Exhibitors at the Hong Kong International Jewellery Show have seen a significant return of buyers from around the world, after last year's major slump in business.
The economic crisis knocked the wind out of the luxury market. But there finally appears to be a glimmer of hope for the jewellery business.
One of world's biggest luxury exhibitions is the Hong Kong International Jewellery Show.
It has attracted 2,600 exhibitors from 44 countries this year.
The halls were far from jam-packed, but exhibitors said the situation is much improved from last year's dismal slump.
Vernon Oehlsen, exhibitor, Thousand Million Jewellery, said: "Last year, I did not even come in March, because the amount of American customers that came to the show was almost zero. This year, there are some Americans, not as many as previous years, but it is getting better."
Last year, exhibitors estimated that business fell as much as 80%.
This year, they are expecting a 10 percent increase in sales.
Buyers have bigger budgets, but they are still shying away from placing big orders.
Teresa Wong, exhibitor, On Tak Hong, said: "I am not here to buy. I am just looking around and checking the price."
And although there were lavish items on display, the focus is still on affordability.
One buyer said: "What we are looking for is something that the people can buy without paying a lot."
Those in the jewellery business widely believe this fair reflects the health of the industry. And judging by their response, they are staying cautiously optimistic that this year will be a brighter one.
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