Consumer goods sales soaring
Dubai, December 8, 2007
Consumer goods trade in the Gulf region is passing through a windfall growth phase, say organisers of the International Autumn Trade Fair 2007.
The upswing is driven by the continuing massive retail expansion, growth in regional tourism industry and higher spending capacity,
Al Fajer Information and Services, organisers of the International Autumn Trade Fair 2007, (IATF07), made this announcement at a Press conference unveiling the details of the IATF 07 at a Press conference.
Senior officials of Al Fajer and Hong Kong Trade Development Council said the pioneering consumer goods exhibition had benefited from the overall regional economic growth with increased participation.
This year, the show has 800 participants, including the largest contingent of 300 exhibitors from China followed by 240 companies from Hong Kong under the banner `Style Hong Kong in Dubai.’
Al Fajer Information and Services general manager Satish Khanna said:
“The Gulf Arab spending on consumer goods is estimated to have moved up in tandem with the retail growth in the backdrop of the economic boom with Saudi Arabia and the UAE leading the pack of countries in the region.
“The growth has been driven by higher spending power, a retail boom expanding spending opportunities and population increase.”
Quoting published data from Colliers International, Khanna said that there is an unprecedented boom in the retail space expansion in the GCC and over 16.35 million square metre of Gross Leasable Area (GLA) is expected to be completed by 2010 – an increase of 565 per cent compared to 2000.
The UAE and Saudi Arabia will see the largest increase with Dubai leading with the 4.25 million square metre by the end of the decade compared to 1.37 million square metre in 2006.
“Obviously, these developments are robust indicators for the consumer goods industry and in this context IATF offers a vantage point for global players in this industry to expand presence and penetrate the booming regional market,” he said.
Style Hong Kong in Dubai’ – the largest expo of Hong Kong products showcased in the Middle East will be part of IATF 07 for the fourth consecutive year on a larger scale.
“We are glad to be part of the International Autumn Trade Fair. Over the years, Style Hong Kong in Dubai has grown both in number of participants and visitors attendance. Style Hong Kong in Dubai 2007, the fourth edition of the annual event, will be the largest showing of Hong Kong products in the Middle East. For the region’s buyers, Style Hong Kong is a one-stop opportunity to source Hong Kong’s affordable, international quality lifestyle,” said Jeff Ambjorn, director - Middle East., Hong Kong Trade Development Council (HKTDC).
He said `Style Hong Kong in Dubai ‘ will showcase seven major product and services categories including construction materials, electronics and IT products, fashion and fashion accessories, gifts, home furnishings and hotel supplies, household products, jewellery and watches.
IATF 07 which will be spread across a total of 15,000 square metres has attracted exhibitors from 23 countries and the fair is expected to attract around 17,000 trade buyers compared to 15,436 buyers last year.
The exhibitors at the expo also include 37 companies from Korea, Seven from Malaysia, 37 from Singapore and 32 from the UAE.
This year, the fair will host the official national pavilions of six countries, occupying 75 per cent of the exhibition space.
Libya is participating in the expo for the first time ever with 18 exhibitors. Other countries participating at IATF07 at individual levels include India, Russia, United Kingdom, Indonesia, Netherlands, Germany and others Among the highlights of this year is the presence of Indian companies from Imitation jewellery Manufacturers Association of India, aggressively vyi