News

Staff Reporter

, Middle East

Published:

1 year ago

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Photo by Pixabay: https://www.pexels.com/photo/empty-escalators-inside-building-54581/

Share of new luxury store openings in Middle East doubles in 2022

The focus of the new openings is in Dubai.

The share of new luxury stores that opened in the Middle East in 2022 doubled to reach 6% of the total globally, according to a report by Savills.

This is due to the luxury brands that continued to focus on “relatively underserved affluent markets” amidst the reduced international travel.

“Dubai remained a primary focus for these new openings in the region, but Saudi Arabia also become a key market for new luxury store openings,” the report read.

The total of new luxury stores that opened last year increased by 11%, with China having the largest market share.

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Savills

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