Dubai Shopping Festival is the iconic annual fiesta that has taken Dubai to new heights over its decade long existence. What began as purely a retail event has today blossomed into a full-fledged tourism and shopping extravaganza setting a trend and leading the way for others to follow.

Dubai’s economy has continued to grow at a significant pace in the last few years as a result of the innovative and forward looking strategies of the Government and the vision of HH Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice-President and Prime Minister and Ruler of Dubai.

Being an important tourism driver the DSF has contributed to making Dubai a preferred destination giving an impetus to the hospitality industry too. Since its inception in 1996, DSF has impacted Dubai economy in a major way by contributing immensely to fortifying Dubai’s image as a major tourism and shopping hub in the region. Today, Dubai’s economy is not just propelled by the oil sector but has contributions from tourism and trade and other sectors as well. Tourism revenue overtook oil revenue as a part of Dubai’s gross domestic product (GDP) for the first time in 2003 was 18per cent against 17per cent GDP for oil. Dubai’s GDP increases an average 7.5per cent a year. In 2004, the tourism industry recorded 37 per cent growth in revenue from 5.42 million hotel guests, reaching Dh6.2 billion in 2005. The hotel and hotel apartment revenue during DSF period in 2005 grew to Dhs 1.03 billion from Dhs 663 million in 2004. In revenue terms this represented an increase of 55per cent with an actual increase of Dhs 218 million for the hotel sector. The combined 11th and 12th edition of DSF is the longest edition ever with a 45-day run. The retail industry as well as the organisers are positive about the outcome of the upcoming festival of festivals and they have every reason to be so. In line with its core theme One World, One Family, One Festival, this year’s mega edition is being dubbed as A World of Festivals encompassing a dozen festivals to cater to different tastes, interests and age-groups.

Industry analysts have forecast the retail spending during the shopping festival to be at least 20 per cent higher than the Dh 6.67 billion recorded in 2005. The DSF retail revenue is expected to touch if not cross the Dh 8 billion mark, which is about eight per cent of Dubai’s 110billion GDP - by all accounts a significant figure and a strong enough reason for the strong backing of the retail sector. Dubai’s private sector has been a pillar of constant support to the Government in formulating innovative strategies and executing unique initiatives giving a boost to the city’s economy which has continued to grow in the last few years at a hectic pace.

The DSF is a brainchild of this Government and private sector symbiosis which has had a very positive impact on the economy of the emirate. The perfect synergy between the Government departments and the private sectors clearly reflects in the success and growth of the festival. DSF’s key sponsors have been instrumental in shaping the retail event as it stands today. They have carved out DSF as a brand icon that embodies the spirit of Dubai today.

With its 45-day long run the DSF 2006-2007 is poised to attract around 3.6 million visitors which will be at least 15 per cent higher visitor turnout as compared to last year. The forthcoming DSF slated to be the biggest ever shopping, entertainment and winning festival has 27 key sponsors to strengthen and support it. Over 3,000 retail outlets are expected to join in the city wide shopping frenzy and add to the momentum of the grand shopping fiesta. The sponsors see the upcoming DSF as a great opportunity to reap good revenues. As in the past editions of DSF the shopping malls are expecting higher footfall and better response to the retail promotions and sales coming up in the next two months. The increased popularity of DSF can be attributed to the fact that it is not just a retail event but a complete package of shopping, leisure and entertainment. A study conducted to analyse the growth of the annual fiesta in 2005 showed that the total visitor number rose to 3.3 million in 2005, against DSF 2004 figures of 3.1 million, with an increase of six per cent. Residents’ participation increased to 2.2 million, a record level, representing five per cent increase and international visitors to DSF increased to 1.1 million, representing a six per cent increase over the last year.