The burgeoning demand for luxury watches and jewellery in Qatar stands in stark contrast to a global slowdown in luxury spending. As international markets show little growth, Qatar’s luxury landscape is flourishing, with projections indicating a 2.11% increase in the luxury watch and jewellery sector from 2025 to 2029. This upward trend underscores the unique position of Qatar as a vibrant hub for high-end consumer goods, attracting both established and emerging luxury brands looking to cater to a discerning clientele.
Doha: A Luxury Goods Powerhouse
Doha has firmly established itself as a significant player in the luxury segment, particularly in the realm of high-end timepieces. The annual Doha Jewellery and Watches Exhibition (DJWE) exemplifies this shift, showcasing over 500 brands and drawing an impressive 30,000 visitors, including celebrity attendees. “We’re happy that Qatar is organising such exhibitions because it’s really helping us to keep connecting with our clients,” remarked David Tedeschi, Hublot’s Managing Director for the Middle East, Africa, and Latin America, during an exclusive interview with Arabian Business.
Despite its relatively small population, Qatar boasts a remarkable per capita revenue in luxury goods, highlighting the nation’s substantial purchasing power. Several factors drive this consumption, including tax exemptions on luxury items and a growing base of high-net-worth individuals (HNWIs) and ultra-high-net-worth individuals (UHNWIs). Consequently, global luxury brands are increasingly eager to solidify their foothold in this burgeoning market.
Luxury brands are seizing opportunities in Qatar, leveraging its enthusiasm for horology with collections tailored specifically for regional tastes. Events like the DJWE continue to attract global prominence, and watchmakers such as Rolex, Patek Philippe, and Audemars Piguet have expanded their presence in the market. By offering exclusive pieces that incorporate Arabic numerals and culturally inspired designs, these brands tap into a unique demographic.
Audemars Piguet’s Royal Oak Qatar Special Edition, for example, boasts a burgundy dial that reflects the Qatari flag and retails for AED 367,000 via luxury reseller The Luxury Flavour. “It [Qatar] is a very important market for the brands, especially here in the region because it is among our top three most performing markets,” Tedeschi elaborated.
The Expanding Luxury Retail Landscape
Qatar’s luxury retail environment significantly bolsters the success of its watch and jewellery sectors. Premium shopping destinations like Place Vendôme, Printemps, and The Pearl-Qatar serve as havens for international luxury brands, catering to the nation’s affluent consumers.
Many high-end retailers offer bespoke services, including private viewings and personalized customization, elevating the shopping experience for HNW clients. As Qatar’s economy diversifies, its luxury sector displays resilience, with the luxury watches and jewellery segment projected to grow at a steady 2.11% CAGR.
Moreover, the jewellery market is on an impressive trajectory, expecting an annual growth rate of 6.19% from 2025 to 2029, according to Statista. The country’s rising wealth and ongoing investments in luxury fashion establish Qatar as a preeminent regional hub.
Notable high-jewellery brands such as Cartier, Bulgari, and Van Cleef & Arpels have established themselves firmly in Doha, ensuring that the luxury market remains vibrant. With continued investment in digital marketing strategies, Qatar is poised for robust growth in the luxury sector in the years to come.