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GCC Luxury Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024

The GCC luxury market is currently being catalysed by rising economic growth, a large young population, strong growth of the tourism sector, and an increasing penetration of ecommerce and social media. In 2018, the GCC luxury market was worth more than US$ 35 Billion.

GCC Luxury Market Report

In a region made affluent from strong oil production and exports, GCC economies have experienced strong economic growth over the past decades.  Catalysed by rising affluence levels, spending on luxury products has been witnessing a continuous growth. The region has also witnessed strong population growth over the last five years resulting in a large young population. Currently around half of the total population in the region is below 30 years of age. With this generation of the population being bought up during the region’s economic ascendency, they perceive luxury not given but as a gift. It is the young population that represents the biggest driver of the luxury market in the region.

Another major driver of the luxury market in the region is the increasing penetration of ecommerce and social media. The online market continues to drive the sales of luxury products as boundaries blur with the more traditional distribution channels. Social media platforms such as youtube, facebook, instagram, whatsapp, etc. are also influencing consumers, particularly the younger generation. Moreover, the tourism sector of the GCC region has also been expanding in nations like the UAE which has further broadened the growth prospects for luxury goods. Looking forward, the market is expected to reach sales worth more than US$ 54 Billion by 2024, exhibiting a CAGR of 7.4% during 2019-2024.

Market Summary:

  • On the basis of region, the market has been segmented into six regions, Saudi Arabia, UAE, Kuwait, Qatar, Oman and Bahrain. Saudi Arabia and UAE are the prominent regions.
  • Based on the type, the market has been segmented into travel and hotels, cars, personal luxury goods, food and drinks. Currently, the travel and hotels category dominates this market followed by cars, personal luxury goods, and food and drinks.
  • On the basis of gender, males dominated the market.
  • Based on the distribution channel, the GCC luxury market has been segmented into mono-brand stores, multi-brand Store, online stores and others.


This report provides a deep insight into the GCC luxury market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the GCC luxury industry in any manner.

Key Questions Answered in This Report:

  • How has the GCC luxury market performed so far and how will it perform in the coming years?
  • What is the breakup of the GCC luxury market on a regional basis?
  • What are the leading product segments in the GCC luxury market?
  • What is the breakup of the GCC luxury market on the basis of gender?
  • What is the breakup of the GCC luxury market on the basis of distribution channel?
  • What is the value chain of the GCC luxury industry?
  • What are the key driving factors and challenges in the GCC luxury market?
  • What is the competitive structure of the GCC luxury industry and who are the key players?
  • What is the degree of competition in the GCC luxury industry?

1    Preface
2    Scope and Methodology

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3    Executive Summary
4    Introduction

    4.1    Overview
    4.2    Key Industry Trends
5    GCC Luxury Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Market Breakup by Region
    5.4    Market Breakup by Type
    5.5    Market Breakup by Gender
    5.6    Market Breakup by Distribution Channel
    5.7    Market Forecast
    5.8    SWOT Analysis
        5.8.1    Overview
        5.8.2    Strengths
        5.8.3    Weaknesses
        5.8.4    Opportunities
        5.8.5    Threats
    5.9    Value Chain Analysis
        5.9.1    Overview
        5.9.2    Research and Development
        5.9.3    Manufacturing
        5.9.4    Marketing 
        5.9.5    Distributors
        5.9.6    Retailers
        5.9.7    End-Users
    5.10    Porters Five Forces Analysis
        5.10.1    Overview
        5.10.2    Bargaining Power of Buyers
        5.10.3    Bargaining Power of Suppliers
        5.10.4    Degree of Competition
        5.10.5    Threat of New Entrants
        5.10.6    Threat of Substitutes
6    Market Performance by Region
    6.1    Saudi Arabia
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    United Arab Emirates
        6.2.1 Market Trends
        6.2.2 Market Forecast
    6.3    Qatar
        6.3.1 Market Trends
        6.3.2 Market Forecast
    6.4    Kuwait
        6.4.1 Market Trends
        6.4.2 Market Forecast
    6.5    Oman
        6.5.1 Market Trends
        6.5.2 Market Forecast
    6.6    Bahrain
        6.6.1 Market Trends
        6.6.2 Market Forecast
7    Market Performance by Type
    7.1    Travel and Hotel
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Cars
        7.2.1 Market Trends
        7.2.2 Market Forecast
    7.3    Personal Luxury Goods
        7.3.1 Market Trends
        7.3.2 Market Forecast
    7.4    Food and Drinks
        7.4.1 Market Trends
        7.4.2 Market Forecast
    7.5    Others
        7.5.1 Market Trends
        7.5.2 Market Forecast
8    Market Performance by Gender
    8.1    Male
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    Female
        8.2.1 Market Trends
        8.2.2 Market Forecast
9    Market Performance by Distribution Channel
    9.1    Monobrand Stores
        9.1.1 Market Trends
        9.1.2 Market Forecast
    9.2    Multibrand Stores
        9.2.1 Market Trends
        9.2.2 Market Forecast
    9.3    Online Stores
        9.3.1 Market Trends
        9.3.2 Market Forecast
    9.4    Others
        9.4.1 Market Trends
        9.4.2 Market Forecast
10    Competitive Landscape
    10.1    Market Structure
    10.2    Key Players

List of Figures

Figure 1: GCC: Luxury Market: Major Drivers and Challenges
Figure 2: GCC: Luxury Market: Sales Value (in Billion US$), 2011-2018
Figure 3: GCC: Luxury Market: Breakup by Region (in %), 2018
Figure 4: GCC: Luxury Market: Breakup by Type (in %), 2018
Figure 5: GCC: Luxury Market: Breakup by Gender (in %), 2018
Figure 6: GCC: Luxury Market: Breakup by Distribution Channel (in %), 2018
Figure 7: GCC: Luxury Market Forecast: Value Trends (in Billion US$), 2019-2024
Figure 8: GCC: Luxury Industry: SWOT Analysis
Figure 9: GCC: Luxury Industry: Value Chain Analysis
Figure 10: GCC: Luxury Industry: Porter’s Five Forces Analysis
Figure 11: Saudi Arabia: Luxury Market: Sales Value (in Million US$), 2011 & 2018
Figure 12: Saudi Arabia: Luxury Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 13: United Arab Emirates: Luxury Market: Sales Value (in Million US$), 2011 & 2018
Figure 14: United Arab Emirates: Luxury Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 15: Qatar: Luxury Market: Sales Value (in Million US$), 2011 & 2018
Figure 16: Qatar: Luxury Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 17: Kuwait: Luxury Market: Sales Value (in Million US$), 2011 & 2018
Figure 18: Kuwait: Luxury Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 19: Oman: Luxury Market: Sales Value (in Million US$), 2011 & 2018
Figure 20: Oman: Luxury Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 21: Bahrain: Luxury Market: Sales Value (in Million US$), 2011 & 2018
Figure 22: Bahrain: Luxury Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 23: GCC: Luxury Market (Travel and Hotel): Sales Value (in Million US$), 2011 & 2018
Figure 24: GCC: Luxury Market Forecast (Travel and Hotel): Sales Value (in Million US$), 2019-2024
Figure 25: GCC: Luxury Market (Cars): Sales Value (in Million US$), 2011 & 2018
Figure 26: GCC: Luxury Market Forecast (Cars): Sales Value (in Million US$), 2019-2024
Figure 27: GCC: Luxury Market (Personal Luxury Goods): Sales Value (in Million US$), 2011 & 2018
Figure 28: GCC: Luxury Market Forecast (Personal Luxury Goods): Sales Value (in Million US$), 2019-2024
Figure 29: GCC: Luxury Market (Food and Drinks): Sales Value (in Million US$), 2011 & 2018
Figure 30: GCC: Luxury Market Forecast (Food and Drinks): Sales Value (in Million US$), 2019-2024
Figure 31: GCC: Luxury Market (Other Categories): Sales Value (in Million US$), 2011 & 2018
Figure 32: GCC: Luxury Market Forecast (Other Categories): Sales Value (in Million US$), 2019-2024
Figure 33: GCC: Luxury Market (Males): Sales Value (in Million US$), 2011 & 2018
Figure 34: GCC: Luxury Market Forecast (Males): Sales Value (in Million US$), 2019-2024
Figure 35: GCC: Luxury Market (Females): Sales Value (in Million US$), 2011 & 2018
Figure 36: GCC: Luxury Market Forecast (Females): Sales Value (in Million US$), 2019-2024
Figure 37: GCC: Luxury Market: Sales through Monobrand Stores (in Million US$), 2011 & 2018
Figure 38: GCC: Luxury Market Forecast: Sales through Monobrand Stores (in Million US$), 2019-2024
Figure 39: GCC: Luxury Market: Sales through Multibrand Stores (in Million US$), 2011 & 2018
Figure 40: GCC: Luxury Market Forecast: Sales through Multibrand Stores (in Million US$), 2019-2024
Figure 41: GCC: Luxury Market: Sales through Online Stores (in Million US$), 2011 & 2018
Figure 42: GCC: Luxury Market Forecast: Sales through Online Stores (in Million US$), 2019-2024
Figure 43: GCC: Luxury Market: Sales through Other Distribution Channels (in Million US$), 2011 & 2018
Figure 44: GCC: Luxury Market Forecast: Sales through Other Distribution Channels (in Million US$), 2019-2024

List of Tables

Table 1: GCC: Luxury Market: Key Industry Highlights, 2018 and 2024
Table 3: GCC: Luxury Market Forecast: Breakup by Region (in Million US$), 2019-2024
Table 3: GCC: Luxury Market Forecast: Breakup by Type (in Million US$), 2019-2024
Table 4: GCC: Luxury Market Forecast: Breakup by Gender (in Million US$), 2019-2024
Table 5: GCC: Luxury Market Forecast: Breakup by Distribution Channel (in Million US$), 2019-2024
Table 6: GCC: Luxury Market: Competitive Structure
Table 7: GCC: Luxury Market: Key Players

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