The regional wedding industry is poised for sustained growth, courtesy surging economies and a young and fast-growing population, according to top executives and professionals in the field.
The executives were responding to a straw poll on the opening day of the four-day Perfect Wedding Show at Expo Centre Sharjah, which was inaugurated on Wednesday by Sheikha Nada Bint Salim Al Qassimi.
On the economy front, they said an increase in crude prices and higher production by Gulf oil producers have boosted their economies by 29 per cent, while the real GDP raced by around 7.8 per cent in 2011, giving a big push to the economic and financial situation in the six member countries and generating better jobs prospects and incomes for its nationals and expatriates.
Qatar, which has been recently ranked as the richest nation in the world, has a per capita income of more than $88,000, while the UAE, which features at number six, has a per capita income of $47,500. This growing affluence is putting the industry on the track for fast growth.
In his comments, “The UAE has air connectivity to almost all important cities of the world and we can boast of a hospitality sector that is second to none.”