Number of restaurants and cafés continue to grow in Dubai
The total number of new restaurants and cafes opening in Dubai has reached 427 during the first four months of 2019. According to the Business Registration and Licensing sector in the Department of Economic Development Dubai, the number includes 258 restaurants and 169 coffee shops, a growth of 25 percent compared to the same period in 2018. The figures show that at least two restaurants and one coffee shop open daily in Dubai, state news agency WAM reported on Monday.
Dubai remain 1st in doing business in the UAE
A total of 32,256 business licences were issued in the UAE over the first eight months of the year, signalling growing investor confidence in the country. The increase brought to 572,615 the total number of business permits in the country, a growth of 6 percent from 540,359 at the end of December, state news agency WAM reported. Abu Dhabi and Dubai accounted for 70.6 percent of the total number of business licences issued across the country by the end of August (404,492), according to the Ministry of Economy's National Economic Register.
Retail opportunity in Saudi Arabia
In line with its "Vision 2030", Saudi Arabia has set aside about $64 billion to invest in leisure, entertainment, culture, and boost its tourism appeal. In a single year, the kingdom created 20,000 jobs, sprouted 500 entertainment companies and conducted 3,200 events with more than 19 million visitors, the governor of the Saudi Arabian General Investment Authority (SAGIA) Ibrahim Al-Omar confirmed at the World Economic Forum earlier this year.
The GCC's retail sector is forecasted to grow by about 22 per cent to $308 billion in 2023 with the UAE and Saudi Arabia on the lead.
The size of the Arabian Gulf retail sector market is expected to see 4 per cent compound annual growth rate until 2023, rising from $253.2bn recorded in 2018, Dubai-headquartered investment advisory firm Alpen Capital said in its latest GCC Retail Industry report. Saudi Arabia and the UAE, the two largest economies in the Arab world, account for about 77 per cent of sales in the next five years.
The UAE brand value remain number one in the Middle East
The UAE’s nation brand value grew 3 per cent from $707 billion (Dh2.6 trillion) in 2018 to $730bn, according to the Nation Brands 2019 report which analyses countries' brand value. Saudi Arabia also retained its position in 21st place, while the US led the ranking overall, followed by China in second position and Germany in third.
The luxury market in the Middle East and Africa is projected to reach $15.1 billion by 2022
The UAE’s success story in the luxury industry has grown gradually from the OPEC-driven riches of the 1970s, and the rise of a local shopping culture in the ‘80s and ‘90s, to the massive investments – from both local and foreign investors – into luxury retail in the 21st century.
How Dubai aims to attract 25M visitors to expo 2020
The global network, which includes online travel agents, tour operators, hotel groups and airlines, is crucial to Expo 2020 achieving its goal to welcome 70 percent of visitors from outside the UAE and make the next Expo the most international in its 168-year history.
First gifting weekend in Dubai
As the month turns to December and the young and old can start counting down to the winter holidays, the Dubai Festivals and Retail Establishment (DFRE) has introduced the “Gifting Weekend” Set to take place from 12 to 14 December 2019, residents and visitors can revel in the true spirit of the season, as retailers and shopping malls across Dubai stage magical festive activities and events, and launch the most incredible deals and offers ranging from 25 to 75 per cent over the three days.