How will the introduction of value-added tax (VAT) impact the luxury retail sector?
UAE: Dubai Retail
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Interviews & Viewpoints | Colm McLoughlin, Executive Vice-Chairman and CEO, Dubai Duty Free: Interview from The Report: Dubai 2018
Articles & Analysis | Dubai's international visitors to increase retail spending from The Report: Dubai 2018
Although multiple factors are reshaping Dubai’s retail sector, new changes to visa regulations have helped the emirate achieve a significant increase in the number of international tourists, helping it remain a top global destination.
Dubai is one of the world’s leading shopping capitals, and the retail and wholesale sector is the biggest single contributor to the economy. Local iconic malls are constantly reinventing themselves, searching for new brands and experiences to attract global consumers to spend on fly-and-buy excursions. The relationship between retail, real estate, air transport and tourism is key to the...
Dubai saw steady GDP growth of 2.8% in 2017 and this is expected to reach 3.2% in 2018, with an increased drive towards consolidating its position as a knowledge-based economy. The emirate is among the most diversified in the region, thanks to factors such as a highly attractive business environment that has brought in large amounts of foreign investment.
Last year saw Dubai’s retail space grow by 26,000 sq metres, though revenues could remain muted this year as slower economic growth and a stronger US dollar impact trading.
Interviews & Viewpoints | Colm McLoughlin, Executive Vice-Chairman and CEO, Dubai Duty Free: Interview from The Report: Dubai 2016
What improvements can be made to Dubai’s logistics capabilities and infrastructure to better support the growth of the retail sector?