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

The Saudi Arabia luxury market reached a value of US$ 14.5 Billion in 2018. Looking forward, the market value is further expected to reach US$ 22.2 Billion by 2024, exhibiting a CAGR of 7.2% during 2019-2024. With its huge oil wealth, Saudi Arabia represents a nation having one of the highest concentrations of super rich households across the globe. Driven by rising income levels, the country’s luxury market has been exhibiting a continuous growth. Saudi Arabia has also witnessed strong population growth with the country’s population increasing by nearly 30% over the last decade. Moreover, more than half of the total population in the country is below 25 years of age. With this generation of the population being brought up during has the country’s economic rise, they consider luxury not given but as a gift. It is the country’s young population that represents the biggest catalyst of the luxury market. Moreover, infrastructure development, strong growth of the e-commerce industry, increasing internet penetration, and growing travel and tourism sector in Saudi Arabia are further expected to bolster the luxury market in the country. 

Market Summary:

Based on the category, the market has been segmented into travel and hotels,   cars, personal luxury goods, food and drinks, and others. Currently, travel and hotels dominate this market followed by cars, personal luxury goods, and, food and drinks.

On the basis of gender, the market has been segmented into males and females. Males currently account for the largest share in this market.

Based on the distribution channel, the Saudi Arabia luxury market has been segmented into mono-brand stores, multi-brand stores, online stores and others.

This report provides a deep insight into the Saudi Arabia 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 Saudi Arabia luxury industry in any manner.

Key Questions Answered in This Report:

1.  
2. How has the Saudi Arabia luxury market performed so far and how will it perform in the coming years?
3. What is the share of various categories in the Saudi Arabia luxury market?
4. What is the breakup of males and females in the Saudi Arabia luxury market?
5. What is the breakup of the Saudi Arabia luxury market on the basis of distribution channels?
6. What is the value chain of the Saudi Arabia luxury industry?
7. What are the key driving factors and challenges in the Saudi Arabia luxury industry?
8. What is the competitive structure of the Saudi Arabia luxury industry and who are the key players?
9. What is the degree of competition in the Saudi Arabia luxury industry?