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Sun 16 May 2004 04:00 AM

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Dubai matches Singapore

Dubai is on a par with Singapore in terms of electronics consumption, says Oasis Enterprises. The JVC distributor currently values the Dubai electronics market at $US4.1billion.

Dubai is on a par with Singapore in terms of electronics consumption, says Oasis Enterprises. The JVC distributor currently values the Dubai electronics market at $US4.1billion.

Oasis Enterprise’s executive director, Hisham Abdullah Al Shirawi, says Dubai’s investment free-zones and targeted approach to tourism is driving the success.

“The emirate has targeted tourism as a major contributor to its GDP, as its balance of trade is beginning to receive less income from oil production. The effect from this is an increase in the number of business and tourism related visitors to the emirate with a knock-on effect in retail spend,” he claims.

With its central geographical location and international airports, the UAE also enjoys the benefits of economic growth in neighbouring countries, according to Al Shirawi. Dubai’s position as the lynchpin of the Middle East, West Asia, Central Europe, Africa and the Mediterranean, brings in increased business and tourism to the Emirates. Even transit traffic has a noticeable effect on electronics sales, as travellers take advantage of duty-free facilities in UAE airports.

The leap in business and tourist travellers had led many multi-national companies to re-locate to Dubai and set up regional offices. Furthermore, this resettlement brings expatriate workforces who are prepared to spend on electronics goods.

“The net effect is the market is booming and electronics brands are looking at Dubai as being a more influential trading hub than Singapore right now,” says Yoshiki Matsushima, JVC’s general manager sales.

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