The Dubai Department of Economic Development issued 14,185 business licenses last year, a 13% rise on 2006. Most licenses were for commercial trading establishments (11,344), followed by those for professionals (2,408), tourism businesses (239) and industrial companies (194). The department also issued 637 Intlaq licenses to UAE nationals who were setting up small, home-based businesses. License renewal in 2007 was up 138%, hitting 65,888 licenses compared to 27,738 in 2006.

The hotel inventory in the UAE is expected to triple to 180,000 rooms by 2015 from 60,000 currently, according to available statistics, while room shortage is pushing rates up making Dubai, the country’s commercial capital, one of the most expensive in the world.

Advertising spend in the UAE increased from $869m in 2005 to $1.3bn in 2007, the highest in the Middle East, according to Spencer Felix, exhibition manager for Signage, Imaging and Media (SIM 2008). The bulk of the money - about 64% - went to Arabic and English newspapers. Television accounted for 16% while magazines got 13% and predicts that advertising spend in the UAE will exceed $2bn by 2010.

Ref: Arabian Business 

The value of the Middle East toy market is estimated at Dhs5.5bn ($1.5bn) with 11.8% annual growth, according to an executive who spoke at the Middle East Toy Fair. Meanwhile, the average yearly toy expenditure has jumped to $327 per child in the Middle East, second only to North America, according to Epoc Messe Frankfurt, organizer of the conference.

Airport development in the Middle East, Africa and South Asia has reached a new high, with projects and expansions across the region now valued at over $68 billion.

The Gulf countries account for $43 billion of this growth with $21 billion worth of development now underway in the United Arab Emirates. Other important airport developments in the region include Bahrain International Airport at $815 million, Kuwait International Airport $2.1 billion and Queen Alia International Airport, Jordan at $600 million.

Reference: MENAFN

The Saudi Arabian insurance industry, which is currently worth around $1.8 billion annually, is expected to swell to $8 billion within 10 years, according to industry experts.

The Saudi Arabia Monetary Agency (SAMA) data show that the insurance market grew 35 per cent in 2006 alone. However it was health insurance that attracted the most attention, representing 32 per cent of the insurance market and increasing by 57 per cent to $589m in 2006, compared to $375m in 2005.

Reference: Zawya

If you watched the Oscars last night; then you wouldn’t have missed out on Heidi Klum’s beautiful red gown, by John Galliano. The red silk taffeta stunner will be auctioned off online to beneft Red Heart Truth charity.

Heidi joined forces with the Diet Coke Red Dress Program, a collaboration between the soda brand and The Heart Truth, a national awareness campaign devoted to women and heart disease, sponsored by the National Heart, Lung, and Blood Institute, of the National Institute of Health (NIH).

Heidi’s red dress symbolizes her participation in raising awareness for women’s growing risk of developing heart disease.

If you are Heidi’s fan, you love red, and care about giving back .. don’t miss out on this one !

The Middle East food service market is estimated to be worth more than $31 billion a year. In 2007, 44.2 per cent of all industrial investment was spent in the food, beverage and tobacco sector in the UAE with Dh32,153 million being invested, according to the Ministry of Finance and Industry.

Factsheet

·         Middle East foodservice Market worth $31 billion annually

·         GCC states account for $9.5 billion (meat, poultry and fish account for 30 per cent)

·         The UAE accounts for $3-4 billion

·         Ninety per cent of region’s food needs are imported. Region’s imports increased by 14 per cent to $373 billion in 2006.

·         Dubai is world’s third largest re-export hub. Re-exports 72 per cent of imports to 160 countries.

·         The UAE ranks third globally in annual two-way trade with India.

·         Middle East is a growing franchise destination with annual growth of 27 per cent valued at $14 billion. Fast food accounts for 40 per cent of this.

Reference: Gulf News

The market for high-end ophthalmic products and branded optical aids is estimated at more than $2.1 billion.

“Eyecare exports from Germany to the Middle East increased by seven per cent in 2007 and the proportion is increasing,” said Peter Frankenstein, manager of consumer optics and spokesperson for Spectaris.

Internet users in Saudi Arabia spent over $3.2 billion last year, according to a study by the Arab Advisors Group.

Almost half of all Internet users questioned stated they had used Net-based e-commerce in 2007. The major survey reveals substantial adoption of e-commerce in the kingdom’s booming economy.

Nearly 48.36 per cent of Internet users in Saudi Arabia reported purchasing products and services online and through their mobile handsets over the past 12 months. Based on the survey findings, the Arab Advisors Group estimates e-commerce users in Saudi Arabia to exceed 3.5 million consumers representing 14.26 per cent of the population.