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UAE Retail to Thrive on High GLA & Strong Tourism Sector
Dec 02, 2008
A new market research report, “Booming Retail Sector in UAE”, recently released by RNCOS says that total retail sales in the UAE are expected to touch US$ 15 Billion mark by 2011. Increasing retail space together with the tourism boom are expected to push the retail sector in the Middle Eastern country.
The rapid growth in the retail space has triggered a surge in retail spending. Gross Leasable Area (GLA) in the UAE is estimated to reach 7.4 Million Sq Meter by 2010 end. In 2007, UAE’s GLA accounted for an estimated 17% of the GCC total, and this share is forecasted to reach 34% by 2010. This rapid growth in retail space shows great potential in the UAE retail sector.
The UAE enjoys the status of a major tourism destination in the Middle East. In fact, it is the top country in Middle East in terms of the contribution of travel and tourism to the GDP (tourism contributes about 23% in GPD of the country). The UAE government is also fostering the sector by investing more in it than any other country in the region. It is expected that approximately 18 Million tourists will visit the country by 2016; and Abu Dhabi alone has plans of investing nearly US$ 140 Billion in the sector to realize the three million tourist goal by 2015. As tourism has a big impact on retail industry, booming tourism market will definitely boost the retail sector of the country.
“Booming Retail Sector in UAE” provides an exhaustive research and rational analysis on the retail market of the UAE. This extensive research will help the clients to identify market trends and evaluate the leading-edge opportunities critical to the success of the retail market in the country. This study gives an overview on various factors driving the retail sector, together with the forces that are blocking the growth of the industry.
The research also features forecast on vital factors for the industry, including market size of the industry, private consumption, tourist arrivals, household consumption, GLA, retail spending and Internet penetration. It also covers forecast of the various sub-segments like food retailing, cosmetics & personal care market, PC installation base and air conditioning market.
For more information visit: http://rncos.com/Report/IM108.htm
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