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Yahoo
6 days ago
- Business
- Yahoo
Saudi Arabia Luxury Watch Market Trends, Competition, Forecast & Opportunities, 2030F
The Saudi Arabia luxury watch market is poised for growth driven by increasing disposable incomes, rising affluent consumers, and cultural emphasis on prestige. Opportunities lie in catering to high-net-worth individuals seeking exclusivity through limited editions and bespoke timepieces. Expansion in retail and digital presence enhances access. Saudi Arabian Luxury Watch Market Dublin, Aug. 13, 2025 (GLOBE NEWSWIRE) -- The "Saudi Arabia Luxury Watch Market, By Region, Competition, Forecast & Opportunities, 2020-2030F" has been added to offering. The Saudi Arabia Luxury Watch Market was valued at USD 270.11 Million in 2024 and is expected to reach USD 318.52 Million by 2030, rising at a CAGR of 2.85% The market is driven by increasing disposable income, a rising population of affluent consumers, and a cultural emphasis on prestige and status. Greater exposure to global luxury trends, coupled with Saudi Arabia's Vision 2030 initiatives, is accelerating demand. The growth is further supported by the expansion of premium retail infrastructure and the ongoing digital transformation, attracting both local buyers and leading international luxury brands. According to the World's Wealthiest Cities Report 2025 by New World Wealth, Riyadh experienced a 65% increase in millionaires between 2014 and 2024. The Saudi capital is now home to over 20,000 individuals with liquid investable assets of USD 1 million or more, including 77 centi-millionaires and 11 billionaires. Meanwhile, Jeddah witnessed a growth of over 50%, now hosting 10.40 billionaires. This rise in affluent residents aligns with Saudi Arabia's ambitious Vision 2030 economic reform program, launched in 2016 by Crown Prince Mohammed bin Salman, aimed at transforming the Kingdom's economy and attracting global wealth. Key Market Drivers Rising Disposable Income and Affluent Consumer Base One of the primary drivers fueling the growth of the Saudi Arabia luxury watch market is the steady increase in disposable income and wealth among the Kingdom's affluent population. Over the past decade, Saudi Arabia has experienced significant economic growth, largely due to its oil wealth and ongoing economic diversification efforts under Vision 2030. This prosperity has led to a growing class of high-net-worth individuals (HNWIs) and affluent middle-class consumers with substantial purchasing power. Luxury watches are seen not only as functional timepieces but also as symbols of status, prestige, and personal achievement. For many Saudis, owning an exclusive luxury watch reflects success and social standing, making it a highly desirable product category. With more disposable income at their disposal, consumers are willing to invest in premium, high-quality watches from renowned global brands, ranging from Rolex and Patek Philippe to Audemars Piguet and Richard Mille. According to the 2023 Household Income and Consumption Expenditure Statistics, the average monthly household disposable income in Saudi Arabia was approximately USD 3,197. In terms of per capita disposable income, the national average stood at roughly USD 863 per month. Saudi individuals had a higher average income of about USD 1,074, while non-Saudi individuals earned around USD 515 per month. Key Market Challenges Heavy Dependence on Imports and Supply Chain Vulnerabilities A significant challenge for the Saudi luxury watch market is its heavy reliance on imports, as nearly all high-end watches come from established international manufacturers based primarily in Switzerland, Germany, and other global hubs. This dependence exposes the market to various supply chain vulnerabilities, including delays caused by geopolitical tensions, customs regulations, and logistical disruptions. Saudi Arabia imports luxury watches through specific channels, and any disruption in global trade routes, such as increased tariffs, port congestions, or restrictions due to pandemics, can delay the delivery of new models and limited editions. Such delays can frustrate consumers, especially collectors and enthusiasts who prioritize exclusivity and timely access to the latest products. Additionally, fluctuating currency exchange rates can affect the final retail price of imported watches, sometimes making them less affordable or less competitive compared to neighboring markets. Retailers must manage these uncertainties carefully to maintain consistent stock and competitive pricing. Key Market Trends Growing Demand for Limited Editions and Bespoke Timepieces A prominent trend in the Saudi Arabia luxury watch market is the increasing demand for limited-edition and bespoke watches. High-net-worth individuals (HNWIs) in the Kingdom are seeking timepieces that reflect exclusivity, craftsmanship, and personal identity. Unlike mass-produced models, limited-edition watches often carry unique design elements, intricate complications, or historical relevance, making them highly desirable among collectors and status-conscious buyers. Many affluent Saudi consumers view watches as more than functional accessories; they are wearable works of art and symbols of social standing. This mindset fuels a strong appetite for watches that are rare or customized to individual tastes. Global brands like Patek Philippe, Audemars Piguet, and Richard Mille are responding by offering special editions tailored for Middle Eastern markets or even for Saudi-specific events. Customization options such as engraved initials, rare materials, or dial colors are also gaining popularity. These services often come at a premium but resonate with buyers looking for personalization and uniqueness. This trend is further enhanced by the expansion of luxury brand boutiques and showrooms in cities like Riyadh and Jeddah, offering in-person consultations and bespoke experiences. Key Attributes: Report Attribute Details No. of Pages 82 Forecast Period 2024 - 2030 Estimated Market Value (USD) in 2024 $270.11 Million Forecasted Market Value (USD) by 2030 $318.52 Million Compound Annual Growth Rate 2.8% Regions Covered Saudi Arabia Report Scope Key Market Players Rolex S.A. Patek Philippe S.A. Audemars Piguet Holding S.A. Richard Mille S.A. Hublot S.A. Omega S.A. Cartier International SNC TAG Heuer S.A. Jaeger-LeCoultre S.A. Jacob & Co. Inc. Saudi Arabia Luxury Watch Market, By Type: Analog Watch Digital Watch Saudi Arabia Luxury Watch Market, By End User: Men Women Unisex Saudi Arabia Luxury Watch Market, By Sales Channel: Online Offline Saudi Arabia Luxury Watch Market, By Region: Western Northern & Central Eastern Southern For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment Saudi Arabian Luxury Watch Market CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900Sign in to access your portfolio
Daily Mail
16-06-2025
- Lifestyle
- Daily Mail
The huge Parkinson's risk linked to where you LIVE - and why it might be even worse in upmarket areas: Experts reveal who is most at risk
For many homeowners, a property surrounded by greenery, open space and a sense of community is the ultimate lifestyle prize. The appeal is obvious: proximity to nature, low-traffic streets, and easy access to outdoor leisure pursuits create a sense of wellbeing and prestige that's hard to match.
Vogue Arabia
12-05-2025
- Entertainment
- Vogue Arabia
Jessica Kahawaty Launches Kahawaty Jewellery With Her Father, a Legacy Cut in the Making
The debut collection, Octagon, draws on geometry as metaphor: eight sides, a universal symbol of infinity, but also 'strong, grounded and solid,' she adds. It's a clean, graphic interpretation of timeless silhouettes: earrings, bracelets and pendants that favor structure over ornamentation. The five-piece edit features octagon-cut diamonds paired with sculptural chain links, modern pieces rooted in classic design. 'I envision it for the confident, contemporary woman who values both adaptability and longevity. You can stack the pieces for day-to-night, or strip it back and let one stand on its own,' she explains. 'It's not meant to be trendy, although it reads as very modern. We're not chasing fads or designing for seasonality. We're creating pieces that are timeless, made to last for generations,' she asserts. Her favourite? The mini octagon earrings, anchored by a one-carat diamond, floating halo and octagonal pavé setting. Minimalist, with maximal impact. 'I'm an earrings girl, what can I say,' she adds, beaming. The brand's stance on lab-grown diamonds is equally unapologetic. 'A lab-grown diamond didn't survive three billion years of tectonic pressure,' she says. 'So no, it doesn't hold the same weight, geologically or emotionally.' For the Kahawatys, jewellery goes beyond carats and clarity; it's about story, substance and legacy. A natural diamond is finite. 'There's an inheritance potential and lasting value,' she adds. 'For me, nature will always equate to prestige.' It's this kind of language–clear-eyed, precise, yet sentimental in its storytelling–that defines both Jessica and the brand. Even her earliest memory of jewellery is steeped in symbolism: her mother's velvet-lined jewellery case, carefully unfurled on the bed. 'It was a small ritual, but it felt like unlocking a world of wonder, beautiful pieces my father designed for her,' she recalls. It's a sentiment most women can relate to, the quiet awe of watching their mothers get ready, the glamorous apex of adulthood. The difference in Kahawaty's case is that she's able to continue that narrative as part of her own journey. The boutique, nestled discreetly in Jumeirah 1, reflects the brand's ethos of intimacy and authenticity. Eschewing the grandiosity of typical luxury maisons, the space is understated, deliberate in its simplicity. The experience here is personal and consultative: clients browse loose gemstones, sketch their own engagement rings and engage directly with the team. It's about more than just purchasing; it's about crafting a story, imbuing each piece with personal meaning, just as she witnessed growing up. 'Dubai is often seen as a city of display,' she says, 'but I think that's changing. People are becoming more attuned to quiet codes. To provenance. To things that hold their value, not just in price, but in meaning.' She smiles. 'We're in a way, an antidote to the noise.' In a city that so often confuses visibility with value, perhaps that's the most luxurious thing of all. Kahawaty Jewels is located at The Court Residence, Shop 6, Ground Floor, 10 b 39B street Jumeirah 1, Dubai. Boutique will be opening on May 12th, 2025.
