The majority of people in the UAE say they would prefer to have an in-house experience this holiday season, according to a new survey released by platinum
The findings were drawn from more than 500 respondents and show broad shifts in consumer behavior as the value of the UAE gift market is expected to reach US$19.7 billion by 2033.
Platinlist reported that 74.4 percent of residents chose gifts or experiences, marking a decline in demand for material goods such as electronics and jewelry. The company said that 64.1 percent of respondents chose gifts for receiving gifts because they create lasting memories, while 20.5 percent felt that they were personal and unique.
The UAE is shifting towards you-based crops
This trend is reinforced by the Region’s Young Desecographic profile. People under the age of 30 make up about 55 percent of the population and studies refer to the survey show that 65 percent of Gen Z Train Emotional gifts.
Platinamullist said this change is expected to increase the share of holiday spending towards live events and leisure activities.
Concert tickets emerged as the most sought-after gift encountered, chosen by 63 percent of those surveyed. The UAE’s live entertainment market is forecast to reach US$22.9 billion by 2033, with Music Evils accounting for the share.
Accommodation vouchers were the next most popular category at 18.5 per cent, followed by luxury brunches at 7.4 per cent. Adventure activities, family attraction passes and spa vouchers each generate 3.7 percent interest.
The entertainment industry is seeing an experimental shift
Breaking habits shows a cautious but strong desire for leisure. More than half of the respondents have the wealth to spend between AED250 and AED500 per gift. Looking ahead to the busy future, 43.5 percent expect to keep their monthly entertainment budget under AED500 while the equal share plan to spend between AED500 and AED1,000.
Platinamullist also reported that nearly 9 out of 10 residents intend to attend a concert or live music event over the next long weekend. Interest in immersion formats is increasing, with 23.1 percent focusing on trying to try theater immersion for the first time in the next year and 15.4 percent showing interest in cultural or heritage trips.
Cosmin Ivan, CEO of Platinamullist, said: “We see that live and experiential formats are becoming more and more oriented towards experiential behavior.”
Platinamullist said that the UAE and the wider region continue to see a strong push for experiential entertainment, driven by young people with a complex and sophisticated lifestyle.
