An Emirati Eye: Aida Al Busady On The Power Of The Female Dirham
Aida Al Busaidy notices yet another female-led revolution – one in which she’s personally fully invested
When musing over the word ‘luxury’, one’s natural inclination is to think big. Flashy. Loud. Overt. Something that turns heads. That ensures you become the most talked about person in your social sphere. But in the past couple of years, we have started to see a paradigm shift away from this noisy definition. Now, women are putting their money in discreet investments. Ticking off dream destinations. Micro-luxuries. Legacy brands. Prioritising longevity.
A study by Visa found that the millennial segment dominates travel spend and in the GCC, this segment of 25 to 40-year-olds are the most active spenders overall. Our region is full of young, educated, empowered women who are not chasing logos — we are investing in self-curated worth, securing our identity and our future. There’s a mindfulness in
our spending.
My mind-set has also changed. For the past five years I have made a noticeable change to my spending habits. The date is key; it was during the pandemic that I took a chance and leapt into investing in real estate. Then I realised diversifying my portfolio meant I needed to look at how my income generators could support my value creation. The global shake-up of what was considered ‘normal’ made me understand what I needed was to change my mindset. I needed more than simply overflowing closets.
So essentially, I started becoming the women I admire, who prioritise return on investment, and value over conspicuous consumption. I became more discerning.
I should clarify that I am not completely stopping my spend on tangible luxury goods, but am being more selective when picking brands; timeless classics that you love are always a good addition to one’s portfolio.
The power of the female dirham is real, and everyone is now taking note. For Middle Eastern women, the focus is on quiet confidence over statement-making. It is about personal growth, not external validation. Looking to the future rather than wallowing in nostalgia.
A few stats before I sign-off. In 2024 Bain Consultancy reported that personal luxury goods saw a two per cent decline globally, while experience-based luxury grew by five per cent. Weddings, retreats, as well as mindful travel (think Eat, Pray, Love) all spiked. Additionally, women globally control around $31.8 trillion and will manage an estimated 75 per cent of discretionary spending within five years*.
The role of women in the overall global economy is changing — as is the way women are thinking about how to spend their own money. Vive la révolution.
Source: NIQ +BCG GLOBAL