Middle East Duty Free world's fastest growing, says MEDFA Chief

Colm McLoughlin, Managing Director of Dubai Duty free (DDF), was speaking at the opening of Middle East Exclusive, the region's premier event for the luxury goods, travel, retail and duty free industry, at the Dubai World Trade Centre (DWTC).

McLoughlin, who takes over the presidency of MEDFA at the end of December, said he was very impressed with the international nature of this year's event.

He said: "I really like the idea of national pavilions at the show. The German pavilion, with 13 exhibitors and the Italian regional stand are both excellent."

Chatting to Harry Phelan, Managing Director of luxury tobacco products group, Peterson of Dublin, the Irishman said: "I have known your products since I was four years old. It's good to se you here in Dubai."

McLoughlin said DDF was well on course to exceed its target of $500 million by the end of the year and was looking for further massive growth over the next four years.

He said the development of the new terminal in Dubai would add 10,000 sq metres of retail space within two years with further expansion to a total of 23,000 sq metres two years later.

And he added that DDF would take over the running of duty free at the new Jebel Ali airport.

Air traffic at DDF is expected to increase from 22 million this year to 60 million by 2010 and McLoughlin pointed out that every extra one million passengers earn DDF $ 32 million per year.

More than 100 exhibitors from 25 countries are taking part in this year's Middle East Exclusive and visitor registration is ahead by 56 per cent over last year. 134 decision-makers and representatives from duty -free operators spanning 40 countries have registered as visitors.

Justin Boutros, Managing Director of Middle East Exclusive organisers, Channels Exhibitions, said: "The strong international showing at this year's event reflects the remarkable growth in the regional business and tourism sector and the increasing international interest in the regional retail sector.

"With buyers from more than 60 countries Middle east Exclusive is now established as a key global event for the industry."

Middle East Exclusive runs at the DWTC until Wednesday from 10.30 am to 6.30 pm.