The United Arab Emirates is set to become a major player in the luxury fragrance market, due to the country’s continued economic growth and the high disposable income of its consumers.
UAE’s luxury fragrance market is predicted to reach a value of $AU180 million by 2014, greatly overshadowing the mass fragrance market, which is forecast to be just $AU67 million by the same date.
Abu Dhabi International Airport is the fastest growing in the world, with more than 10 million passengers passing through its doors in 2009. The airport is also one of the top international outlets for luxury duty free products.
The significance of luxury beauty products will be underlined at the upcoming Beautyworld Middle East exhibition, held in Dubai. "The fragrance market in the UAE and the wider region remains an exciting one with tremendous potential for growth," said Ahmed Pauwels, CEO of Epoc Messe Frankfurt, the company behind Beautyworld Middle East. "The average spend on premium perfume is relatively higher than in other parts of the world as fragrances and perfumes are an important part of the local lifestyle and there is a higher disposable income."
See also: