UAE is a multi-billion dollar market for electronics
High purchasing power in the country helps boost electronics shows
Abu Dhabi: UAE is a multibillion dollar market for electronics and a hub for the most updated and upgraded technologies which are first launched in country before being launched anywhere, Neelesh Bhatnagar, CEO of Emax, told Gulf News.
“The UAE is the premium place for launching new items and products whether for people in the country or for re-export to other markets,” said Bhatnagar.
He said that increasing demand for new high technology items keep cogwheels of this market running fast.
Bhatnagar said the recent move by His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, to have GITEX at Dubai World Trade Centre (DWTC) in April and October, aims to decrease traffic and rush to the exhibition.
“The breakdown of GITEX into two seasons: April and October is brilliant step because many people will be coming in April to benefit from the best bargains on the latest electronic products and gadgets from the region’s power retailers before they travel in May, June and July to their countries,” said Bhatnagar.
He said that the spring version runs from April 3 to 6 and will offer the best bargains on the latest electronic products and gadgets from the world’s leading tech brands.
Salim Ziade, general manager at Hewlett Packard, said that the UAE is a leading electronics retail market. “Being one of the fastest growing markets in retail, Abu Dhabi presents the perfect platform for us to reach our customers,” Ziade added.
Khalfan Sa’eed Al Ka’abi, First Vice-Chairman of Abu Dhabi Chamber of Commerce and Industry (ADCCI) said that the consumers in the UAE have a high purchasing power due to the high GDP of the country.
“The GDP of the UAE is Dh1.4 billion and this is reflected on the purchasing power of the people whether Emiratis or residents,” said Al Ka’abi.
He added that an upswing in demand for electronics is attributed to strong household consumption of Emiratis, expatriates and inflows of tourists to the country.
A recent report by Dubai Chamber of Commerce and Industry showed that 40 per cent of imported consumer electronics find their way into the domestic market.
