Antwerp and diamonds: the story of a dazzling transformation
Antwerp, globally recognized as the diamond city, is the beating heart of the international diamond industry. But how did this Belgian city become the diamond-cutting and trading epicenter? In this blog post, we’ll take you through Antwerp’s glittering diamond history.
The history of the Antwerp diamond district
The diamond history of Antwerp dates back to the 15th century when the diamond trade moved from Bruges to Antwerp. In the 16th century, the diamond trade flourished despite challenges such as the fall of Antwerp in 1585. Even when many cutters and traders moved north, Antwerp remained an important diamond city. French kings like Louis XVI had their crown jewels cut here, which helped the sector grow.
The discovery of diamonds in South Africa in 1869 gave the Antwerp diamond industry a new boost. The market was flooded with diamonds, leading to a significant boom. By the end of the 19th century, a domestic diamond industry also emerged in the Kempen region.
Antwerp: the world center for diamonds
After World War II, Antwerp regained its position as the world’s leader in the diamond trade. With four diamond exchanges, various professional associations, and trade unions, Antwerp today is the most important trading center for rough diamonds. More than a quarter of the world’s diamond production comes directly to Antwerp to be traded. This success is due to the extensive knowledge and experience the city has built up over the past 570 years.
Innovation also plays a vital role in the Antwerp diamond sector. For example, Antwerp was the first trading center to introduce the tender system, in which diamonds are auctioned and the highest bidder can buy them.
The impact of the diamond sector on Antwerp
The diamond sector provides direct employment for about 6,600 people and indirect employment for another 20,000 people in hospitality, transport, and insurance industries. Although many cutting jobs have moved to India due to lower labor costs, Antwerp remains a world leader in the trade of rough and polished diamonds. Diamonds account for 5% of Belgium’s exports of goods and services and 15% of Belgian exports outside the EU, making it the most important Belgian export product outside the EU.
The diamond district in Antwerp: worth a visit
The Diamond Quarter, located near Antwerp Central Station, forms the heart of Antwerp’s diamond industry. To outsiders, the diamond business can seem like a mysterious world with its own rules and traditions. However, the discreet environment of the offices of major companies and the bustle of the Diamond Exchanges, where traders assess and trade the displayed stones, are fascinating to see.
Discover more of Antwerp with Walking in Antwerp
At Walking in Antwerp, we offer guided tours. Our most popular tour “Highlights of Antwerp” ends at the station, where you can experience the splendor of the diamond district after your tour. See you soon in Antwerp!
