DUBAI, 27th November, 2016 (WAM) — As part of its efforts to promote Dubai as a global hub for Chinese businesses and investors, the Dubai Chamber of Commerce and Industry, DCCI, has participated at the recently concluded Hamburg Summit 2016 in Germany.
Held under the theme, “China Meets Europe”, the summit highlighted the rise of China’s new middle class and focused on how this trend is changing the consumer landscape.
Hamad Buamim, President and CEO, Dubai Chamber, explained during the summit the significance of income growth in the country and how it may impact Dubai-China trade in the future.
“As Dubai’s top trade partner, China represents tremendous trade and investment potential for the emirate. A new generation of Chinese consumers is fuelling private consumption in key sectors such as tourism, real estate, retail and finance. There is plenty of scope for Dubai to take advantage of this trend as the emirate has a lot to offer within these key sectors,” he said.
Buamim said that Chinese visitors to Dubai is predicted to surge 98 percent by 2023 to 545,000, noting that this figure could potentially be even higher, given the recent decision to allow visitors from China to obtain visas on arrival. He added that Chinese tourists in Dubai are projected to spend US$781 million by 2023, up from $488 million in 2013.
He said that the opening of Dubai Chamber’s first representative office in China last month was a testament to its efforts to improve trade relations between the country and Southeast Asia.
“Recent economic conditions have led many Chinese business and investors look closer at Dubai and the growth prospects it has to offer. Dubai Chamber will continue to play an active role in identifying synergies and trade and investment opportunities in China,” he added.