Kuwait's pearling industry also collapsed as a result of the worldwide economic depression.[74] At its height, Kuwait's pearling industry led the world's luxury market, regularly sending out between 750 and 800 ship vessels to meet the European elite's need for luxuries pearls.[74] During the economic depression, luxuries like pearls were in little demand.[74] The Japanese invention of cultured pearls also contributed to the collapse of Kuwait's pearling industry.[74]