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Growth is expected to pick up and drive the luxury industry to new heights Growth is expected to pick up and drive the luxury industry to new heights

Bain & Company Reveals Luxury Market Growth in Dubai

Bain & Company, one of the world’s leading advisor to the global luxury goods industry, revealed its latest report named, Bain & Company Luxury Study 2018 Spring Update, in collaboration with Fondazione Altagamma, the Italian luxury goods manufacturers’ industry foundation.

The report points out Dubai’s stability in the market, aptly backed by its leading position as a highly-preferred tourist destination. According to the Bain & Company Luxury Study, luxury market is on a tear halfway through the year. A positive trend across all regions is set to drive this market higher by six to eight percent to reach about AED1,180 billion (USD321 billion).

Cyrille Fabre, partner, retail, Bain & Company, Middle East, said, “The GCC market was stable with some recovery from 2017 driven by tourism spend and online spend which now represents almost five percent of the regional luxury market.”