Even as Antwerp’s diamond trade suffers one of the most severe downturns in its modern history, the City of Antwerp continues to promote diamonds as a cornerstone of its identity and a key tourist attraction. Through Visit Antwerpen, the city presents itself as the world’s Diamond City, inviting visitors to discover a thriving, prestigious sector – a message that increasingly contrasts with the economic reality of a shrinking industry.

Figures from the Antwerp World Diamond Centre (AWDC) published in January 2026 underline the scale of the crisis. Total diamond trade in Antwerp fell by 22.8% in 2025 compared with the previous year. 

Looking over a longer period, the decline is even starker. Imports and exports of rough diamonds dropped from around 9 billion dollars in the first 11 months of 2022 to just 3 billion dollars in the same period of 2025. Trade in polished diamonds fell from 10 to 6 billion dollars. The downturn has translated into business failures, with several Antwerp diamond wholesalers going bankrupt in recent months.

The loss of volume has also cost Antwerp in Belgium its long-held position as the world’s leading diamond trading centre. Competitors such as Dubai in the United Arab Emirates and Mumbai in India have overtaken it, driven in part by their strong involvement in synthetic diamonds. Professor Koen Vandenbempt, a diamond specialist at the University of Antwerp, has described the situation as structural rather than cyclical. The global market for natural diamonds is under pressure from much cheaper laboratory-grown alternatives, while younger generations are less attached to traditional mined stones. On top of that, Antwerp is constrained by the European ban on trading Russian diamonds, a restriction that does not apply to rival hubs.

“I fear the market for natural diamonds will only continue to shrink”, Vandenbempt has warned, predicting further consolidation in the sector and the closure of offices in some trading centres. In that context, Antwerp’s prospects as a dominant global hub look increasingly uncertain.

Diamond City

Against this backdrop, Visit Antwerpen’s diamond-focused tourism strategy appears almost defiant. The city continues to market diamonds as an essential part of Antwerp’s DNA, weaving together history, culture, craftsmanship and luxury. 

A flagship example is the free diamond and jewellery audio tour developed with museum DIVA. Starting at Het Steen, the tour leads visitors through the historic centre around Suikerrui, where goldsmiths and jewellers have lived and worked for more than 500 years. The walk presents Antwerp as a city shaped by diamonds from the 16th century to the present day, before continuing to the Diamond District near Antwerp-Central Railway Station.

DIVA itself plays a central role in this narrative. Promoted as a must-see attraction, the museum of diamonds, jewellery and silver showcases Antwerp’s rise as a global diamond capital and explains how rough stones are transformed into refined objects. Through exhibitions of jewellery, silverware and historical tools, visitors are invited to experience the splendour and expertise traditionally associated with the sector.

Guided walks add another layer to the city’s diamond story. Tours of the Diamond District promise insights into a ‘mysterious’ neighbourhood where traders of many nationalities negotiate daily, while the ‘Golden Streets‘ walk links contemporary jewellery design with Antwerp’s fashion scene. Together, these experiences suggest a vibrant ecosystem that is very much alive.

Antwerp’s Most Brilliant

Visit Antwerpen also actively encourages visitors to shop for diamonds and jewellery in the city. Tourists are steered towards jewellers carrying the ‘Antwerp’s Most Brilliant‘ quality label, backed by the City of Antwerp and the AWDC, which guarantees standards in sustainability, safety and transparency. 

The promotion is complemented by practical services such as Checkpoint Diamond, where visitors can have diamonds or diamond jewellery checked free of charge in 15 minutes. The facility is open from Monday to Saturday, from 10 AM to 6 PM, and on Sunday from 11 AM to 5 PM.

Diamond facts

To reinforce Antwerp’s claim to global relevance, Visit Antwerpen highlights a series of eye-catching ‘diamond facts’. These include the first documented diamond trade in Antwerp in 1447, the invention of the round brilliant cut by Antwerp-born Marcel Tolkowsky, and the assertion that 86% of rough diamonds and 50% of polished diamonds are traded in Antwerp. Visitors are also told that almost every diamond in the world has passed through the city at least once.

Trade numbers

Such claims sit uneasily alongside the latest trade figures and the sector’s own admission that Antwerp is no longer number one. They reflect a narrative rooted in history and prestige, rather than current market power. For the city’s tourism branding, however, that distinction appears deliberate. The emphasis is on heritage, expertise and trust, rather than on present-day volumes.

Industry representatives argue that this approach is not entirely disconnected from reality. AWDC spokesperson Ine Tassignon has acknowledged the sharp fall in trade, but points out that the decline slowed in the second half of 2025, with December trade even 5% higher than a year earlier. She also cites zero tariffs on diamond exports from Antwerp to the United States and signs that reduced production may stabilise demand for natural diamonds.

Whether these developments will be enough to restore Antwerp’s former status remains unclear. What is clear is that, as the diamond trade continues to contract, the City of Antwerp is determined to hold on to the image of a Diamond City forged over centuries. 

For visitors, the story remains one of brilliance and global importance. For the industry itself, the future looks far more uncertain – raising the question of how long the tourism narrative can remain detached from the economic reality behind it.