Compared to the performance by global counterparts, luxury goods in the United Arab Emirates outperformed in the first half of 2024 by recording solid single-digit growth. This growth was driven by population growth, and strong tourism numbers.
The growth trend in luxury goods is being driven by cross-industry collaborations that elevate the lifestyle appeal of premium brands. Luxury names are extending beyond their core products, and merging with other industries to offer unique experiences.
The competitive landscape of luxury goods in the United Arab Emirates is highly fragmented, with only one player holding double-digit value share in terms of global brand ownership: Bayerische Motoren Werke AG, the owner of BMW. Following closely are the three largest players in premium and luxury cars: Tata Motors Ltd (owner of Land Rover), Daimler AG (owner of Mercedes-Benz), and Toyota Motor Group (owner of Lexus).
Understandably, the high value of premium and luxury cars means that prestigious car dealers dominate the distribution of premium and luxury cars, while the majority of fine wines are sold in offline specialist channels. Similarly, when it comes to personal luxury, the majority of consumers prefer to shop in a bricks-and-mortar store, even if they initially go online and conduct research before entering the store.
Luxury goods in the United Arab Emirates is expected to maintain its growth momentum over the forecast period, driven by strong macroeconomic fundamentals and a flourishing tourism industry. The biggest question luxury goods now faces is how sustainability will shape its future in a market known for excess and opulence.
Delivery:
Files are delivered directly into your account soon after payment is received and any tax is certification is verified (where applicable).
This report comes in PDF with additional info in Excel included.
Understand the latest market trends and future growth opportunities for the Luxury Goods industry in United Arab Emirates with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to the following key categories, where applicable:
If you're in the Luxury Goods industry in United Arab Emirates, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Luxury Goods
This is an aggregation of: Personal Luxury, Fine Wines/Champagne and Spirits, Luxury Cars and Experiential Luxury.
See All of Our DefinitionsThis report originates from Passport, our Luxury Goods research and analysis database.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extraction Free!