The managers of companies for gold trading confirmed that the forthcoming Expo 2020 Dubai will support the strong sales of gold and jewelery in the local markets, expecting to increase sales by up to 40% during the exhibition period compared to regular periods.

They explained to «Emirates Today» that the increase in the number of tourists and visitors to the country, which is expected to reach 25 million visitors during the exhibition period, as well as the length of the exhibition’s activities that extend to six months, will be positively reflected in the increased demand for gold sales, whether for jewelry gifts or crafts.

primary factor

In detail, the Chairman of the Board of Directors of the Gold and Jewelery Group in Dubai, and the Director of Jawhara, Tawhid Abdullah, said that (Expo 2020 Dubai) is one of the main factors that will have a strong support in increasing sales of gold and jewelry in the local markets with the increase in the number of Tourists and visitors to the country during the activities of the exhibition over a period of six months », expecting an increase in sales during the period of the exhibition, with rates ranging between 20 and 30% compared to regular periods.

Abdullah added, "The expectations for the rise in gold prices during the next year as a result of the trade unrest in the global markets will not prevent the local markets from benefiting from the positive effects of (Expo 2020) on the sales of handicrafts and jewelry, as it is expected that a large number of tourists and visitors will buy gifts of jewelry and jewelry From the state before leaving ».

And he explained that «the purchases of tourists from gold artifacts account for the largest share of sales of local stores, with most tourists prefer buying gold from Dubai and the country in general with artifacts characterized by low prices and high quality, as well as diversity compared to other global markets».

Great momentum

For his part, mentioned the CEO of "Micura" and the Secretary General of the Dubai Gold and Jewelery Group, Chetan Karni, that "the local markets will witness a great momentum reflected on the sales of gold and jewelry affected by hosting the events of the Expo 2020 Dubai", expecting that «sales will rise Golden artifacts ranged between 30 and 40% during the period of organizing the exhibition compared to the regular periods.

"The length of the exhibition, which extends to six months, will be an exceptional event in supporting the sales of jewelry and jewelry, which reflects positively on the gold trade sector and its products as a whole, alongside investors in the field," Carney said.

He pointed out that «most merchants are watching the period of the (Expo 2020) to take advantage of the expected demand recovery during that period, especially with expectations of more than 25 million visits during the period of the exhibition’s activities.

Great variety

In turn, the director of the "Dahkan Jewelery" company, Vishal Dahkan, stated that the "Expo 2020" exhibition will attract a large number of visitors and tourists from different countries of the world, which in turn will lead to a big boom in the sales of gold and jewelry, "also expected that It recorded growth rates between 30 and 40% during the exhibition.

He added that «the gold markets in the country, especially in Dubai, are characterized by providing a great diversity in supply commensurate with the various nationalities residing in the country and the visitor alike, which is an additional advantage that supports the growth of demand by Expo 2020 visitors to buy golden gifts and jewelry The memorial during their visit to the upcoming exhibition ».

An exceptional event

Anil Dahnak, CEO of Cans Jewelery, said that (Expo 2020 Dubai) is considered an exceptional event in terms of its nature and the duration of its stay, and therefore it will have many positive effects on sales of gold and jewelry in the local markets.