Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Visitor purchases in Dubai expected to reach Dh33b  Join our daily free Newsletter

MENAFN - Khaleej Times - 09/12/2013

No. of Ratings : 0
Add to Mixx!


 


(MENAFN - Khaleej Times) Total sales are expected to increase at 5.7 per cent annually over the period 2013-2017,

Future of retail sector is bright in Dubai as visitor purchases in the Emirate is expected to reach Dh33 billion in the next four years.This was revealed by Sami Al Qamzi, director general of the Department of Economic Development (DED) in his address at the Future Retail conference in Dubai on Sunday.

Total sales are expected to increase at 5.7 per cent annually over the period 2013-2017, Al Qamzi said, adding that retail purchases by visitors are expected to increase at a higher pace than for the resident population with visitor purchases set to reach almost Dh33 billion by 2017, accounting for more than a quarter of total sales.

Speakers at the Future Retail conference lauded the initiatives taken by Dubai to boost the retail sector and urged business leaders and managers to take advantage of modern technology and communication tools to tap into the vast potential that existed in the retail sector.

The 2-day forum is being held under the patronage of Dubai Festivals and Retail Establishment (DFRE), an agency of the Department of Tourism and Commerce Marketing (DTCM) and is supported by the Department of Economic Development.

Future Retail, which focuses on four central themesBusiness Models, Location and Traffic, the Customer Experience, and Marketing and Retention-highlights the latest trends and technology advancements of the MENA retail sector and has attracted speakers and participants from diverse fields including shopping malls, e-commerce, social media and digital platforms.

Based on various sources and DED's own estimates, Al Qamzi said that Dubai's retail sales in 2012 would be around Dh100 billion, and that a conservative estimate for the years up to 2017 would be 4.5 per cent GDP growth per annum, with retail growth and population growth seen at about the same rate.

Highlighting the fact that more than 5.5 million tourists visited Dubai in the first half of 2013, a 11.1 per cent year-on-year increase, he said that Dubai was well on course to achieving its Tourism Vision for 2020 of attracting 20 million tourists and 300 billion dirhams in tourism revenues annually, of which a major share would come from retail sales.

"Hosting Expo 2020 is expected to accelerate tourist inflows further, which in turn will bolster retailing in Dubai. Preliminary assessments say that Expo 2020 could boost tourist arrivals to 25 million. The contribution of foreign visitors to retail is estimated at nearly 20 percent which is a strong indication of the importance of international tourism for Dubai's retail".

Laila Suhail, chief executive officer of Dubai Festivals and Retail Establishment, an agency of the Department of Tourism and Commerce Marketing, and one of the headline speakers at Future Retail, said that the conference came at an exciting time for Dubai and its retail sector as the city's successful bid to host Expo 2020 will give a significant boost to the retail and Dubai's ambition to become the world's number one retail hub. The city is currently ranked 2nd in the world in terms of global brands attraction after London.

During her speech titled "Diversifying Business Growth in Retail", Laila Suhail focused on the rapid growth and development of Dubai, the crucial role played by the retail sector in this regard and the longstanding support of the private sector that has contributed immensely towards making Dubai an international retail hub of excellence.

 






  MENA News Headlines
Apr 16 2014Air Arabia takes over as RAK official carrier ,MENAFN
(MENAFN) Air Arabia said that it will commence flights from Ras Al Khaimah (RAK) early next month, Arabian Business reported. The Sharjah-based carrier said that it will take over from RAK ...

Apr 16 2014Dubai Metro passengers hit 40.5m in Q1 ,MENAFN
(MENAFN) Passenger traffic on Dubai's Metro increased to more than 40.5 million in the January-March period of this year, Arabian Business repoted. The Roads and Transport Authority (RTA) said ...

Apr 16 2014Etihad, Fiji Airways ink codeshare deal ,MENAFN
(MENAFN) Etihad Airways and Fiji Airways have signed a codesharing agreement which allows reciprocal ticket sales between them, Arabian Business reported. Etihad said that the revenue from ...

Apr 16 2014Qatar's investments in infrastructure worth USD182.21 b ,MENAFN
(MENAFN) Qatar is planning to invest USD182.21 billion in infrastructure, avoiding projects in oil and gas sector, in the next five years, Minister of Economy and trade said yesterday, The Peninsula ...

Apr 16 2014Kuwait- GIC chief participates in ABANA Summit panel discussions ,Kuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Shafic Ali, head of the Principal Investments Group at Gulf Investment Corporation (GIC) late Tuesday participated in a panel discussion on (Emerging Trends in ...

Apr 16 2014Today in Kuwait's history ,Kuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) 1961 -- First edition of "Al-Rai Al-Aam" newspaper hit the stands. 1962 -- Kuwait joined the United Nations (UN) Commission on Narcotic Drugs. 1972 -- The Amir ...

Apr 16 2014EU voices concern over increase of terrorist attacks in Nigeria ,Kuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) EU High Representative for foreign affairs and security policy Catherine Ashton late Tuesday "strongly condemned" the abduction of more than 100 school girls in ...

Apr 16 2014Reporters Without Borders says three more pressmen killed in Syria ,Kuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Three more journalists have been killed by gunfire in the Syrian town of Maaloula, north of the capital Damascus, press freedom organisation Reporters Without ...

Apr 16 2014Three-day Sports Media Seminar begins in Doha ,The Peninsula
(MENAFN - The Peninsula) A group photograph of Arab sports journalists seen with TV personality Saad Al Rumaihi, Mohammed Al Malki, President of Qatar Press Sports Committee (QPSC), at Marriott Hotel ...

Apr 16 2014Prisoner's freedom sought for abducted Jordan ambassador ,Arab News
(MENAFN - Arab News) Tripoli: jordan's ambassador to libya was kidnapped on tuesday by gunmen who demanded a radical militant be released from a jordanian jail in exchange for the diplomat's ...

Apr 16 2014Saudi- Qur'an contest to be held in Jeddah next month ,Arab News
(MENAFN - Arab News) The saudi society of the holy qur'an and its sciences (tibyan) is going to hold a qur'an contest involving 60 universities from the public and private sectors next month in ...

Apr 16 2014Saudi- Philippines participates in Riyadh Travel Fair ,Arab News
(MENAFN - Arab News) The riyadh travel fair kicks off here in the kingdom tower on tudesday.the philippines will be represented by the department of tourism (dot) representatives glenn raymond ...

Apr 16 2014Saudi- New arbitration center hailed by leading figures ,Arab News
(MENAFN - Arab News) Lawyers legal arbitrators and businessmen described the decision to establish a saudi commercial arbitration center which was approved by the council of ministers in its ...

Apr 16 2014Saudi- Prices of fruits vegetables in Jeddah rise ,Arab News
(MENAFN - Arab News) There has been a 50-percent increase in the price of fruits and vegetables over the past 10 days due to an imbalance in supply and demand said esmat abuzinada head of ...

Apr 16 2014Private schools urged to use fingerprint systems ,Arab News
(MENAFN - Arab News) A number of public schools have applied the biometrics attendance system on students in line with the ministry of education's new regulation.the new system electronically ...

Apr 16 2014Saudi- Exhibit to showcase 1000 paintings ,Arab News
(MENAFN - Arab News) Arabian wings (aw) will kick off fiesta 1000 a display of 1000 paintings in jeddah on thursday at the al-furusya yacht club. 'the project has received support from different ...

Apr 16 2014Saudi- Technology remains core criteria for university education ,Arab News
(MENAFN - Arab News) Technology has become a core component at higher education institutions said higher education minister khaled al-anqari on tuesday during the opening address of the fifth ...

Apr 16 2014Saudi- Sponsors to pay fines for illegals ,Arab News
(MENAFN - Arab News) The labor ministry on tuesday announced extra measures to stop illegal visa trade and streamline the labor market. a senior official said saudi sponsors involved in the ...

Apr 16 2014Mentally ill kills family of 4 before ending life ,Arab News
(MENAFN - Arab News) A sudanese man his wife and three children were found dead in their apartment in riyadh on monday the police said.'preliminary investigations showed that the 46-year-old head ...

Apr 16 2014'My Saudi posting was a blessing from God' ,Arab News
(MENAFN - Arab News) Outgoing indian consul general faiz ahmed kidwai who is leaving after serving here for three years says it was a 'blessing from god" to have had a posting in saudi arabia.in a ...

more...


 
Click to Apply






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help