The gold and jewelry sector in the State of Qatar occupies a distinguished position, derived from several factors related to its economic role and its significant contributions to developing the national income and providing job opportunities, in addition to its social and cultural role and its connection to the desire to acquire jewelry as a symbol of heritage and investment.
In a survey conducted by Qatar News Agency (QNA), businessmen in the jewelry sector stressed the importance of its sector in relation to the national economy, as well as its role in the Doha Jewellery and Watches Exhibition, which begins on Thursday and will last until Feb. 5. Through its successive editions, it has become one of the most important regional and international events that attracts the largest brands specialized in the industry at the international level.
Chairman and Managing Director of Darwish Holding Bader Abdullah Al Darwish confirmed in a statement to QNA that the continuous increase in the number of international companies specialized in the manufacture of jewelry and watches at the Doha Exhibition in each edition confirms the importance of the exhibition in its international participation programs, and its success in attracting the most luxurious international brands in the field.
Al Darwish added that the large numbers of transactions achieved by these international companies during the days of the Doha Jewellery and Watches Exhibition make them keen to change their direction towards Qatar and its exhibition, and to present their best products and brand during its events.
He explained the importance of the tourism sector and its organizers in supporting the exhibition through tourists interest in the exhibitions products, estimating the contribution of the tourism sector in increasing the sales rate throughout the period in which the events are held by a percentage ranging between 8%-10%.
In this context, Chairman and Managing Director of Darwish Holding noted the facilities provided by the relevant authorities to tourists wishing to visit the exhibition, especially since a significant number of them head to Doha to see the latest developments in the sector and enjoy the infrastructure established by the State to advance the tourism and hotel sector.
Al Darwish pointed out that the Doha Jewellery and Watches Exhibition is the appropriate space for companies to reveal their latest ideas and visions for developing the sector in the country.
He expressed hope that in the coming period, especially after the success of the exhibition, international companies will take Doha as a platform for innovation and renewal in the sector and launch into regional and global markets, especially since all the capabilities are available and provided to achieve this goal.
In turn, First Deputy to the Chairman at Qatari Businessmen Association (QBA) Hussain Ibrahim Al Fardan said that Doha Jewellery and Watches Exhibition has become a global landmark, as it is the largest in the history of jewelry and watch brands, stressing that Qatar is celebrating its 21st edition this year, with its value estimated at more than QR 15 billion.
In an exclusive statement to QNA, Al Fardan said that owning jewelry in Qatar goes beyond the material dimension, as it is a safe asset, as many prefer it as a means of preserving value, to the symbolic dimension and its consistency with the identity and culture of society, as jewelry often symbolizes wealth, status and cultural identity in general.
Al Fardan considered the exchange of ornate jewelry during traditional Qatari celebrations a prominent example of this cultural importance, as such celebrations stimulate demand for elaborate and finely crafted pieces.
He noted that the increase in the level of per capita income, along with the growing awareness of fashion among consumers, will drive demand for luxury goods, including fine jewelry, which will drive significant growth for this market in Qatar during the coming period.
He pointed out that the economic dynamism witnessed by the country provides a favorable environment for jewelers and designers to develop the industry with the aim of responding to the needs of wealthy consumers who are looking for high-quality and exclusive pieces.
QBA First Deputy to the Chairman also stressed that the increase in the number of arrivals or tourists from all regions, primarily from India, China and Japan, would boost exports, as well as local sales of jewelry products, leading to strong opportunities for generating revenue from the tourism industry in the coming years, thus driving the overall development of this sector in the national economy over the years.
Al Fardan stressed that the stability and growth of the economy ensures continued investment in the jewelry sector, which enhances its expansion and attractiveness in local and international markets.
He pointed out that the jewelry exhibition hosted by Doha represents an opportunity to learn about the latest developments in the field and attract major international companies specializing in new trends in the jewelry industry.
On another note, Qatar Chamber board member and Chairman of the Gold and Jewellery Committee Nasser bin Sulaiman Al Haider praised the great success achieved by the Doha Jewellery and Watches Exhibition in each edition, noting that the interest of international companies specialized in the manufacture of jewelry and watches has made it a major destination for various parties involved in this sector.
Al Haider stated that the interest of the aforementioned companies requires the establishment of advanced mechanisms that stimulate investment and make Qatar a major center at the regional and international levels in the field of producing and re-exporting gold and jewelry.
He noted the opportunities provided by the exhibition in developing the capabilities of Qatari designers in this field by providing the possibility to display their creations that combine forms inspired by Qatari culture and heritage with touches that are in line with the spirit of the times, which are increasingly popular with the new generations, as the entities in charge of the exhibition allocate a special pavilion for these creations.
Al Haider pointed out that the volume of the gold, jewelry and watches market in Qatar amounted to about QR 8.2 billion in 2023, and that the number of companies operating in the sector amounted to nearly 448 companies.
Qatar
Businessmen to QNA: Doha Jewellery and Watches Exhibition a major gateway for companies to move globally
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