Saudi Arabia Luxury Watch Market to Grow with a CAGR of 2.85% through 2030F

The Saudi Arabia Luxury Watch Market is expanding due to rising disposable incomes, urban development, a growing expatriate population, and increased demand for premium, stylish interiors aligned with modern lifestyles.

According to TechSci Research report, “Saudi Arabia Luxury Watch Market – By Region, Forecast & Opportunities, 2030F”, the Saudi Arabia Luxury Watch Market was valued at USD 270.11 Million in 2024 and is expected to reach USD 318.52 Million by 2030 with a CAGR of 2.85% during the forecast period. The Saudi Arabia luxury watch market is undergoing remarkable transformation, driven by a combination of economic growth, cultural evolution, and global brand expansion. As the Kingdom continues to diversify its economy under the Vision 2030 initiative, luxury consumption has emerged as a key area of interest, with watches playing a vital role in personal expression and status representation. Traditionally associated with wealth and prestige, luxury watches have become essential lifestyle accessories among the country’s affluent population. The increased visibility of high-end timepieces at social events, business meetings, and among public figures has further cemented their role as a symbol of sophistication and success. In this evolving market, consumers are not only looking for timekeeping devices but also investing in legacy pieces that offer craftsmanship, heritage, and enduring value.

The rise in disposable income, especially among younger Saudis and women, is significantly influencing purchasing behavior in the luxury segment. This demographic shift, combined with a growing appetite for international fashion and lifestyle trends, has contributed to a surge in demand for premium watches. Young professionals and millennials are particularly drawn to brands that balance traditional craftsmanship with contemporary design and exclusivity. In urban centers like Riyadh and Jeddah, luxury watch boutiques have expanded rapidly, catering to both seasoned collectors and first-time buyers. The influx of foreign talent, tourism, and high-profile events such as Formula E, international boxing matches, and cultural festivals has also increased visibility and interest in luxury brands. These events attract global luxury houses, further enhancing the country’s position as a prime market for high-end timepieces.

The expansion of physical retail infrastructure has played a significant role in market development. Upscale shopping centers and malls now feature dedicated luxury sections that house flagship stores of renowned watchmakers, offering an immersive brand experience. These boutiques provide exclusive collections, limited-edition pieces, and bespoke services, often in partnership with local distributors and retail groups. For instance, brands like Rolex, Patek Philippe, Audemars Piguet, and Richard Mille have all enhanced their presence in Saudi Arabia through official partners and high-end retail locations. The opening of new flagship stores, such as Hublot’s boutique in Solitaire Mall and Jacob & Co.’s store on Olaya Main Street in Riyadh, reflects the growing importance of the Kingdom in global brand expansion strategies. These luxury spaces are designed to offer more than just a purchase—they deliver personalized service, craftsmanship insight, and a luxurious customer journey.

Global partnerships, celebrity endorsements, and high-profile collaborations have also elevated brand visibility and consumer aspiration in the Kingdom. The involvement of international figures such as Cristiano Ronaldo, who currently plays for Al-Nassr FC in Riyadh and is an ambassador for Jacob & Co., has brought significant attention to the brand’s presence in Saudi Arabia. Similarly, global fashion weeks, art exhibitions, and sports sponsorships contribute to creating aspirational lifestyles centered around luxury consumption. These marketing strategies are particularly effective in connecting with aspirational buyers who seek to align themselves with the prestige and image that luxury watches convey. Brands that tell compelling stories, highlight their heritage, and offer exclusivity tend to perform well in this emotionally driven market.

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The Saudi Arabia Luxury Watch Market is segmented into type, end user, sales channel, regional distribution. 

Based on sales channel, online sales channel is the fastest-growing segment in the Saudi Arabia Luxury Watch Market, driven by increasing internet penetration, smartphone usage, and consumer preference for convenient shopping. Digital platforms offer buyers access to a wide range of luxury watch brands and models, often with detailed product information, virtual try-on features, and personalized services. Additionally, the rise of secure payment methods and reliable delivery services has boosted consumer confidence in purchasing high-value items online. Younger, tech-savvy consumers are particularly inclined toward e-commerce, making online sales a critical growth driver as luxury watch brands adapt their strategies to capture this expanding digital market.

Based on region, Northern and Central regions of Saudi Arabia are the fastest-growing segments in the Saudi Arabia Luxury Watch Market, fueled by rapid urbanization and rising disposable incomes. These regions, including cities like Riyadh in the Central area, are witnessing increased demand for premium and luxury timepieces as residents seek status symbols that reflect their growing wealth. Investments in infrastructure, retail expansion, and cultural shifts toward luxury consumption are driving market growth. Additionally, the Central region’s role as the political and economic hub attracts a diverse population with a strong appetite for high-end brands, while the Northern region’s development projects contribute to expanding consumer bases for luxury watches.

Major companies operating in Saudi Arabia Luxury Watch Market are:

• Rolex S.A.
• Patek Philippe S.A.
• Audemars Piguet Holding S.A.
• Richard Mille S.A.
• Hublot S.A.
• Omega S.A.
• Cartier International SNC
• TAG Heuer S.A.
• Jaeger-LeCoultre S.A.
• Jacob & Co. Inc.

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“The Saudi Arabia Luxury Watch Market is poised for sustained growth, underpinned by economic diversification, retail innovation, and evolving consumer behavior. Vision 2030 initiatives aimed at developing tourism, entertainment, and lifestyle sectors will continue to attract international brands and investors. With more consumers seeking high-end, culturally resonant, and personalized luxury products, the watch segment is expected to thrive as both a fashion statement and a long-term investment. As digital engagement increases and local awareness deepens, the Kingdom’s luxury watch landscape will likely become one of the most dynamic and influential in the Middle East, reflecting a unique blend of tradition, modernity, and global connectivity.” said Mr. Karan Chechi, Research Director of TechSci Research, a research-based management consulting firm.

“Saudi Arabia Luxury Watch Market By Type (Analog Watch, Digital Watch), By End User (Men, Women, Unisex), By Sales Channel (Online, Offline), By Region, Competition Forecast & Opportunities, 2020-2030F”, has evaluated the future growth potential of Saudi Arabia Luxury Watch Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Saudi Arabia Luxury Watch Market.

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