Staff Reporter
,
Middle East
Photo by Pixabay: https://www.pexels.com/photo/empty-escalators-inside-building-54581/
The focus of the new openings is in Dubai.
The share of new luxury stores that opened in the Middle East in 2022 doubled to reach 6% of the total globally, according to a report by Savills.
This is due to the luxury brands that continued to focus on “relatively underserved affluent markets” amidst the reduced international travel.
READ MORE: China leads new stores opening in 2022
“Dubai remained a primary focus for these new openings in the region, but Saudi Arabia also become a key market for new luxury store openings,” the report read.
The total of new luxury stores that opened last year increased by 11%, with China having the largest market share.
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