The Rise of Luxury Consumption in the Mideast - Automobile Culture

 

The first point to consider and investigate in this research is why luxury automobiles are so popular among the People. Many countries have long history of luxury and materialism, but none are as obsessed with automobiles as the ruling elites of KSA, the United Arab Emirates, and other affluent Middle Eastern countries.

The origins of luxury consumption in the Mideast become obvious after analyzing the available information on the issue. The Arabian Peninsula and the Middle East have long had equestrian traditions. Arab horses are regarded as most of the finest in the world. Call the Best supercar rental Dubai!

 


Some experts believe there is a link between these customs and the emerging automobile culture in the Middle East. Modern Arabs utilize vehicles to demonstrate their status, talents, and courage, attempting risky stunts like the Arab slide (Tafheet), which includes driving a car with just two wheels on either the right or left side.

The present generation of premium brand consumers expects a luxury digital experience by providing excessive information from several of reliable sources, with magnificent, stylish images, and a personal shopping experience that adds joy, enjoyment, and entertainment to the purchasing process, in addition to functionality.

Premium customers have a well-established purchasing behavior of looking for and learning regarding products and services via social media platforms, where they engage with other consumers, innovators, and luxury enterprises. To secure a good lifetime value with the consumer, luxury businesses must establish dynamic strategies and smart techniques to foster long-term connections with the premium brand consumer.

The Present State of the Middle East Luxury Car Market

The GCC (Gulf Co - operation Council) countries, which comprise Saudi Arabia, the UAE, Qatar, Oman, Kuwait, and Qatar, dominate the Middle Eastern luxury automobile market. Despite conflicts in Iraq, Syria, and Libya, as well as diplomatic isolation for Iran, these nations maintain a relatively high degree of economic prosperity.

Once the rest of the globe was plagued by a global banking crisis caused by unregulated hedge financing operations, the GCC luxury sector thrived the most. Because the banks in the Mideast follow Islamic banking norms and practices, which explicitly prohibit hedge funding and lending, Contact us for Luxury Car Rental Company in Dubai!

 

Nevertheless, the price of oil crisis that hit in 2013 and is still ongoing has had a substantial impact on the economy of the GCC nations. The luxury automobile market has suffered as a result of low gasoline costs and limited government funding. Market share and revenues of big German corporations have suffered significantly.

Despite the fact that the big luxury automobile manufacturers have lost momentum, other businesses such as Aston-Martin, Ferrari, and Tesla have begun to make inroads in KSA and the UAE, claiming more than 10% of the global market share.

 

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