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

Market Overview

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 market is driven by increasing disposable income, a rising population of affluent consumers, and a cultural emphasis on prestige and status. Greater exposure to global luxury trends, coupled with Saudi Arabia's Vision 2030 initiatives, is accelerating demand. The growth is further supported by the expansion of premium retail infrastructure and the ongoing digital transformation, attracting both local buyers and leading international luxury brands. According to the World’s Wealthiest Cities Report 2025 by New World Wealth, Riyadh experienced a 65% increase in millionaires between 2014 and 2024. The Saudi capital is now home to over 20,000 individuals with liquid investable assets of USD1 million or more, including 77 centi-millionaires and 11 billionaires. Meanwhile, Jeddah witnessed a growth of over 50%, now hosting 10,400 millionaires. This rise in affluent residents aligns with Saudi Arabia’s ambitious Vision 2030 economic reform program, launched in 2016 by Crown Prince Mohammed bin Salman, aimed at transforming the Kingdom’s economy and attracting global wealth.

Key Market Drivers

Rising Disposable Income and Affluent Consumer Base

One of the primary drivers fueling the growth of the Saudi Arabia luxury watch market is the steady increase in disposable income and wealth among the Kingdom’s affluent population. Over the past decade, Saudi Arabia has experienced significant economic growth, largely due to its oil wealth and ongoing economic diversification efforts under Vision 2030. This prosperity has led to a growing class of high-net-worth individuals (HNWIs) and affluent middle-class consumers with substantial purchasing power. Luxury watches are seen not only as functional timepieces but also as symbols of status, prestige, and personal achievement. For many Saudis, owning an exclusive luxury watch reflects success and social standing, making it a highly desirable product category. With more disposable income at their disposal, consumers are willing to invest in premium, high-quality watches from renowned global brands, ranging from Rolex and Patek Philippe to Audemars Piguet and Richard Mille. According to the 2023 Household Income and Consumption Expenditure Statistics, the average monthly household disposable income in Saudi Arabia was approximately USD3,197. In terms of per capita disposable income, the national average stood at roughly USD863 per month. Saudi individuals had a higher average income of about $1,074, while non-Saudi individuals earned around USD515 per month.

Expansion of Retail Infrastructure and Online Platforms

Another significant driver behind the luxury watch market’s expansion in Saudi Arabia is the growth and modernization of retail infrastructure, coupled with the rise of e-commerce platforms. The Kingdom has witnessed a surge in luxury shopping malls, standalone boutiques, and flagship stores for prestigious watch brands in major cities like Riyadh, Jeddah, and Dammam. International luxury watchmakers have been actively expanding their physical presence, offering exclusive in-store experiences that appeal to high-end consumers. Simultaneously, the digital transformation of retail has revolutionized how luxury watches are marketed and sold. In January 2025, Saudi Arabia had 33.9 million internet users, representing a 99% internet penetration rate. This represents a growth of 597 thousand (+1.8%) users compared to January 2024. The biggest year-on-year growth in internet users was registered from 2016 to 2017, with a 28% increase. Online platforms and social media have increased accessibility to luxury watches beyond traditional brick-and-mortar stores. Consumers can now browse extensive collections, customize their selections, and make secure purchases online, often accompanied by virtual consultations or augmented reality features to preview products. This blend of physical and digital retail channels has broadened the market reach, attracting younger, tech-savvy consumers who value convenience and variety. Additionally, e-commerce platforms enable brands to offer limited editions and exclusive collaborations directly to consumers, enhancing the appeal and exclusivity of luxury watches.

Vision 2030 and Tourism-Led Economic Diversification

Saudi Arabia’s Vision 2030, a comprehensive reform plan aimed at diversifying the economy away from oil dependence, has significantly contributed to the growth of the luxury watch market. A central pillar of Vision 2030 is to boost tourism and entertainment sectors, making the Kingdom an attractive destination for affluent visitors from around the world. This strategic focus on luxury tourism increases the demand for high-end goods, including luxury watches, as international tourists and business travelers often seek premium shopping experiences. The government’s investments in large-scale entertainment, hospitality, and retail developments such as the Red Sea Project, NEOM, and Qiddiya have led to the opening of luxury hotels, shopping districts, and exclusive retail outlets. These developments not only attract wealthy tourists but also encourage local consumers to engage more with luxury brands in a cosmopolitan setting. Furthermore, the easing of regulations, such as relaxed visa policies and support for foreign investments, has encouraged international luxury brands to enter or expand in the Saudi market. This influx of brands brings fresh offerings, innovative designs, and enhanced customer experiences that stimulate local demand. 

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Key Market Challenges

Heavy Dependence on Imports and Supply Chain Vulnerabilities

A significant challenge for the Saudi luxury watch market is its heavy reliance on imports, as nearly all high-end watches come from established international manufacturers based primarily in Switzerland, Germany, and other global hubs. This dependence exposes the market to various supply chain vulnerabilities, including delays caused by geopolitical tensions, customs regulations, and logistical disruptions. Saudi Arabia imports luxury watches through specific channels, and any disruption in global trade routes, such as increased tariffs, port congestions, or restrictions due to pandemics, can delay the delivery of new models and limited editions. Such delays can frustrate consumers, especially collectors and enthusiasts who prioritize exclusivity and timely access to the latest products. Additionally, fluctuating currency exchange rates can affect the final retail price of imported watches, sometimes making them less affordable or less competitive compared to neighboring markets. Retailers must manage these uncertainties carefully to maintain consistent stock and competitive pricing.

High Price Sensitivity and Consumer Education

Despite the growing affluence in Saudi Arabia, a challenge remains in educating potential buyers about the long-term value and craftsmanship behind luxury watches. Many consumers are highly price-sensitive and may hesitate to invest substantial sums in luxury timepieces without fully understanding their heritage, quality, and investment potential. Luxury watches often carry hefty price tags that reflect superior materials, intricate mechanical movements, and brand prestige. However, consumers unfamiliar with the nuances of watchmaking might perceive these prices as excessive or unjustified, leading to slower market penetration outside the most affluent segments. Moreover, counterfeit and replica watches pose a problem, confusing buyers and undermining trust in authentic luxury brands. This necessitates significant consumer education efforts by brands and retailers to highlight authenticity, warranty, after-sales service, and the emotional value of owning a genuine luxury watch.

Cultural and Regulatory Barriers to Market Expansion

Cultural preferences and regulatory constraints present additional challenges to expanding the luxury watch market in Saudi Arabia. While the market is growing, traditional social norms and conservative values can sometimes limit the visibility and marketing of luxury goods, particularly those perceived as ostentatious. Luxury watches are often seen as symbols of wealth and status, which may not align with all consumer segments’ cultural or social attitudes. This can restrict broader market acceptance and limit outreach efforts, especially among younger or more modest consumers.Furthermore, regulatory issues such as customs duties, import restrictions, and compliance with local commercial laws can create barriers for international brands attempting to enter or expand in Saudi Arabia. The Kingdom's regulatory environment is evolving but still presents challenges related to licensing, taxation, and market authorization.Additionally, marketing strategies must be carefully tailored to respect cultural sensitivities while appealing to modern luxury consumers. Striking this balance is critical for brands aiming to grow their footprint without alienating potential customers.

Key Market Trends

Growing Demand for Limited Editions and Bespoke Timepieces

A prominent trend in the Saudi Arabia luxury watch market is the increasing demand for limited-edition and bespoke watches. High-net-worth individuals (HNWIs) in the Kingdom are seeking timepieces that reflect exclusivity, craftsmanship, and personal identity. Unlike mass-produced models, limited-edition watches often carry unique design elements, intricate complications, or historical relevance, making them highly desirable among collectors and status-conscious buyers. Many affluent Saudi consumers view watches as more than functional accessories they are wearable works of art and symbols of social standing. This mindset fuels a strong appetite for watches that are rare or customized to individual tastes. Global brands like Patek Philippe, Audemars Piguet, and Richard Mille are responding by offering special editions tailored for Middle Eastern markets or even for Saudi-specific events. Customization options such as engraved initials, rare materials, or dial colors—are also gaining popularity. These services often come at a premium but resonate with buyers looking for personalization and uniqueness. This trend is further enhanced by the expansion of luxury brand boutiques and showrooms in cities like Riyadh and Jeddah, offering in-person consultations and bespoke experiences.

Rise of Digital Sales Channels and Omnichannel Retailing

The luxury watch sector in Saudi Arabia is increasingly embracing digital transformation, with a noticeable shift toward online sales and omnichannel retail strategies. Traditionally, luxury watches were purchased in-store due to the need for tactile experience and personalized service. However, advancements in e-commerce technology and changing consumer habits have led more brands to enhance their online presence. E-commerce platforms now offer high-definition imagery, virtual try-ons, augmented reality (AR), and concierge-level service, replicating the luxury boutique experience digitally. Leading watch brands and authorized retailers have launched dedicated online portals with secure transactions, return policies, and exclusive online releases to attract tech-savvy buyers. This trend gained momentum during the COVID-19 pandemic and has since continued as part of a broader shift in consumer expectations. Saudi consumers, particularly the younger demographic, increasingly prefer the convenience of digital channels without compromising on quality or authenticity. Furthermore, omnichannel strategies—where online and offline experiences are integrated—are becoming standard. Buyers may explore options online, consult virtually with watch experts, and finalize purchases in-store or vice versa. Retailers who offer a seamless, consistent experience across platforms are likely to gain a competitive edge.

Segmental Insights

Type Insights

In the Saudi Arabia luxury watch market, analog watches represent the dominant segment, driven by their timeless appeal, craftsmanship, and association with prestige. Unlike digital watches, which emphasize functionality and modern features, analog watches are perceived as symbols of tradition, sophistication, and status—qualities highly valued by affluent Saudi consumers. These watches often feature intricate mechanical movements, handcrafted components, and luxurious materials such as gold, platinum, and alligator leather, enhancing their desirability among high-net-worth individuals and collectors. Analog watches are favored for formal occasions, business settings, and high-profile social gatherings, where style and elegance matter. Many renowned global brands like Rolex, Patek Philippe, and Audemars Piguet specialize in analog designs that convey heritage and exclusivity. Limited-edition and bespoke models further elevate the segment, allowing customers to express individuality through personalized dials, straps, or engravings. Additionally, analog watches are often passed down through generations, adding emotional and legacy value to the purchase. In Saudi Arabia, where luxury is deeply tied to personal identity and cultural expression, analog watches align perfectly with consumer preferences for high-end, meaningful investments. This strong alignment with local tastes continues to cement analog timepieces as the preferred choice in the Kingdom's thriving luxury watch market. 

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Regional Insights

The Western region of Saudi Arabia stands out as the dominant area in the Saudi Arabia Luxury Watch Market due to its economic significance, cultural heritage, and concentration of high-income consumers. Cities like Jeddah, Makkah, and Madinah not only serve as major urban and commercial hubs but also attract millions of domestic and international visitors annually for both business and religious tourism. This consistent influx of affluent tourists and residents fuels strong demand for premium goods, including luxury timepieces. Jeddah, in particular, is home to several high-end shopping districts and luxury retail outlets, making it a prime destination for global watch brands to establish boutiques and flagship stores. The city’s cosmopolitan lifestyle and diverse population also support a thriving market for luxury fashion and accessories, where watches are often seen as essential elements of personal style and status. Moreover, the Western region’s proximity to the Red Sea and its role in Saudi Arabia’s Vision 2030 projects—such as the Red Sea tourism development and Jeddah Central—have further enhanced its retail infrastructure. With rising disposable incomes, a strong tourism sector, and a deeply rooted appreciation for luxury, the Western region remains a strategic and profitable area for growth in the Kingdom’s luxury watch market.

Recent Developments

• In 2025, Swiss luxury watchmaker Hublot, in collaboration with its partner Attar United, announced the opening of its first flagship boutique in Saudi Arabia, located in Solitaire Mall, Riyadh. This new boutique strengthens Hublot’s regional presence and offers customers an exclusive experience that reflects the brand’s unique identity and craftsmanship.
• In 2025, Swiss luxury watchmaker Hublot has inaugurated its first flagship boutique in Saudi Arabia, marking a significant expansion in the Middle East. The new store, located in Riyadh, spans 246 square meters and embodies Hublot's fusion of contemporary art and luxury craftsmanship. This opening underscores the brand's commitment to the Saudi market and offers clients an immersive experience into Hublot's world of innovative watchmaking.
• In 2023, luxury watch and jewelry brand Jacob & Co. launched its debut boutique in Saudi Arabia, marking the occasion with the unveiling of a limited-edition CR7 collection inspired by Cristiano Ronaldo. The boutique is located on Olaya Main Street in Akariya Plaza, Riyadh, and its grand opening was attended by Ronaldo himself. The Portuguese football icon, who joined Al-Nassr FC in Riyadh in January 2023, has long been associated with Jacob & Co. as both a friend and brand ambassador.

Key Market Players

• 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.

Report Scope:

In this report, the Saudi Arabia Luxury Watch Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• Saudi Arabia Luxury Watch Market, By Type:

o   Analog Watch

o   Digital Watch

• Saudi Arabia Luxury Watch Market, By End User:

o   Men

o   Women

o   Unisex

• Saudi Arabia Luxury Watch Market, By Sales Channel:

o   Online

o   Offline

• Saudi Arabia Luxury Watch Market, By Region:

o   Western

o   Northern & Central

o   Eastern

o   Southern

Competitive Landscape

Company Profiles: Detailed analysis of the major companies presents in the Saudi Arabia Luxury Watch Market.

Available Customizations:

Saudi Arabia Luxury Watch Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).