Building up on the luxury theme, the International Jewellery and Watch Show (JWS) Abu Dhabi will get a new dimension next year with the launch of another exhibition, Luxury Gift Show, which will run alongside the JWS in March 2013, specialized in high end and innovative design products, objects and concepts for personal use, special occasions, weddings and homes.

Speaking on the scope of the event, Ara Fernezian, Divisional Managing Director at Reed Exhibitions said: “The GCC luxury market has continued to retain its luster despite challenging economic conditions. As a business hub and fast growing city, Abu Dhabi has emerged as a key market for luxury goods. It, therefore, offers the ideal gateway for the Luxury Gift Show “

“We are extremely pleased that Reed Exhibitions has decided to add this extension to the already thriving International Jewellery and Watch Show. ADNEC offers world-class facilities and unlimited support for show organisers wishing to bring new events and exhibitions to Abu Dhabi, from Advantage Abu Dhabi to Tailor-made marketing support, we will help organisers ensure new shows become a success in the region.” said Humaid Al Dhaheri Chief Sales and Marketing Officer of the Abu Dhabi National Exhibitions Company.

The inaugural session of the Luxury Gift Show could not have come at a better time considering the renewed vigor being experienced by the GCC luxury market. Analysts are expecting the pace of growth in the regional market to pick up considerably in the next few years as luxury buyers continue to loosen their purse strings. In view of the optimistic outlook, luxury brands have set sights on improved performance in the region. British brand Burberry was quoted in the media last year as stating that the Middle East had emerged as one of its strongest markets, helping it boost global sales by 30 per cent.

As demand picks up momentum, Global business consulting firm Bain & Company expects that by 2014 new consumers in emerging markets, including the Middle East, would force luxury brands to become more nimble in merchandise selection and customer experience. It has also identified Dubai, Abu Dhabi, Doha and Kuwait City as key luxury cities in the Middle East.

The high growth prospects for luxury retail is not surprising considering the significantly high disposable income enjoyed by the residents as oil prices boost the GCC’s economy.

In fact, the GCC has one of the highest number of high net-worth individuals in the world. The resulting growing wealth is constantly contributing to improved lifestyle of consumers in this part of the world, fuelling demand for luxury retail.

The region also has a young population base, most of them below 30 years of age, who are passionate about new gadgets and luxury goods. Besides, the demographic characteristic is a largely urbanized consumer class, which acts as a robust demand driver. The GCC is also home to more than 16 million expatriates from around the world with strong aspirations and preferences for international luxury brands.

With so much going in favour of luxury retail, the Luxury Gift Show is looking to attract massive consumer interest at its inaugural session next year. With the presence of major luxury brands and luxury collections, the exhibition is being designed to offer unique business opportunities for all stakeholders in the industry.

Abu Dhabi offers the show a perfect venue considering that the UAE remains the predominant destination for luxury retailing in the region. The country has seen substantial investments in the development of world class infrastructure, tourism, and hospitality sector. As a result, the UAE is a hot spot for leisure travelers and international shoppers.

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