Oct 19, 2017
Who are the new Middle Eastern luxury consumers?

The Middle East is home to one of the world's youngest and richest populations. In 2016 Arab consumers spent $320 billion on luxury fashion. For brands to capitalise, an understanding of cultural values is essential. Who is this luxury-loving cohort and what makes a brand a 'must have'?

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Home to some of the world’s largest deposits of oil and natural gas, the Middle East’s tiniest countries also boast some of the biggest GDPs per capita. In Qatar, this stands at $129,700, the highest in the world. Nearby Kuwait, another nation rich in oil and gas reserves, boasts a GDP per capita of $71,300 , while the United Arab Emirates’ clocks in at $67,700. [1][2] To put that into context, the United States’ GDP per capita was recorded as $53, 272 in 2016. [3] Compared to the Gulf states, American spending power suddenly looks like small fry.