RIYADH: Saudi Arabia is rising on the priority list of the global luxury industry as brands expand their presence to capture growing domestic demand, experts have told Arab News.
The expansion comes as the Kingdom builds out its retail, hospitality and entertainment sectors under Vision 2030, creating more occasions to consume luxury while bringing international brands closer to Saudi customers who previously made many high-end purchases abroad.
Tourism developments are widening the market further. In June, Four Seasons opened at Amaala’s Triple Bay on the northwestern coast, while InterContinental Hotels & Resorts told Arab News that month that it expects its Luxury & Lifestyle portfolio in Saudi Arabia to expand to six brands by 2028.
Market shift
For Lebanese luxury fashion house Georges Hobeika, the transformation is visible in how it serves Saudi clients.
