Strategy& Partner to speak at Middle East travel retail conference

15 January 2018

Retail and consumer expert Karl Nader, Partner at Strategy&, will address guests at this month’s Middle East and Africa Duty Free Association (MEADFA) conference to be held in Dubai.

The line-up of speakers has been announced for the annual MEADFA conference on the 29-30th of January in Dubai, following the event’s postponement and relocation from Beirut in November amid security concerns over political instability in the Lebanese Republic.

The two-day conference brings together key figures and stakeholders from the Middle Eastern and African duty-free and travel retail industry to share ideas and discuss the present and future issues shaping the dynamic regional sector, with presentations from business leaders in the aviation and retail fields.

The MEADFA Conference

Among the guest speakers for this year’s conference is Karl Nader, Consumer and Retail co-leader in the Middle East for management consulting firm Strategy&, which is part of the PwC network. Nader will share his expert insights on the rapidly-evolving consumer demographics of the Gulf and Levant for the ‘Climate in Retail’ discussion, which seeks to address the issue of rising e-commerce for brands and retailers in the region through strategies to better engage younger consumers in a bid to adapt.

Nader has been with Strategy& since 2005 as a specialist in consumer goods, retailing and distribution, with broad experience in corporate, retail and distribution strategy, category management, promotions and pricing, organisational design, and business restructuring. Prior to joining the firm, Nader had worked as a Senior Consultant for Accenture in its UK retail practice.

Since joining Strategy& in the Middle East, Nader has established himself as a regional authority on the Consumer and Retail markets, and currently operates out of the firm’s Beirut office – which it opened in around 2000 (in its former Booz & Company guise) as the first top-tier US-origin management consultancy in the country to do so.

Another speaker on the bill is Faisal Sultan Salim Al Mamari, a Senior Manager with the Omani body overseeing the development of the new Muscat International Airport, which has engaged airport consultants Munich Airports International to help guide the project.

EY estimates $33 billion boon to UAE economy from Expo 2020 Dubai

16 April 2019

Professional services firm Ernst & Young has outlined the potential economic impact of Expo 2020 Dubai to the UAE economy, concluding a possible $33 billion windfall in gross value add and a near 50,000 full-time equivalent jobs per annum to 2031.

With the Expo 2020 Dubai global showcase now just around the corner – and expected to attract 25 million visits from across the world during its six month schedule from October next year – professional services firm Ernst & Young has released an economic impact report for the event, calculating a US$33 billion (AED122.6 billion) boost of gross value added (GVA) to the local economy from 2013–2031 along with contributing more than 900,000 ‘job years’.

“Expo 2020 Dubai is an exciting long-term investment for the UAE, and is expected to have a significant impact on the economy and how jobs are created directly and indirectly,” said EY MENA Transaction Advisory Services partner Matthew Benson, adding; “Dubai aims to use the event to further enhance its international profile and reputation. The event will celebrate innovation, promote progress and foster cooperation, and entertain global audiences.”

According to the report, the six months of the Expo – the first to be held in anywhere in the Middle East, Africa or South Asia in the event’s 168-year history – will contribute around 1.5 percent of the UAE annual forecast GDP, with the analysts taking in ‘direct’ increases in economic activity, ‘indirect’ benefits of increased supply chain demand, and ‘induced’ benefits from increased spending by employees of participating firms to arrive at its $33 billion figure.EY estimates $33 billion boon to UAE economy from Expo 2020 DubaiConsidering further the planning and legacy phases, EY has in addition estimated AED 4.7 billion in investment to small and medium enterprises (SMEs) during the pre-Expo phase, supporting approximately 12,600 job-years, with the Expo expected to support more than 900,00 full-time equivalent (FTE) job-years in total in the Emirates from 2013 to 2031 – equivalent to some 49,700 FTE jobs. Meanwhile, strong legacy planning will ensure the ongoing benefits.

“Over 80 percent of the Expo built environment is planned to be retained for District 2020, and eventually expand into a city covering more than four million square meters,” states the report, adding that District 2020 aims to support the UAE’s future vision as to sustainable economic development and an innovation-driven economy, with a supportive business environment for key growth industries such as logistics and transport, tourism, construction, real estate and education.

“Although the Expo event lasts less than a year, the positive economic impact continues far beyond the event,” said Jamie Torrens, EY MENA’s head of Economic Advisory in its transaction advisory service division. “Across the period of our study, spanning the Pre-Expo, During-Expo and Legacy phases between 2013 and 2031, Expo 2020 is expected to support billions of dirhams of Gross Value Added (GVA) and thousands of jobs in the UAE.”

As a breakdown, the three largest impact areas across the full study period will be events organisation & business services (contributing over half of the overall figure) followed by construction and then hospitality, while transport, storage & communications will be another significant contributor during the life of the Expo and its planning phase. Retail will also see a boost during the legacy period, with nearly 550,000 jobs years created in this period across sectors.

“This independent report demonstrates that Expo 2020 Dubai is a critical long-term investment,” said Expo 2020 Executive Director Najeeb Mohammed Al-Ali. “Not only will the event encourage millions around the world to visit the UAE in 2020, it will also stimulate travel and tourism and support economic diversification for years after the Expo, leaving a sustainable economic legacy that will help to ensure the UAE remains a leading destination for business, leisure and investment.”

Related: Accenture and SAP roll out next-generation technology for Dubai Expo