Tropico 4

You can make your own luxury goods using a gold mine and an upgraded jewelry factory or just open up the shopping mall and allow imports. It's probably more cost effective to just build a shopping mall and allow imports.

The best and probably quickest way to get this achievement is to try for it on a map that focuses on tourism. I got it by only building one mall and setting the profit to $1.

It took about 15 years but it eventually popped. Building a second mall would of gotten me this quicker. Also, I completely relied on imports for my goods. So if you are going that route, make sure you keep a positive treasury at all times and up the maximum imports at the dock from 5k to over 20k, otherwise you'll never have enough cash to buy the luxury goods when a ship comes in!

Please either comment below or send me a Personal Message if you have any comments or improvements.

The other guide is a bit vague, so here it is.

The long and short of it, is you want a booming economy. Tourism is a bonus, but not a must.

The aim is to build three shopping malls (one minimum). All set to outlet store.
Two docks both set at unlimited imports.

Now, tour docks will import as many luxuries as you can and distribute them via your malls. Obviously, the more malls the faster it will be.

As you can see, this costs a lot but its the fastest way. I found it easier, near the end of a mission to start it. I got it in about six years game time.