Virtually 59% of luxury spenders in the MENA region select to expend more of their money on elevating experiences rather than goods.
Both residents in the UAE and across the region were insistent in their cooperation for Dubai as the ideal location for shopping, placing it to the number one city for luxury shopping in the region.
More than two-thirds of respondents across the MENA region, 68% rank Dubai as the most excellent location to shop, whereas Abu Dhabi comes second with 19% of the vote.
Among UAE residents, more than three-quarters placed Dubai ahead of every other major capital as the place to shop. This is noticeably dissimilar from the results of the same assessment in 2012 which showed respondents were most likely to spend their disposable income on tangible items such as high-end fashion and cars.
Survey revealed that generally regional spending on luxury experiences and goods is set to increase in the next 12 months with the majority of respondents presuming to expend more on luxury in 2015.
In the UAE particularly, 33% of respondents suppose to consume more on luxury goods and services in the coming months.
Looking at where UAE residents focus their spending, 59% per cent prioritize luxury experiences compared to 41 per cent who focus on luxury goods. Approximately half of respondents in the UAE which is 47%, ranked holidays as their top luxury experience, 45% said social calendar events and 35% said fine dining.
While UAE residents are progressively approving more spending on holiday experiences they still enjoy, however, the experience of luxury shopping such as designer-wear, jewelry, fashion and high end electronics. Besides, 87%, second only to Lebanon, choose the experience of in-store shopping when buying luxury goods, rather than buying goods online to be able to check the goods and its quality personally.