To buy or not Dubai – that’s the question. We say Dobuy!
Dubai’s official strategic goal, reached by the end of 2015, is to focus on the economy’s diversification. Not minding paying, the government is deemed to be investment-friendly and to offer generous economic incentives. This of course attracts new companies which want to capture the market. Especially retailers should take their chances, offered in this new business hub.
Recently published in the “At Kearney 2013 Retail Apparel Index”, the Middle East region can find itself right up with the front runners such as New York, Paris, London or Moscow. The United Arabic Emirates with place 2, Kuwait with place 4 and Saudi Arabia with place 6 proves the importance of this region for the retail industry. In the year 2012, 25 new brands entered the market, which makes Dubai to the worlds forth retailer hotspot (CBRE report).
What makes Dubai so desirable and interesting? Currently there are 10 million visitors per year but Dubai wants to double this number until 2020. This enormous success in tourism is mainly due to its stunning architecture, landscape features and cultural specifics. Where there are tourists in the joyful mood for spending money, there are retailers not far.
Moreover Dubai is a multi-cultural centre with more than 200 nationalities, all coming together to get a slice of the cake, made of wealth, luxury and success. Famous for its visionary leadership “can-do”- attitude, the “pro-business”- government gives easy access to finance and supplies the economy with the best logistic infrastructure and newest communication technologies.
More than 70 shopping malls satisfy almost every customer’s wish. Of course you can find the world’s biggest shopping mall over here. On an area of 1,124,000 m² the “The Dubai Mall” offers a real purchase paradise. Skiing halls, restaurants, cinemas or even surreal attractions such as dinoparks lure the customers to leave all their money in the malls while being on a spending-spree.
If you want to play in this big league, you should join us and together we will follow the region closely.
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