Abu Dhabi to host jewellery and watch show
Abu Dhabi, April 19, 2008
After a series of successful watch and jewellery shows around the world including prominent industry events in Paris, London, Toronto, Vancouver, Kobe, Tokyo and New Delhi, Reed Exhibitions will be staging the International Jewellery and Watch Show Abu Dhabi (JWS).
The event is scheduled to take place at the Abu Dhabi National Exhibition Centre (ADNEC) from October 22 to 26, 2008.
The Abu Dhabi event heralds a worldwide growth in the watch and jewellery business. The global market for watches itself is projected to grow strongly to exceed Dh121 billion ($32.9 billion) by 2010.
“Consumers have moved away from making watches a-once-in-a-lifetime purchase to owning an array of watches to harmonize with their outfits, leisure pursuits and social status,” said director of Consumer Shows, Reed Exhibitions Middle East, Suman Manning.
Manning noted that the demand for luxury watches is growing at an impressive CAGR of four per cent through to 2010 despite facing stiff competition from electronic gadgets such as cell phones, MP3 players, iPods, Palm Pilots, digital radio, and other devices that display time.
“The overall market for watches has managed to post a positive growth owing to increasing demand for luxury brands in the high-end market segment despite low volumes,” she observed.
JWS is expected to showcase the most desirable Jewellery and watches in the world’s richest city that is responsible for more than 90 per cent of the UAE’s oil-production.
Abu Dhabi possesses the fourth largest oil reserves in the world. According to media reports, Abu Dhabi has an investment fund exceeding $800 billion with more than $140 billion in government and privately-funded development projects currently underway in Abu Dhabi.
Middle East Customers' demands for watches vary significantly.
“To meet the ever-changing demands, watch companies are regularly introducing new brands with new designs of watches under sports, luxury and many other categories and product differentiation is vital as regional consumers are discerning,” added Manning. – TradeArabia News Service
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