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Dubai shopping festivals promote retail tourism |
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6/17/2006 9:07:14 AM |
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Dubai: Shopping festivals are playing a major role in developing the region's retail-propelled tourism and reducing economic dependence on oil, according to organisers of the upcoming Dubai Summer Surprises (DSS) shopping initiative.
They claimed that in its eight years of existence DSS has grown to become one of the biggest fiestas in the Middle East, attracting a greater number of high-spending tourists every year. When it began in 1998, the ten week DSS attracted 600,000 visitors. In consecutive years, from 1999 to 2005 the number surged from 750,000 to 1.51 million people and spending hit Dh1.72 billion.
Shaikh Ahmad bin Saeed Al Maktoum, President of Dubai Civil Aviation, Chairman and Chief Executive of Emirates Group and Chairman of DSS Supreme Committee, said the importance of the DSS as an economic activity both from the point of view of trade and tourism is significant.
"A large part of the credit for diversifying Dubai's economy should go to the DSS," he said. "This year too, DSS is expected to build on its previous success. Dubai is growing at a fast pace and keeping its momentum is vital. I am sure in years to come, DSS's role will continue to expand as a major economic indicator in the region." Shopping malls in the region have continued to stimulate interest in the DSS through new activities and sales.
In 2004, the mall space rose to cover over 630,000 square metres. Studies have shown that by 2009 Dubai will have a third of all the shopping malls in the Gulf. And the spending on this industry will go up to $7.6 billion (Dh28 billion).
A big feature of every shopping event in Dubai is the promotion devised by the Dubai Gold and Jewellery Group to prompt demand.
This consistent interest by the industry has contributed to annual consumption of gold rising by 21 per cent as compared to 2004. Correspondingly, the sales of jewellery have risen from Dh5.1 billion in 2004 to Dh6.2 billion in 2005.
The 10-week long DSS, which opens with the Ice Surprises week on June 21, will continue with the weekly themes, including International Food Surprises, Adventure Surprises, Cartoon Surprises, Nature Surprises, Arts Surprises, Knowledge Surprises, Flower Surprises, Heritage Surprises, and concludes with Back-to-School Surprises on September 1. |
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