DUBLIN, July 24, 2019 /PRNewswire/ -- The "GCC Luxury Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024" report has been added to ResearchAndMarkets.com's offering.

The GCC luxury market is currently being catalysed by rising economic growth, a large young population, strong growth of the tourism sector, and an increasing penetration of ecommerce and social media. In 2018, the GCC luxury market was worth more than US$ 35 Billion.

In a region made affluent from strong oil production and exports, GCC economies have experienced strong economic growth over the past decades. Catalysed by rising affluence levels, spending on luxury products has been witnessing a continuous growth. The region has also witnessed strong population growth over the last five years resulting in a large young population. Currently around half of the total population in the region is below 30 years of age. With this generation of the population being bought up during the region's economic ascendency, they perceive luxury not given but as a gift. It is the young population that represents the biggest driver of the luxury market in the region.

Another major driver of the luxury market in the region is the increasing penetration of ecommerce and social media. The online market continues to drive the sales of luxury products as boundaries blur with the more traditional distribution channels. Social media platforms such as youtube, facebook, instagram, whatsapp, etc. are also influencing consumers, particularly the younger generation. Moreover, the tourism sector of the GCC region has also been expanding in nations like the UAE which has further broadened the growth prospects for luxury goods.

The market is expected to reach sales worth more than US$ 54 Billion by 2024, exhibiting a CAGR of 7.4% during 2019-2024.

Key Questions Answered in This Report:

• How has the GCC luxury market performed so far and how will it perform in the coming years?
• What is the breakup of the GCC luxury market on a regional basis?
• What are the leading product segments in the GCC luxury market?
• What is the breakup of the GCC luxury market on the basis of gender?
• What is the breakup of the GCC luxury market on the basis of distribution channel?
• What is the value chain of the GCC luxury industry?
• What are the key driving factors and challenges in the GCC luxury market?
• What is the competitive structure of the GCC luxury industry and who are the key players?
• What is the degree of competition in the GCC luxury industry?

Key Topics Covered:

1 Preface

2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.4 Market Estimation
2.5 Forecasting Methodology

3 Executive Summary

4 Introduction
4.1 Overview
4.2 Key Industry Trends

5 GCC Luxury Market
5.1 Market Overview
5.2 Market Performance
5.3 Market Breakup by Region
5.4 Market Breakup by Type
5.5 Market Breakup by Gender
5.6 Market Breakup by Distribution Channel
5.7 Market Forecast
5.8 SWOT Analysis
5.9 Value Chain Analysis
5.9.1 Overview
5.9.2 Research and Development
5.9.3 Manufacturing
5.9.4 Marketing
5.9.5 Distributors
5.9.6 Retailers
5.9.7 End-Users
5.10 Porters Five Forces Analysis

6 Market Performance by Region
6.1 Saudi Arabia
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 United Arab Emirates
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Qatar
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Kuwait
6.4.1 Market Trends
6.4.2 Market Forecast
6.5 Oman
6.5.1 Market Trends
6.5.2 Market Forecast
6.6 Bahrain
6.6.1 Market Trends
6.6.2 Market Forecast

7 Market Performance by Type
7.1 Travel and Hotel
7.2 Cars
7.3 Personal Luxury Goods
7.4 Food and Drinks
7.5 Others

8 Market Performance by Gender
8.1 Male
8.2 Female
8.2.2 Market Forecast

9 Market Performance by Distribution Channel
9.1 Monobrand Stores
9.2 Multibrand Stores
9.3 Online Stores
9.4 Others

10 Competitive Landscape
10.1 Market Structure
10.2 Key Players

For more information about this report visit https://www.researchandmarkets.com/r/ntfzlx

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