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FINANCIAL NEWS
Dubai expects retail to rise 10% during DSF
04 Jan 2012
(MENAFN) Dubai Events and Promotions (DEP), the organizers behind Dubai Shopping Festival expected retail sales to rise 10 percent during its annual shopping festival, Arabian Business reported.
Dubai Shopping Festival will host over 6,000 stores luring tourists and local residents with price-cuts promotions.
DEP said that spend on travel, hospitality and retail reached USD4.11 billion during the 2011 shopping festival, expecting the figure to surpass USD4.4 billion this year.
2011 shopping festival witnessed UAE residents spending USD1.7 billion on shopping alone, surpassing tourists who spent USD1.6 billion.
The Dubai Shopping Festival was launched in 1996 as part of a wider government initiative to boost the Gulf emirate’s retail and tourism.
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