- Insights from RLC Global Forum’s Leadership Series reveal resilient Gulf demand, accelerating investment and expanding regional connectivity reshaping global luxury
- Online retail across the GCC continues to grow faster than global averages
- The UAE continues to function as one of the world’s principal luxury tourism gateways
- Dubai remains one of the region’s leading luxury shopping destinations
- Regional aviation connectivity continues to underpin international luxury travel.
- Premium international visitors continue to generate exceptionally high spending.
LONDON, UK — 9 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.
“The discussions in London reinforced the UAE’s continuing importance as one of the world’s leading international luxury and tourism hubs. Its ability to connect global travellers, brands, investment and talent continues to make it a critical gateway for international businesses operating across the Middle East. As growth becomes more differentiated across the region, understanding the distinct strengths of each market will become increasingly important for global brands.” 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,” said Deborah 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,” said Derrick 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,” said André 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.
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About RLC Global Forum
RLC Global Forum is a CEO-level platform convening brand and retail leaders, innovators, and policymakers to advance strategic dialogue across the retail and consumer-facing industries. Through its portfolio of high-level gatherings, including the RLC Annual Forum in Riyadh, the RLC Fashion Summit in Milan, and the RLC CEO Summit in New York, it connects decision-makers across markets and disciplines to shape the future direction of global retail. The RLC Fashion Summit is the RLC’s flagship event for the global fashion and luxury industries.
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