DIFLEX 2023 opens in Dubai

Global leather producers home in on MENA to ride on 6-8% retail spending surge

Population growth, demographic dividend and ease of access attracts leather majors to the region in the backdrop of increasing non-tariff barriers in western export destinations

• Non-food retail sales in GCC alone estimated to touch over USD 150 billion by 2026
• Turkey, India and Egypt take centre stage; The UAE a driving force in empowering trade with the CEPA regime

Dubai, December 11, 2023:    Footwear and leather goods exporters today said that the Middle East and North Africa (MENA) offers a robust growth opportunity for the trade with retail spending power estimated to be surging in the range of 6-8 per cent CAGR across the region with the UAE and Saudi Arabia leading the trend.

Speaking at a press conference on the opening day of the region’s largest footwear and leather goods show – DIFLEX 2023- senior officials representing some of the global leather hubs – Egypt, India and Turkey – said the growth potential of MENA is amplified in the light of the data by Statista that non-food retail sales in the GCC alone is estimated to reach over USD 150 billion by 2026.

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