Qatar’s luxury watch and jewelry sector is on an upward trajectory, poised to grow even as global luxury spending stalls. With revenue expected to hit $613.5 million in 2025 and a projected CAGR of 2.11% through 2029, Doha has cemented itself as a must-watch destination for horology enthusiasts and high-end jewelry aficionados.
Key Takeaways
- Qatar’s luxury watches and jewelry revenue to reach $613.5M in 2025
- Sector CAGR of 2.11% projected from 2025 to 2029
- High GDP per capita, tax-free environment, and rising HNWIs fuel demand
- Exclusive Middle Eastern watch editions and bespoke services drive sales
- DJWE attracts 500+ brands, 30,000 visitors, and global media attention
Market Growth And Projections
Qatar’s luxury segment is bucking the global trend. While worldwide luxury spending dipped 3% to $1.54 trillion in 2024, the Qatari market is forecast to grow steadily.
| Metric | Value |
|---|---|
| 2025 Revenue (Watches & Jewelry) | $613.5 million |
| Projected CAGR (2025–2029) | 2.11% |
| Jewelry Segment CAGR (2025–2029) | 6.19% |
Drivers Of Demand
- High GDP Per Capita: One of the world’s highest, boosting purchasing power.
- Tax-Free Environment: No import duties on luxury goods.
- Growing HNWI/UHNWI Population: More high-net-worth individuals fueling exclusive sales.
- Prestigious Events: The annual Doha Jewellery and Watches Exhibition (DJWE) attracts global buyers and media.
Exclusive Regional Editions
Top Swiss watchmakers tailor offerings for the Qatari market:
- Audemars Piguet’s Royal Oak Qatar Special Edition: Features a burgundy dial and Arabic numerals, priced at AED 367,000.
- Hublot’s New LVMH Collection Showcase: Debuted at DJWE, offering an exclusive first look for Qatari clients.
- Rolex, Patek Philippe, and independent maisons also unveil bespoke pieces with local motifs and engravings.
Luxury Retail Landscape
Doha’s high-end shopping hubs—Place Vendôme, Printemps, The Pearl-Qatar—host flagship boutiques with VIP services:
• Private viewings and custom-made jewelry workshops
• Multilingual concierge and after-sales support
• Digital marketing campaigns targeting affluent GCC customers
Future Outlook
As Qatar diversifies its economy, the luxury watch and jewelry market remains robust. Digital engagement, personalized experiences, and exclusive product drops will be key to sustaining growth. With the nation’s continued investment in world-class exhibitions and retail infrastructure, Doha is set to reinforce its status as the Gulf’s luxury epicenter.