Fashion weeks not only offer clothes and accessories, but also celebrate the cultural heritage of the region, promote local talent, and contribute to the economic development of the fashion industry.
MENA's fashion market is projected to record a compound annual growth rate of approximately 7% between 2023 and 2027, with Saudi Arabia and the U.A.E. accounting together about half of the $89 billion market value last year, according to Euromonitor International data. This is being bolstered by big spenders. In the U.A.E. and Saudi Arabia, a BoF Insights survey found that as much as 50% of high earners spend more than $1,000 on average a month on fashion.
This story is from the July 2024 edition of Forbes Middle East - English.
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This story is from the July 2024 edition of Forbes Middle East - English.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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