UAE Luxury Watch Market Size to Reach USD 2.21 Billion by 2030 : MarkNtel Advisors

BUSINESS BAY, UAE - June 10, 2025 - PRLog -- The luxury watch market in the UAE is on a robust growth trajectory, with projections indicating an increase in market size from approximately USD 1.61 billion in 2024 to USD 2.21 billion by 2030. The market is forecasted to grow at a compound annual growth rate (CAGR) of 5.21% from 2025 to 2030, according to a recent research report by MarkNtel Advisors.

Key Drivers of UAE Luxury Watch Market Growth

The remarkable growth of the UAE luxury watch market can be attributed to several factors:

• Rising Number of High-Net-Worth Individuals (HNWIs): The UAE continues to attract affluent individuals, with around 7,000 new millionaires settling in the country in 2024, up from 4,700 in 2023.
• Tourism Boom: An influx of tourists eager to purchase luxury goods enhances market demand.
• Cultural Affinity for Luxury: There is a growing emphasis on displaying wealth and status through premium products, particularly luxury watches.
• Tax-Free Environment: The UAE's favorable tax conditions encourage luxury spending.
• E-commerce Growth: A burgeoning online retail ecosystem provides easier access to luxury products for younger consumers.

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UAE Luxury Watch Market Segmentation Insights

• By Type (Mechanical, Electronic)
• By Band Type (Strap-Based, Chain-Based)
• By End-User (Men, Women, Unisex)
• By Distribution Channel (Offline Retail, Online Retail)
• By Region (Dubai Abu Dhabi & Al Ain Sharjah & Northern Emirates) and others

Retail Dynamics

Offline retail remains the primary distribution channel, accounting for approximately 85% of the total sales. Many consumers prefer purchasing luxury products in-person to ensure authenticity, leading to significant demand for offline boutiques, particularly in Dubai and Abu Dhabi. Major brands, including Rolex, have established extensive showrooms to cater to this preference.

UAE Luxury Watch Market Competitive Landscape

The competitive landscape features key players like Rolex, Patek Philippe, Audemars Piguet and others, who employ strategies such as mergers and collaborations to strengthen their market presence amid rising demand.

FAQs (UAE Luxury Watch Industry)

1. What are the current trends affecting the UAE luxury watch market?
2. How are demographic changes influencing luxury watch purchases in the UAE?
3. What role do e-commerce platforms play in the growth of the luxury watch market?
4. Which distribution channels are most popular among luxury watch consumers in the UAE?
5. What impact do high-net-worth individuals have on market demand?
6. How are major brands adapting to the shifting landscape of luxury watch sales?
7. What are the anticipated challenges for the luxury watch market in the coming years?

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