Dubai Jewelry Show to Move to New Venue in 2002 amid Robust Gold Market
Riding the wave of surging demand for gold, International Jewelry Dubai (IJD), which is supported by both the World Gold Council and the Diamond High Council (Antwerp), will celebrate its 8th season in 2002 at Airport Expo Dubai April 23-27, 2002.
The new venue will provide the exhibition with a fresh look and enable exhibitors to explore new opportunities while defining their presence at the show, the organizers said in a statment.
International interest in the exhibition continues to grow each year and the 2002 event is attracting exhibitors from a variety of countries and cities including Belgium, Saudi Arabia, Hong Kong, France, Lebanon, Turkey, Germany and Italy. In addition, numerous UAE jewelers from Dubai, Abu Dhabi and Sharjah have already confirmed their participation.
Recent media reports claim that retail gold jewelry sales in Dubai will cross the $1 billion mark by the end of 2001, providing evidence of the high demand for gold in the region. According to industry sources, the prices of jewelry in Dubai are highly competitive, 73 percent less than European markets and 25 percent less than neighboring Gulf markets.
The World Gold Council reported that gold demand at the end of the second quarter of 2001 was up 15 percent in the UAE over 2000 figures, with demand reaching 60.1 tons at the end of the second quarter in 2001. Kuwait, Bahrain and Oman had similar trends, with demand up eight percent in Kuwait, five percent in Oman and two percent in Bahrain for the same periods. The council attributed the healthy growth in the UAE to the economic impact of high oil prices and continuing promotions.
According to Moaz Barakat, the council's regional director for the Middle East, the IJD is a “key event” that helps contribute to the robust growth of gold demand in the region.
“As a first-class exhibition that draws trade professionals from throughout the region, it offers an ideal opportunity for manufacturers, distributors and retailers to showcase their new lines and increase their links in the market," Barakat said.
In 2001, International Jewellery Dubai attracted 222 exhibitors representing 27 different countries, drawing the participation of 4,167 trade visitors of whom 72 percent were from the Middle East.
A total of 15,872 people visited the show in 2001, including thousands of wealthy private buyers – Albawaba.com
© 2001 Al Bawaba (www.albawaba.com)