Page 60 - Aamir Rehman - Dubai & Co Global Strategies for Doing Business in the Gulf States-McGraw-Hill (2007)

44 Dubai & Co.

the UK, Russia, and Germany—as well as Asia and Australia. In a
remarkable testament to its drawing power, Dubai attracts around
four visitors for every one resident of the emirate. Investment in
Dubai’s tourism sector continues at a rapid pace, most notably
through the “Dubailand” initiative. Dubailand is projected to be the
largest theme park in the world—twice the size of Disney World in
Florida. The project will take over 10 years to complete, with a first
phase ending in 2010 and the final phase in 2018, and will include
over 200 tourism, leisure, and entertainment subprojects. The
Dubailand project is seeking to establish Dubai as a major tourist
destination with appeal to visitors of all nationalities and markets. 10
Other GCC countries have undertaken large-scale tourism and
hospitality initiatives as well. Oman has announced the creatively
named “Omagine” project—a beachfront complex designed to mix
cultural, tourist, commercial, educational, and residential elements.
The project even includes a theme park boasting seven pearl-
shaped buildings. Kuwait has announced a major project to
develop its Failaka Island into a tourist destination through a 10-
year, multibillion-dollar investment initiative. Even Saudi Arabia,
which hosts over 2 million religious pilgrims each year for the Hajj
(the required Muslim pilgrimage) but is not positioned as an over-
all leisure destination, is trying to develop a broader appeal to stim-
ulate general tourism.

RETAILING
Dubai’s retail sector caters to visitors from the GCC and beyond.
The emirate has 30 shopping malls and is developing the world’s
largest mall. In fact, according to an AC Nielsen study, Dubai’s
shopping space per person is an astonishing four times the amount
11
found in the United States. This huge amount of retail space is one
of the core attractions of the emirate, and Dubai business leaders
have striven to create retail experiences that continue to draw
regional and global visitors. The annual Dubai Shopping Festival, 12
a 32-day event in which the emirate creates a “Global Village”
featuring goods from around the world, draws nearly 3 million
local and international shoppers. The massive Mall of the Emirates,
located along the route between Dubai and Abu Dhabi, includes an
indoor ski slope to attract tourists and locals.