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Channels Exhibition, organisers of the show, said the MEE Exhibition will provide an unrivalled opportunity for decision-makers from the wider Middle East region to network and source new products in an environment that attracts top-level international exhibitors. Significantly, many companies will be exhibiting products - ranging from Paris Hilton Fragrance to premier destination products previewed in Cannes two weeks ago - for the first time at the exhibition.
The exhibition will bring into focus the Middle East's luxury goods sector, which has witnessed exponential growth in the past few years, driven by a buoyant global economy and rapid developments in retail trade. According to Verdict Research - a UK-based research company, spending on luxury branded products globally is set to reach $450bn by 2012 as the rate of growth in the sector will double in the next five years.
According to Swedish industry analyst group Generation DataBank, it is expected that the Greater Middle East market, which encompasses Africa and the former CIS states, will see an average growth of 12.2% per annum over next five years in the Duty Free and Travel Retail Sales. The overall growth is forecasted at 59% by 2011 compared to 2007. When compared to the global average of 7.6% it is clear to see that an extremely positive future lies ahead for the Middle East.
Justin Boutros, Managing Director, Channels Exhibitions, said:
"Amidst the impressive levels of growth in the luxury goods sector, both globally and regionally, it is vital that companies involved in the industry are able to make contact with the right people to promote their services and discuss future trends. The Middle East Exclusive Exhibition is the right platform to serve the hugely dynamic region and the burgeoning luxury goods market and we are delighted with the response received so far."
He added: "The exhibition will bring together international and regional representatives of the duty free, travel retail and luxury goods industry and will give a unique opportunity to meet potential key partners. There is no doubt that the growth of the luxury goods business throughout the Middle East is going to outperform the average global growth, going by the positive growth in excess of 15% in the last year. This exhibition will help bridge the gap between the suppliers and the inherent potential in the region and serve as the launch platform for many products."
Mr Boutros said the exhibition enjoys the support of the Middle East Duty Free Association (MEDFA) and will see participation from its long-term supporter, the Dubai Duty Free. "While the GCC states are famed for the spectacular development of world-class shopping destinations, duty free outlets are also emerging as a major force in the luxury branded goods sector. We are happy to have a large participation from the duty free outlets at the expo," he said.
Dubai Duty Free, which will participate in a big way at the expo, has experienced robust sales growth in the first nine months of 2007, registered an impressive 26% rise in sales compared to the same period last year. DDF recorded sales of $616m by end-September, with perfumes sales representing an increase of 25 per cent over the last year. The company expects to touch sales of $1bn by end-2008.
This year, Middle East Exclusive Exhibition will also form part of the region's annual Duty Free Week, which provides buyers and suppliers alike with an unrivalled opportunity to network professionally and socially. The week starts on November 30 and continues until December 1, with the MEDFA conference.
It will be followed by the Dubai Duty Free World Cup Golf Tournament, scheduled to take place over two championship courses. The tournament, to be held on December 2 and 3, 2007, is one of the most awaited golf tournaments within the Duty Free Industry.
Anne-Birte Stensgaard, Senior News Editor
