Font Size

- Aa +

Sun 9 Nov 2014 11:06 AM

Font Size

- Aa +

UAE among world’s top 5 for gold jewellery consumption

Dubai is among world’s top three trading hubs for gold

UAE among world’s top 5 for gold jewellery consumption
(Getty Images)

Gold jewellery consumption in the UAE is estimated at $2.5 billion, making it one of the top five in the world amongst China, India, the United States and Russia, according to the hosts of the inaugural Middle East Gems and Jewellery Forum.

As a hub for luxury goods, Dubai commands around 30 percent of the luxury marketing in the Middle East and around 60 percent of the UAE’s luxury market.

Organisers of the event also said Dubai is one of the world’s top three trading hubs for gold, diamonds and gemstones, and that the UAE is the number one jewellery consuming nation in the Middle East.

Sheikh Ahmed Bin Saeed Al Maktoum, CEO and chairman of The Emirates Group and chairman of Dubai World, will be guest of honour at the invite-only event, which takes place today, November 9, in the Almas Tower in JLT.

For all the latest retail news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.