An estimated two billion dollars are spent annually on sunglasses, contact lenses, frames and eye-care products in the Gulf region, where sunny weather and high purchasing power keep the demand for branded optical and ophthalmic products high year round.
According to industry estimates, Saudi Arabia ranks first among Gulf Cooperation Council (GCC) states in this market, with annual sales of $800 million. The UAE captures 15 percent of the regional eyewear and eye-care market, with annual sales reaching $300 million. Annual sales in states such as Bahrain, Qatar, Kuwait, Oman and Qatar range between $120 to $150 million.
Although it does take a little bit of time for the latest optical designs to reach the Gulf from the streets of Milan or Paris, the regional markets are well represented by leading names from around the world.
An exhibition of optical products is held every two years in the Dubai World Trade Center, further boosting the market. The Fifth International Middle Eastern Optical and Ophthalmic Exhibition is scheduled to be held February 14-17, 2002. Over 100 companies from 23 states from the Middle East, Europe, Canada and Australia have reportedly registered to participate in the event. — (MENA Report)
© 2001 Mena Report (www.menareport.com)
