The 2022 World Cup in Qatar is expected to provide a major boost to the festive retail period in the Mena region, a report has found.
Peak gross merchandise is projected to reach $8.4 billion for online retail compared to $6.5 billion in 2021, strategy consultants Redseer said in a report.
When including offline sales, the overlap of the football season with Black Friday, which this year is on November 25, will present a $70 billion opportunity for the retail sector in Mena, it said.
"The October-November months represent the festive season when numerous sales campaigns run in the retail space across online and offline channels," the report said.
"Black Friday is the most significant event during the period and has historically seen massive spikes in retail spending."
Retail spending from tourists would contribute more than $3 billion during the festive season, with packaged food and beverages, sportswear, fashion and electronics the sectors to benefit most, according to Redseer.
"A significant portion of the spending will happen through online channels, which will also heavily influence offline purchases," it added.
"Brands and retailers should double their focus on digital media during this period to maximise value creation for themselves and their target consumers."
The World Cup, the first such event to be held in the region, starts on Sunday when hosts Qatar face Ecuador. The final takes place on December 18.
Consumer spending in the UAE jumped 20 per cent on an annual basis in the first nine months of this year despite inflation concerns, Majid Al Futtaim's State of the UAE Retail Economy report said this month.
Retail spending grew by 15 per cent annually in the nine-month period while non-retail spending rose 29 per cent over the same period.
A number of sectors are set to benefit from the hosting of the tournament, including hospitality.
Thousands of fans are flocking to the UAE due to a shortage of accommodation in Qatar, with major local and international hotel chains expected to be at or near full capacity during the four-week tournament.
Shuttle flights are being operated by regional airlines from Gulf cities on match days.
Flydubai and Qatar Airways will operate up to 120 daily flights in and out of Dubai World Central between November 20 and December 19, carrying football fans to Doha for the game and back to the emirate, Dubai Airports said this week.
States of Passion by Nihad Sirees,
Pushkin Press
UAE SQUAD
Khalid Essa, Ali Khaseif, Fahad Al Dhanhani, Adel Al Hosani, Bandar Al Ahbabi, Mohammad Barghash, Salem Rashid, Khalifa Al Hammadi, Shaheen Abdulrahman, Hassan Al Mahrami, Walid Abbas, Mahmoud Khamis, Yousef Jaber, Majed Sorour, Majed Hassan, Ali Salmeen, Abdullah Ramadan, Abdullah Al Naqbi, Khalil Al Hammadi, Fabio De Lima, Khalfan Mubarak, Tahnoon Al Zaabi, Ali Saleh, Caio Canedo, Ali Mabkhout, Sebastian Tagliabue, Zayed Al Ameri
Abu Dhabi GP starting grid
1 Lewis Hamilton (Mercedes)
2 Valtteri Bottas (Mercedes)
3 Sebastian Vettel (Ferrari)
4 Kimi Raikkonen (Ferrari)
5 Daniel Ricciardo (Red Bull)
6 Max Verstappen (Red Bull)
7 Romain Grosjean (Haas)
8 Charles Leclerc (Sauber)
9 Esteban Ocon (Force India)
10 Nico Hulkenberg (Renault)
11 Carlos Sainz (Renault)
12 Marcus Ericsson (Sauber)
13 Kevin Magnussen (Haas)
14 Sergio Perez (Force India)
15 Fernando Alonso (McLaren)
16 Brendon Hartley (Toro Rosso)
17 Pierre Gasly (Toro Rosso)
18 Stoffe Vandoorne (McLaren)
19 Sergey Sirotkin (Williams)
20 Lance Stroll (Williams)
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Red flags
- Promises of high, fixed or 'guaranteed' returns.
- Unregulated structured products or complex investments often used to bypass traditional safeguards.
- Lack of clear information, vague language, no access to audited financials.
- Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
- Hard-selling tactics - creating urgency, offering 'exclusive' deals.
Courtesy: Carol Glynn, founder of Conscious Finance Coaching
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Points about the fast fashion industry Celine Hajjar wants everyone to know
- Fast fashion is responsible for up to 10 per cent of global carbon emissions
- Fast fashion is responsible for 24 per cent of the world's insecticides
- Synthetic fibres that make up the average garment can take hundreds of years to biodegrade
- Fast fashion labour workers make 80 per cent less than the required salary to live
- 27 million fast fashion workers worldwide suffer from work-related illnesses and diseases
- Hundreds of thousands of fast fashion labourers work without rights or protection and 80 per cent of them are women
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Ticket prices
- Golden circle - Dh995
- Floor Standing - Dh495
- Lower Bowl Platinum - Dh95
- Lower Bowl premium - Dh795
- Lower Bowl Plus - Dh695
- Lower Bowl Standard- Dh595
- Upper Bowl Premium - Dh395
- Upper Bowl standard - Dh295
The specs
Engine: 4.0-litre V8
Power: 503hp at 6,000rpm
Torque: 685Nm at 2,000rpm
Transmission: 8-speed auto
Price: from Dh850,000
On sale: now
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Grand slam winners since July 2003
Who has won major titles since Wimbledon 2003 when Roger Federer won his first grand slam
Roger Federer 19 (8 Wimbledon, 5 Australian Open, 5 US Open, 1 French Open)
Rafael Nadal 16 (10 French Open, 3 US Open, 2 Wimbledon, 1 Australian Open)
Novak Djokovic 12 (6 Australian Open, 3 Wimbledon, 2 US Open, 1 French Open)
Andy Murray 3 (2 Wimbledon, 1 US Open)
Stan Wawrinka 3 (1 Australian Open, 1 French Open, 1 US Open)
Andy Roddick 1 (1 US Open)
Gaston Gaudio 1 (1 French Open)
Marat Safin 1 (1 Australian Open)
Juan Martin del Potro 1 (1 US Open)
Marin Cilic 1 (1 US Open)
The biog
Favourite colour: Brown
Favourite Movie: Resident Evil
Hobbies: Painting, Cooking, Imitating Voices
Favourite food: Pizza
Trivia: Was the voice of three characters in the Emirati animation, Shaabiyat Al Cartoon
SPECS
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