The compound annual growth rate of the luxury goods industry in the United Arab Emirates (UAE) witnessed a 25 percent decrease in 2020 during the COVID-19 pandemic. UAE had the highest exposure to tourists they account for 60 percent of the luxury market spending. The global average decline in that year was 23 percent.
Compound annual growth rate of luxury goods market in the Gulf Cooperation Council countries in 2020, by country
Characteristic
CAGR of luxury goods
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Bain & Company. (April 14, 2021). Compound annual growth rate of luxury goods market in the Gulf Cooperation Council countries in 2020, by country [Graph]. In Statista. Retrieved July 22, 2024, from https://www.statista.com/statistics/1237114/gcc-cagr-luxury-goods-by-country/
Bain & Company. "Compound annual growth rate of luxury goods market in the Gulf Cooperation Council countries in 2020, by country." Chart. April 14, 2021. Statista. Accessed July 22, 2024. https://www.statista.com/statistics/1237114/gcc-cagr-luxury-goods-by-country/
Bain & Company. (2021). Compound annual growth rate of luxury goods market in the Gulf Cooperation Council countries in 2020, by country. Statista. Statista Inc.. Accessed: July 22, 2024. https://www.statista.com/statistics/1237114/gcc-cagr-luxury-goods-by-country/
Bain & Company. "Compound Annual Growth Rate of Luxury Goods Market in The Gulf Cooperation Council Countries in 2020, by Country." Statista, Statista Inc., 14 Apr 2021, https://www.statista.com/statistics/1237114/gcc-cagr-luxury-goods-by-country/
Bain & Company, Compound annual growth rate of luxury goods market in the Gulf Cooperation Council countries in 2020, by country Statista, https://www.statista.com/statistics/1237114/gcc-cagr-luxury-goods-by-country/ (last visited July 22, 2024)
Compound annual growth rate of luxury goods market in the Gulf Cooperation Council countries in 2020, by country [Graph], Bain & Company, April 14, 2021. [Online]. Available: https://www.statista.com/statistics/1237114/gcc-cagr-luxury-goods-by-country/