and merchants. While these wines might be considered high-end luxury items outside of Spain, in Spain they held extraordinary political significance, proving highly valuable to capitalists and nobles.

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(End of this chapter)