Is ‘opulomania’ a growing problem in the Gulf?

Akshay Sardana’s take on opulomania, the obsessive pursuit of luxury goods | Fast Company Middle East

From gold-encrusted coffee to luxury cars and handbags, the Middle East’s relationship with luxury is impossible to miss. Today, the Middle Eastern luxury goods market is estimated at around $15.85 billion. It is expected to double in size by 2030, driven mainly by the UAE and Saudi Arabia, according to Boston Consulting Group.

This is giving rise to a new malaise. Often dubbed opulomania, the obsessive pursuit of luxury goods, it is, in many instances, a stand-in for emotional well-being, identity, and social validation.