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Dubai to register a GDP of US$ 108 billion by 2015
13 Aug '08
2 min read
The UAE, as a trading hub for the Middle East is experiencing astounding growth in the clothing and fashion industry. This significant growth is backed by the availability of large disposable income, surge in the number of tourists and growth in retail space.
The UAE alone is predicted to spend US$ 9 billion on garments and textiles by the end of 2009. This dominance in the industry is mainly attributed to the economic boom in the emirate of Dubai, which serves as the heart of the Middle East fashion market.
Expected to register a GDP of US$ 108 billion by 2015, Dubai has managed to strengthen its strategic location by pursuing a free and balanced economic policy, consequently contributing significantly to the productive reputation of the UAE.
Ajman, yet another emirate of the UAE, has also started to make its mark in the fashion and apparel industry with an ambitious free zone project. Sheikh Mohammed bin Abdullah Al Nuaimi, General Manager of Ajman Free Zone (AFZ) stated to the Oxford Business Group that AFZ has already attracted hundreds of foreign investors and is ranked first amongst the world's free zones in the number of ready-to-wear garment factories. The factories have started exporting to the GCC countries, the US, Europe and Canada.
The UAE economy is booming with lucrative potential opportunities for interested investors, traders and retailers. Motexha, the Middle East's largest trade event for the garments, textiles, leather and fashion accessories sector is the only available platform for the fashion and apparel sector investors interested in availing the growing opportunities.
The UAE alone is predicted to spend US$ 9 billion on garments and textiles by the end of 2009. This dominance in the industry is mainly attributed to the economic boom in the emirate of Dubai, which serves as the heart of the Middle East fashion market.
Expected to register a GDP of US$ 108 billion by 2015, Dubai has managed to strengthen its strategic location by pursuing a free and balanced economic policy, consequently contributing significantly to the productive reputation of the UAE.
Ajman, yet another emirate of the UAE, has also started to make its mark in the fashion and apparel industry with an ambitious free zone project. Sheikh Mohammed bin Abdullah Al Nuaimi, General Manager of Ajman Free Zone (AFZ) stated to the Oxford Business Group that AFZ has already attracted hundreds of foreign investors and is ranked first amongst the world's free zones in the number of ready-to-wear garment factories. The factories have started exporting to the GCC countries, the US, Europe and Canada.
The UAE economy is booming with lucrative potential opportunities for interested investors, traders and retailers. Motexha, the Middle East's largest trade event for the garments, textiles, leather and fashion accessories sector is the only available platform for the fashion and apparel sector investors interested in availing the growing opportunities.
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