Pursuits
Qataris Lead Way in Middle East Luxury Spend With $4,000 A Month
- AmEx survey finds shift in spending to basics amid oil slump
- More people are eating at home, preparing for a 'bumpy 2016'
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The appetite for luxury goods in Qatar, the world’s richest country per capita, is accelerating even as oil prices slump and economic growth falters.
A regional survey commissioned by AmEx (Middle East) BSC, a joint venture between American Express Co. and Mawarid Group, found that residents and citizens in Qatar spent an average of $4,000 per month on luxury goods and services in 2015, up from $2,500 a year earlier. That’s double the average spend in the other countries in the study.