The Dubai shopping festival is a month long event that is held in Dubai, UAE on the first quarter of the year on that is promoted as a tourism activity and promotes retail sales. The festival started on 15th February 1996 as a retail sales promotion activity but has gone on to be a traditional activity. The shopping festival has grown to be the largest and longest running event in the Middle East and is said to attract about 3 million tourists. This year Dubai Shopping Festival 2011 will start on the January 20th 2011 and its closing ceremony will be held on 20th of February 2011
With the emergence of China and other high performing economies in these times one may then ask what is Dubai World? This is the investment company which manages and controls a wide range of businesses including projects for the government of Dubai. It spans across a variety of industries which enhance Dubai as a base for trading and commerce. The Dubai World is headed by Sultan Ahmed bin Sulayem and plays a crucial role in the leadership of Dubai’s economy. It assets include Hakheel which built Palm Islands and DP World which nearly took over six US ports.
Over the past few months the prices of used cars and electronic goods have risen as the Dubai world financial situation gets worse. This has a spiraled effect on other economies like Kenya which depends heavily on this rich Arab nation. For instance the increase in price of second hand cars from Dubai means less Kenyans can afford this leading to un-utilized capacity. It has been estimated that close to ten thousand Kenyans live and work in the UAE. Trade relations between the two countries have increased over the years with a lot of Kenyans now regularly traveling to UAE to buy household items, automobile spare parts and office appliances.