Independent Swiss watchmaker MB&F’s founder Maximilian Busser sold 46 ultra-luxury watches in the Middle East, with some of those worth as much as $240,000. Exports of Swiss timepieces to the Middle East jumped 53% in 2024 against a global decline of more than 2%, according to data from the Federation of the Swiss Watch Industry. The boom in Dubai and other parts of the Gulf has been fueled by wealthy locals and expatriates who’ve flocked to the region lured by the promise of tax-free income