Dubai is equidistant from Europe, Africa and Asia, positioning it as a prime business destination for a variety of sectors. Its domestic economy has gained momentum over the last few years, while the successful Dubai Expo 2020 bid has accelerated inward and foreign direct investments.
Dubai has quickly emerged as the leading global hub for the precious metals trade. The Emirate has risen as the destination for global precious metals trading. In 2013 almost 40 per cent of the world’s physical gold trade came through Dubai and the value of total gold traded through Dubai grew to $75 billion, compared to $6 billion in 2003.
Dubai also saw an annual trade volume increase of 73 per cent accounting for 2,250 tonnes of gold. This market has proven to be resilient under all conditions; even on a year where total global demand fell by 15 per cent, Dubai gained from near-record consumption demand growth. These figures represent a significant shift in the balance of global demand flows with Dubai positioned as one of the global market leaders