The Gulf Region Solidifies Its Position as a Strategic Anchor of Global Luxury Growth

September 10, 2026
RLCLeadershipSeries_Panel 2
  • Insights from RLC Global Forum’s Leadership Series reveal that Saudi attracted 93% of GCC e-commerce investment in 2025, compared with 46% in 2021
  • Online retail penetration remains around 11%, suggesting significant room for further growth
  • Investment increasingly extends beyond retail into logistics, fulfilment and digital infrastructure
  • The executive session introduced “Uneven Futures”, the theme of the 2027 RLC Annual Forumtaking place in Riyadh from 1–2 February 2027

LONDON, UK — 10 September 2026 — The Gulf region is playing an increasingly strategic role in the future of global luxury as resilient regional demand, sustained investment and expanding international connectivity reshape where brands deploy capital, build customer relationships and pursue long-term growth.

These were among the principal conclusions emerging from “The New Geography of Growth”, an executive leadership session convened by RLC Global Forum in partnership with Selfridges in London. Bringing together chief executives, institutional investors and senior industry analysts, the discussions examined the structural forces reshaping luxury demand as markets, consumers and investment patterns continue to diverge.

The discussions pointed to a market whose centre of gravity continues to shift. While the United States has firmly established itself as the world’s largest luxury market and China has entered a more measured phase of recovery, the Gulf is assuming a more prominent role within the industry’s long-term growth story. Across Saudi Arabia and the United Arab Emirates, continued investment in premium retail, hospitality, tourism, aviation and digital commerce is reinforcing the region’s importance within the evolving global luxury landscape.

“One of the strongest themes to emerge from our discussions in London is the scale of transformation taking place across Saudi Arabia. International brands increasingly see the Kingdom as a market where retail, tourism, digital commerce, logistics and destination development are reinforcing one another, creating a growth story that looks fundamentally different from the one global executives were discussing only a few years ago.” said Panos Linardos, Chairman of RLC Global Forum.

Bloomberg Intelligence highlighted that Saudi Arabia accounted for approximately 93% of GCC e-commerce investment in 2025, reflecting the Kingdom’s rapidly expanding digital economy, while online retail across the GCC continues to grow faster than global averages despite relatively low market penetration, pointing to significant long-term structural potential. At the same time, Dubai continues to demonstrate the resilience of its luxury ecosystem, supported by rebounding international tourism, premium retail and its position as one of the world’s leading global travel hubs.

“We continue to see growth across the GCC, although it will come through different channels than before,” saidDeborah Aitken, Senior Industry Analyst, Bloomberg Intelligence. “Tourism recovery is likely to take longer, but domestic investment and regional capital deployment continue.”

Global Blue data presented during the session showed that despite double-digit declines in Middle Eastern traveller numbers during parts of 2026, spending by affluent Gulf visitors remained close to previous-year levels, demonstrating the increasing concentration of luxury value among the region’s highest-spending consumers.

Across Europe’s leading luxury destinations, U.S. high-net-worth visitor penetration has increased from below 10% historically to approximately 17%, with purchasing behaviour now more closely correlated with S&P 500 performance rather than exchange-rate movements. At the same time, travellers from Brazil, Mexico and Argentina continue to contribute a growing share of premium tax-free luxury spending.

“The number of high-spending travellers has become more concentrated, but average spend continues to rise,” saidDerrick Hardman, Regional Chief Operating Officer of Global Blue. “One percent of shoppers now account for 27% of tax-free luxury spending.”

As value becomes progressively concentrated among affluent consumers, luxury destinations are reassessing how physical environments are designed, placing greater emphasis on private clienteling, hospitality, personalised service and curated experiences.

“Luxury is no longer only about buying a product. It is about creating moments people remember. Retail today is about creating happiness,” saidAndré Maeder, Chief Executive Officer of Selfridges Group. “We want people to come for the experience, even before they decide what they want to buy.”

Beyond physical transformation, participants agreed that long-term competitive advantage will depend on organisations capable of combining operational excellence with creativity, craftsmanship and sustained cultural relevance.

The executive session also introduced “Uneven Futures”, the theme of the 2027 RLC Annual Forum, taking place in Riyadh on 1–2 February 2027.

“Growth is becoming more uneven and investment more selective,” said Panos Linardos, Chairman of RLC Global Forum. “Understanding why some markets, sectors and businesses accelerate while others stall is becoming a defining leadership challenge. The Gulf is playing an increasingly important role within that changing landscape, and that’s the thinking behind ‘Uneven Futures’, the conversation we will continue in Riyadh next February.”

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