EXPERIECE DUBAI

Dubai is known as the “gateway to the world” with its ultra-modern infrastructure, extensive air transport network and a highly diversified economy. Home to more than 200 nationalities, this vibrant, cosmopolitan city is a distinct destination that combines the best of modernity and the allure of centuries-old traditions.

Dubai’s exceptional stature in the global jewellery industry is perhaps best represented by two unique aspects in its history – its pearling traditions and its world-renowned Gold Souk (marketplace or bazaar). Today, Dubai is also known as an international diamond trading hub, with trade rising more than six folds from AED 13.2 billion (US$3.6 billion) in 2003 to AED 84 billion (US$23 billion) in 2019, according to Dubai Multi Commodities Centre (DMCC).

During the first half of 2020, Dubai’s non-oil trade (exports and imports) reached AED 550 billion (approximately US$148.5 billion) despite the pandemic. Gold, diamonds and jewellery continued to top the list of commodities at a value of AED 140 billion (approximately US$38 billion), accounting for 25% of the total.