Buoyant Chinese, Russian jewel demand at Dubai Shopping Festival
DUBAI, February 4, 2012 – Jewellers spoke of increased demand this year from Chinese and Russians as the Dubai Shopping Festival wrapped up.
The month-long Dubai Shopping Festival ends on February 5.
Dubai Shopping Festival takes place every winter with its array of discounts, competitions, prizes, fireworks and entertainment, attracting holiday makers from around the globe keen on grabbing a bargain.
Footfall was brisk today at the Deira Old Gold Souq downtown, and in the much more modern Gold Souk at The Dubai Mall, a huge shopping centre.
German shoppers were out in force at the Deira Old Gold Souq. One group of German tourists followed a guide brandishing a German flag at the busy souq, resplendent with jewellery shops selling 22-carat and 24-carat yellow gold pieces, as well as 18-carat white gold jewellery with diamonds.
Jewellers said the Chinese had made a big impact at this year’s Dubai Shopping Festival.
“We have seen more Chinese buyers this year. They like 18-carat white gold and diamonds,” said an Indian jeweller at Dhanji Motiram & Sons Jewellers in the Deira Old Gold Souq.
In The Dubai Mall, an Indian jeweller at Marhaba Jewellery said the Chinese were more prevalent this year, often visiting in small family groups, and that they were strong buyers of diamond jewellery.
Several jewellers at the Deira Old Gold Souq and at The Dubai Mall also spoke of active jewellery buying by Russian visitors seeking bargains.
They said demand from Iranian shoppers was down this year, due to Iran’s economic crisis.
Demand from Indian shoppers, both residents of the United Arab Emirates and shoppers flying in from India to take advantage of the competitive prices, remained steady this year, according to Indian jewellers at Al Atheer Jewellery, at the Deira Old Gold Souq.
Indian hawkers openly accosted foreign tourists at the Deira Old Gold Souq with offers to sell them copies of branded watches.