DSS sees $816m revenue
Dubai, June 17, 2007
The consumer spending during this Dubai Summer Surprises (DSS) is likely to hit an all-time high of Dh3 billion ($816 million).
With only days left before the tenth edition of DSS begins, different economic sectors are gearing up for what is slated to be the biggest edition of the annual summer event held yet.
Most of the hotels are witnessing high occupancy rates, said a top official, adding that this DSS will net record revenue for retailers.
A change in strategy is expected to attract an increased number of regional and global visitors in the coming years.
“Consumer spending in DSS 2006 reached Dh2.57 billion, with per visitor spending of approximately Dh1370.67. The corresponding figure for DSS 2005 stood at roughly Dh1139.'
Increasing visitor numbers and per visitor spending have resulted in an unprecedented growth in different economic sectors during summer, he added.
The coming edition of DSS is readying to set the record compared to past editions in terms of visitor arrivals and expenditures with around 2.16 million visitors expected to spend about Dh3.08 billion.
The DSS office is expecting an increase of 15 and 20 per cent sales this year. Emerging markets are also contributing to the increasing number of visitors to Dubai.
“Regions like the Far East, where the DSS recently completed a road show, accounted for a significant number of inbound tourists throughout last year. In the first half of 2006, Far East hotel guests in Dubai reached 152,015 whereas in the second half of the year, that figure rose to 177,285,” he added.
While DSS aggressively markets itself in emerging markets, regions like GCC have been regular visitors to Dubai since the event's inception. In 2006, the number of hotel guests from the GCC reached 819,310, accounting for approximately 15 per cent of the total number of hotel guests that year.
While the GCC guest numbers during the first, second, and fourth quarter of 2006 averaged 183,732, the third quarter witnessed the highest number of GCC hotel guests in the months of July, August, and September – 268,112.
The jump in visitor numbers is generally regarded as the result of DSS-related attractions and the numerous promotions offered by the airline, travel and tourism, hospitality, and the retail sectors in the summer.
The expected increase in travellers augurs well for Dubai's leading retailers. The emirate's 1.37 million square metres of retail space in 2006 took the chunk of the expenditure during DSS 2006, accounting for over 50 per cent or Dh1.35 billion of total consumer spending. TradeArabia News Service