Dubai, the city that can never have enough of the “biggest in the world” accounts for about 30% of the demand for luxury goods in the Middle East.
The city also takes 60% of the market share in the UAE, according to a report by Bain & Company, the Gulf Business reports. One business center, the grandiose Dubai Mall, accounts for about one-half of all the luxury goods in Dubai.
The city attracts shoppers from Russia, India, and Africa, as well as its own citizenry. Russians make up the largest contingency of foreign shoppers in Dubai. What is next for glitziest city of the UAE?
Realizing the potential that the retail sector offers, Dubai had announced plans last month to launch the new Dubai Design District, which aims to cater to the needs of the fashion industry and is in line with the objectives of the Tourism Vision 2020.