Qatar’s luxury goods estimated at CAGR of 2.55% – The Peninsula

Qatar’s luxury goods estimated at CAGR of 2.55% – The Peninsula

Qatar is considered one of the world’s swiftly-enhancing nations with millions of trade deals increasing each day.

The opulent market in the region holds the majority of stake in the Italian fashion brand Valentino in addition to many other London and Paris-based department stores.

With the rise of surging goods sold in the country, a compound annual growth rate (CAGR) of 2.55 percent is estimated in the coming years, according to data shown by a market intelligence and advisory firm, Mordor Intelligence.

The country is also developing by innovating its products and label markets such as luxury fashion outlet QELA contriving Qatar to be the biggest buyer of goods in the Middle East.

Various infrastructures instigated in the region have helped the country’s economy thrive as many goods were sold in line with FIFA World Cup 2022 and other global events in Qatar.

The report says that “Rising funding for the fashion sector in Qatar and increasing disposable income of consumers are major factors propelling the growth of the global Qatari luxury goods market.”

Over the period, changing the preference of urban consumers for various products like jewelry will enable the luxury goods market to gain profit rapidly in the country as many conveniently opt to