News / Economy

Wine Experts Say Holiday Champagne Recession Over

A man holds a tray of champagne flutes at the end of the A.F. Vandevorst Spring/Summer 2014 women's ready-to-wear fashion show during Paris fashion week Sept. 27, 2013.
A man holds a tray of champagne flutes at the end of the A.F. Vandevorst Spring/Summer 2014 women's ready-to-wear fashion show during Paris fashion week Sept. 27, 2013.
Reuters
After years of resorting to less costly sparkling beverages, many wine experts said they will be popping champagne corks this New Year's Eve, which could be an indication of better economic times ahead.
 
A 2012 study by Karl Storchmann, an economics professor at New York University and managing editor of the Journal of Wine Economics, showed sales of French champagne are a fairly accurate indicator of Americans' future income.
 
“If you consider [sales of] champagne to be an economic indicator as some do, it ... has been growing significantly up since the 2008 recession, and we expect that growth to continue in 2013,” said Sam Heitner, director of the trade association Champagne Bureau USA.
 
Lee Sanning, an economics professor at Whitman College and, like Storchmann, a member of the American Association of Wine Economists, agrees.
 
“Sales of luxury goods, including that of champagne, make good leading indicators,” he said.
 
Richard Juhlin, whose book “A Scent of Champagne” boasts tasting notes and ratings for 8,000 champagnes, will be swilling some of the world's top of the line bottles this holiday season.
 
“We will have a five-course champagne dinner,” Juhlin said.
 
While his choices have not been set in stone, Juhlin said he plans to serve Taittinger Comtes de Champagne 2005, which sells for about $350 a bottle, as an aperitif, followed by a similarly priced 1988 Dom Ruinart to accompany the caviar.
 
He selected Perrier-Jouet 1996 Belle Epoque, at $150 a bottle, to serve with the turbot, a more expensive 1995 Bollinger ($225) for the partridge course and to accompany the cheese, a 1962 Krug Collection, which retails for about $2,000.
 
Not all wine experts will be serving such expensive vintages. Wine consultant and columnist Lisa Carley said her choice of champagne for the holidays is the Charles de Monrency Brut NV Reserve, priced about $30 a bottle.
 
“It's a lovely champagne that's elegant with aromas and flavors of honey, botanicals, citrus fruit and a bit of brioche,” Carley explained.
 
For a special New Year's Eve wine she suggested Krug NV Rose, which sells for about $300.
 
For wine lovers on a smaller budget experts suggest sparkling wine to bring in 2014. Mike DeSimone and Jeff Jenssen, co-authors of “Wines of the Southern Hemisphere,” suggest a Spanish sparkling wine.
 
“We always celebrate with cava and our favorite producer right now is Pere Ventura, who only uses the traditional method to make his cava,” they said about the sparkling wine that sells for about $17 a bottle.
 
John Kapon, president of wine retailer and auctioneer Acker Merrall & Condit, recommends serving Fernanda Cappello Prosecco, Extra Dry ($18), at big holiday parties.

You May Like

Obama: I Will Do 'Everything I Can' to Close Guantanamo

US president says prison continues 'to inspire jihadists and extremists around the world' More

Sierra Leone Educates on Safe Ebola Burials

Also, country is improving at rapid response to isolated outbreaks, but health workers need to be even faster, officials say More

Christmas Gains Popularity in Vietnam

Increasingly wealthy Vietnamese embrace holiday due to its non-religious glamor, commercial appeal More

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
US Decision on Cuba Underscores Divisions Among Miami Cubansi
X
Sharon Behn
December 19, 2014 9:34 PM
For decades, older, more conservative Cubans have been gathering at Café Versailles on the corner of Calle Ocho to eat Cuban food and talk politics. After hearing of President Barack Obama’s decision, a number of them gathered in front of the café with posters to protest. VOA's Sharon Behn reports on the situation.
Video

Video US Decision on Cuba Underscores Divisions Among Miami Cubans

For decades, older, more conservative Cubans have been gathering at Café Versailles on the corner of Calle Ocho to eat Cuban food and talk politics. After hearing of President Barack Obama’s decision, a number of them gathered in front of the café with posters to protest. VOA's Sharon Behn reports on the situation.
Video

Video Three Cities Bid for Future Obama Presidential Library

President Barack Obama still has two years left in his term in office, but the effort to establish his post-presidential library is already underway. The bid for the Obama Presidential Library is down to four locations in three states -- New York, Hawaii, and Illinois. As VOA’s Kane Farabaugh reports, each of them played an important part in the president’s life before he reached the White House.
Video

Video Cuba Deal is Major Victory for Pope’s Diplomatic Initiatives

Pope Francis played a key role in brokering the US-Cuba deal that was made public earlier this week. It is the most stunning success so far in a series of peacemaking efforts by the pontiff. VOA religion reporter Jerome Socolovsky has more.
Video

Video Fears of More Political Gridlock in 2015

2014 proved to be a difficult year politically for President Barack Obama and a very good year for the U.S. Republican Party. Republican gains in the November midterm elections gave them control of the Senate and House of Representatives for the next two years -- setting the stage for more confrontation and gridlock in the final two years of the Obama presidency. VOA National Correspondent Jim Malone has a preview from Washington.
Video

Video Sudan School Becomes Target of Aerial Attacks

The school dropout rate is at an all-time high in Sudan's South Kordofan state because many schools have been destroyed during the three-year civil war between the government and SPLA-N rebel forces. Adam Bailes visited Sudan's Nuba Mountains' region and reports many children are simply too scared to go to school
Video

Video VOA Reporter Tours Devastated Peshawar School

Islamist militants wearing military uniforms and strapped with explosives attacked a military run school Tuesday in the northwestern Pakistani city of Peshawar. At least 141 people were killed in the horrific attack, most of them young students. VOA reporter Ayaz Gul visited the devastated school and attended the funeral of the principal who courageously tried to save her students from the deadly attack.
Video

Video Nigerians Fleeing Boko Haram Languish in Camp Near Capital

In its five-year effort to impose Islamic law in northeastern Nigeria, the Boko Haram extremist group has killed thousands of people and forced hundreds of thousands to flee. Some of those who ran for their lives now live in squalor on the edges of the capital, Abuja. Chris Stein reports for VOA.
Video

Video Aceh Rebuilt Decade After Tsunami, But Scars Remain

On December 26, 2004 there was an earthquake in the Indian Ocean so powerful it caused the Earth’s axis to wobble a few centimeters. Onshore on the island of Sumatra, the resulting tsunami was devastating. A decade later, VOA Correspondent Steve Herman reports from Banda Aceh, Indonesia, where although there is little remaining evidence of the physical devastation, the psychological scars among survivors remain.

All About America

AppleAndroid

World Currencies

EUR
USD
0.8143
JPY
USD
119.23
GBP
USD
0.6390
CAD
USD
1.1596
INR
USD
63.304

Rates may not be current.