The lavish Gulf Luxury Fair held at the Intercontinental Hotel in London, have hosted big names like Amosu, Jaguar, Girard Perregaux, and Harrods. The first and only UK trade event aimed at visitors from oil-rich countries has succeeded in attracting its targeted customers owing to the abundance of wealth and well-heeled class who have been untouched by the recession. On the contrary, the recession hit Britain’s weak pound has naturally provided a destination for 140,000 Middle Eastern visitors expected in the West End this year. They are likely to spend $410million which is about 11% more than last year. The Middle Eastern markets comprising of Saudi Arabia, Dubai, Abu Dhabi, United Arab Emirates and Egypt have been unaffected by the global slump, owning to which the customers have better liquid finances.
The all new Jaguar starting at $86,270 is keen to remain attractive to the Middle Eastern countries. The timepieces from Girard Perregaux, especially the Rose Gold watch worth $747,570, aptly named as The Jackpot, attracted considerable attention. There were several other exotic collections put up by other companies as well. The Middle East is one of the most important markets for the organized fair as it accounted for around 15% of sales for them.