UAE Luxury Watch Market Research Report: Forecast (2025-2030)

Market Insights & Analysis: UAE Luxury Watch Market (2025-30):

The UAE Luxury Watch Market size was valued at around USD1.61 billion in 2024 and is projected to reach USD2.21 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 5.21% during the forecast period, i.e., 2025-30. The main reasons behind this growth are the increasing disposable incomes of people, the increasing number of tourist arrivals, culture of showing high-class status through luxury items, presence of multiple watchmaker companies, growing female consumer base, tax-free purchasing, and the growth of e-commerce providing ease to young generations in choosing their desired products.

The luxury watch market in the UAE has seen high growth in recent years. This can be observed from the increasing sales and imports of premium Swiss watches. As per the International Trade Council, the quantity of Swiss watches imported in the UAE increased by around 11.8% in 2024 compared to the previous year. Moreover, according to the owner of MB&F, an independent Swiss watchmaker company, the demand for premium watches has increased as they were struggling to sell even two watches some years back, but sold around 46 watches in 2024, some of which cost more than USD2,40,000. Therefore, a significant rise in imports and sales of premium watches in the UAE indicates the good growth of the market.

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Furthermore, the market is highly supported by the tourists coming to the UAE. More tourists directly correlate with high sales of luxury and premium products. Around 18.74 million people visited Dubai in 2024, as per the government data. Some tourists are highly inclined towards purchasing luxury watches from the UAE as there is no tax on purchasing, and they can choose their desired watch from a wide collection of multiple brands in the country. Hence, an increasing number of tourists directly correlates with high sales of luxury watches. Therefore, the market has experienced high growth due to the high income of the population and their aim to symbolize status by purchasing premium products, and this trend is fueled by the presence of multiple well-known watchmakers in the country and its tax-free environment.

UAE Luxury Watch Market Driver:

Increasing Number of High Net Worth Individuals Driving the Market Growth – The number of people with high incomes, including both local and expats, is continuously increasing in the UAE. For instance, as per a global property management company, around 7,000 millionaires came to reside in the UAE in 2024, showing an increase of around 48.93% compared to 2023. Such people are the major buyers of luxury watches, as these products enhance their status symbol. Also, various luxury watches are not just for fashion but also act as an investment, mainly the rare pieces or those with precious metals & stones. Hence, most of the HNWIs are attracted by these watches, thus increasing their demand. Therefore, the presence of multiple high-earning people in the UAE has driven the market growth, and this trend is expected to continue in the future as well.

UAE Luxury Watch Market Opportunity:

Expanding E-Commerce to Offer Lucrative Growth Opportunity – The e-commerce sector of the UAE is continuously expanding. For instance, as per the Dubai Chamber of Commerce, the expected revenue generated from e-commerce by 2026 was around USD9.2 billion, but the sector has already crossed this target by earning a revenue of around USD11 billion in 2024. This will provide a good growth opportunity for the market as the watchmaker companies can showcase their products among a wide consumer base. In addition to this, they can also integrate a virtual try-on feature and provide exclusivity similar to offline stores. This will attract a lot of buyers, mainly the young and tech-savvy generation, thus increasing the sales of watches. Therefore, the retail through online channels by providing a luxury experience to consumers can help watchmakers increase their sales, thus providing a good growth opportunity to the market.

UAE Luxury Watch Market Challenge:

Proliferation of Counterfeit Products Hindering Market Growth – The UAE is one of the most premium retail hubs of the world, due to which it attracts a large segment of consumers of luxury products. At the same time, it becomes a hotspot for counterfeit products. Such watches not only harm the image of genuine manufacturers but also lead to huge financial losses. For instance, in 2020, Dubai police seized around 29,000 fake watches valued at around USD12,000 per watch, indicating that these are copies of premium watches. This hinders the growth of the market as more than 60% of their buyers made purchases intentionally and were happy with their quality. This challenge can be addressed through advanced brand authentication technologies and stronger law enforcement related to such products. Therefore, the availability of replicas has limited the sales of original luxury watches, thus presenting a challenge to the market’s growth.

UAE Luxury Watch Market Trend:

Premium Women’s Watches Gaining Traction – The women’s segment has remained untapped so far in terms of luxury watches in the UAE. However, their sales have surged in recent years. This can be observed from the increasing interest of women in upgrading their watches as compared to men. This has inclined various leading watchmaker companies to expand their women’s collections. For instance, various leading luxury watch brands present in the UAE, such as Rolex, Patek Philippe, IWC Schaffhausen, Cartier, etc., were present in the Watches and Wonders fair organized in Switzerland in 2024 to unveil their latest collections, and the women’s segment experienced the highest number of new launches. This increases the customer base for the market. Therefore, the market has been fueled by the increasing interest of women in premium luxury watches, which can be observed from the multiple women's collections launched by various watchmakers in recent years.

UAE Luxury Watch Market (2025-30): Segmentation Analysis

The UAE Luxury Watch Market study of MarkNtel Advisors evaluates & highlights the major trends and influencing factors in each segment. It includes predictions for the period 2025–30 at the country level. Based on the analysis, the market has been further classified as:

Based on Type:

• Mechanical
• Electronic

Based on the type of watch, the mechanical segment leads the market with a share of around 70%. This is due to the precise manufacturing techniques involved in their creation. Such watches are highly attractive to look at as their mechanism depicts the workmanship of an artisan, thus attracting various collectors and buyers. Additionally, many of such watches are made with precious metals and stones, which not only makes them fashionable but also appealing to the consumers who buy them as an investment. These factors have inclined multiple watchmaker companies to expand into mechanical watch collections. Moreover, some companies, such as Rolex, do not even make electronic watches, which indicates their strong association with heritage. As a result, a very high demand for mechanical watches has been created in recent years. Therefore, mechanical watches have been the most sold ones due to their extreme craftsmanship and association with heritage, and this dominance is expected to continue in the future as well.

Based on Distribution Channel:

• Offline Retail
• Online Retail

Based on the distribution channel, offline retail stores dominate the market with a share of around 85%. This is because consumers prefer to buy such expensive products from certified stores only, so that they can buy desired products by trying them and examining them closely, while preventing the purchase of duplicate products. Also, multiple companies have their stores present in the UAE to support this trend, with most of them in Dubai and Abu Dhabi. For instance, 18 showrooms of Rolex showrooms are present in the UAE, with 11 in Dubai, 5 in Abu Dhabi, and 2 in Al Ain. These factors create a very high demand for buying luxury watches from offline stores. Therefore, the offline retail segment leads the market due to strong consumer preference for offline buying and the presence of multiple boutiques. Also, this dominance is expected to continue in the future as well.

UAE Luxury Watch Industry Recent Development:

• 2023: Hublot and its partner, Ahmed Seddiqi & Sons, collaborated with renowned calligraphy artist Wissam Shawkat to launch two new watches as part of their Classic Fusion Black Magic collection. The timepieces featured Arabic calligraphy, with phrases like "Al Zaman" and "Al Waqt," meaning "time," symbolizing the fusion of Hublot's Swiss craftsmanship with Arabian heritage.

Gain a Competitive Edge with Our UAE Luxury Watch Market Report

1. UAE Luxury Watch Market Report by MarkNtel Advisors provides a detailed & thorough analysis of market size & market share, growth rate, competitive landscape, and key players. This comprehensive analysis helps businesses gain a holistic understanding of market dynamics & make informed decisions.
2. This report also highlights current market trends & future projections, allowing businesses to identify emerging opportunities & potential challenges. By understanding market forecasts, companies can align their strategies & stay ahead of the competition.
3. UAE Luxury Watch Market Report aids in assessing & mitigating risks associated with entering or operating in the market. By understanding market dynamics, regulatory frameworks, and potential challenges, businesses can develop strategies to minimize risks & optimize their operations.