Baselworld opens its doors today with a host of leading luxury watch and jewellery brands showcasing their latest creations to the world.

This year, the world’s biggest watch and jewellery fair has as many as 1,500 exhibitors including 304 Swiss brands in attendance at the event.

Now in its 99^th year, Baselworld is expected to attract more than 150,000 visitors from 100 countries over the course of its eight days (March 17 to 24) at the Messe Basel in Basel, Switzerland. 

Baselword organizer MCH group said that despite the challenging world economic climate, the industry is looking to the future with optimism.

CEO René Kamm said the show had evolved from being a small exhibition to become “the premier platform for the global watch and jewellery industry”.

Baselworld Managing Director Sylvie Ritter added: “Baselworld is unique because year after year this is the birthplace of trends that will prevail for the following 12 months.” 

She said that despite the global gloom, almost all of those who had exhibited last year, were present at the 2016 edition. “They have faith in Baselworld and know that we will continue to move forward, continue to invest in the future, further increase the quality and attractiveness of this event to strengthen the leadership role Baselworld plays.”

The new President of the Baselworld Exhibitors’ Committee, Eric Bertrand, said: “I have spent the whole of my career in this industry and I have never ceased to be surprised, not only by its continuous creativity and innovation but equally by its ability to react to difficult situations and bounce back farther and higher from challenges.”

Bertrand said this strength was no coincidence, but that “these successes and achievements are the result of passionate people active in the areas of watchmaking, jewellery and precious stones”. 

François Thiébaud, President of the Swiss Exhibitors’ Committee, said that despite a fall of 3.3 percent in exports in 2015, the sector performed better than all other industries in Switzerland.

“Overall, with exports to the value of CHF1.5 billion ($1.54 billion), the level in 2015 was still very high,” he said adding that the Swiss watch sector has grown by over 60 per cent since 2010.

He forecast an upturn in the near future, as recent sales have “primarily involved the running down of stocks”. 

Thiébaud paid a glowing tribute to the show, noting that “Baselworld is where beauty and innovation are in the service of time.”