New Codes of Luxury in Saudi Arabia

A Foresight Report for Together Group

Case Studies

In partnership with Together Group, The Future Laboratory led the creation of a robust, in-depth foresight report exploring the emerging trends and market and mindset shifts that are shaping the future of luxury in the Kingdom.

Under the framework of Vision 2030, Saudi Arabia is entering a new era of innovation and enterprise – emerging as a nexus of locally relevant yet internationally networked luxury. This report offers a comprehensive exploration of the key success factors for brands and local visionaries to create the next wave of Saudi-first experiences, destinations and brands.

Launched with a webinar that welcomed more than 600 global attendees, the research emphasises an evolving luxury narrative and secured dedicated coverage in top-tier outlets such as Vogue Business, Jing Daily and Arab News.

By 2030, Saudi Arabia aims to position itself as a leading luxury market globally. The insights provided by this foresight report equip brands and stakeholders with the knowledge to create impactful strategies that resonate with a dynamic consumer base, ensuring their relevance in a future that is fast unfolding.

The flurry of cultural activity taking place is the result of a huge effort spanning both public and private investment. Today, the country’s creative sectors are in their infancy, but numerous home-grown brands are coming to the market, and established luxury names are eyeing KSA. As a result, tourists will soon find more reasons to visit and Saudis will find many more possibilities nationwide.

Taking an inside-out approach, the project was supported by an illustrious line-up of experts, including entrepreneurs who are building the nation’s cultural industries, and proprietary data from a first-of-its-kind survey of affluent Saudi nationals via FuturePoll ™, The Future Laboratory’s quantitative division.

If you are interested in finding out more about our foresight reports that combine quantitative and qualitative research with original case studies and innovations to achieve your business objectives, click here. For more about our client reports and case studies, get in touch with a member of our team.

READ THE REPORT

Published by:

29 April 2024

Author: Alex Hawkins

Image: Leyja wellness resort Neom, Saudi Arabia- Photography supplied by Habitas

Share
𝕏

Left: Shebara by Red Sea Global in collaboration with AMAALA. Right: Leyja oasis resort Neom, Saudi Arabia

New Codes of Luxury in Saudi Arabia provides new levels of insight into:

: The Luxury Consumer Landscape

Saudi Arabia is made up of diverse yet equally vital luxury audiences. Making up key cohorts for the future, multiplying numbers of ultra-high-net-worth and high-net-worth individuals (U/HNWIs), a sizeable youth population and empowered women are all driving luxury directions.

: Ultra-luxurians
: Women’s Wealth
: Youthquake

: Overarching Luxury Mindsets

As the Kingdom continues to broaden its horizons, invest in its youth and construct a legacy aligned with its Vision 2030 aspirations, a host of trends are flourishing – facilitated by Saudi Arabia’s commitment to technological innovation, and ambitious hospitality and tourism projects.

: Embracing Convenience and Personalisation
: Health, Wellbeing and Beauty Rising
: Celebrating Saudi Enterprise

: Creating Future Luxury Experiences, Destinations and Brands

KSA’s new codes of luxury will fundamentally redefine what is considered premium, as well as why. Understanding new notions of authenticity, uniqueness and cultural relevance – underpinned by the evolving preferences of sophisticated consumers – will be essential.

: Fuse Future and Heritage for Timeless Innovation
: Find Awe in Saudi’s Spectacular Dimensions
: Accelerate the Next Generation of Hero Brands
: Embrace Seamless Living Beyond Boundaries

READ THE REPORT

‘This is foresight on a transformative scale and there is a lot of giga-ambition here. It is about defining tomorrow in ways that are extraordinary and awe-inspiring.’

Martin Raymond, co-founder, The Future Laboratory

New Codes of Luxury in Saudi Arabia

Read the full report

Looking to create disruptive thought-leadership?

Create compelling and newsworthy content that will capture the attention of your target audience with our commissioned thought-leadership reports – a service that will raise your brand awareness, help you secure top-tier press coverage and position your business uniquely in the competitive landscape.

Whether you’re looking to generate media interest or capture the attention of key business prospects and investors in a B2B setting, contact us here. 

FIND OUT MORE