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

At Khmer Rouge Court, Long-Awaited Verdict Approaches

First phase of trial, which is coming to an end, has focused on forced exodus of Phnom Penh in 1975 - and now many are hopeful justice will be served More

Video When Fighting Eases, Gazans Line Up at Bakeries

When there is a lull in the conflict, residents who have been hunkered down in their apartments rush out to stock up on food and other necessities More

Video Information War Rages Alongside Real One in Ukraine

Downing of Malaysian airliner, allegations of cross-border shelling move information war in war-torn country to a new level More

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
Information War Rages Alongside Real One in Ukrainei
X
Al Pessin
July 31, 2014 8:13 PM
The downing of the Malaysian airliner two weeks ago, and allegations that Russians are shelling Ukrainian troops across the border, have moved the information war swirling around the Ukrainian conflict to a new level. VOA's Al Pessin reports from Kyiv.
Video

Video Information War Rages Alongside Real One in Ukraine

The downing of the Malaysian airliner two weeks ago, and allegations that Russians are shelling Ukrainian troops across the border, have moved the information war swirling around the Ukrainian conflict to a new level. VOA's Al Pessin reports from Kyiv.
Video

Video When Fighting Eases, Gazans Line Up at Bakeries

When there is a lull in the conflict in Gaza, residents who have been hunkered down in their apartments rush out to stock up on food and other necessities. Probably the most important destination is the local bakery. VOA’s Scott Bobb reports from Gaza City.
Video

Video US-Funded Program Offers Honduran Children Alternative to Illegal Immigration

President Obama and Central American leaders recently agreed to come up with a plan to address poverty and crime in the region that is fueling the surge of young migrants trying to illegally enter the United States. VOA’s Brian Padden looks at one such program in Honduras - funded in part by the United States - which gives street kids not only food and safety but a chance for a better life without, crossing the border.
Video

Video 'Fab Lab' Igniting Revolution in Kenya

The University of Nairobi’s Science and Technology Park is banking on 3-D prototyping to spark a manufacturing revolution in the country. Lenny Ruvaga has more for from Nairobi's so-called “FabLab” for VOA.
Video

Video Gazans in Shelled School Sought Shelter

Israel's air and ground assault against Hamas-led fighters in Gaza has forced many Palestinians to flee their homes, seeking safety. But safe places are hard to find, as VOA’s Scott Bobb reports from Jabaliya.
Video

Video Rapid Spread of Ebola in West Africa Prompts Global Alert

Across West Africa, health officials are struggling to keep up with what the World Health Organization describes as the worst ebola outbreak on record. The virus has killed hundreds of people this year. U.S. President Barack Obama and other world leaders are watching the developments closely as they weigh what actions, if any, are needed to help contain the disease.
Video

Video Michelle Obama: Young Africans Need to Embrace Women's Rights

U.S. first lady Michelle Obama urged some of Africa's best and brightest to advocate for women's rights in their home countries. As VOA's Pam Dockins explains, Obama spoke to some 500 participants of the Young African Leaders Initiative, a six-week U.S.-based training and development program.
Video

Video Immigrant Influx on Texas Border Heats Up Political Debate

Immigrants from Central America continue to cross the U.S.-Mexico border in south Texas, seeking asylum in the United States, as officials grapple with ways to deal with the problem and provide shelter for thousands of minors among the illegal border crossers. As VOA's Greg Flakus reports from Houston, the issue is complicated by internal U.S. politics and U.S. relations with the troubled nations that immigrants are fleeing.
Video

Video Study: Latino Students Most Segregated in California

Even though legal school segregation ended in the United States 60 years ago, one study finds segregation still occurs in the U.S. based on income and race. The University of California Los Angeles Civil Rights Project finds that students in California are more segregated by race than ever before, especially Latinos. Elizabeth Lee reports for VOA from Los Angeles.

AppleAndroid

World Currencies

EUR
USD
0.7305
JPY
USD
101.53
GBP
USD
0.5830
CAD
USD
1.0656
INR
USD
60.075

Rates may not be current.