The Middle East luxury goods market is expected to reach nearly €15 billion by 2023 and double that amount by 2030 to reach €30-35 billion, driven by the UAE and Saudi Arabia. This is according to a new research report released on 5 July by Boston Consulting Group BCG and Altagamma, the Italian trade association for luxury goods manufacturers.
As a result, Altagamma has raised its 2023 growth forecast for the Middle East luxury market to 10%, significantly higher than the previous forecast of 7%.
In January 2023, Luxe.CO Intelligence, a subsidiary of Luxe.CO, released a report titled …
