Dubai’s love for the yellow metal is well known. It is one of the largest markets of gold jewellery in the world. An overwhelming majority of people in Dubai own gold. The city also has the thickest concentration of jewellery shops in the world. These shops offer an exquisite variety of gold jewellery to people.
Dubai’s love affair with gold dates back to old times when it was just a small fishing town. Now that it has transformed into a major commercial hub, the consumption of gold in Dubai has increased substantially. It is estimated that almost 76% of people in Dubai own gold. Most of them buy gold for self or gifting purposes.
But you’re wrong if you thought that it’s only the residents that drive the growth of jewellery market in Dubai. A significant percentage of gold buyers in Dubai comprise of tourists who visit the city every year. As per one of the findings, as much as 95% of tourists buy gold in Dubai. Considering these facts, it wouldn’t be wrong to confer the title of ‘The Golden City’ to Dubai!
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