Dubai to host World Retail Congress 2016
Dubai has won the bid to host the 10th World Retail Congress 2016 in the United Arab Emirates, an announcement that came during the final day of the 9th Congress in Rome, which was attended by Dubai Chamber of Commerce and an industry-led trade mission.
This is the first time that the event will be held outside Europe.
A Dubai Chamber report reveals that an apparel and footwear retail outlets are expected to lead the growth in the retail sector in the medium run and will achieve compound annual growth rate of 6.8 percent until 2019, while the expectations for the electronics and appliance, health and beauty, home and garden products expect a compound annual growth rate of three to six percent during the same period.
Among the factors that influence in the growth of the retail sector in Dubai are the steady population growth, rising salaries leading to high consumer spending, cultural diversity, tourism growth, continuation of infrastructure development projects and the establishment of more commercial centers that are supporting the retail sector development.
The Dubai Chamber delegation included H.E. Juma Mohammad Al Kait, assistant undersecretary of UAE Ministry of Economy; H.E. Majid Al Shamsi, chairman, Union Coop; Adel Al Zarouni, managing director, Rivoli Group LLC; Ahmed Galal Ismail, CEO of Majid Al Futtaim Ventures; Khalid Al Falasi, general manager, Union Coop; Mohi-Din BinHendi, chairman of BinHendi Enterprises; and Vino El Khatib, chief marketing & brand officer for Majid Al Futtaim Holding.