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Innovation key to Mid East's luxury goods market says jewellery designer
- United Arab Emirates: Tuesday, August 03 - 2004 at 12:47
- PRESS RELEASE
The growth of tourism and travel in the Middle East is increasing demand for luxury goods in a market that, according to Monte Carlo jeweller, Fredric Brega, is more open to new ideas than other regions.
He said: "The Middle East market is strategic to us as it has always been open to new ideas in fashion and we are a company which believes constant innovation is necessary to avoid saturation of the market. It is becoming an even more important market since growth in tourism and travel has boosted demand for high quality jewellery in both duty free outlets and in exclusive jewellery shops in major cities."
Last year the Middle East saw visitor numbers up 10.3 per cent to 30.4 million with intra-regional tourism accounting for 42 per cent of tourist arrivals while global travel actually fell by 1.2 per cent.
The decision of more Arab tourists to spend holidays in neighbouring countries is particularly significant, according to the World Tourism Organisation, as they spend an average $1,874 per trip compared with a European spend of $936.
Brega added: "This is our first visit to Middle East Exclusive and we see it as the place to establish our designs in a sophisticated market that appreciates creative innovation."
Middle East Exclusive, organised by Channels Exhibitions, runs from November 29 to December 1 at the Dubai World Trade Centre.
Justin Boutros, Managing Director, Channels Exhibitions, said: "Travel and tourism has made the regional market one of the most lucrative and fast growing in the world with a large percentage of high net worth individuals who have a taste for exclusivity.
"Middle East Exclusive provides retailers and wholesalers with an exhibition of the latest designs and creations in a range of products from jewellery to luxury confectionery including international brands and local merchandise."
Middle East Exclusive is held under the patronage of Sheikh Ahmed bin Saeed Al Maktoum, President of the Department of Civil Aviation, Dubai and Chairman of Emirates Group. It is supported by Dubai Duty Free and the Middle East Duty Free Association.
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Notes and media contacts
For further information: Channels Exhibitions, P O Box 55354, Dubai, UAE. Tel: +971 4 282 4737; Fax: +971 4 282 5757;Or,
Sony Elias, MCS/Action Tel: +9714 390 2960; Fax: +9714 390 8161;
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Christine H. Andersen, Assistant News Editor
