Like everywhere in the world, the GCC – the United Arab Emirates, Saudi Arabia, Qatar, Oman, Kuwait and Bahrain – has been critically affected by the pandemic, with the twin shocks of Covid-19 and the fall in oil prices and demand plunging the region into a deeper economic recession than the rest of the world. However, it has also seen a quicker recovery than elsewhere, and the crisis has pushed the GCC countries to accelerate reforms: from peace agreements to tourism strategies, resulting in new social dynamics across the region. As a major market for British luxury brands, Walpole has once again partnered with the Chalhoub Group– the leading partner for luxury across the Middle East – for our annual insight into the luxury market, its customers and the trends that will shape the future outlook.
Join Walpole, Ludivine Labussière, Head of Strategy, Chalhoub Group and Ian Grice, Director of Harrods Private Shopping on the 31st March at 10am BST / 2pm GST as we seek to discover how the crisis and these evolving social dynamics are impacting upon luxury in the region, from new shopping habits and attitudes towards luxury – including an emphasis on local brands and digitisation of luxury – to ‘post-pandemic’ local travel and tourism, and what the future holds for the sector in a market which is undergoing significant transformation.
