DSF gives Dh15b boost to economy

posted on 04/01/2012: 63 views

Two days before the 17th edition of Dubai Shopping Festival kicks off, the Dubai Events and Promotions Establishment (DEPE) on Tuesday claimed that the last year's edition had given a Dh15.1-billion boost to the emirate's economy.

This, the DEPE said, was revealed by an in-depth market research study ever conducted on the DSF. The study showed that the boost to Dubai's economy from retail, travel and hospitality spend during the festival totalled Dh15.1 billion — Dh5.9 billion spent by regional and international visitors, and Dh6.6 billion spent by residents of other emirates.

Commissioned by the DEPE and conducted by the leading global research firm YouGov, the study surveyed 898 international visitors and 1,981 UAE residents throughout the festival period (January 20 to February 20, 2011). The research was designed to pinpoint key findings on spending habits, participant engagement, visitor profile, and retailer perceptions of this annual shopping event that, since 1996, has earned its place as the most anticipated festival in the region and garnered global acclaim.

Sheikh Ahmed bin Saeed Al Maktoum, President of Dubai Civil Aviation Authority, Chairman and CEO of Emirates Airline and Group and Chairman of Dubai World, said: "Thanks to Dubai's ongoing investment in infrastructure and its commitment to building a world-leading retail environment, the emirate has become a magnet for businesses and visitors from around the world. The growing festival and events sector only serves to further strengthen Dubai's offering. Since 1996, the DSF has been a success story for the emirate, and has grown to become a brand which carries Dubai's name across borders.”

Throughout the month-long festival in 2011, just under 4 million people participated in DSF-related activities and events. A total of 884,660 regional and international visitors came to Dubai during the DSF period, with the largest proportions coming from India, UK and Saudi Arabia (11 per cent, 8 per cent and 8 per cent respectively), with 3.1 million UAE residents also participating. The festival's continued strength was echoed by data from retail participants, with 60 per cent of participating retailers indicating that consumer traffic was ‘the same as' or ‘better' than during DSF 2010.

Laila Suhail, CEO of Dubai Events and Promotions Establishment, said: "Over the last 16 years, The Dubai Shopping Festival has played a central role in establishing Dubai as a world-leading retail destination. The 2011 research findings indicate just how important it is to supporting and fostering our economic growth and creating jobs in the retail and events sectors.”

Joao Neves, Regional Director for YouGov said about the research: "Given the sheer scale of the DSF event, the diversity of its participants and the wide-ranging scope of the research, this study presented us with an interesting challenge from the outset.” – Khaleej Times

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