Local jewellery market expansion to boost international participation in WJD

The event which will takes place from the 12-16 December at the Dubai International Convention and Exhibition Centre (DICEC), plays host to many of the world's leading manufacturers, wholesalers and retailers looking to capitalise on a booming regional market.

Global fluctuation has led to a surge in the value of gold in the first half of 2006, with the precious metal hitting a 25-year high of USD 700 an ounce in May this year.

While this has pushed overall sales figures below 2005 levels in terms of tonnes sold, the total value is still higher, according to Middle East figures from the World Gold Council.

In addition, sales of diamonds and precious stones are also up significantly, as consumers and companies shift their investments to alternate areas to offset the rise in gold prices. Pearls in particularly have become a high growth product, aided by changes in consumer tastes.

Such change in the region's market has attracted international attention, with a higher number of companies than ever-before participating in Watch & Jewellery Dubai.

"Last year, we were heartened by the industry's response with over 450 exhibitors lighting up the affair, 80% of which were international participants. Dubai's position as a global hub for gold and jewellery - with sales growing by nearly 300 percent over the past decade, from $1.2 billion in 1995 to more than $3 billion in 2005 - is a major draw for international companies looking for insight into the market including Scintilla Monaco, Rosy Blue, Samra, Europearls and Dahmani who are already on board,"

explained Helal Saeed Al Marri, DWTC Director General.

"For many industries, Dubai represents an important meeting point between Europe, the Middle East and Asia, providing a connection between a vast and extremely diverse range of audiences. This is particularly true within the gold and jewellery market, where Dubai is an historic point of trade," he added.

This is one of the reasons why Watch & Jewellery Dubai is proving such a success, as it provides an essential platform to establish business links and detect market trends within the Eastern European, Indian Subcontinent and Far Eastern markets, as well as an entry-point for the Middle East and North Africa," he concluded.

International companies generated significant sales at the 2005 edition of Watch & Jewellery Dubai. Four of the largest exhibitors confirmed business worth over USD 1.6 million by the third day, with groups like Euro Pearls of the UK and V&P Jewellery of Thailand reporting record sales.

This year, many companies have expressed a strong interest in exhibiting in the show's specialists pavilions including the International Colored Gemstone Association (ICA) Pavilion, which will present a variety of exquisite coloured gemstones from all over the world and the Gold Pavilion where many of the region's prestigious gold jewellery manufacturers can be found under the World Gold Council umbrella.

Whilst over in the HRD (Antwrep Diamond High Council) and Dubai Diamond Exchange (DDE) Pavilions over 30 international loose diamond companies can be found including Aspeco, AMC and Lilidiamonds.

There is also high demand from international companies looking to form closer ties with groups with strong tourism and retail profiles, given the important role that visitors play within the region's jewellery trade. New research released by AC Neilson shows that tourists and visitors to Dubai accounted for 52 percent of all gold and jewellery sales in 2005.

An ongoing rise in demand for high-end imported jewellery products will also have a strong impact in the market, according to industry watchers. Italian jewellery manufacturers in particular are returning record numbers, with the UAE set to surpass the US as the world's biggest importer of their products, possibly even by the time of Watch & Jewellery Dubai 2006.

This year's Watch & Jewellery Dubai is set to be the largest-ever, with booked space already exceeding 2005's record 450 exhibitors, and the highest-ever number of international participants.

Watch & Jewellery Dubai 2006 takes place from the 12-16 December 2006 and will be open from 3pm to 6pm to Trade and then from 6pm to 10pm to General Public from Tuesday to Thursday at the Dubai International Convention and Exhibition Centre. On Friday and Saturday, the Show will be open from 4pm to 10pm to Trade and General Public. Children under the age of 16 are not permitted entry to the exhibition at any time.