Qatar, the world’s richest country per capita, has topped the list of luxury goods and services spending in 2015 among five GCC countries, according to results of a new Amex survey of spending habits in the Middle East.
Wealthy Qatar residents and citizens spent an average of $4,074 per month on luxury goods and services in 2015, which is twice that of the Gulf average. The 2015 survey is based on 430 interviews conducted late last year in Qatar, Oman, Bahrain, the UAE and Kuwait.
1. Qatar: The average spending on luxuries: $4,074 per month
41% of households spend $1,001-$5,000 on luxury items
31% spend more than $5,000 on luxury items
19% spend $501-$1,000 on luxury items
8% spend $250-$500 on luxury items
1% spend less than $250 on luxury items
2. United Arab Emirates: The average spending on luxuries: $2,300 per month
Middle Eastern destination to shop for luxury items, 2015:
3. Abu Dhabi
4. Kuwait City
5. Beirut (Lebanon)
6. Manama (Bahrain)
7. Amman (Jordan)
8. Muscat (Oman)
9. Riyadh (Saudi Arabia)
Dubai continued to be the number one destination for luxury spending, followed by 16% for Doha, 15% for Abu Dhabi, 14% for Kuwait City, 4% for Beirut in Lebanon, 3% for Manama in Bahrain, 2% each for Amman (Jordan) and Muscat (Oman) and 1% for Riyadh (Saudi Arabia).
Do you plan to spend less this year? Thoughts?
Image: Qatar Airways.