The luxury goods sector remains resilient despite the economic challenges, thanks to the support from the Middle East and Africa region along with Asia Pacific and Latin America which will account for 25 per cent of the market by 2025.
The luxury goods market in the Middle East region continues to surge at a rapid pace with a 5 to 8 per cent year-on-year growth mainly driven by tourism boom despite regional worries, said a report.
The region maintains a positive
Luxury goods market in the Middle East is growing at a steady pace, with Dubai accounting for about 30 per cent of the market, said a study.
The ‘Luxury Goods Worldwide Market study’ conducted by Bain and Company, an a
Dubai Duty Free (DDF) has recorded Dh1.6 billion ($438 million) sales for the first quarter, up 12 per cent over the same period last year thus signaling an excellent prospect for the retailer’s 30th year of business.
The Middle East luxury goods market has achieved a growth of 10 to 15 per cent this year as compared to 2011, establishing the region as the 10th largest luxury goods market in the world; according to a recent study by Bain & Company.
Middle East luxury market will grow by 15 per cent in 2013, against the six to seven per cent growth predicated for the global market, according to a new report from Bain, a major management consulting firm.
The inaugural World Lu
Middle East Exclusive (MEE) 2012, the region’s largest retail, duty free and luxury goods exhibition, is set to open today at the Dubai World Trade Centre.
MEE 2012, which will conclude on November 27, is organised by the Mi
Dubai will be organising the newly revamped Middle East Exclusive (MEE) 2012 – The World Travel Retail, Duty Free & Luxury Goods Exhibition, during the ‘Duty Free Week’ from November 25 to 27 at the Dubai World Trade Centre
Qataris are the biggest buyers of luxury goods in the Middle East region, closely followed by consumers in Bahrain, according to the American Express Middle East Luxury Spending Tracker.
Luxury goods buyers in Qatar spend up to $5,000 a
Iran has temporarily banned the import of some "luxury goods" including foreign-made cars and mobile phones, a state-run newspaper said, to save billions of dollars for essential products in the face of worsening sanc