RIYADH: According to analysts who spoke to Arab News, Saudi Arabia is becoming a top priority for the global luxury market as companies increase their footprint to meet the country’s burgeoning demand. The growth coincides with the Kingdom’s development of its retail, hospitality, and entertainment sectors under Vision 2030, increasing opportunities for luxury consumption and bringing foreign brands closer to Saudi consumers who have previously made numerous high-end purchases overseas.
Tourism developments are expanding the industry even more. InterContinental Hotels & Resorts told Arab News in June that it anticipates growing its Luxury & Lifestyle portfolio in Saudi Arabia to six brands by 2028, while Four Seasons debuted at Amaala’s Triple Bay on the northwest coast.
The way Lebanese luxury apparel brand Georges Hobeika handles Saudi customers reflects the change. Ten years ago, we used private trunk shows overseas or Gulf retailers to service the Saudi Arabian market remotely. Georges Hobeika’s communications manager, Fadi Roumieh, told Arab News that this has fully changed.
He cited a new generation of Saudi stylists and content producers, an expanding domestic events calendar, and local retail infrastructure as elements altering the sector. According to Roumieh, Vision 2030-related reforms have reduced what could have been a decade of demand increase into a few years.
Also Read:
Dr. Sofica Bistriceanu: Bridging Medicine, Research, And Human Connection
Volkan Çalışıyor — Redefining Design Through Strategy, Technology & Multidisciplinary Thinking
