07 Jun '13, 5pm

#Luxury in the #Arab_world: Would Sir like his goat wrapped? #Arabia #Arab #Saudi #KSA #Oman

DUBAI’S rich will soon have yet another way to flaunt their wealth, when the Burj al-Arab hotel starts selling its guests custom-made 24-carat gold iPads. The Middle East’s big spenders still do much of their shopping on foreign jaunts, as they have done since the oil money started flowing in the 1970s, but now they also have plenty of places back home to splash their cash. And the Gulf’s malls are drawing foreign shoppers from Russia, India and Africa, too. Bain & Company reckons that luxury spending in the region grew by 10% last year, to just over $8 billion, a bit less than half the amount spent in mainland China. As elsewhere, wealthy Arabs like to wear famous brands. But they are especially keen on one-upmanship and novelty. According to Patrick Chaloub, boss of Chaloub Group, a luxury retailer, customers increasingly know just what they want, and want something diff...

Full article: http://www.economist.com/news/business/21579010-how-rich-...

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