GULF ECONOMIES DAMPENED BY LOW OIL PRICES, BUT CONSUMERS STILL PREPARED TO SPLURGE ON PERSONAL CARE PRODUCTS
February 1st, 2017
The Arabian peninsula oil-producing nations of the Gulf Cooperation Council (GCC) have long been considered a lucrative consumer market for international brands. Many businesses flourish in the region and the beauty and personal care product industries are no exception.
According to Euromonitor International, the retail value of the GCC region's beauty and personal care market was USD9.3 billion in 2016 – member countries are Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates (UAE). These sales were 10% higher than in 2015, said the ...
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