MENA: retail sales are still growing

Retail sales in the MENA region jumped 13.2 percent last year, making it the only region in the world to post double digit growth, accountancy firm Deloitte has said.

In its latest retail report, Deloitte said emerging markets were the most promising for consumer sales and marked the Middle East as a stand-out region.
“While global economic growth is on the mend, most of it is taking place in emerging markets, many of which are experiencing rapidly increasing consumer spending,” said Nasser Sagga, audit partner at Deloitte and Touche.
“Within the Middle East there is a number of emerging economies that meet the criteria of strong growth prospects and good demographics – Egypt and Turkey being two such examples.”

The report identified the 250 largest retailers around the world in 2010, more than 11 percent of which were based in the MENA region.
Despite seeing a significant drop in trade and tourism during the financial crisis, the Gulf remains a key a market for retailers.

A report last year by real estate consultancy CB Richard Ellis found Dubai ranked second only to London in terms of the number of global brands with a presence in the city.
In a ranking of 294 of the world’s top retailers, more than half had a presence in Dubai. “Despite continued uncertainty for some retailers across the world, luxury brand retailers have remained active and were responsible for the most new store openings,” said Peter Gold, head of Europe, Middle East and Africa cross-border retail at CBRE. (Source: ArabianBusiness.com, Photo: hadiyahrewardnetwork.com)

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About Norman Cescut

I love my job because I simply believe in what I do and I love to do it. I love traveling, both for business and pleasure. Meeting different people and cultures has always fascinated me, it enriches me. I love laughing, enjoying good food, my BBQ is highly appreciated by all of them. I love dancing and I love taking portraits. I’m in love with life. . - Owner & CEO at DESITA, the International Retail & Foodservice Consultancy Company specialized in shop concept design, franchising and sustainability. - Vice President, National and International Coordinator of IREF Italia, the European Franchise & Partnership Network Organization. - MENAFA Ambassador to Italy (Middle East and North Africa Franchise Association) - International Franchise Academy member and part of its Knowledge Tank. - Creator & founder of ECOFFEE the sustainable coffee shop project & related sustainable entrepreneurship platform. - Representative for the sustainable business in Italy of HH Abdul Aziz bin Ali Al Nuaimi, aka “Green Sheikh”, member of the Ruling Family of the Emirate of Ajman – UAE.

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