Dubai set to lead Gulf retail sector by 2009 - UAE


MENAFN - 24/10/2006

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(MENAFN) Dubai is expected to top the Gulf region's retail spending by 2009, despite its population being a fraction of neighboring Saudi Arabia, Gulf News reported.

Industry analysts say retail spending in the emirate will hit $7.6 billion in 2009, compared to Saudi Arabia with $6 billion and Abu Dhabi at $1.9 billion.
A large part of Dubai's spending will come from tourists, making up for the emirate's huge population deficit to Saudi Arabia.

An official said that Dubai will take a lead that may be impossible to overtake, and it is expected to have higher retail spend than Saudi Arabia, despite having a population one-twentieth the size.

Most of this spend will be generated from the expected 15 million tourists.

The official also highlighted industry figures showing demand for at least 400 new malls across the Middle East, North Africa and South Asia in the next 10 years.

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